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Domestic futures commission merchants (FCMs) are allowed to conduct foreign futures commission services through indirect engagements with foreign FCMs

In order to increase business efficiency in foreign futures re-brokerage services, the FSC announced the order on August 19, 2019 which stipulates that the domestic futures commission merchant (FCM) is allowed to conduct trades on a foreign futures exchange through direct business engagement with the foreign futures merchant’s worldwide group affiliates. The group affiliates include the holding company by which it is controlled (where such holding company holds more than 50 percent of the merchant''s shares), a subsidiary in which the merchant holds more than 50 percent of the shares, or another subsidiary of the same holding company by which the merchant is controlled (where such more than 50 percent of the shares in such other subsidiary are held by the merchant''s holding company), provided that the said controlled company and subsidiaries are clearing members of the relevant foreign futures exchange.
Visitor: 162   Update: 2019-09-18