The No-Action Letter issued by the staff of the CFTC states that they would not recommend any enforcement action if the RN Prime Index Futures Contract is offered or sold in the United States. Accordingly, U.S. registered futures commission merchants (FCMs) are now allowed to accept orders for the RN Prime Index Futures Contract from investors located in the U.S. for purchase or sale.
The RN Prime Index is a Japanese equities index designed to meet investors’ needs, such as adopting a free float-adjusted market capitalization-weighted calculation, which is the mainstream globally as benchmarks for investment. With the receipt of this No-Action Letter, U.S. investors are expected to participate in trading of the RN Prime Index Futures Contract on OSE.
OSE already obtained No-Action Letters for the following contracts:
- Nikkei Stock Average Futures Contract (as of January 16, 1992 from CFTC)
- Nikkei Stock Index 300 Futures Contract (as of May 17, 1994 from CFTC)
- Nikkei Stock Average Options Contract (as of July 23, 1999 from SEC*)
- Nikkei Stock Index 300 Options Contract (as of July 23, 1999 from SEC)
- Equity Options Contract (as of July 23, 1999 from SEC)
- MSCI Japan Index Futures Contract (as of February 14, 2003 from CFTC)
- Trading in MSCI Japan Index Futures Contract has been currently suspended.
