September 2017
FSC relaxed the conditions for allowing a futures commission merchant to be retained to engage in foreign futures transactions(Taiwan)
2017.7.27
Sophia Tsai
The Financial Supervisory Commission (hereinafter, the "FSC") issued the Jin-Guan-Zheng-Qi-1060023566 Directive of July 27, 2017 (hereinafter, the "Directive") to relax the conditions for allowing a futures commission merchant to be retained to engage in foreign futures transactions. The Jin-Guan-Zheng-Qi-1030014971 Directive of May 6, 2014 was abolished on the same day.
According to the Directive, an approved domestic futures commission merchant who is a trading member of a foreign futures exchange and obtains a proof indicating that a clearing member of a futures clearing institution handles the settlement and clearing can be retained by another futures commission merchant to engage in foreign futures transactions. When a futures commission merchant operates foreign futures transaction business, transactions shall be conducted in a foreign futures exchange in one of the manners stipulated under Article 38, Subparagraph 1 of the Regulations Governing Futures Commission Merchants and shall be ordered one by one.
Sophia Tsai
The Financial Supervisory Commission (hereinafter, the "FSC") issued the Jin-Guan-Zheng-Qi-1060023566 Directive of July 27, 2017 (hereinafter, the "Directive") to relax the conditions for allowing a futures commission merchant to be retained to engage in foreign futures transactions. The Jin-Guan-Zheng-Qi-1030014971 Directive of May 6, 2014 was abolished on the same day.
According to the Directive, an approved domestic futures commission merchant who is a trading member of a foreign futures exchange and obtains a proof indicating that a clearing member of a futures clearing institution handles the settlement and clearing can be retained by another futures commission merchant to engage in foreign futures transactions. When a futures commission merchant operates foreign futures transaction business, transactions shall be conducted in a foreign futures exchange in one of the manners stipulated under Article 38, Subparagraph 1 of the Regulations Governing Futures Commission Merchants and shall be ordered one by one.
