CFTC News Release 4379-00

For Release March 14, 2000

 

CFTC Approves LIFFE's Futures Contract Based on the FTSE International Limited Eurotop 100 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 on March 10, 2000 (CFTC Letter No. 00-27) permitting the London International Financial Futures and Options Exchange's (LIFFE) futures contract on the FTSE International Limited Eurotop 100 Index (FTSE Eurotop 100) to be offered or sold in the United States.

The FTSE Eurotop 100, which as of October 29, 1999, had a total market capitalization of $3.88 trillion, is a broad-based, modified capitalization-weighted composite index of 100 of the most highly-capitalized and actively-traded stocks currently listed on nine major European stock exchanges. Stocks in the Eurotop 100 are diversified over 27 industry sectors, with no sector representing more than 15 percent of the index.

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