[Federal Register: March 4, 1998 (Volume 63, Number 42)]
[Notices]
[Page 10596-10597]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr04mr98-49]
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COMMODITY FUTURES TRADING COMMISSION
Coffee, Sugar & Cocoa Exchange, Inc. Amendment to a Petition for
Exemption From the Dual Trading Prohibition in Affected Contract
Markets
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice of amendment to a petition for exemption from the
prohibition on dual trading in an affected contract market.
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SUMMARY: Coffee, Sugar & Cocoa Exchange, Inc. ("CSCE" or
"Exchange") has submitted to the Commodity Futures Trading Commission
("Commission") an additional update of its October 19, 1993 petition
for exemption from the prohibition against dual trading in two contract
markets. The amendment requests an exemption for a newly affected
contract market. Copies of the entire file, including any future
submissions, will be available to the public upon request, except to
the extent the Exchange has requested confidential treatment.
ADDRESSES: Copies of the file are available from the Office of the
Secretariat, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street, NW, Washington, DC 20581. Reference should be
made to the CSCE dual trading exemption petition file.
FOR FURTHER INFORMATION CONTACT: Duane C. Andresen, Special Counsel, or
Adam E. Wernow, Staff Attorney, Division of Trading and Markets,
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st
Street, NW, Washington, DC 20581; telephone: (202) 418-5490.
SUPPLEMENTARY INFORMATION: Pursuant to Sections 4j(a)(1) and (3) of the
Commodity Exchange Act ("Act") and Commission Regulation 155.5
thereunder, a board of trade may submit a petition to the Commission to
exempt any of its affected contract markets (markets with an average
daily trading volume equal to or in excess of 8,000 contracts for four
consecutive quarters) from the prohibition against dual trading.
Regulation 155.5(d)(6) authorizes the Director of the Division of
Trading and Markets, or a designee of the Director, to publish notice
of each exemption petition deemed complete under Regulation 155.5(d)
and to make the petition available to the public as required by Section
4j(a)(5) of the Act.
CSCE originally submitted a petition for a dual trading exemption
on October 19, 1993, for its Sugar #11 and Coffee "C" futures
contracts. On March 21, 1997, CSCE submitted an amended petition that
updated the Exchange's original petition and requested a dual trading
exemption for four additional affected contract markets: Cocoa futures
and option contracts on the Sugar #11, Coffee "C," and Cocoa futures.
On July 8, 1997, the Commission issued an Opinion and Order granting a
dual trading exemption to CSCE for its Sugar #11 futures contract, the
only affected contract market as of that date. This Opinion and Order
provided that if other CSCE contracts became affected contract markets
after the date of the Order, the Commission may expand the Order in
response to an updated petition that includes those contracts. Pursuant
to that provision, CSCE submitted an amendment dated February 3, 1998,
requesting an exemption from the dual trading prohibition for the Cocoa
futures contract market.
Copies of the file containing all these materials and any future
submissions, except to the extent the Exchange has requested
confidential treatment in accordance with 17 CFR 145.9, are available
for inspection at the Commission's Office of the Secretariat, Three
Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581, and may
be obtained by mail at that address or by telephone at (202) 418-5100.
Petition materials subject to CSCE's request for confidential
treatment may be available upon request pursuant to the Freedom of
Information Act ("FOIA") (5 U.S.C. Sec. 552) and the Commission's
regulations thereunder (17 CFR Part 145), 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 FOIA,
Privacy and Sunshine Act Compliance Staff of the Office of the
Secretariat at the above address in accordance with 17 CFR 145.7 and
145.8.
CSCE timely submitted its amended petition before February 5, 1998,
the effective date of the dual trading prohibition in the newly
affected contract market. Therefore, application of the prohibition in
the contract market
[[Page 10597]]
covered by the petition amendment has been suspended in accordance with
Commission Regulation 155.5(d)(5) and will remain suspended until the
petition is acted upon.
Issued in Washington, DC, on February 26, 1998.
Alan L. Seifert,
Deputy Director, Division of Trading and Markets.
[FR Doc. 98-5595 Filed 3-3-98; 8:45 am]
BILLING CODE 6351-01-P
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