U.S. derivatives regulators, after spending more than a year debating swaps rules for Goldman Sachs Group Inc., Deutsche Bank AG and other trading firms, will meet today with European and Asian officials to resolve differences over the rules' international reach.

If the regulators can't agree, they risk missing an end-of-year goal for reducing risks in the $648 trillion global swaps market.

The Commodity Futures Trading Commission, the main U.S. regulator for interest-rate and credit swaps, is weighing final guidance on the cross-border reach of trading, capital, collateral and other rules. The agency's advisory committee on global markets will confer today in Washington with overseas regulators — and the U.S. Securities and Exchange Commission.