On 10 August 2011, the Office of Fair Trading (OFT) invited comments on an application by NASDAQ OMX Stockholm AB to become a Recognised Overseas Clearing House under the Financial Services and Markets Act 2000 (FSMA). Under section 303(3) of FSMA, the OFT must report to HM Treasury on whether any of the regulatory provisions or combination of regulatory provisions of the applicant have a significantly adverse effect on competition. The consultation is open until 21 September 2011.