Mumbai, Nov 25 (UNI) NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange of India Ltd (NSE) becomes the first International Exchange in Gift City to be part 30 exempted by Commodity Futures Trading Commission (CFTC).

The CFTC exemption enables NSE IFSC members to trade in derivatives for US clients, a release said.

The Commodity Futures Trading Commission (CFTC) issued a Part 30 exemptive order dated November 24, 2020 to NSE IFSC as part of its program of regulatory deference to foreign regulatory frameworks. Part 30 exemptive program of CFTC provides US customers with increased access to foreign futures markets.

The order issued to NSE IFSC permits its members to accept US customer funds directly for the purpose of trading in futures and options contracts on NSE IFSC without the members having to register with the CFTC as a futures commission merchant. The relief is based on the finding by the CFTC that the local laws and regulations applicable to NSE IFSC members provide a comparable level of customer protection, including licensing standards, minimum financial requirements, and robust compliance programs.

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