For Release: April 2, 2008
CFTC Staff Allows Futures Contract Based on the Taiwan Stock Exchange Non-Finance Non-Electronic Sub-Index to Be Offered and Sold in the United States
Washington, DC – The Commodity Futures Trading Commission's (CFTC's) Office of General Counsel today announced that it issued a no-action letter permitting the offer and sale in the United States of the Taiwan Futures Exchange’s (TAIFEX) futures contract based on the Taiwan Stock Exchange Non-Finance Non-Electronic Sub-Index (XIF).
The XIF is a broad-based, market-capitalization-weighted security index composed of stocks that are listed for trading on the Taiwan Stock Exchange Corporation (TSEC) and that are not financial- or electronics-related stocks. Maintained by the TSEC, the XIF had stocks of 325 TSEC-listed companies as of October 31, 2007. Based on data supplied by TAIFEX, the total adjusted market capitalization of the XIF was approximately U.S. $234.2 billion.
For more information on foreign exchange-traded security index futures contracts pending no-action approval, see the “Foreign Products Available to U.S. Customers” in the Related Links section.
R. David Gary
Last Updated: April 2, 2008