August 18, 2010
CFTC Staff Allows Turkish Derivatives Exchange’s Futures Contract Based on the Istanbul Stock Exchange 30 Stock Index to be Offered and Sold in the United States
The Commodity Futures Trading Commission’s (CFTC’s) Office of General Counsel yesterday issued a no-action letter permitting the offer and sale in the United States of Turkish Derivatives Exchange’s futures contract based on the Istanbul Stock Exchange 30 Stock Index (ISE-30).
The ISE-30 is a broad-based, free-float, market-capitalization-weighted, composite index of 30 highly capitalized and actively traded stocks currently listed on the “National Market” of the ISE, accounting for 70 percent of Turkey’s market volume and market capitalization.
