CFD providers then started to expand to overseas markets, starting with Australia in July 2002 by IG Markets and CMC Markets. CFDs have since been introduced into a number of other countries. They are available in Australia, Austria, Canada, Cyprus, France, Germany, Ireland, Israel, Italy, Japan, The Netherlands, Luxembourg, Norway, Poland, Portugal, Romania, Russia, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, United Kingdom and New Zealand. They are not permitted in a number of other countries – most notably the United States, where the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) prohibit CFDs from being listed on regulated exchanges due to their high-risk nature. The Securities and Futures Commission of Hong Kong totally forbid CFD trading. However, HK residents can trade CFD via oversea brokers.