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If my firm is not based in the United States, what requirements does it have?

The following table shows when an individual/entity is required to be registered as an FCM, RFED, 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. 

** 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.

Foreign entities applying for registration must meet the same filing requirements as domestic applicants. In addition, each foreign entity that files an electronic Form 7-R agrees to make its books and records available in the United States for inspection by NFA and the CFTC.

All foreign applicants must file their application materials in English. FCM and IB applicants required to file financial reports must prepare them in English using U.S. dollars and according to U.S. accounting standards.

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