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US CFTC allows NSE brokers to trade in derivatives for US customers

Press Trust of India  |  New Delhi 

Leading bourse NSE today said US regulator (CFTC) has allowed the exchange's brokers to trade in derivatives for US clients.

yesterday issued a Part 30 exemptive order to National Stock (NSE) as part of its programme of regulatory deference to foreign regulatory frameworks, the bourse said in a statement.

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

The move will allow NSE brokers to accept US customer funds directly for trading in futures and options contracts on the without the members having to register with as a futures commission merchant.

The relief is based on the finding by 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, the noted.

CFTC J said:"I believe the global nature of derivatives markets calls for an international perspective."

CFTC began the Part 30 exemptive programme nearly three decades ago and has expanded relief to 12 jurisdictions in South America, Europe, and

Currently, over 120 foreign brokers across the globe are authorised to deal directly with US futures customers, resulting in more efficient and less costly transactions.

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

First Published: Fri, May 18 2018. 13:00 IST