March 24, 1993
TO: CLOSED-END FUND COMMITTEE NO. 9-93
RE: CBOE PROPOSAL TO LIST OPTIONS ON SINGLE COUNTRY FUNDS
__________________________________________________________
As we previously informed you, the Chicago Board Options
Exchange filed a request with the SEC for approval to list
options on shares of two particular closed-end funds: the Brazil
Fund and the Growth Fund of Spain. (See Memorandum to Closed-End
Fund Committee No. 30-92, dated November 19, 1992.) The CBOE has
now filed with the SEC a proposed rule change to request SEC
approval of uniform criteria for listing options on shares of
single country closed-end funds. This rule change would allow
the CBOE to list options on shares of these funds without having
to seek SEC approval in each instance. The SEC has published a
notice soliciting comment on the CBOE's proposal. Comments are
due on the proposal by April 6, 1993.
We will keep you informed of developments.
Amy B.R. Lancellotta
Associate Counsel
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