Joint Statement of CFTC Chairman Timothy Massad and European Commissioner Jonathan Hill

May 7, 2015

Jonathan Hill, European Commissioner for Financial Stability, Financial Services and Capital Markets Union, and Timothy Massad, Chairman of the US Commodity Futures Trading Commission, met in Brussels on Thursday to continue their discussions on a possible equivalence decision by the European Commission for central counter parties (CCPs) that are regulated and supervised by the CFTC.

As home to the world's two largest derivatives markets, we are committed to ensuring financial stability by ensuring an appropriate treatment of risks, as well as ensuring market participants can operate cross border in a global marketplace.

Discussions are constructive and progressing. They have been mutually satisfactory on the issue of the ability for both sides to potentially defer to each other's rules.

Commissioner Hill and Chairman Massad agreed to continue their discussions with the aim of finalizing an approach by the summer.

Last Updated: May 7, 2015