The Financial Conduct Authority has signed its first fintech deal with a US regulator — a potentially significant milestone for startups looking to sell their technologies to banks and fund managers on both sides of the Atlantic.

The FCA and the Commodity Futures Trading Commission said today that they would work together to support startups through their respective fintech initiatives, LabCFTC and Project Innovate. It follows a similar deal struck between the FCA and Hong Kong regulators last September.