The Commodity Futures Trading Commission has granted no-action relief to BM&F Bovespa S.A. – Bolsa de Valores, Mercadorias e Futuros, the Brazilian derivatives exchange (BM&F), to permit direct electronic access to BM&F’s electronic trading and order matching system (GTS) to U.S. persons without BM&F’s designation as a contract market. The no-action relief applies to (i) persons located in the U.S. who are authorized by the Chicago Mercantile Exchange to access GTS through a Globex terminal, (ii) registered futures commission merchants (FCMs) who enter orders directly in GTS for their proprietary account or on behalf of U.S. customers, and (iii) authorized customers of an FCM or Rule 30.10 Firm that have been authorized by an entity with access rights to BM&F (as well as such entity’s BM&F clearing member, who must agree to guarantee and assume certain responsibilities with respect to the customer’s activities) to enter orders directly into GTS.
Register Now As you are not an existing subscriber please register for your free daily legal newsfeed service.Register
If you have any questions about the service please contact firstname.lastname@example.org or call Lexology Customer Services on +44 20 7234 0606.
BM&F granted no-action relief to permit electronic access in U.S.
- Katten Muchin Rosenman LLP
- Kenneth Rosenzweig, Fred M. Santo,Kevin Foley and Lance A. Zinman
- Brazil, USA
- October 3 2008
If you are interested in submitting an article to Lexology, please contact Andrew Teague at email@example.com.
“I enjoy the CLANZ newsstand and find it highly relevant to my job. I definitely have forwarded various articles to my colleagues on occasion where there is a point of general interest, particularly employment or IT law. I...
“I enjoy the CLANZ newsstand and find it highly relevant to my job. I definitely have forwarded various articles to my colleagues on occasion where there is a point of general interest, particularly employment or IT law. I really appreciate the service, it's a quick way for me to keep up to date in a way I wouldn't otherwise have time to.”