On 30 January 2019, the FCA released a statement providing a list of EEA market operators applying to become a recognised overseas investment exchange (ROIE).
The statement follows the FCA’s direction of September 2018 that clarified how market operators (as defined by MiFID II) from the EEA could apply to become an ROIE. This enables EEA market operators to continue to provide their members based in the UK with access to their market, should they no longer be able to rely on MiFID II passport rights once the UK leaves the EU.
The FCA notes that if an EEA operator is not on this list, it does not necessarily mean that UK users will not be able to access trading venues operated by that operator. Overseas market operators which can use the overseas persons exclusion or which do not carry on regulated activities in the UK do not have to seek recognition as a ROIE.
The list identifies that ten EEA market operators have applied, or given the FCA a formal intention, to apply for ROIE status in the UK.