The U.S. Commodity Futures Trading Commission announced today that it is hosting more than 50 futures industry regulators from around the world today to discuss modernizing financial regulation.

The meeting is closed to the public. The CFTC reports that panel discussions will address issues such as cross-border clearing, the differences between a principles-based regulatory regime and a rules-based regime, and the development of international financial centers. Participants will also discuss whether OTC instruments that are centrally collateralized or cleared should be subject to the same or comparable regulatory regimes as economically equivalent exchange-traded instruments.

Participants at this year’s meeting include regulators from Brazil, Canada, China, Dubai, France, Germany, India, Ireland, Israel, Italy, Japan, Mexico, The Netherlands, Pakistan, Qatar, Singapore, Switzerland, Taiwan, Thailand, the UK, and the United States.

“Today, the futures industry is virtually borderless. To effectively oversee these dynamic markets, regulators around the world must work together,” said CFTC acting chairman Walt Lukken. “Today’s meeting is a critical part of an ongoing international dialogue as we all work to encourage growth in the markets while ensuring market and customer protections are in place. We’re proud to host our colleagues and thank them for their participation.”