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CFTC approves Cleartrade as FBOT

First Published 7th June 2016

Cleartrade Exchange gains approval from CFTC as registered Foreign Board of Trade.

Cleartrade Exchange (CLTX) has been officially approved as a registered Foreign Board of Trade (FBOT). The FBOT approval, which has been granted by the U.S. Commodity Futures Trading Commission (CFTC), allows CLTX to provide their participants located in the U.S. with direct access to its electronic order entry and trade matching system.

The FBOT approval also endorses CLTX as an established and organized exchange which is subject to continuous supervision by the local regulator, Monetary Authority of Singapore (MAS), whose comprehensive supervision and regulatory function is similar to that of the CFTC.

"We are very pleased to receive official approval as an FBOT from the CFTC. This recognition provides certainty to our U.S customers, that they are able to do business in Asia. We look forward to welcoming more U.S. based participants to our marketplace, who are able to access the wide range of commodity futures contracts which we have on our platform," says Dr. Egbert Laege, CEO of CLTX.

"This recognition not only provides U.S. participants with more choice, it also enhances the global reach and influence of EEX Group", adds Peter Reitz, CEO of EEX Group.

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