National Stock Exchange of India (NSE) becomes the first Indian stock exchange to be part 30 exempted by Commodity Futures Trading Commission (CFTC).
The CFTC exemption enables NSE members to trade in derivatives for US clients.
The Commodity Futures Trading Commission (CFTC) issued a Part 30 exemptive order dated May 17, 2018 to the National Stock Exchange of India (NSE) as part of its program of regulatory deference to foreign regulatory frameworks. Part 30 exemptive program of CFTC provides U.S. customers with increased access to foreign futures markets.
The order issued to NSE permits its members to accept U.S. customer funds directly for the purpose of trading in futures and options contracts on NSE without the members having to register with the CFTC as a futures commission merchant. The relief is based on the finding by the CFTC that the local laws and regulations in India applicable to NSE members provide a comparable level of customer protection, including licensing standards, minimum financial requirements, and robust compliance programs.
FTSE Mondo Visione Exchanges Index:
National Stock Exchange Of India Derivatives Access To US Clients Enabled
Date 18/05/2018