CFTC plan for ending US customer access to foreign derivatives should allow for broader input, industry says

15 August 2019 9:51pm
A US Commodity Futures Trading Commission proposal should allow for broader input from industry in its process for ending US customer access to a particular foreign futures and options market, industry players said.

The CFTC has proposed clarifying how it can terminate relief that permits US clients to buy derivatives overseas. The commission might act in response to a foreign regulator’s change in policy on customer funds, for example.

Under the proposal, only the overseas authority or self-regulatory organization that filed the original relief petition would be given an opportunity to respond to CFTC plans — not dealers and US customers.