SECTION 1. PURPOSE

This Revenue Procedure contains procedures that an exchange may follow to enable the Internal Revenue Service to determine whether certain persons trading on that exchange qualify as “dealers” under section 1256(g)(9) of the Internal Revenue Code (the “Code”). It is expected that, after the issuance of a letter ruling to a specific exchange determining whether a specific category of persons trading securities futures contracts (and options on such contracts) on that exchange qualifies for dealer status under section 1256(g)(9), the Service will publish the same conclusion in a revenue ruling.