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My firm's business with U.S. customers is limited to transactions on foreign exchanges. Do I still have to register?

A foreign entity that transacts business directly with U.S. customers solely in futures contracts and commodity options traded on foreign exchanges is exempt from registration if:

(a) it is an FCM subject to a comparable regulatory structure by a foreign regulator which has been granted an exemption by the CFTC, or it is an IB, CPO, or CTA without a U.S. office; and

(b) it has filed a request for exemptive relief and an agreement with NFA appointing an authorized U.S. agent for service of process for communications in connection with activities that would otherwise require registration. IBs, CPOs and CTAs request exemption relief by filing an Exempt Foreign Firm Form 7-R.

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