TechFlow News, March 17: The U.S. Commodity Futures Trading Commission’s (CFTC) Market Participants Division (MPD) announced it has issued a “no-action” letter regarding Phantom Technologies Inc.’s application, exempting the company from broker registration requirements under specific conditions.
The letter concerns Phantom’s proposed software services designed to facilitate users’ trading with registered futures commission merchants (FCMs), introducing brokers (IBs), and designated contract markets (DCMs). Under this letter, the MPD will not recommend that the CFTC take enforcement action against Phantom or its associated persons for failing to register as an introducing broker or as an associated person of an introducing broker.
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