According to Bloomberg’s Silla Brush and Jim Brunsden: “U.S. and European Union (EU) officials are nearing a deal to grant EU swap-trading platforms a reprieve from Dodd-Frank Act rules set to take effect next week, according to two people with knowledge of the negotiations.”

They continued: “The agreement would free trading platforms in the EU from U.S. rules for swap-execution facilities, or Sefs, at least temporarily, according to the people, who spoke on condition of anonymity because the talks are private. The negotiations between the Commodity Futures Trading Commission (CFTC) and European authorities are still under way, and the agreement could change before Feb. 15, when the rules requiring the use of platforms take effect, the people said.”

The various lawsuits launched in the US seem to be making an impact. The EU is keen to comply with the new G-20 agreements. The negotiations on the rules for swap-execution facilities are part of broader work by the EU and U.S. on the interaction of their respective derivatives regulations.