Commission updates on derivatives: Michel Barnier has stressed the need for a final global push on how "deference" to other countries' rules on derivatives should work. He plans to propose that central counterparties (CCPs) from Japan, Singapore, Australia, Hong Kong and India be treated as "equivalent" and allowed to clear EU derivatives trades. He hopes other jurisdictions, including the US, will follow and hopes the current dialogue between the EU and the Commodity Futures Trading Commission will result in mutual equivalence decisions. (Source: Commission Updates on Derivatives)