Statement From US Treasury Secretary Jacob J. Lew On The Agreement Between The Commodity Futures Trading Commission And The European Commissioner For Financial Stability On A Common Approach For Transatlantic CCPs

“The agreement reached by the CFTC and the European Commissioner for Financial Stability is a major milestone in our efforts to reform and strengthen the global derivatives market following the financial crisis. Finding common ground with our European partners to establish a level playing field internationally will help support cross-border activity with the appropriate regulation and supervision. Chairman Massad, his team at the CFTC, and their counterparts at the European Commission, along with former CFTC Chairman Gensler‎, deserve great credit, for the hard work and cooperation they devoted to making this agreement possible and I encourage both entities to implement the agreement swiftly."