Commodity Futures Trading Commission has issued an order withdrawing the proposed rules released in March regarding access to automated boards of trade. It also announced it would immediately begin processing no-action requests from foreign boards of trade seeking to place trading terminals in the United States. Simultaneously, it plans to initiate processes for addressing the different regulatory levels between U.S. and foreign electronic trading systems. The Futures Industry Association commended the CFTC for its actions. "The Commissions actions have put the CFTC back on course, allowing firms to proceed with business plans frustrated by the moratorium and proposed rules, said FIA chairman Ronald M. Hersch, senior managing director, Bear Stearns.