Design and Structure. 1. The maximum height allowed for the booth structure is 4 m (the structural height of booths in Area H on the second floor of TWTC Hall 1 shall not exceed 2.3 m). For decorations of booths facing the walkway, the length of their walls must be less than 50 percent of the length of the booth, and the length of sealed walls must not exceed 9 m. If there are any special needs, the leaseholder shall submit an application to the organizer and obtain its approval before construction.
Design and Structure. The Commission believes that it is appropriate for the Exchange to designate the Xxxxxx Xxxxxxx Multinational Company Index as a broad-based index for purposes of index option trading. Specifically, the Commission believes that the Index is broad-based because, among other reasons, it contains 50 actively-traded stocks representing 27 industry groups, and thus reflects a substantial segment of the U.S. equities market. Accordingly, the Commission believes that it is appropriate for the Exchange to apply its rules governing broad-based index options to trading in the Index options. The Commission also finds that the large capitalizations, liquid markets, and relative weightings of the Index’s component stocks significantly minimize the potential for manipulation of the Index as well as provide a sufficient basis for the Index’s maintenance standards. 13 First, the Index represents and consists of the common stock values of 50 actively- traded domestic companies. Second, as of July 17, 1996, no one stock comprised more than 7.33 % of the Index’s value, and the five highest weighted stocks accounted for only 28.8 % of the Index’s value. Third, the stocks that comprise the index are actively-traded, with an average daily trading volume for Index components during the six-month period ending July 16, 1996 of 1.93 million shares. Fourth, as of July 17, 1996, the market capitalizations of the stocks in the Index were substantial, ranging from high of $138.2 billion (General Electric Co.) to a low of $4.7 billion (Becton Xxxxxxxxx Inc.). The median capitalization of th efirms in the Index was $29.33 billion, while the average capitalization of the Index components was $37.1 billion. Fifth, the Index is comprised of stocks representing a diverse group of 27 industries, including pharmaceuticals (15.57 %), crude/petroleum (9.26 %), and beverages (9.00 %). Sixth, all of the component securities currently are eligible for options trading and the maintenance standards require that at least 75 % of the index components remains options eligible. 14 Finally, the Commissoin believes that, as discussed below, existing mechanisms to monitor trading actvity in those securities will help to deter as well as to detect illegal trading activity involving Index options.
