[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 secretary@cftc.gov.

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