Number: 15-96 Date: March 25, 1996
Washington, D.C. -- On March 12, 1996, the Commodity Futures Trading Commission (CFTC) amended rule 30.3(a) to eliminate the requirement that the CFTC issue an order authorizing the offer and sale of a particular foreign exchange-traded commodity option before it can be offered or sold in the United States. While an option order under rule 30.3(a) is no longer required under any circumstances, the rule change does not affect existing Commodity Exchange Act (CEA) product restrictions related to stock indices and foreign government debt (see CEA section 2(a)(1)(B)(v) and Securities and Exchange Commission rule 3a12-8).
Therefore, under the rule amendment, if the underlying foreign exchange-traded futures product (including futures on stock indices and foreign government debt) may be offered or sold in the United States, the foreign option based on that futures contract may be offered or sold as well without further action.
The rule change is effective as of March 18, 1996 (see 61 FR 10891 (March 18, 1996)).