Griffin OTF to remain in the UK unless a hard Brexit
LONDON 8th October 2019: Griffin will continue to operate its OTF from London unless the UK leaves the EU under a hard (no deal) Brexit.
Provided Griffin can continue to provide its customers with the ability to trade under the C6 REMIT carve-out, it will carry on running its OTF from London. However, should a hard Brexit occur on 31st October, Griffin has everything in place to make an immediate switch to run its OTF from Paris through Griffin Markets Europe SAS.
If the UK leaves the EU under the terms of the withdrawal agreement as it stands, Griffin will still be able to carry on providing a C6 REMIT carve out service to its OTF customers from the UK.
Customers should nevertheless ensure that their ETRM systems are able to recognise Griffin’s French entity in preparation for a hard Brexit and a test environment has been set up to facilitate this.
If Griffin did switch operation of its OTF to France, traders’ view of the Trayport screen would not change and they would continue to see Griffin’s prices alongside the same broker code as today.