Hong Kong's Securities And Futures Commission Welcomes U.S. CFTC Exemption For Hong Kong Brokers To Deal Directly With U.S. Customers

The Securities and Futures Commission (SFC) welcomes the issuance of an order by the U.S. Commodity Futures Trading Commission (CFTC) permitting SFC-licensed corporations to deal directly with U.S. customers in relation to trading of futures or options products on exchanges under the SFC’s oversight without having to register as futures brokers in the U.S. (Note 1).

The exchanges covered by the order include Hong Kong Futures Exchange Limited and non-U.S. exchanges authorized by the SFC under the Securities and Futures Ordinance. 

Licensed corporations interested in exemption under the order which permits them to solicit and accept orders and funds directly from U.S. customers are required to submit applications with the U.S. National Futures Association via the SFC. Details of the application procedures will be announced in due course.

Note:

1. The CFTC is the regulatory body overseeing the U.S. futures and swaps markets including the regulation of intermediaries. The order was granted under CFTC’s Regulation 30.10. For details on the order, please go to CFTC’s website.