Commodity derivatives access: brokers need permission to operate across securities and commodity derivatives markets under new rules. Amendments expand definitions to include clearing members and self-clearing members in commodity derivatives, designate a commodity derivatives exchange as the clearing corporation until a separate entity is established, and apply Chapters IV-VI mutatis mutandis to such members. Brokers are barred from conducting both securities and commodity derivatives activities without Board permission. Separate fee, registration and non-refundable application schedules and distinct networth and deposit tables for commodity derivatives members are introduced, with transitional provisions for entities migrated from the Forward Markets Commission and a one-year compliance window for specified capital requirements.
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Commodity derivatives access: brokers need permission to operate across securities and commodity derivatives markets under new rules.
Amendments expand definitions to include clearing members and self-clearing members in commodity derivatives, designate a commodity derivatives exchange as the clearing corporation until a separate entity is established, and apply Chapters IV-VI mutatis mutandis to such members. Brokers are barred from conducting both securities and commodity derivatives activities without Board permission. Separate fee, registration and non-refundable application schedules and distinct networth and deposit tables for commodity derivatives members are introduced, with transitional provisions for entities migrated from the Forward Markets Commission and a one-year compliance window for specified capital requirements.
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