@ESMAComms latest report on derivatives trading helps underline why there needs to be a fix. https://twitter.com/staffordphilip/status/1328241905981911041
The market in 2019 shrank slightly, to €681tn outstanding total notional in Q4 from €715tn a year earlier.

But London is central to this market.
The City exterts a huge gravitational pull in interest rates and credit
and commodities...
..and currencies although less so in equities
But the real kicker is here. London is the global hub for interest rates
And currency (and credit)
Questions about market access are about balancing local regulatory supervision with not being shut out of these kinds of flows. Full report here.

https://www.esma.europa.eu/sites/default/files/library/esma50-165-1362_asr_derivatives_2020.pdf
You can follow @staffordphilip.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled:
Those who think consciousness raising & movement building are disconnected, or even a distraction from electoral politics have not paid attention to the history of social change.In this thread, we
Read more
The 2020s will be known as the Remote Work decadeA few predictions of what is likely to emerge[ a thread ] Third Space: Office and Working from Home will
Read more
1/29: Have you ever had a concept explained to you that helps frame complex issues you’ve been wrestling with and opens your eyes to new possibilities? A concept that I
Read more
By continuing to use the site, you are consenting to the use of cookies as explained in our Cookie Policy to improve your experience.