CFTC Staff Allows the Taiwan Futures Exchange’s Futures Contracts Based on the Taiwan Stock Exchange Capitalization Weighted Stock 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 2, 2004, permitting the offer and sale in the United States of the Taiwan Futures Exchange’s (TAIFEX’s) futures contracts based on the Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) – the TAIEX Futures Contract and the Mini TAIEX Futures Contract.
The TAIEX is a broad-based, market capitalization-weighted composite index
designed to reflect the overall performance of stocks traded on the Taiwan
Stock Exchange. Based on data supplied by TAIFEX, the total adjusted market
capitalization of the TAIEX was approximately U.S. $352.03 billion as of
November 27, 2003.
For information on foreign exchange-traded security index futures contracts pending no-action approval with the CFTC's OGC, see the Foreign Instrument Approvals & Exemptions Backgrounder at www.cftc.gov/opa/backgrounder/opapart30.htm.
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