Spirit of New Zealand Futures Industry Rules and Regulations

Futures are an established part of the world's financial markets, providing a means by which investors can obtain protection from fluctuations in commodity, currency, equities, interest rates and almost any instrument given today's sophisticated and technologically advanced markets. Intercontinental Financial Services Corporation (IFSCL) is an accredited New Zealand Exchange (NZX) Futures and Options Participant and, accordingly, is an authorized futures dealer under the Securities Market's Act. IFSCL is regulated by NZX based on the terms of the NZX Futures and Options Rules. IFSCL is also governed by The Futures Industry (Client Funds) Regulations 1990.

The New Zealand futures industry is governed by two principal Acts and Regulations:
1. The Securities Markets Act 1988 and
2. The Futures Industry(Client Fund) Regulations 1990.

While the Securities Markets Act requires the authorization of all futures dealers, the Client Fund Regulations prescribe the treatment of client funds and property of clients by futures dealers. This regulation provides important and critical safeguards for futures dealers such as separating of client funds from those of the futures dealers. The Regulations in New Zealand are consistent with proven practices in overseas jurisdictions, primarily in the U.S. and the U.K., and is the hallmark in enhancing the integrity and professionalism of the New Zealand market.