CFTC Grants Exemption to KRX Members from FCM Registration Requirement (Fed. Reg.)

The CFTC granted an exemption to certain member firms of the Korea Exchange ("KRX") from being required to register as futures commission merchants. The exemption was published in the Federal Register.

The exemption allows the member firms to (i) solicit, and accept orders and funds directly, from U.S. customers trading on KRX, and (ii) engage in marketing conduct within the United States for a period not to exceed thirty days.

The exemption will become effective on February 11, 2016.