Washington, DC – The Commodity Futures Trading Commission's (CFTC's) Office of General Counsel today announced that it issued a no-action letter on June 28, 2011, permitting the offer and sale in the United States of Bursa Malaysia Derivatives Berhad’s futures contract based on the FTSE Kuala Lumpur Composite Index (“KLCI” or “Index”).
The KLCI is a broad-based, free-float, market-capitalization-weighted, composite index of 30 highly capitalized and actively traded stocks currently listed on the Main Board of the Bursa Securities Berhad. The Index provides a performance benchmark for the Malaysian equity market. As of May 17, 2011, the total adjusted market capitalization of the KLCI was approximately US $265 billion.
This is a product approval only. U.S. customers may trade approved foreign exchange-traded products through a registered futures commission merchant (FCM) which is either a member of the foreign exchange on which that product is listed or which has established an omnibus account with a clearing member on that exchange, or directly through a member of the foreign exchange that has been granted exemptive relief pursuant to Commission Regulation 30.10. For more information on foreign markets, products, and intermediaries, please see the Commission's website (see Related Document link).