The US Commodity Futures Trading Commission (CFTC) has issued an order of registration to Eurex Zurich, a foreign board of trade (FBOT) in Switzerland, allowing the company to provide its identified members or other participants located in the US with direct access to its electronic order entry and trade matching system.
Eurex Zurich’s application for registration included representations that its regulatory regime under its regulatory authority, the Swiss Financial Market Supervisory Authority (FINMA), satisfies the requirements for registration under CFTC regulations.
After reviewing the FBOT’s application, the CFTC determined that Eurex Zurich has demonstrated its ability to comply with the requirements of CFTC regulations, including CFTC regulation 48.8, which outlines the conditions of registration. This regulation also permits the CFTC to impose any additional conditions it deems necessary, after appropriate notice and opportunity to respond. Eurex Zurich must also continue to fulfil each of the representations it made in support of its registration application.
The CFTC issued the order in accordance with Part 48 of the CFTC regulations, which provides that such an order may be issued to an FBOT that satisfies the requirements for registration in CFTC regulation 48.7 and, among other things, possesses the attributes of an established, organised exchange and is subject to continued oversight by a regulator that provides comprehensive supervision and regulation that is comparable to the supervision and regulation exercised by the CFTC.
The Eurex Zurich order is the 16th FBOT order the CFTC has issued under CFTC regulations since May 2013. The CFTC previously approved registration orders to FBOTs in Brazil, Canada, Singapore, Malaysia, Japan, New Zealand, Germany, the UK and the Netherlands.
