For Release: November 28, 2008
Washington, DC - The Commodity Futures Trading Commission's (CFTC’s) Office of General Counsel today announced that it issued a no-action letter on November 26, 2008, permitting the offer and sale in the United States of Thailand Futures Exchange Pcl’s (TFEX’s) futures contract based on the SET50 Index (SET50).
The SET50 is a broad-based, free-float market-capitalization-weighted composite index of 50 of the most highly capitalized and liquid stocks currently listed for trading on the Stock Exchange of Thailand. Based on data supplied by TFEX, the total adjusted market capitalization of the stocks in the SET50 was US$137.9 billion as of February 5, 2008.
This is a product approval only. U.S. customers may trade approved foreign exchange-traded products through a registered futures commission merchant (FCM) which is either a member of the foreign exchange on which that product is listed or which has established an omnibus account with a clearing member on that exchange, or directly through a member of the foreign exchange that has been granted exemptive relief pursuant to Commission Regulation 30.10. For more information on foreign markets, products, and intermediaries, please see the Commission's website (see Related Documents link).
R. David Gary
Last Updated: November 28, 2008