On 19 August 2019, TAI FSC issued order on foreign futures trading.
- Issued order for futures brokers to indirectly entrust foreign futures trading business.
- According to the provisions of article 38 of the rules governing futures dealers.
- Domestic futures dealers who do not have the clearing membership of foreign futures exchanges, may operate a foreign futures trading business with their affiliates.
- Domestic futures firm may directly entrust foreign futures exchange clearing member.
- Can also indirectly entrust the clearing member with a related company of the foreign futures exchange clearing membership - the indirectly commissioned affiliate company.
- Affiliated company refers to a holding company with over 50% of its holdings or shares, or a subsidiary holding over 50% of the shares.
- Before the domestic and futures commissioners conduct more entrusted business, they shall inspect the entrustment contract signed with the clearing member.
- The contents of the entrustment contract signed by the domestic futures dealers and the clearing members of the foreign futures exchanges shall specify certain points.
- This order will come into effect immediately, previous provisions are abolished.