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THE COMMODITY FUTURES ACT |
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Order No. 7242 |
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Section 66(1) |
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November 27, 2015 |
NEW FRONTIER CAPITAL MARKETS, LLC
WHEREAS:
(A) New Frontier Capital Markets, LLC (the “Applicant”) has applied to the Manitoba Securities Commission (the “Commission”) pursuant to section 66(1) of the Commodity Futures Act (the “CFA”) for an Order that the Applicant be exempt from the requirements of section 3.17 of the MSC Rule 2000-11 (the “Rule”) to be a member of a Commodity Futures Exchange registered under the Act (being, the ICE Futures Canada Inc.);
(B) The Applicant has represented to the Commission that:
1. The Applicant is a limited liability company, incorporated in the State of Illinois, in the United States of America and operates out of the premises located at 141 W. Jackson Blvd, Suite 2102, Chicago, IL 60604;
2. The Applicant, under The Commodity Exchange Act (CEA), is registered as a Introducing Broker and is a National Futures Association Member approved in the United States; NFA ID No. 0481466;
3. The Applicant is not registered under the CFA or securities legislation in the Province of Manitoba but operates within the requirements imposed on it as a Introducing Broker in the State of Illinois and provides advice with respect to futures and options trading in hog, cattle, grain and currency markets for various clients, including agriculture producers and processors;
4. The Applicant is in the process of obtaining registration as an adviser under the CFA to service unsolicited requests to provide research, information and advice to agricultural producers and processors located in the Province of Manitoba. Any trades in commodity futures contracts or commodity futures options as a result of such advice will be carried out through a registrant registered in the appropriate category under the CFA;
5. Section 3.17 of the Rule provides that a registrant under the CFA must be a member of a registered commodity futures exchange;
6. The Applicant does not, and has no intention of, trading on the ICE Futures Canada Inc. with respect to commodity futures contracts or commodity futures options and therefore does not intend to become a member of the ICE Futures Canada Inc.;
(C) Based on the foregoing, the Commission is of the opinion that it would not be prejudicial to the public interest to grant the order requested.
IT IS ORDERED:
1. THAT, pursuant to section 66(1) of the CFA, the Applicant be exempt from Section 3.17 of the MSC Rule 2000-11 to be a member of a Commodity Futures Exchange registered under the CFA provided that the Applicant immediately notifies the Commission if it becomes a member of the ICE Futures Canada Inc, or intends to commence trading in contracts or options on the ICE Futures Canada Inc. or on a Commodity Futures Exchange registered under the CFA.
2. THAT, the fee for this order shall be $650.00.
BY ORDER OF THE COMMISSION
Director