Release: #4137-98
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 secretary@cftc.gov.