[Code of Federal Regulations]
[Title 17, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR33.6]

[Page 387-388]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER I--COMMODITY FUTURES TRADING COMMISSION
 
PART 33--REGULATION OF DOMESTIC EXCHANGE-TRADED COMMODITY OPTION TRANSACTIONS--Table of Contents
 
Sec. 33.6  Suspension or revocation of designation as a contract market for the trading of commodity options.

    The Commission may, after notice and opportunity for a hearing on 
the record, suspend or revoke the designation of any board of trade as a 
contract market in a commodity option for

[[Page 388]]

which it is designated if the Commission determines that:
    (a) The board of trade, or any director, officer, agent, or employee 
thereof, is violating or has violated any of the provisions of this 
part.
    (b) Cause exists which, under Sec. 33.2 or Sec. 33.4, would warrant 
the denial of a designation;
    (c) The option market is not used on more than an occasional basis 
for other than speculative purposes by producers, processors, merchants 
or commercial users engaged in handling or utilizing the commodity 
(including the products, by-products or source commodity thereof) 
underlying an option, in interstate commerce; or
    (d) Option trading on the contract market in that contract is 
contrary to the protection of option customers or the underlying futures 
or cash markets, or is otherwise contrary to the public interest: 
Provided, That pending completion of any proceeding under this section, 
the Commission may suspend such designation for the duration of the 
proceedings, if in the Commission's judgment, the continuation of such 
trading presents a substantial risk to the public interest.

(Approved by the Office of Management and Budget under control number 
3038-0007)

[46 FR 54529, Nov. 3, 1981, as amended at 46 FR 63036, Dec. 30, 1981; 47 
FR 57018, Dec. 22, 1982]