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Derivatives contracts are worth an estimated $630 trillion (Photo: Travel Aficionado)

EU and US reach last-minute derivatives deal

EU and US financial services officials have reached a last-minute agreement on rules governing the complex derivatives market, after nearly a year of talks between regulators.

The agreement, which will see the sides recognising each other's trading standards, will cover financial instruments and contracts that form a global market worth an estimated $630 trillion (€500 trillion), almost ten times the size of the global economy.

A joint statement by EU commissioner Michel Barnier ...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Derivatives contracts are worth an estimated $630 trillion (Photo: Travel Aficionado)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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