Cboe Europe Notifies SEC of Intent to "Familiarize" U.S. Investors with Its Options

Cboe Europe B.V. ("Cboe Europe") notified the SEC Division of Trading and Markets (the "Division") that it intends to rely on the class no-action relief issued in July 2013 to engage in familiarization activities as to "Eligible Options" traded on its exchange with "Eligible Broker-Dealers / Eligible Institutions" in the United States.

As previously covered, the July 2013 class relief provides foreign options markets that have not yet received no-action relief from the Division - such as Cboe Europe - class relief to engage in familiarization activities following notice to the Division Director of an intent to do so and representation that conditions of the relief have been met.

Cboe Europe's letter represented to the SEC that it satisfied all conditions of the July 2013 relief. Per the terms of the class relief, the Division will not recommend enforcement under Section 5 ("Transactions on Unregistered Exchanges"), 6 ("National Securities Exchanges"), 15 ("Registration and Regulation of Brokers and Dealers") or 17A ("National System for Clearance and Settlement of Securities Transactions") of the Exchange Act.