CFTC News Release 4409-00

CFTC News Release 4409-00

For Release June 22, 2000

CFTC Staff Allows SGX-DT’s Futures Contract Based on the Morgan Stanley Capital International Singapore Free Stock Index to be Offered or Sold in the U.S.

WASHINGTON -- The Commodity Futures Trading Commission's Office of General Counsel issued a no-action letter on June 21, 2000, permitting the offer or sale in the United States of the Morgan Stanley Capital International Incorporated (MSCI) Singapore Free Stock Index futures contract traded on the Singapore Exchange Derivatives Trading, Limited (SGX-DT), successor to the Singapore International Monetary Exchange (SIMEX).

The MSCI Singapore Free Stock Index is a broad-based, modified capitalization-weighted composite index consisting of highly-capitalized and actively-traded stocks listed on Singapore Exchange Securities Trading, Limited. Based on data supplied by SGX-DT, the total market capitalization of the MSCI Singapore Free Stock Index was approximately U.S. $82 billion as of November 30, 1999.

For more information on foreign exchange-traded indices pending no-action approval with the Commission's OGC, see CFTC BACKGROUNDER, Foreign Instruments Approvals & Exemptions, at www.cftc.gov/opa/backgrounder/opapart30.htm

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