For Release: June 14, 2001
CFTC Staff Allows MEFF Renta Variable’s Futures Contracts Based on the S&P Euro Index and the S&P Europe 350 Index to be Offered and Sold in the United States
WASHINGTON -- The Commodity Futures Trading Commission's (CFTC's) Office of General Counsel (OGC) issued a no-action letter on June 14, 2001, permitting the offer and sale in the United States of futures contracts based on the S&P Euro Index and the S&P Europe 350 Index traded on the Spanish derivatives exchange, MEFF Renta Variable (MEFF RV).
The S&P Euro Index and the S&P Europe 350 Index are both broad-based, modified capitalization-weighted composite indices designed and administered by Standard and Poors Corporation. Based on data supplied by MEFF RV, the total market capitalizations of the S&P Euro Index and the S&P Europe 350 Index were U.S. $3.7 trillion and U.S. $6.91 trillion, respectively, as of August 31, 2000.
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