On July 29, the CFTC approved its final rule allowing U.S. introducing brokers (IBs) direct access to registered foreign boards of trade (FBOTs) for the submission of customer orders. Specifically, the CFTC will amend its regulations to allow FBOTs registered with the commission to provide direct access to their electronic trading systems to U.S.-based IBs for customer order submissions. The amendments will also establish a procedure for FBOTs to request revocation of their registration and remove outdated references to “existing no-action relief.” These changes will be intended to improve competition, risk management, and liquidity in the market while maintaining protections for U.S. customers trading foreign futures and options. The amendments respond to market developments since the original regulations were established in 2011.