4(a), 4(b), and 5 of the Commodity Exchange Act;
The Division of Trading and Markets (Division) issued a follow-up letter to the Deutsche Terminbosre (DTB) regarding the status of the Division's February 29, 1996, no-action letter permitting the placement of DTB computer terminals in the U.S. This new letter was issued in light of the pending merger between the DTB and the Swiss Options and Financial Futures Exchange (SOFFEX) to create a futures exchange organization called Eurex. The Division confirmed that eleven firms pending DTB membership, which were identified by the DTB to the Division, will be eligible to rely on the 1996 no-action position with respect to DTB terminal placement once they become DTB members and otherwise satisfy the conditions set forth in the 1996 letter. Other new DTB members, including current or future SOFFEX members, are not eligible to take advantage of the 1996 no-action position with respect to DTB terminal placement unless they receive separate written approval from the Division. The Division also clarified that the 1996 letter by its terms applies only to the execution by DTB members of transactions involving DTB futures and options products, and it does not extend to SOFFEX products or to new DTB/Eurex products unless the DTB receives separate written approval from the Division.