The Commodity Futures Trading Commission’s office of general counsel has announced the issues of no-action letters allowing futures contracts based on Korean and Thai equity indices to be
The Commodity Futures Trading Commission’s office of general counsel has announced the issues of no-action letters allowing futures contracts based on Korean and Thai equity indices to be marketed and sold in the US.
The no-action letters, issued on November 26, permit the offer and sale of the Thailand Futures Exchange’s futures contract based on the SET50 index and of the Korea Exchange’s futures contract based on the Kospi 200 stock index.
The SET50 is a broad-based, free float market capitalisation-weighted composite index of 50 of the most highly capitalised and liquid stocks listed for trading on the Stock Exchange of Thailand.
Based on data supplied by the Thailand Futures Exchange, the total adjusted market capitalisation of the stocks in the SET50 was USD137.9bn as of February 5 this year.
The Kospi 200 is a broad-based, free float market capitalisation-weighted index composed of 200 major stocks currently listed on the Korea Exchange, and is a widely recognised benchmark of stock market activity in South Korea.
Based on data supplied by the Korea Exchange, the free float-adjusted market capitalisation of the Kospi 200 was some USD495.4bn as of March 4.
