CFTC News Release 4373-00
For Release March 6, 2000
CFTC Approves MONEP Exchange's Futures Contracts Based on the Dow Jones STOXX 50 Index and the Dow Jones EURO STOXX 50 Index to be Offered or Sold in the United States
WASHINGTON -- The Commodity Futures Trading Commission's Office of General Counsel (OGC) issued a no-action letter (CFTC Letter No. 00-21) permitting the MONEP Exchange's futures contracts based on the Dow Jones STOXX 50 Index (STOXX 50 Index) and the Dow Jones EURO STOXX 50 Index (EURO STOXX 50 Index) to be offered or sold in the United States.
Both the STOXX 50 Index and the EURO STOXX 50 Index are broadly diversified. As of October 5, 1999, the STOXX 50 Index included stocks from nine European countries and 18 industry sectors; the EURO STOXX 50 Index included stocks from seven countries and 19 industry sectors, with market capitalization of 2.83 trillion euros ($3.023 trillion) and 1.925 trillion euros ($2.057 trillion), respectively. The MONEP Exchange is a subsidiary of the PARISBOURSE SA.
(Note: the EUREX Exchange's Dow Jones STOXX 50 and Dow Jones EURO STOXX indices are still pending no-action approval with the Commission's OGC; see CFTC BACKGROUNDER, Foreign Instruments Approvals & Exemptions, March 6, 2000, at http://www.cftc.gov/cftc/cftcreports/htm.)
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