The CFTC recently issued orders of registration as a “Foreign Board of Trade” to BM&F Bovespa S.A. located in Sao Paulo, Brazil and Cleartrade Exchange Pte. located in Singapore.  Registration as a Foreign Board of Trade under Part 48 of the CFTC’s rules allows each exchange to provide identified members and certain other market participants located in the U.S. with direct access to the exchange’s electronic order entry and trade matching system. 

Registration as a Foreign Board of Trade requires a showing by the non-U.S. exchange that it possesses the attributes of an established, organized exchange and that it is subject to regulatory oversight that provides comprehensive supervision and regulation that is comparable to the supervision and regulation exercised by the CFTC.