What must my firm consider when doing business with a foreign account or entity?

The following table shows when an individual/entity is required to be registered as an FCM, IB, CPO, or CTA based on the locations of the entity, its customers, and the exchanges on which contracts will be traded.  Exemptions may, of course, apply.

Entity Location	Customer Location	Exchange Location	Registration Required
United States	United States	United States	Yes
United States	United States	Foreign Country	Yes
United States	Foreign Country	United States	Yes
United States	Foreign Country	Foreign Country	No
Foreign Country	United States	United States	Yes
Foreign Country	United States	Foreign Country	*
Foreign Country	Foreign Country	United States	No**
Foreign Country	Foreign Country	Foreign Country	No

*The firm must register unless it has received an exemption under CFTC Regulation 30.5 or 30.10.  BASIC will tell you if the firm is exempt under one of these rules. 

** For a foreign broker acting as an FCM, registration is not required only if it submits any commodity interest transactions executed on or subject to the rules of a designated contract market for clearing on an omnibus basis through a registered FCM.