U.S. And EU Reach Deal On Derivative Trade Rules

U.S. and the European Commission struck a landmark cross-border deal to oversee $633 trillion derivatives market. US, EU Landmark Cross-Border Deal The deal struck between the U.S. derivatives regulator Commodity Futures Trading Commission and the European Commission involves accepting some of their rules as ‘essentially identical’. Under the landmark deal, CFTC will allow U.S. banks operating in the European Union to comply with some local rules and delay applying others. This deal would facilitate firms to avoid the burden of complying with two different sets of regulations. Recognize Each Others Rules The deal would put both the U.S. and the…