[Federal Register: November 4, 1997 (Volume 62, Number 213)]
[Notices]
[Page 59660-59661]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr04no97-29]

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COMMODITY FUTURES TRADING COMMISSION


Applications of the Chicago Board of Trade for Designation as a
Contract Market in PCS Catastrophe Single-Event Insurance Options for
the Entire U.S. (National) Plus Eight Regional and State-Based
Contracts Covering the Northeast, West, California, Texas, East,
Southeast, Midwest, and Florida

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of the terms and conditions of proposed
commodity option contracts.

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SUMMARY: The Chicago Board of Trade (CBT or Exchange) has applied for
designation as a contract market in nine options on PCS catastrophe
single-event insurance. The options include a national contract plus
eight regional and state-based contracts representing the Northeast,
West, California, Texas, East, Southeast, Midwest, and Florida. The
applications were submitted under the Commission's 45-day Fast Track
procedures. The Acting 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 purpose of the Commodity Exchange
Act.

DATES: Comments must be received on or before November 19, 1997.

ADDRESSES: Interested persons should submit their views and comments to
Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three
Lafayette Centre, 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 CBT PCS catastrophe single event insurance
options.

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

SUPPLEMENTARY INFORMATION: The contracts were submitted pursuant to the
Commission's Fast Track procedures for streamlining the review of
applications for contract market designation (62 FR 10434). Under those
procedures, the contracts, absent any contrary action by the
Commission, may be deemed approved at the close of business on December
11, 1997, 45 days after receipt of the applications. In view of the
limited review period provided under the Fast Track procedures, the
Commission has determined to publish for public comment notice of the
availability of the terms and conditions for 15 days, rather than 30
days as

[[Page 59661]]

provided for applications submitted under the regular review
procedures.
    Copies of the terms and conditions will be available for inspection
at the Office of the Secretariat, Commodity Futures Trading Commission,
Three Lafayette Centre, 21st Street NW, Washington, DC 20581. Copies of
the terms and conditions can be obtained through the Office of the
Secretariat by mail at the above address, by phone at (202) 418-5100,
or via the internet on the CFTC website at www.cftc.gov under ``What's
Pending''.
    Other materials submitted by the CBT in support of the applications
for contract market designation 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
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 terms and conditions, or with respect to
other materials submitted by the CBT, should send such comments to Jean
A. Webb, Secretary, Commodity Futures Trading Commission, Three
Lafayette Centre, 21st Street NW, Washington, DC 20581 by the specified
date.

    Issued in Washington, DC, on October 29, 1997.
John R. Mielke,
Acting Director.
[FR Doc. 97-29134 Filed 11-3-97; 8:45 am]
BILLING CODE 6351-01-P

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