UNITED STATES OF AMERICA
Before the

COMMODITY FUTURES TRADING COMMISSION

In the Matter of the Application of Cleartrade Exchange Pte. Limited
for Registration pursuant to Section 4(b)(1) of the Commodity
Exchange Act and Part 48 of the Regulations of the

Commodity Futures Trading Commission in order to permit

direct access to its order entry and trade matching system

ORDER OF REGISTRATION

Pursuant to Section 4(b)(1) of the Commodity Exchange Act (the Act), 7 U.S.C.

§ 6(b)(1), and Part 48 of the Commission’s regulations, Cleartrade Exchange Pte. Limited
(Cleartrade), a Recognized Market Operator subject to regulatory supervision by the Monetary
Authority of Singapore, submitted an application dated October 21, 2013 and including
supplemental submissions filed through May 2016 (the Application), requesting registration in
order to permit identified members and other participants located in the United States to enter
trades directly into its order entry and trade matching system.

The Commission has reviewed the Application along with the exhibits, supplemental
documents, and other supporting information and representations, and finds that Cleartrade has
demonstrated its ability to comply with the requirements of the Act and applicable Commission
regulations thereunder, including the requirements for registration as set forth in Part 48 of the
Commission’s regulations.

In light of the foregoing, IT IS ORDERED, pursuant to Section 4(b)(1) of the Act,

7TUS.C. § 6(b)(1), that Cleartrade is granted an Order of Registration to permit direct access, as


that term is defined in Section 4(b)(1)(A) of the Act, subject to the terms and conditions
specified herein:

(1) ~~ Compliance with the Act and Commission Regulations. Cleartrade shall comply,

and shall demonstrate compliance as requested by the Commission, with all sections of the Act
and the Commission’s regulations thereunder applicable to Cleartrade as a foreign board of trade
registered pursuant to Part 48 of the Commission’s regulations, as may be amended or adopted
from time to time. Cleartrade shall comply with the applicable conditions of registration
specified in Commission regulation 48.8 and any additional conditions that the Commission
deems necessary and may impose, in its discretion, after appropriate notice and opportunity to
respond. Cleartrade shall fulfill each of the representations it has made in support of the
Application for registration.

(2) New Regulations. Should the Commission promulgate a regulation addressing or
otherwise affecting any aspect of this Order, then such regulation will apply and supersede the
applicable terms in this Order.

(3) Reservation of Rights. This Order is based upon the representations made and
supporting material provided to the Commission by Cleartrade as part of the Application. In the
event of any changes to or omissions in the material facts or circumstances pursuant to which this
Order is issued, or for any reason in the Commission’s discretion and after appropriate notice and
opportunity to respond, the Commission may condition, modify, suspend, terminate, or otherwise
restrict the terms of this Order, as appropriate and as permitted by law, on its own motion.

Issued in Washington, D.C. this 1st day of June, 2016.

By the Commission

ML | Pebip.
Christopher J° Kirkpatrick
Secretary of the Commission