The Commodity Futures Trading Commission’s (CFTC’s) Office of General Counsel today announced that it issued a no-action letter on August 26, 2009, permitting the offer and sale in the United States of full-sized and mini-sized futures contracts based on the Ibovespa Index (Ibovespa) listed on BM&F Bovespa, the Brazilian futures and securities exchange. The Ibovespa is a broad-based, liquidity-weighted, total return index of 66 of the most highly capitalized and liquid stocks, issued by 59 unaffiliated companies, that are currently listed on the BM&F Bovespa.
