Leading bourse NSE today said US regulator Commodity Futures Trading Commission (CFTC) has allowed the exchange's brokers to trade in derivatives for US clients.
CFTC yesterday issued a Part 30 exemptive order to National Stock Exchange (NSE) as part of its programme of regulatory deference to foreign regulatory frameworks, the bourse said in a statement.
Part 30 exemptive programme provides US customers with increased access to foreign futures markets.
The move will allow NSE brokers to accept US customer funds directly for trading in futures and options contracts on the exchange without the members having to register with CFTC as a futures commission merchant.
The relief is based on the finding by CFTC that the local laws and regulations in India applicable to NSE members provide a comparable level of customer protection, including licensing standards, minimum financial requirements, and robust compliance programmes, the exchange noted.
CFTC Chairman J Christopher Giancarlo said:"I believe the global nature of derivatives markets calls for an international perspective."