I the case in which UK leave the EU with no deal in regards to stock markets, necessary measures are to be taken o avoid liquidity problems.
The watchdog noted that such negative impact could be mitigated id Britain clarifies its trading approach before the specific deadlines for Brexit.
Back in March 2019 ESMA noted that investors could trade over “continental shares” and 14 UK based shares in the event of a no-deal for Brexit.
Some adjustments have been done to the “share trading obligation” STO which will allow such trading, but there will be a market split in any case (officials noted).
Britain has decided not to reveal its trade approach to security trading awaiting for the final deal.