Two days after the CFTC provided authorization for US traders to gain
direct access to the Tokyo Commodities Exchange, the regulatory
authority has now provided two orders, allowing US traders to execute
trades on Singapore Exchange Derivatives, and Bursa Malaysia Derivatives
The reformation of the US electronic trading regulatory structure post Dodd-Frank Act resulted in US citizens being confined to using FX companies in North America, regulated by US authorities. For the purposes of ensuring customer protection, the Commodity Futures Trading Commission (CFTC) has policed this rigorously, ensuring that no OTC derivatives firm overseas accepts US clients.
As far as exchange-traded FX is concerned, however, the US is beginning to take a different view by allowing direct access for US traders to certain executing venues, mainly in the Asia Pacific region.
Two days ago, the CFTC announced that it was to allow direct access for US traders to the Tokyo Commodities Exchange (TOCOM), via which North American business can be executed via direct access to TOCOM’s electronic order entry and trade matching system to trade futures contracts on metals, fuels, rubber and agricultural commodities and futures and option contracts on gold.
Since then, the CFTC has extended this further, allowing US client trading at Singapore Exchange Derivatives Trading Limited (SGX-DT), a Foreign Board of Trade located in Singapore. Under the CFTC’s order, SGX-DT is permitted 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 to trade equity index, interest rate, commodity and foreign exchange futures and options contracts.
Read more Click here / www.trade4x.net
The reformation of the US electronic trading regulatory structure post Dodd-Frank Act resulted in US citizens being confined to using FX companies in North America, regulated by US authorities. For the purposes of ensuring customer protection, the Commodity Futures Trading Commission (CFTC) has policed this rigorously, ensuring that no OTC derivatives firm overseas accepts US clients.
As far as exchange-traded FX is concerned, however, the US is beginning to take a different view by allowing direct access for US traders to certain executing venues, mainly in the Asia Pacific region.
Two days ago, the CFTC announced that it was to allow direct access for US traders to the Tokyo Commodities Exchange (TOCOM), via which North American business can be executed via direct access to TOCOM’s electronic order entry and trade matching system to trade futures contracts on metals, fuels, rubber and agricultural commodities and futures and option contracts on gold.
Since then, the CFTC has extended this further, allowing US client trading at Singapore Exchange Derivatives Trading Limited (SGX-DT), a Foreign Board of Trade located in Singapore. Under the CFTC’s order, SGX-DT is permitted 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 to trade equity index, interest rate, commodity and foreign exchange futures and options contracts.
Read more Click here / www.trade4x.net
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