City watchdog relaxes trading rules hours before Brexit

FCA’s adjustment will allow firms on both sides of Channel to deal in derivatives worth billions daily

The City’s financial regulator has relaxed rules on transactions with a daily value of billions of pounds, just hours before the UK officially left the EU’s single market.

The Financial Conduct Authority (FCA) on Thursday used temporary emergency powers to allow companies on both sides of the Channel to trade derivative contracts that are viewed as crucial for financial stability.

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