[Federal Register: February 6, 1998 (Volume 63, Number 25)]
[Proposed Rules]
[Page 6112-6113]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr06fe98-23]

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COMMODITY FUTURES TRADING COMMISSION

17 CFR Parts 1 and 33


Proposed Rulemaking Permitting Future-Style Margining of
Commodity Options

AGENCY: Commodity Futures Trading Commission.

ACTION: Extension of comment period on proposed rulemaking.

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SUMMARY: The Commodity Futures Trading Commission has proposed the

[[Page 6113]]

repeal of Commission Regulation 33.4(a)(2) which requires the full
upfront payment of commodity option premiums. The proposed repeal was
initially published for comment on December 19, 1997 (62 FR 66569) with
comments on the proposal due by February 2, 1998. The effect of the
repeal would be to permit the futures-style margining of commodity
options traded on regulated futures exchanges and is discussed in the
initial notice of proposed rulemaking. In order to give those persons
affected by the proposed repeal sufficient time to fully assess its
ramifications, the Commission has determined to extend the comment
period on this proposal for an additional 30 days. The extended
deadline for comments on this proposed rulemaing is March 4, 1998.
    Any person interested in submitting written data, views, or
arguments on the proposal 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,
DC 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 must be received on or before March 4, 1998.

FOR FURTHER INFORMATION CONTACT:
Thomas Smith, Attorney, Division of Trading and Markets, Commodity
Futures Trading Commission, Three Lafayette Centre, 1155 21st Street,
NW, Washington, DC 20581. Telephone: (202) 418-5495.

    Issued in Washington, D.C., on this 2nd day of February, 1998,
by the Commodity Futures Trading Commission.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 98-3073 Filed 2-5-98; 8:45 am]
BILLING CODE 6351-01-M

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