[Federal Register: January 13, 1998 (Volume 63, Number 8)]


[Page 1959]

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





Application of FutureCom, LTD. as a Contract Market in Live

Cattle Futures and Options

AGENCY: Commodity Futures Trading Commission.

ACTION: Extension of comment period on notice of application of

FutureCom, LTD. for initial designation as a contract market for the

automated trading over the internet of cash-settled live cattle futures

and options contracts.


SUPPLEMENTARY INFORMATION: FutureCom has applied for designation as a

contract market for the automated internet-based trading of cash-

settled live cattle futures and options. FutureCom has not previously

been approved by the Commission as a contract market in any commodity,

thus, in addition to the terms and conditions of the proposed futures

and options contracts, FutureCom has also submitted proposed trading

rules, rules of government, and other materials to meet the

requirements for a board of trade seeking initial designation as a

contract market. Notice of FutureCom's application was initially

published under delegated authority for public comment on January 31,

1997 (62 FR 4730). The proposal was republished for comment under

delegated authority on November 24, 1997 (62 FR 62566) for a 30-day

comment period ending December 24, 1997. Acting pursuant to the

authority delegated by Commission Regulation 140.96, the Division of

Trading and Markets ("Division") has determined to extend for 30 days

the deadline for comments on the notice of application of FutureCom to

be designated as a first-time contract market. The Division believes

that extension of the deadline for comment is in the public interest,

will assist the Commission in considering the views of interested

persons, and is consistent with the purposes of the Commodity Exchange

Act. The Division seeks comment regarding all aspects of FutureCom's

application and addressing any issues commenters believe the Commission

should consider.

    Any person interested in submitting written data, views, or

arguments on the proposal to designate FutureCom should submit their

views and comments by the specified date to Jean A. Webb, Secretary,

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

Street, N.W., Washington, DC 20581. In addition, comments may be sent

by facsimile transmission to facsimile number (202) 418-5521, or by

electronic mail to secretary@cftc.gov. Reference should be made to the

FutureCom application for designation as an automated contract market

for live cattle futures and options. Copies of the proposed terms and

conditions, Exchange rules, compliance procedures, clearing and

settlement description, and other related materials are available for

inspection at the Office of the Secretariat at the above address.

Copies also may be obtained through the Office of the Secretariat at

the above address or by telephoning (202) 418-5100. Some materials may

be subject to confidential treatment pursuant to 17 CFR 145.5 or 145.9.

Requests or copies of such materials should be made to the FOI, Privacy

and Sunshine Act Compliance Staff of the Office of the Secretariat at

the Commission headquarters in accordance with 17 CFR 145.7 and 145.8.

DATES: Comments must be received on or before January 26, 1998.

FOR FURTHER INFORMATION CONTACT: With respect to questions about the

terms and conditions of the proposed futures and option contracts,

please contact Fred Linse of the Division of Economic Analysis,

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

Street NW, Washington, DC 20581; Telephone: (202)418-5273; Facsimile

number: (202)418-5527; or Electronic mail: flinse@cftc.gov. With

respect to questions about the trading rules and rules of government,

please contact Lois Gregory, Division of Trading and Markets, at the

same address; Telephone: (202)418-5483; Facsimile number: (202)418-

5536; or Electronic mail: lgregory@cftc.gov.

    Issued in Washington, D.C., on January 6, 1998.

Alan L. Seifert,

Deputy Director.

[FR Doc. 98-785 Filed 1-12-98; 8:45 am]


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