CFTC Issues Orders Of Registration Permitting Trading By Direct Access

On October 31 2016 the Commodity Futures Trading Commission (CFTC) issued orders of registration1 to the following foreign boards of trade:

• Eurex Deutschland;
• CME Europe Limited;
• ICE Futures Europe;
• The London Metal Exchange; and
• London Stock Exchange plc.

Under the orders, each foreign board is permitted to provide identified members or other participants located in the United States with direct access to its electronic order entry and trade matching system.

The CFTC issued the orders under Part 48 of the CFTC regulations, which provides that such orders may be issued to a foreign board that possesses, among other things, the attributes of an established, organised exchange and is subject to continued oversight by a regulator that provides comprehensive supervision and regulation that is comparable to the supervision and regulation exercised by the CFTC.