Release:        4519-01
For Release: May 23, 2001

CFTC Staff Allows the Tokyo Stock Exchange's Futures Contract Based on the S&P/TOPIX 150 Index to be Offered and Sold in the United States

WASHINGTON -- The Commodity Futures Trading Commission's (CFTC's) Office of General Counsel issued a no-action letter on May 23, 2001, permitting the offer and sale in the United States of the futures contract based on the S&P/TOPIX 150 Index and traded on the Tokyo Stock Exchange (TSE).

The S&P/TOPIX 150 Index is a broad-based, modified capitalization-weighted composite index consisting of 150 of the most highly-capitalized and actively-traded stocks listed on the TSE. Based on data supplied by TSE, the total market capitalization of the S&P/TOPIX 150 Index was approximately U.S. $1.394 trillion as of April 27, 2001.

• For information on foreign exchange-traded stock index futures contracts pending no-action approval with the CFTC's OGC, see the Foreign Instrument Approvals & Exemptions Backgrounder at www.cftc.gov/opa/backgrounder/opapart30.htm.

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