Tuesday February 13 2018
News Source: Global Exchanges
Organisation: Commodity Futures Trading Commission (CFTC)
Type: Correspondence with Exchange
On 12th February 2018, the Commodity Futures Trading Commission (CFTC) granted permission to ICE Futures Singapore Pte. Ltd. (ICEFS) to provide its identified members or other participants located in the U.S. with direct access to its electronic order entry and trade matching system. This permission was granted due to the CFTC issuing ICEFS with an Order of Registration (Order). This issuance is a necessary requirement for Foreign Boards of Trade (FBOT) wishing to provide Trade Matching Services.
The ICEFS application for registration included representations that its regulatory regime under its regulator, the Monetary Authority of Singapore (MAS), satisfies the requirements for registration under CFTC regulations.
After reviewing ICEFS application, the CFTC determined that ICEFS had demonstrated its ability to comply with the requirements of CFTC regulations, including CFTC regulation 48.8, which outlines the conditions of registration.
The CFTC issued the Order in accordance with Part 48 of the CFTC regulations, which provides that such an Order may be issued to an FBOT that satisfies the requirements for registration in CFTC regulation 48.7 and, among other things, possesses the attributes of an established, organized 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.
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