With the official end of the two year period for the Article 50 negotiations between the UK and the EU27 on the former’s exit from the EU ending on the 29th of March 2019, there remains a lack of significant clarity over whether the UK’s membership of the EU will cease abruptly (no-deal Brexit) or whether the UK’s membership will be phased out over the course of a transition period that would allow sufficient time for businesses and financial markets to adapt, whilst also giving negotiations ample time to determine the modalities of the UK’s future trading relationship with the European Union.