The National Stock Exchange of India (NSE) on Monday said that it has received the "Part 30" exemption from the US Commodity Futures Trading Commission (CFTC).
According to the NSE, the exemption enables NSE members to trade in derivatives for US clients.
The US CFTC issued a "Part 30 exemptive order" on May 17, 2018 to the NSE as part of its programme of regulatory deference to foreign regulatory frameworks.
The "Part 30" exemptive programme of CFTC provides US customers with increased access to foreign futures markets.
"The order issued to NSE permits its members to accept US customer funds directly for the purpose of trading in futures and options contracts on NSE without the members having to register with the CFTC as a futures commission merchant," the NSE said in a statement.
"The relief is based on the finding by the 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."
--IANS
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