The UK’s Financial Services Authority has signed a memorandum of understanding (MoU) with the U.S. Commodities and Futures Trading Commission.

The MoU is designed to strengthen cooperation on the exchange of regulatory information which will support cross-market surveillance operations. It was signed by Reuben Jeffrey III, CFTC chairman, and Callum McCarthy, FSA chairman, at the IOSCO Technical Conference in London.

“This agreement builds on and strengthens the existing regulatory framework for information exchange between our two institutions as part of our day to day supervision of our respective financial markets,” said McCarthy. “We already work very closely with the CFTC and this MoU will further facilitate that process by setting out the basis for our continued co-operation in this crucial area.”