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e7-25344

  • [Federal Register: December 31, 2007 (Volume 72, Number 249)]

    [Proposed Rules]

    [Page 74213]

    From the Federal Register Online via GPO Access [wais.access.gpo.gov]

    [DOCID:fr31de07-15]

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    COMMODITY FUTURES TRADING COMMISSION

    17 CFR Part 150

    RIN 3038-AC51

    Revision of Federal Speculative Position Limits

    AGENCY: Commodity Futures Trading Commission.

    ACTION: Reopening of comment period.

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    SUMMARY: The Commodity Futures Trading Commission is reopening the

    period for public comment to provide interested persons additional time

    to comment on certain proposed amendments pertaining to the Federal

    speculative position limits for agricultural commodities.

    DATES: Comments must be received by January 21, 2008.

    ADDRESS: Comments should be submitted to David A. Stawick, Secretary,

    Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st

    Street, NW., Washington, DC 20581. Comments may be sent by facsimile to

    202.418.5521, or by e-mail to secretary@cftc.gov. Reference should be

    made to the ``Proposed Revision of Federal Speculative Position

    Limits.'' Comments may also be submitted through the Federal

    eRulemaking Portal at http://frwebgate.access.gpo.gov/cgi-bin/leaving.cgi?from=leavingFR.html&log=linklog&to=http://www.regulations.gov http://www.regulations.gov.

    FOR FURTHER INFORMATION CONTACT: Don Heitman, Attorney, Division of

    Market Oversight, Commodity Futures Trading Commission, Three Lafayette

    Centre, 1155 21st Street, NW., Washington, DC 20581, telephone (202)

    418-5041, facsimile number (202) 418-5507, electronic mail

    dheitman@cftc.gov; or Martin Murray, Economist, Division of Market

    Oversight, telephone (202) 418-5276, facsimile number (202) 418-5507,

    electronic mail mmurray@cftc.gov.

    SUPPLEMENTARY INFORMATION: The Commission is reopening the period for

    public comment on proposed amendments to regulation 150.2.\1\ The

    amendments were proposed on November 21, 2007 and the comment period

    initially closed on December 21, 2007.\2\ The amendments, if adopted by

    the Commission, would increase the Federal speculative position limits

    enumerated in regulation 150.2 for all single-month and all-months-

    combined positions in all commodities except oats, pursuant to

    parameters specified in Commission regulation 150.5(c). The amendments

    would also aggregate positions in all designated contract market

    products that share substantially identical terms with the contracts

    enumerated in regulation 150.2 for the purposes of ascertaining

    compliance with the Federal speculative position limits.

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    \1\ 17 CFR 150.2.

    \2\ 72 FR 65783 (November 21, 2007).

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    By letter dated December 7, 2007, the National Grain and Feed

    Association, an association representing companies that utilize

    exchange traded agricultural contracts to manage price and inventory

    risks,\3\ and by letter dated December 14, 2007, the American Bakers

    Association, an association representing the interests of the wholesale

    baking industry,\4\ requested an extension of the comment period to

    better develop a response to Commission's proposed amendments. While

    the Commission has received commentary on the proposed amendments,\5\

    it believes that it would be appropriate to reopen the comment period

    to ensure that an adequate opportunity is provided for the submission

    of additional meaningful and substantive comments. Accordingly, the

    Commission has determined to reopen the comment period for the proposed

    amendments to regulation 150.2 to January 21, 2008. The Commission

    notes that it will give full consideration to any comment received in

    the interval between the closing and reopening of the comment period

    for the proposed amendments.

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    \3\ Letter from Rod Clark, Chair, Risk Management Committee,

    National Grain and Feed Association, to David A. Stawick, Secretary

    of the Commission (December 7, 2007) (on file with the Commission).

    \4\ Letter from Lee Sanders, Senior Vice President, Government

    Relations & Public Affairs, Corporate Secretary, American Bakers

    Association, to David A. Stawick, Secretary of the Commission

    (December 14, 2007) (on file with the Commission).

    \5\ Comment File: 07-014, available at http://http://www.cftc.gov/LawRegulation/PublicComments/07-014.html

    .

    Issued in Washington, DC, on December 21, 2007 by the

    Commission.

    David A. Stawick,

    Secretary of the Commission.

    [FR Doc. E7-25344 Filed 12-28-07; 8:45 am]

    BILLING CODE 6351-01-P

    Last Updated: May 9, 2012



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