Regulators in Washington and Brussels have struck a deal advancing a central component of post-financial crisis efforts to coordinate on international rules for derivatives, which played a central role in the 2008 meltdown.

The deal between the Commodity Futures Trading Commission and the European Commission, the European Union's executive arm, revolves around the regulation of clearing houses-entities that are supposed to help prevent a market-wide collapse by ensuring either party in a derivatives transaction would get paid if the other side falters.