RegAlert2005-11-23 | CFTC Staff Letter 05-23Added · Updated
CFTC Staff Letter 05-23 (No-Action): Eurex Deutschland’s request for no-action relief in connection with the offer and sale in the United States of its Dow Jones Italy Titans 30 Index Futures Contracts
The Office of General Counsel will not recommend enforcement action against Eurex Deutschland for offering or selling futures contracts based on the Dow Jones Italy Titans 30 Index in the United States, determining that the index is not narrow-based and the contract meets cash settlement and anti-manipulation criteria. This relief extends the no-action status granted in the August 10, 1999 letter, permitting Eurex to make the contracts available for trading through the electronic terminals of its US members. The decision is contingent on Eurex's continued compliance with German regulatory requirements and the availability of market surveillance information through existing information-sharing arrangements.
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U.S. COMMODITY FUTURES TRADING COMMISSION
Three Lafayette Centre
1155 21st Street, NW, Washington, DC 20581
Telephone: (202) 418-5120
Facsimile: (202) 418-5524
Office of General Counsel
CFTC letter No. 0-23
November 23, 2005
No-Action
Office of General Counsel
Edward J. Rosen, Esq.
Cleary, Gottlieb, Steen & Hamilton LLP
One Liberty Plaza
New York, NY 10006-1470
Re: Eurex Deutschland’s Request for No-Action Relief in Connection with the Offer and Sale in the United States of its Dow Jones Italy Titans 30 Index Futures Contract Dear Mr. Rosen:
This is in response to letters, attachments, facsimiles and electronic mail dated from September 23, 2004 to April 25, 2005, requesting on behalf of your client, Eurex Deutschland (“Eurex”), that the Office of General Counsel (“Office”) of the Commodity Futures Trading Commission (“Commission” or "CFTC") issue a “no-action” letter concerning the offer and sale in the United States (“US”) of Eurex’s futures contract based on the Dow Jones Italy Titans 30 Index (“DJIT 30” or “Index”). We understand the facts to be as follows. Eurex is a futures and options exchange located in Frankfurt, Germany and operated by Eurex Frankfurt AG.1 Eurex is regulated by and subject to active market surveillance by German regulatory agencies, including the Exchange Supervisory Authority in the State of Hesse, where Eurex and the Frankfurt Stock Exchange are located, and by the German Federal Financial Supervisory Agency (Bundesanstalt für Finanzdienstleistungsaufsicht) (the
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Source: Commodity Futures Trading Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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CFTC published 6 documents in the last 30 days. We email you each new one the day it's published.