Eurex has moved another step closer to setting up its US exchange, signing up the National Futures Assocation (NFA), to provide regulatory oversight services for its proposed US futures market.

The deal was announced in Chicago, at the outset of the Futures Industry Association conference, and just 24 hours before a special hearing on Eurex US, which is to be held by the sub-committee of the House Agriculture Committee on Thursday. Eurex's US exchange is set to debut on February 1, but is still awaiting regulatory approval from the Commodity Futures Trading Commission (CFTC), the US futures industry regulator. Thursday's hearing could prove crucial for the approval of Eurex's application.