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Texas Insurance Code - INS § 424.204. Trading Requirements for Derivative Instruments

Current as of January 01, 2024 | Updated by Findlaw Staff

Each derivative instrument must be:

(1) traded on a securities exchange;

(2) entered into with, or guaranteed by, a business entity;

(3) issued or written by, or entered into with, the issuer of the underlying interest on which the derivative instrument is based; or

(4) in the case of futures, traded through a broker who is:

(A) registered as a futures commission merchant under the Commodity Exchange Act (7 U.S.C. Section 1 et seq.), as amended; or

(B) exempt from that registration under 17 C.F.R. Section 30.10, adopted under the Commodity Exchange Act (7 U.S.C. Section 1 et seq.), as amended.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 424.204. Trading Requirements for Derivative Instruments - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-424-204/

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