A deal or no-deal Brexit has started to look more of a game than a serious issue for Britain. The nation is deadlocked at this time, and financial regulators considering a no-deal scenario have come up with an agreement to prevent the markets from falling out.

The market has already witnessed Pound following dynamic trajectories because of the investor’s confidence in recent times. Therefore, considering such dynamic situations, the authorities in UK and the EU have made an attempt to let the currency in transactions continue unrestrictedly.

The Bank of England struck a pact with the European Securities and Markets Authority (ESMA). The pact enabled derivatives to be handled at clearinghouse run by London Stock Exchange Plc, Intercontinental Exchange Inc. and London Metal Exchange.

On Tuesday, ESMA and the UK Financial Conduct Authority raising the alarm for a no-deal scenario ensured taking additional steps in order to maintain stability in the markets. In the process, they said that they would try to avert upsetting the equity and fixed income markets, which are the major regulators for any economy.

Also, the EU data-reporting requirements under the revised Markets in Financial Instruments Directive or MifID II won’t apply to the UK, following Brexit. However, this would require ESMA to decide which stocks and bonds must be traded on electronic trading platforms.

ESMA conveyed, given the circumstances it would also have to bar itself from publishing some of the market data after March. Further notifying that the regulator’s own technology could face setbacks.

Financial regulators have really up the ante, with the deadline approaching on March 29. The UK, however, needs to decide quickly what the real need of the hour is. The UK Prime Minister, Theresa May has failed drastically in swaying the MPs, who voted down her deal in the parliament, weeks ago.

The concern is increasing across Europe that Britain will trigger the chaos not just for itself, but for the entire nation. Keeping which in mind, the European Commission said that the contingency planning must be unilateral and solely focused on safeguarding only the bloc’s interest.

The Bank of England on the other hand assured that the market authorities have sufficient capital and resources needed to handle the no-deal situation, conveying Britain won’t crash out in the coming months.

What happens next cannot be predicted, but the way Britain is moving ahead with its deal alleges a severe possibility of a no-deal scenario.