EU-UK: Post-Brexit Checks On Goods Into UK To Be Streamlined: Sky News

Apr-05 09:11

Sky News Is reporting that a new model of post-Brexit checks on goods arriving into the UK from the EU, intended to streamline the process of customs checks, is set to be announced by the gov't later today. Sky reports a Cabinet Office source claiming that the model will "reduce the need for checks for many types of goods". On 4 April, i News reported that the announcement would be coming today, highlighting that the implementation of checks - required under the Brexit Withdrawal Agreement - have been postponed four times previously.

  • Port operators have highlighted previously the major difficulties that could be posed at the UK's maritime borders if the customs checks are not implemented in a well-thought-out fashion. The gov't has indicated that the phasing in of controls will be conducted in a 'pragmatic' fashion, while checks will take place away from the border to avoid jams.

Historical bullets

OPTIONS: Expiries for Mar06 NY cut 1000ET (Source DTCC)

Mar-06 09:09

Larger options rolling off at today's cut - NZD/USD slippage over past hour or so puts spot within range of sizeable expiry today:

  • EUR/USD: $1.0630-50(E864mln)
  • USD/JPY: Y135.00-10($547mln), Y135.75-00($615mln), Y137.00-24($1.5bln)
  • GBP/USD: $1.1874-91(Gbp2.3bln), $1.2050-60(Gbp2.7bln)
  • AUD/USD: $0.6735(A$582mln), $0.6760-65(A$644mln), $0.6775-85(A$1.2bln)
  • NZD/USD: $0.6180-00($1.0bln)
  • USD/CAD: C$1.3600($562mln)
  • USD/CNY: Cny6.9500($1.0bln)

EURIBOR OPTIONS: Put Condor Buyer

Mar-06 08:56

ERU3 96.125/96.00/95.875/95.75 put condor bought for 2.5 in 4.5k

EQUITIES: US Equities Roll pace

Mar-06 08:51

US Equites, expiry is on the 17th March and the pace should start picking up next week.

  • Emini: 3%
  • NQA: 2%
  • DOW: 2%