The U.S. Commodity Futures Trading Commission (CFTC) has amended its Brexit-related no-action positions to cover two additional UK trading facilities. The change aims to maintain trading continuity between U.S. participants and UK venues following Britain’s exit from the European Union.

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Two UK Firms Added

The CFTC’s Division of Market Oversight (DMO) said on Tuesday that OptAxe Limited and Capitolis UK Limited have been added to Appendix A of CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term Staff Letter 24-11. The two companies now qualify for the same regulatory relief previously granted to other UK trading facilities.

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The update comes as U.S. and U.K. regulators continue to adjust cross-border oversight frameworks put in place after Brexit. Since the UK’s departure from the EU, the CFTC has issued a series of no-action letters to prevent disruption in derivatives trading between the two markets.

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These letters effectively allow certain U.K.-regulated platforms to service U.S. participants under temporary relief, ensuring access while broader equivalence and recognition arrangements evolve.

The no-action approach, introduced after Brexit, allows UK venues to operate under comparable oversight while avoiding market disruption. The CFTC has periodically updated its relief list to reflect changes in the UK’s trading landscape and ensure consistent treatment of comparable platforms.

The inclusion means both platforms can continue offering certain derivatives market access to U.S. counterparties without registering as designated contract markets or swap execution facilities under U.S. law.

Maintaining Post-Brexit Access

In recent years, the CFTC has expanded and refined its no-action positions to include additional U.K. venues that meet comparable regulatory standards. The inclusion of OptAxe Limited and Capitolis UK reflects the continuing effort to maintain smooth market access and cooperation between U.S. and U.K. derivatives markets.

It underscores an ongoing trend of regulatory alignment, as authorities work to balance market stability with compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term under post-Brexit trading rules.

For the industry, this type of move usually means banks and brokers can keep routing certain swaps or other derivatives through the same UK platforms without changing workflows or onboarding new venues at short notice.

For example, a U.S. swap dealer that already executes trades on a UK multilateral trading facility can continue to do so under the CFTC’s no-action relief instead of shifting activity to a U.S.-registered swap execution facility, which would require fresh documentation, connectivity changes and client approvals.