US regulators, behind schedule in finalising key rules mandated by last year's financial-regulatory overhaul, agreed to delay a host of new requirements scheduled to hit the $600 trillion derivatives market next month.

The move offers temporary relief to banks, companies and investors who have worried their use of derivatives - sometimes-complex financial products used to hedge risk or speculate for profit - could run afoul of regulation. Certain parts of the Dodd-Frank financial law automatically take effect July 16, though regulators have yet to issue final rules in affected areas.