FOM to Rely on SEC Class No-Action Relief on Broker-Dealer Engagement

A foreign options markets exchange ("the exchange") notified the SEC of its intent to rely on class no-action relief provided to foreign options markets exchanges, their representatives and foreign options market members that engage in familiarization activities with eligible broker-dealers and eligible institutions.

In the notification letter, the exchange said "the eligible options that are the subject of this relief are options contracts that [the exchange] offers or will offer" on (i) individual stocks that are listed and traded [on the exchange,] excluding options on U.S. securities, (ii) exchange traded funds and (iii) various indices.

The exchange promised that it will (i) provide the SEC with a list upon request of the specific equity and index options covered under the relief, (ii) remain in compliance with the conditions outlined in the SEC no-action relief and (iii) comply with the restrictions on securities of U.S. issuers.