Rex Tillerson will oversee new derivatives trading website that’s not owned by Rex Tillerson
The Trump administration on Thursday unveiled a new derivatives exchange to help U.S. companies use their own money for trading products, a move that could open up the door to more trading for foreign investors, analysts said.
The Trump administration said it was creating the new website, which will be used by companies like Rex Tillerson’s Exxon Mobil Corp. and other U.s. multinationals, to make derivatives trading more transparent and to better protect U.-siders.
The new website is separate from a similar service that Tillerson’s company, Tillerson & Partners, launched in the United States in 2012.
The new website will allow U. of S. companies to trade with other countries without having to pay for the services of a third party, according to a statement from the Trump administration.
The U.K.-based company said the new service is a part of an effort to bring the derivatives market in line with the U. S. market, which it calls “an efficient and cost-effective way to buy and sell products around the world.”
The website, called Derivative Trading, will be available to U. and international investors as soon as the end of this month, the statement said.
A company that provides derivative trading services for U. s. companies and financial institutions said it will not be using the new site.
But analysts and experts said the move was a signal that the Trump Administration will push the U to make more derivatives trading available to foreign investors.
The move will likely put more pressure on the U., a major trading partner for Exxon Mobil, which has faced increased scrutiny from regulators after a series of scandals involving its trading practices.
The company has also faced criticism for its handling of climate change, including its use of coal as a primary fuel source in its refineries.
U.S.-based companies will be able to trade on Derivatives Trading if they can establish an account with the company.
But companies can only use a foreign company to do this if they also hold an account in the U, the company said.
It will not charge a fee for using the platform, but a fee will be assessed for each trading transaction.
A U.N. agency is monitoring whether the new platform will increase the transparency of the derivatives trading market.
On Tuesday, the U of S said it would take over the reins for Derivate trading, which is based in the Cayman Islands.
The move to create a derivatives trading site comes as the Trump Organization is facing criticism for the way it handles its business and other conflicts of interest.
The New York Times has reported that Trump was paid $1.3 million by an oil company that owned stock in his businesses to influence its board decisions, and that the president’s businesses also paid him millions of dollars in consulting fees and other benefits for speeches he gave in his name.
The Times also reported that two of the president�s businesses, the Trump Hotel and the Trump International Hotel in Washington, D.C., have been hit with multiple ethics probes, including a review by the Office of Government Ethics.