[Federal Register: May 1, 1998 (Volume 63, Number 84)]
[Notices]
[Page 24164]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr01my98-50]


[[Page 24164]]

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COMMODITY FUTURES TRADING COMMISSION


Concept Release Concerning the Regulation of Noncompetitive
Transactions Executed on or Subject to the Rules of a Contract Market

AGENCY: Commodity Futures Trading Commission.

ACTION: Extension of comment period on Concept Release.

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SUMMARY: On January 16, 1998, the Commodity Futures Trading 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 [email protected]

DATES: Comments on section III.A.3. of the Concept Release must be
received on or before September 1, 1998. To the extent that comments on
sections III.B., III.C., and IV. relate to the block trading issues
raised in section III.A.3. of the Concept Release, they must be
received on or before September 1, 1998.

FOR FURTHER INFORMATION CONTACT:
Rebecca Creed, Attorney, Division of Trading and Markets, Commodity
Futures Trading Commission, Three Lafayette Centre, 1155 21st Street,
N.W., Washington, D.C. 20581. Telephone: (202) 418-5493.

    Issued in Washington, D.C., on this 27th day of April, 1998, by
the Commodity Futures Trading Commission.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 98-11602 Filed 4-30-98; 8:45 am]
BILLING CODE 6351-01-M


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