The Commodity Futures Trading Commission’s Office of General Counsel has issued a no-action letter permitting the offer and sale in the US of Turkish Derivatives Exchange’s futures contract based on the Istanbul Stock Exchange 30 Stock Index.
The ISE-30 is a broad-based, free-float, market-capitalisation-weighted, composite index of 30 highly capitalised and actively traded stocks currently listed on the National Market of the ISE, accounting for 70 per cent of Turkey’s market volume and market capitalisation.
