At the recent FX Hive in London, Anthony Belchambers, Financial Services Negotiating Forum Advisory Board member, was interviewed by David Clark, Chairman, of The Wholesale Markets Brokers’ Association to analyse the impact of Brexit on FX Trading.
On Tuesday 17th January, UK Prime Minister Theresa May is expected to use a speech to signal a ‘hard Brexit’ and the governor of the Bank of England, Mark Carney, said recently the financial services industry could suffer ‘outsize’ consequences from losing only some of its access as a result of Brexit. Whilst the immediate risk posted by Brexit to the UK economy has declined he commented that the UK should concentrate on stable access to financial markets after Brexit.
At the FX Hive, David Clark asked Mr Belchambers the following fundamental questions in relation to Brexit and FX trading:
What is your interpretation of the current situation?
Do you think that there is real hostility between the City and Parliament on this issue?
In your opinion what are the Brexit options available to the UK?
Are there fiscal issues relating to Brexit? If so, how do we overcome these?
Anthony Belchambers’ opinion on how the EU interprets equivalents
What do you think the outlook is for clearing?
Read more: Hard Brexit or Soft Brexit?