FinTech agreement is the first of its kind between US and UK financial authorities.
Three major investment banks allegedly carried out various frauds and spoofing on precious metals futures contracts.
Decision means banks and traders can use US venues to trade derivatives in compliance with MiFID II.
CFTC's Giancarlo stated stricter rules on overseeing non-EU clearing houses will damage US derivatives markets.
Morgan Stanley has been fined a total of $350,000 after the CFTC found it had omitted data from its Large Trader reports.
Clients of Morgan Stanley were overcharged more than $1.5 million for exchange and clearing fees.
Citi failed to correctly report LEIs for tens of thousands of swap transactions.
Bank of Tokyo-Mitsubishi informed the CFTC one of its traders had engaged in spoofing activity.
Regulators hope to streamline and improve the quality of derivatives data being reported.
The Commodity Futures Trading Commission approves CME’s application to clear OTC FX options.