Exemption From Registration for Certain Foreign Persons

The Commodity Futures Trading Commission (``Commission'') is proposing to amend one of its regulations. The proposed amendment would amend the conditions under which persons located outside the United States (``U.S.'') acting in the capacity of a futures commission merchant (``FCM''), an introducing broker (``IB''), commodity trading advisor (``CTA''), or commodity pool operator (``CPO'') in connection with commodity interest transactions solely on behalf of persons located outside the U.S., or on behalf of certain international financial institutions, would qualify for an exemption from registration with the Commission.