Bangkok--3 Dec--SET
Thailand Futures Exchange (TFEX) announced today that it received the no-action letter from the US Commodity Futures Trading Commission (CFTC) dated November 26, 2008, permitting the offer and sale in the US of SET50 futures contract.
The no-action letter issued by the staff of the CFTC states that they would not recommend enforcement action if SET50 Index Futures is offered and sold in the United States. Accordingly, U.S. registered futures commission merchants (FCMs) are now allowed to accept orders for SET50 Index Futures from investors located in the U.S. for purchase or sale.
The SET50 Index is a broad-based, free-float, market-capitalization-weighted composite index of 50 of the most highly-capitalized and liquid stocks currently listed on The Stock Exchange of Thailand (SET). TFEX is the first and only financial futures exchange in Thailand and is a SET subsidiary. SET50 Index Futures have been listed since April 28, 2006. In November 2008, the average daily trading of the SET50 Index Futures was 13,541 contracts and open interest was 32,937 contracts.
For more information regarding TFEX, please go to www.tfex.co.th or call TFEX’s Business Development Department at +662-229-2757, email: [email protected]