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CFTC permits US sales of Taiwan Futures Exchange’s GTEX futures contracts

The Commodity Futures Trading Commission's (CFTC's) Office of General Counsel has issued a no-action letter on 24 October, 2011, permitting the offer and sale in the United States of Taiwan Futures Exchange’s futures contract based on the GTEX.

The GTEX is a broad-based, free-float, market-capitalisation-weighted composite index of highly capitalised and actively traded stocks listed on the board of the GreTai Securities Market, a non-profit organisation modelled after the NASDAQ.  The GTEX index provides a performance benchmark for the Taiwanese over-the-counter securities market.  As of 12 September, 2011, the total adjusted market capitalisation of the GTEX was approximately USD52 billion.


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