For Release: April 27, 1998
Commodity Futures Trading Commission Extends the
Comment Period on Certain Parts of the Concept Release Concerning
the Regulation of Noncompetitive Transactions Executed on or
Subject to the Rules of a Contract Market
Washington - On January 16, 1998, the Commodity
Futures Trading Commission (Commission) issued a Concept Release
concerning the regulation of noncompetitive transactions executed on
or subject to the rules of a contract market. Through this release,
the Commission solicited comments on a broad range of questions
concerning the oversight of transactions involving (i) the exchange of
futures contracts for, or in connection with, cash commodities, (ii)
other noncompetitive transactions, and (iii) the use of execution
facilities for noncompetitive transactions. The Concept Release was
initially published for public comment on January 26, 1998 (63 FR
3708) with comments on the release due by March 27, 1998. In response
to a request from the Coffee, Sugar and Cocoa Exchange, Inc., the
Commission extended the comment period for an additional 30 days,
until April 27, 1998.
The Commission has received a request from the Futures Industry
Association Inc., to extend the comment period on certain parts of the
Concept Release which relate to block trading. The Commission has
decided to grant this request. The extended deadline for comments on
the issues raised in section III.A.3. (Alternative Execution
Procedures) of the Concept Release is September 1, 1998. To the extent
that comments on sections III.B. (Qualifying Standards), III.C.
(Continuing Regulatory Requirements), and IV. (Execution Facilities
for Noncompetitive Transactions Executed on or Subject to the Rules of
a Contract Market) relate to the block trading issues raised in
section III.A.3. of the Concept Release, they also may be received on
or before September 1, 1998.
The deadline for comments on all other issues raised in the Concept
Release remains April 27, 1998.
Any person interested in submitting written data, views, or arguments on the Concept Release 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, D.C. 20581. In addition, comments may be sent by facsimile transmission to facsimile number (202) 418-5521, or by electronic mail to firstname.lastname@example.org.