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Uncertainty remains after UK general election

12 Jun 2017

Uncertainty remains after UK general election

Alexandra Hachmeister, Chief Regulatory Officer

The UK general election on 8 June 2017 ended in a hung Parliament, meaning no party has overall majority. Parties can now form a minority government, a formal inter-party agreement, a coalition or, if they fail to form a government, head to a new election.

With the uncertainty over who would form the next government and what the fundamental direction of Brexit would be, the beginning of the formal negotiations planned for 19 June could be further delayed. However, this does not affect the two-years deadline which ends on 29 March 2019, triggered by the UK’s Article 50 notification.

"With the start of the Brexit negotiations, we enter unknown territory. Uncertainty about the final arrangements between the EU and the UK will accompany us in the months to come. Financial infrastructure providers like Deutsche Börse Group will play an important role during these times: they provide sound and stable trading and post trading systems and assist their clients in adapting to the new environment,” said Alexandra Hachmeister, Chief Regulatory Officer at Deutsche Börse.

During the talks, EU law will continue to apply in the UK. However, uncertainty for market participants will continue until the terms of the UK’s withdrawal are agreed.

Deutsche Börse Group is closely monitoring and analysing the Brexit process. We are actively discussing the impact of Brexit with our clients, and are involved in industry association discussions. It is in our primary interest to ensure that our UK-based clients maintain access to our infrastructure. We are therefore committed to maintaining our UK market access post-Brexit, while supporting clients who seek to relocate their business to the EU.

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