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NSE receives US CFTC "Part 30" exemption

IANS  |  Mumbai 

The (NSE) on Monday said that it has received the "Part 30" exemption from the US (CFTC).

According to the NSE, the exemption enables NSE members to trade in derivatives for US clients.

The US issued a "Part 30 exemptive order" on May 17, 2018 to the NSE as part of its programme of regulatory deference to foreign regulatory frameworks.

The "Part 30" exemptive programme of provides US customers with increased access to foreign futures markets.

"The order issued to NSE permits its members to accept US customer funds directly for the purpose of trading in futures and options contracts on NSE without the members having to register with the as a futures commission merchant," the NSE said in a statement.

"The relief is based on the finding by the CFTC that the local laws and regulations in applicable to NSE members provide a comparable level of customer protection, including licensing standards, minimum financial requirements, and robust compliance programmes."

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 18 2018. 20:50 IST
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