For Release: January 22, 2009
Washington, D.C. – The Commodity Futures Trading Commission's (CFTC's) Office of General Counsel today announced that it issued a no-action letter on January 16, 2009, permitting the offer and sale in the United States of Hong Kong Futures Exchange Limited’s (HKFE) mini futures contracts based on the Hang Seng Index (HSI) and the Hang Seng China Enterprises Index (HSCEI), respectively.
The HSI is a broad-based, modified-free-float-adjusted market-capitalization-weighted index designed to reflect the performance of the overall Hong Kong stock market. The HSCEI is a broad-based, modified-free-float-adjusted-market-capitalization-weighted index composed of all H-share common stocks that are listed on the Stock Exchange of Hong Kong and are included in the Hang Seng Composite Index.
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: January 22, 2009