LONDON — The three branches of the European Union government reached an agreement Tuesday night to more tightly regulate the trading of derivatives and other complex instruments, striking a compromise after a flurry of lobbying by oil and commodity interests.

The sweeping new rules aim to head off the kind of unexpected shocks that can cripple the global financial market.

Europe has lagged behind the United States in taking such steps after the financial crisis, and the new regulations were three years in the making.

The regulations, whose main component is the Markets in Financial Instruments Directive, will limit attempts by speculators to corner the market in raw materials like corn or grain.

They will also place new restrictions on high-frequency trading and bring greater transparency on trading activity that is not currently public.

“These new rules will improve the way capital markets function to the benefit of the real economy,” said Michel Barnier, the top European Commission official overseeing the issue. “They are a key step towards establishing a safer, more open and more responsible financial system and restoring investor confidence in the wake of the financial crisis.”