CFTC, EC said deal will allow clearers to operate in each other's markets
US and European regulators have agreed to
recognise their respective clearing models, drawing a line
under a long-standing disagreement between the bodies and
enabling easier trade between the regions.
The Commodity Futures Trading Commission
and European Commission said in a joint statement on Wednesday
they have reached an agreement that will better enable European
clearing houses to serve US clients and US clearers to service
CFTC Chairman Tim Massad said: "Our
agreement is critical to ensuring that our global derivatives
markets remain robust, while keeping our financial system as
stable and resilient as possible. It is a significant milestone
in harmonising regulation of these markets."
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