[Federal Register: December 7, 1998 (Volume 63, Number 234)]
[Page 67461-67462]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]



Applications of the New York Mercantile Exchange for Designation
as a Contract Market in PJM Electricity Futures and Options, Submitted
Under 45-Day Fast Track Procedures

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of proposed terms and conditions for
applications for contract market designation.


SUMMARY: The New York Mercantile Exchange (NYMEX or Exchange) has
applied for designation as a contract market in PJM (Pennsylvania-
Maryland-New Jersey) electricity futures and

[[Page 67462]]

option contracts. The proposals were submitted under the Commission's
45-day Fast Track procedures. The Director of the Division of Economic
Analysis (Division) of the Commission, acting pursuant to the authority
delegated by Commission Regulation 140.96, has determined that
publication of the proposals 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

DATES: Comments must be received on or before December 22, 1998.

ADDRESSES: Interested persons should submit their views and comments to
Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three
Lafayette Centre, 1155 21st Street, NW 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 NYMEX PJM electricity futures and option

FOR FURTHER INFORMATION, CONTACT: Please contact Joseph Storer of the
Division of Economic Analysis, Commodity Futures Trading Commission,
Three Lafayette Centre, 21st Street NW, Washington, DC 20581, telephone
(202) 418-5282. Facsimile number: (202) 418-5527. Electronic mail:

SUPPLEMENTARY INFORMATION: The proposed designation applications were
submitted pursuant to the Commission's Fast Track procedures for
streamlining the review of futures contract rule amendments and new
contract approvals (62 FR 10434). Under those procedures, the
proposals, absent any contrary action by the Commission, may be deemed
approved at the close of business on January 11, 1999, 45 days after
receipt of the proposals. In view of the limited review period provided
under the Fast Track procedures, the Commission has determined to
publish for public comment notice of the availability of the terms and
conditions for 15 days, rather than 30 days as provided for proposals
submitted under the regular review procedures.
    Copies of the proposed terms and conditions will be available for
inspection at the Office of the Secretariat, Commodity Futures Trading
Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC
20581. Copies can be obtained through the Office of the Secretariat by
mail at the above address, by phone at (202) 418-5100, or via the
internet on the CFTC website at 222.cftc.gov under "What's New &
    Other materials submitted by the NYMEX in support of the proposals
may be available upon request pursuant to the Freedom of Information
Act (5 U.S.C. 552) and the Commission's regulations thereunder (17 CFR
Part 145 (1997)), except to the extent they are entitled to
confidential treatment as set forth in 17 CFR 145.5 and 145.9. Requests
for copies of such materials should be made to the FOI, Privacy and
Sunshine Act Compliance Staff of the Office of Secretariat at the
Commission's headquarters in accordance with 17 CFR 145.7 and 145.8.
    Any person interested in submitting written data, views, or
arguments on the proposals, or with respect to other materials
submitted by the NYMEX, should send such comments to Jean A. Webb,
Secretary, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street NW, Washington, DC 20581 by the specified

    Issued in Washington, DC, on December 1, 1998.
Steven Manaster,
[FR Doc. 98-32403 Filed 12-4-98; 8:45 am]

======== RETURN TO INDEX ========