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CFTC allows designated Korea Exchange members to deal directly with US customers

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The Commodity Futures Trading Commission (CFTC) has issued an Order to the Korea Exchange (KRX) permitting certain KRX Members to solicit and accept orders and in connection therewith, accept funds directly from U.S. customers for trading on KRX without having to register with the CFTC as futures commission merchants (FCMs).

The order also permits these designated KRX Members to engage in marketing conduct in the US for a period not to exceed thirty days. This exemption follows similar exemptions granted to other foreign exchanges or foreign regulators pursuant to Regulation 30.10.
The order will be published in the Federal Register and the relief is effective as to qualifying foreign firms upon the filing of certain representations with the National Futures Association. 

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