Eurex US recognised as an overseas investment exchange

Resource type: Legal update: archive

Status: Law stated as at 21-May-2004

Jurisdiction: United Kingdom

HM Treasury has given the Financial Services Authority (FSA) leave under the Financial Services and Markets Act 2000 (FSMA) to recognise Eurex US as a recognised overseas investment exchange. The FSA has responsibility under the FSMA for the recognition of overseas exchanges and clearing houses (section 292, FSMA). Overseas investment exchanges and clearing houses must meet certain requirements in order to obtain recognition and maintain their recognised status and these are set out in section 292(3) of FSMA. In coming to its decision the Treasury took advice from the Director General of Fair Trading who concluded that the rules of Eurex US do not appear likely to restrict, distort or prevent competition to any significant extent.

Eurex US was formed in the United States to offer US dollar and euro denominated futures and options to the US derivatives marketplace and becomes the tweflth recognised overseas investment exchange.

Source: Treasury press release (21 May 2004): Eurex US recognised as an overseas investment exchange.

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  • Resource ID: 9-102-7990
  • Law stated date: 21-May-2004
  • Products:  PLC UK Financial Services
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