February 12, 2018

CFTC Issues Order of Registration to ICE Futures Singapore to Permit Trading by Direct Access from the U.S.

Washington, DC — The Commodity Futures Trading Commission (CFTC) announced the issuance of an Order of Registration (Order) to ICE Futures Singapore Pte. Ltd. (ICEFS), a Foreign Board of Trade (FBOT) located in Singapore. Under the Order, ICEFS is permitted to provide its identified members or other participants located in the U.S. with direct access to its electronic order entry and trade matching system.

The ICEFS application for registration included representations that its regulatory regime under its regulator, the Monetary Authority of Singapore (MAS), satisfies the requirements for registration under CFTC regulations. After reviewing the FBOT’s application, the CFTC determined that ICEFS 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. ICEFS must also continue to fulfill 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, organized 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.

Including the ICEFS Order, the CFTC has issued 18 FBOT Orders under CFTC regulations since May 2013. The CFTC previously approved Registration Orders to FBOTs in Brazil, Canada, Singapore, Malaysia, Dubai, Japan, New Zealand, Germany, the United Kingdom, Netherlands and Switzerland.

Last Updated: February 13, 2018