Release: #4647-02
For Release: May 29, 2002

CFTC To Hold Open Meeting

Washington, D.C. – The Commodity Futures Trading Commission (CFTC) will hold an open Commission meeting at 3:00 p.m., on Thursday, May 30, 2002, to discuss three agenda items related to the trading of Security Futures Products. The tentative agenda items include two CFTC/Securities and Exchange Commission (SEC) joint orders and a final rule. Specifically, the orders involve:

• “Grandfather Order” – A joint order excluding from the definition of narrow-based security index those security indexes that qualified for the exclusion from that definition under section 1a(25)(B)(v) of the Commodity Exchange Act and section 3(a)(55)(C)(v) of the Securities Exchange Act of 1934; and

• ETF Order – A joint order that would permit security futures to be based on a share of an exchange-traded fund (ETF), a trust issued receipt (TIR), or a share of a registered closed-end management investment company.

The final rule addresses:

• SIPC/Seg – The applicability of CFTC and SEC customer protection, recordkeeping, reporting, and bankruptcy rules and the Securities Investor Protection Act of 1970 to accounts holding security futures products.

The meeting will take place at the Commission’s Washington, D.C. headquarters, Three Lafayette Centre, 1155 21^st Street, N.W., in the first floor hearing room. Meeting materials will be available on the day of the meeting, or afterward by contacting the Office of the Secretariat at (202) 418-5100.