CFTC Issues Exemption to HKSFC Permitting U.S. Customers to Deal Directly with Hong Kong FCMs

The CFTC issued an order to the Hong Kong Securities and Futures Commission ("HKSFC") permitting licensed corporations to solicit and accept orders and funds directly from U.S. customers for trading on any exchange subject to HKSFC's oversight without having to register with the CFTC as future commission merchants ("FCMs"). According to the CFTC, this exemption follows similar exemptions granted to other foreign exchanges or foreign regulators pursuant to CFTC Rule 30.10 ("Petitions for Exemption").

Relief is effective as to each foreign firm upon the filing of certain representations with the NFA.

See: CFTC HKSFC Order; CFTC Press Release.