The Market Participants Department of the CFTC in the United States has issued a no objection position that, under certain conditions, it will not take enforcement action against service providers who provide passive software on the grounds that they are not registered as introducing brokers or their affiliates. The exemption scope is limited to the provision and marketing activities of such software when connecting with registered futures commission merchants, introducing brokers, and designated contract markets for trading. (Source: CFTC, USA)
