October 25, 2011
Washington, DC - The Commodity Futures Trading Commission's (CFTC's) Office of General Counsel today announced that it issued a no-action letter on October 24, 2011, permitting the offer and sale in the United States of Taiwan Futures Exchange’s futures contract based on the GTEX.
The GTEX is a broad-based, free-float, market-capitalization-weighted composite index of highly capitalized and actively traded stocks listed on the board of the GreTai Securities Market, a non-profit organization modeled after the NASDAQ. The GTEX index provides a performance benchmark for the Taiwanese over-the-counter securities market. As of September 12, 2011, the total adjusted market capitalization of the GTEX was approximately US $52 billion.
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).
Last Updated: October 25, 2011