Release:                      #4345-99
For Release:              December 1, 1999

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CFTC Agricultural Advisory Committee to Hold Meeting

The CFTC's Agricultural Advisory Committee (AAC), chaired by Commissioner David D. Spears, will hold its 27th meeting on Wednesday, December 8, 1999, from 1:00 to 4:30 p.m., at the Commission's Washington D.C. headquarters, Three Lafayette Centre, 1155 21st Street N.W., in the first floor hearing room. The meeting is open to the public.

The first agenda item is a discussion of recent Commission deregulatory initiatives. Specifically, the AAC will be briefed on the Commission's November 17, 1999, approval of final rules that permit futures exchanges to list new contracts for trading � and subsequently to amend those contracts pursuant to exchange certification � without prior Commission approval. The AAC will also discuss the recently published proposal to revise Commission Regulation 1.41 to allow futures exchanges to make new rules and rule amendments effective without prior Commission approval.

The other agenda items include a discussion of reauthorization of the CFTC as it relates to the November 1999 report of the President's Working Group on Financial Markets, a briefing on the recently approved Agricultural Trade Option final rules, and briefings by David Lehman of the Chicago Board of Trade on issues relating to revised corn and soybean delivery terms and concerns about deliverable supplies of genetically altered commodities.

The AAC was created by the CFTC to advise the Commission on agricultural issues. For further information about the AAC meeting, contact Jennifer Roe at (202) 418-5040.