Regulation 2

to give effect to an arrangement between the Authority and the United States Commodity Futures Trading Commission, under which —

the United States Commodity Futures Trading Commission recognises that the requirements imposed by or under the Act on persons who operate organised markets in Singapore are comparable to the requirements imposed on persons who operate trading venues for derivatives contracts in the United States of America under the United States Commodity Exchange Act; and

the Authority recognises that the requirements imposed on persons who operate trading venues for derivatives contracts in the United States of America under the United States Commodity Exchange Act are comparable to the requirements imposed by or under the Act on persons who operate organised markets in Singapore; and

in particular —

to exempt persons who establish or operate trading venues for derivatives contracts in the United States of America under and in accordance with the United States Commodity Exchange Act from the requirement under section 7(1) of the Act to be an approved exchange or a recognised market operator before establishing or operating an organised market, or holding itself out as operating an organised market; and

to prescribe trading venues for derivatives contracts in the United States of America that are regulated under and in accordance with the United States Commodity Exchange Act as facilities on or through which a specified person may execute a specified derivatives contract for the purposes of section 129J(1) of the Act.