"No action" process likely to remain unchanged at CFTC

Commodity Futures Trading Commission (CFTC)'s recent approval of contracts from two foreign exchanges through the so-called "no action" letter process is further proof that the regulator will not try to extend its jurisdiction to non-US countries.

Two foreign exchanges, Mexican Derivatives Exchange (MexDer) and Hong Kong Futures Exchange (HKFE), were both given no action letters over the past three weeks by CFTC. The approvals would allow them to offer the Mexican Stock Exchange index...