Exemption of Debt Obligations Issued by the European Union Under the Securities Exchange Act of 1934 for Purposes of Trading Futures Contracts on Those Securities
- Published
- Sep 2, 2026
- Effective
- Sep 2, 2026
- Comments close
- Nov 2, 2026
- Citation
- 91 FR 56387
- Docket
- Release No. 34-106225, File No. S7-2026-29
Proposed rule.
Summary
The Securities and Exchange Commission (SEC) has proposed a rule that would classify debt securities issued by the European Union (EU) as “exempted securities” for the purpose of offering and trading futures contracts on those securities in the United States. By treating EU debt obligations the same way the SEC already treats other exempted securities, the rule would allow U.S. futures markets to list and trade contracts tied to EU government and agency bonds under the Commodity Exchange Act. The goal is to give U.S. investors easier, cheaper access to EU‑linked hedging and investment tools, broaden market depth, and encourage competition among clearinghouses and exchanges. The proposal was published on September 2, 2026 (91 FR 56387) and takes effect the same day, but it is not final. The SEC has opened a public comment period that runs until November 2, 2026, during which market participants, industry groups, and any interested parties can submit feedback. After the comment deadline, the Commission will review the input, possibly revise the rule, and then decide whether to adopt it as a final regulation, which would then become enforceable for futures brokers, exchanges, and U.S. persons who trade these contracts.
AI-generated summary — verify against the Federal Register text.
Official abstract
The Securities and Exchange Commission (the "Commission" or the "SEC") is proposing an amendment to designate debt obligations issued by the European Union as "exempted securities" for the purposes of marketing and trading futures contracts on those securities in the United States or to U.S. persons. The amendment is designed to permit futures trading on debt obligations issued by the European Union to be regulated as futures on "exempted securities," subject to the Commodity Exchange Act. The proposal is intended to increase U.S. persons' access to the market for these products, which may improve opportunities for hedging; lower transaction costs; contribute to greater market depth; reduce operational friction; and increase competition.
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