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A deal that would give UK-based financial services firms basic access to European Union markets after Brexit is nearly done, a British official said.
The Times newspaper reported that a tentative deal had been reached on all aspects of a future partnership on services, as well as the exchange of data.
"We are making progress," the official, who spoke on condition of anonymity, said, adding that the financial services deal would be based on the EU's existing "equivalence" system.
Currently, as an EU member, banks and insurers in Britain enjoy unfettered access to customers across the bloc in all financial activities. Equivalence, however, covers a more limited range of business and excludes major activities such as commercial bank lending.
A senior member of the Scottish National Party has questioned his party's backing for a second vote on European Union membership, arguing that it could undermine its Scottish independence goal.In a rare public sign of dissent Pete Wishart, an SNP lawmaker in Britain's national parliament, said in a newspaper column that supporting a second "confirmatory" referendum could undercut the SNP's goal of secession from the United Kingdom by inviting comparison.Infighting in Prime Minister Theresa May's Conservatives is complicating her efforts to reach a deal in time for Brexit day on March 2019. The SNP, Scotland's biggest party, said this month it would back a second referendum on the issue -- although Scotland already voted to keep its EU membership in 2016.No second referendum on Brexit: PM MayUK, Norway agree right to remain for their citizensBritain's May says not preparing for general electionUp to now the SNP had been one of the most unified parties on Brexit, supporting Britain's continued membership of the single market and customs union."There is now a view amongst the politicians leading the "People's Vote" (second EU referendum) campaign that all big constitutional referendums should now have a "confirmatory" second vote," Wishart wrote in Scottish newspaper The National."By enthusiastically buying into this 'confirmatory' vote for an EU referendum we weaken our hand in resisting unionist calls for a second vote on a successful indyref (independence referendum)."In the UK's 2016 referendum on EU membership, a majority of voters in Scotland and Northern Ireland voted to remain in the bloc, while England - by far the most populous of the home nations - and Wales voted to leave.May has consistently ruled out the idea of a second Brexit referendum while Labour, whose ranks are also divided, has dithered over the issue. 
New Brexit vote may hamper independence goal, Scottish lawmaker says
A financial services deal may be expected if an overall Brexit agreement is struck this month, the official said.
The pound jumped, rising to $1.2904.
London, which has been a critical artery for the flow of money around the world for centuries, is the world's largest centre of international finance. While New York is by some measures bigger, it is more centred on American markets.
Many bankers and politicians predicted after the June 2016 referendum that leaving the EU would prompt a mass exodus of jobs and business, dealing a crippling blow to London's position in global finance.
British Prime Minister Theresa May reiterated on Tuesday there would be no second referendum on the decision by Britain to leave the European Union."There will be no second referendum on Brexit," May told a session of the Nordic Council held in the Norwegian parliament. UK, Norway agree right to remain for their citizensBritain's May says not preparing for general election
No second referendum on Brexit: PM May
BREXIT AND THE CITY
Global banks operating in the UK have already moved some staff and reorganised some operations ahead of Britain's departure from the European Union, due on March 29.
Britain's Financial Conduct Authority said on Wednesday that UK financial rules should stay aligned with those in the EU after Brexit, a basic condition for Brussels to grant equivalence.
Faced with having Europe's biggest financial centre on its doorstep, the EU has begun tightening conditions for equivalence in areas such as clearing derivatives and investment banking.
Under the current system, Brussels can scrap an equivalence designation within 30 days in some cases - a step it has never taken - and Britain has called for a far longer notice period.
Britain on Wednesday said there was no set date for Brexit talks to finish, backtracking from a letter by Brexit minister Dominic Raab that suggested a deal on the terms of its departure could be finalised by Nov. 21.
British citizens living in Norway and Norwegian citizens living in Britain will have the right to remain residents, even in case of a no-deal Brexit, the prime ministers of Britain and Norway said on Tuesday."Prime Minister May and I agreed that Norway and UK will put in place a comprehensive citizens rights' agreement," Norway's Erna Solberg told reporters."We will treat all UK citizens living in Norway ... so they will have the same opportunities as they had before also after March 2019," she added.
UK, Norway agree right to remain for their citizens
British Prime Minister Theresa May said on Tuesday that the government was not planning for a general election."We are not preparing for another general elections. It wouldn't be in the national interest," she told a news conference in the Norwegian capital with her counterparts from Nordic and Baltic countries. Netherlands prepares to be EU financial trading hub after BrexitN.Irish DUP says will support UK PM May's budget
Britain's May says not preparing for general election