[Federal Register: November 6, 1997 (Volume 62, Number 215)]
[Notices]
[Page 60066-60067]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr06no97-30]

=======================================================================
-----------------------------------------------------------------------

COMMODITY FUTURES TRADING COMMISSION


Chicago Mercantile Exchange Proposed Amendments to the
Termination of Trading Provision for Expiring E-Mini Standard & Poor's
500 Stock Price Index Futures and Futures Option Contracts

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of proposed amendments to the
termination of trading provision for expiring E-Mini Standard & Poor's
500 Stock Price Index futures and futures option contracts.

-----------------------------------------------------------------------

SUMMARY: The Chicago Mercantile Exchange (CME) has submitted proposed
amendments to the termination of trading provision for

[[Page 60067]]

expiring the E-Mani Standard & Poor's 500 Stock Price Index (E-Mini S&P
500) futures and futures option contracts. 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 Act.

DATES: Comments must be received on or before November 21, 1997.

ADDRESSES: Interested persons should submit their views and comments to
Jean A. Webb, Secretary, Commodity Futures Trading Commission, 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 [email protected] Reference should be made to the
proposed amendments to the termination of trading provision of the E-
Mini S&P 500 futures and futures option contracts.

FOR FURTHER INFORMATION CONTACT: Please contact Michael Penick of the
Division of Economic Analysis, Commodity Futures Trading Commission,
1155 21st Street NW, Washington, DC 20581, telephone 202-418-5279.
Facsimile number: (202) 418-5527. Electronic mail: [email protected]

SUPPLEMENTARY INFORMATION: Under current rules, trading in expiring CME
E-Mini S&P 500 futures and options terminates at the close of the
regular trading session (i.e., 4:15 p.m. Eastern time) on the business
day immediately preceding the day scheduled for determination of the
final settlement price.\1\ That is, trading in expiring futures
contracts ceases on the business day before the third Friday of the
contract month. Under the proposal, trading in expiring futures and
options would terminate on the following day--i.e., at the opening of
trading at the New York Stock Exchange (9:30 a.m. Eastern time) on the
third Friday of the contract month, which is the day scheduled for
determination of the final settlement price. The Division requests
comment on this proposed change to the termination of trading
provision.
---------------------------------------------------------------------------

    \1\ The final settlement price is a special opening quotation of
the S&P 500 index and reflects the opening prices of the component
stocks.
---------------------------------------------------------------------------

    Copies of the proposed amendments will be available for inspection
at the Office of the Secretariat, Commodity Futures Trading Commission,
1155 21st Street, N.W., Washington, DC 20581. Copies of the terms and
conditions can be obtained through the Office of the Secretariat by
mail at the above address or by phone at (202) 418-5100.
    Other materials submitted by the CME 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 (1987)), 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 the 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 proposed amendments, or with respect to other
materials submitted by the CME should send such comments to Jean A.
Webb, Secretary, Commodity Futures Trading Commission, 1155 21st
Street, NW, Washington, DC 20581 by the specified date.

    Issued in Washington, DC, on October 31, 1997.
John R. Mielke,
Acting Director.
[FR Doc. 97-29356 Filed 11-5-97; 8:45 am]
BILLING CODE 6351-01-M




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