For Release: November 13, 2009
CFTC Staff Allows the Offer and Sale in the United States of the Tokyo Stock Exchange’s (TSE’s) Mini Futures Contract Based on the TOPIX and TSE’s Futures Contracts Based on the TOPIX Core30 Index and TSE REIT Index
Washington, DC – The Commodity Futures Trading Commission's (CFTC's) Office of General Counsel today announced that it issued a no-action letter on November 9, 2009, permitting the offer and sale in the United States of the Tokyo Stock Exchange’s (TSE) mini futures contract based on the TOPIX and TSE’s futures contracts based on the TOPIX Core30 Index and TSE Real Estate Investment Trust (REIT) Index.
The TOPIX is a broad-based, free-float-adjusted-market-capitalization-weighted index of all the common stocks and REITs included in the First Section of the TSE. The TOPIX Core30 is a broad-based, free-float-adjusted-market-capitalization-weighted index composed of 30 of the largest companies included in the TOPIX. The TSE REIT is a broad-based, free-float-adjusted-market-capitalization-weighted index comprised of the equity securities of all REITs listed on the TSE.
This is a product approval only. U.S. customers may trade approved foreign exchange-traded products through a registered futures commission merchant (FCM), which is either a member of the foreign exchange on which that product is listed or has established an omnibus account with a clearing member on that exchange or directly through a member of the foreign exchange that has been granted exemptive relief pursuant to Commission Regulation 30.10. For more information on foreign markets, products and intermediaries, please see the Commission's website (see Related Documents link).
For information on foreign exchange-traded security index futures contracts pending no-action approval with the CFTC's Office of General Counsel, see the CFTC’s website at http://services.cftc.gov/sirt/sirt.aspx?Topic=ForeignOrganizationProducts.
R. David Gary
Last Updated: April 2, 2010