CFTC Allows Taiwan GreTai GTEX Futures in the US
The Commodity Futures Trading Commission’s (CFTC’s) Office of General Counsel announced October 25 that it issued a no-action letter on October 24, 2011, permitting the offer and sale in the United States of Taiwan Futures Exchange’s futures contract based on the GTEX.
The GTEX is a broad-based, free-float, market-capitalization-weighted composite index of highly capitalized and actively traded stocks listed on the board of the GreTai Securities Market, a non-profit organization modeled after the NASDAQ. The GTEX index provides a performance benchmark for the Taiwanese over-the-counter securities market. As of September 12, 2011, the total adjusted market capitalization of the GTEX was approximately US $52 billion.