US and EU entities may be unable to trade some derivatives in January without a decision.
Jay Clayton does not dismiss expanding Reg SCI.
A level of mutual access for EU and UK firms is required.
Regulating the hammer when the carpenter is already regulated.
Margin rules for uncleared derivatives have boosted central clearing.
A firm's data might be more valuable than its core business offering.
UK wants a ‘time-limited implementation period’ after leaving the EU.
Broad market acceptance is vital for effective functioning.
Firms need to evidence they have taken sufficient steps to meet start-date.