The CFTC's Office of General Counsel has issued a no-action letter permitting the offer and sale in the USA of a Mexican Derivatives Exchange futures contract.

The Mexican Derivatives Exchange's (MexDer's) futures contract is based on the Mexican Stock Exchange's Price and Quotation Index (IPC).

The IPC is a broad-based, market-capitalization-weighted composite security index of highly capitalized and actively traded stocks currently listed on the Mexican Stock Exchange. Based on data supplied by MexDer, the total market capitalization of the IPC was approximately USD 155.6 billion as of August 30, 2005.

For further 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