The European Union said banks and other traders in the bloc can use U.S. platforms to comply with MiFID II restrictions on derivatives, as policy makers moved to prevent a rupture in the $542 trillion global market less than a month before the EU law kicks in.

The decision announced Tuesday by the European Commission, the EU's executive arm, is intended to smooth the start of MiFID II and follows an agreement with U.S. authorities to coordinate oversight of the market. The main U.S. derivatives regulator plans to exempt certain EU trading venues from U.S. registration requirements, the commission said in a statement.

The move will allow European traders to use some of the world's biggest platforms run by CME Group Inc. and Intercontinental Exchange Inc., as well as more than 20 swap-execution facilities registered in the U.S., including those operated by BGC Partners and Cie. Financiere Tradition.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.