U.S. COMMODITY FUTURES TRADING COMMISSION

Three Lafayette Centre 

1155 21st Street, NW, Washington, DC 20581 

Telephone: (202) 418-5120 

Facsimile: (202) 418-5524

www.cftc.gov

Office of General Counsel

CFTC letter No. 07-04 

April 17, 2007 

No-Action 

Office of General Counsel 

Ms. Gila Mörée 

Legal Counsel 

OMX 

Nordic Marketplaces 

Stockholm Stock Exchange, Ltd. 

SE-105 78 Stockholm, SWEDEN 

Re: Request for No-Action Relief to Offer and Sell in the United States Stockholm Stock 

 Exchange Ltd.’s Standardized Futures Contract Based on the OMXS30 Index 

Dear Ms. Mörée: 

 This letter is in response to your letter, attachments and electronic mail dated from 

December 21, 2006, to April 2, 2007, requesting on behalf of the Stockholm Stock Exchange, 

Ltd. (“SSE”), that the Office of General Counsel (“Office”) issue no-action relief to offer and 

sell in the United States SSE’s standardized futures contracts based on the OMXS30 Index 

(“OMXS30”).1

 We understand that the OMXS30 is the same index concerning which this Office issued 

no-action relief for the offer and sale in the United States of futures contracts based thereon listed 

on OM Stockholm AB in 1998 (“1998 no-action relief”).2

 The OMXS30 was then known as the 

OMX Stock Index. The new name reflects a name change of the index only. In addition, SSE is 

the same legal entity as OM Stockholm AB, to which the 1998 no-action relief was granted, but 

reflects a business name change. Finally, the terms and conditions of SSE’s standardized futures 

contract generally are identical to those that existed when this Office issued the 1998 no-action 

relief, except that the current contract provides for daily cash settlement, whereas the contract for 

which relief was issued was cash settled only upon expiration.3

 

1

 You also requested no-action relief with respect to SSE’s standardized futures contract based 

on the VINX30 Index. That request will be considered separately. 

2

 CFTC Staff Letter No. 98-41, [1996-1998 Transfer Binder] Comm. Fut. L. Rep. (CCH) 

¶ 27,364 (June 3, 1998). 

3 See electronic mail from Gila Mörée, Legal Counsel, OMX to Julian E. Hammar, Counsel, 

CFTC, dated April 2, 2007. 
2

 In our view, these changes in the facts and circumstances from those that were considered 

by this Office in 1998 are not material changes that would warrant a different conclusion from 

that reached in the 1998 letter to grant no-action relief. Accordingly, this Office confirms that 

the 1998 no-action relief applies to SSE’s standardized futures contract based on the OMXS30. 

Because this letter is based upon the facts and representations contained in your December 21, 

2006 letter, attachments thereto and supplemental electronic mail, it should be noted that any 

different, omitted or changed facts or conditions might require a different conclusion. This 

position also is contingent upon SSE’s continued compliance with the terms and conditions of 

the 1998 no-action relief and the applicable laws and regulations of Sweden. 

 If you have any questions concerning this correspondence, please feel free to contact me 

at (202) 418-5120.

 Sincerely, 

 Elizabeth L. Ritter 

 Deputy General Counsel