SGX receives approval from Commodity Futures Trading Commission as registered Foreign Board Of Trade
The FBOT approval endorses SGX as an established and well-regulated derivatives exchange subject to continued oversight by the local regulator, Monetary Authority of Singapore, which provides comprehensive supervision and regulation comparable to the CFTC’s practices and standards.
“We thank the CFTC and are pleased to receive recognition as an FBOT from the CFTC. This provides certainty and continuity in our efforts to satisfy the needs of our U.S. customers doing business in Asia. We look forward to welcoming more U.S. market participants to our marketplace. As an international exchange, we operate in compliance with global best practices and in alignment with requirements mandated by the world’s major regulators,” said Muthukrishnan Ramaswami, President, SGX.
With both the FBOT and DCO statuses, U.S. participants are able to trade and clear their derivatives contracts efficiently in compliance with the latest U.S. laws and regulations. SGX also welcomed its first U.S. Futures Commission Merchant member under the newly introduced “remote clearing member framework” on 14 January 2015.