[Federal Register: February 20, 1997 (Volume 62, Number 34)] [Notices] [Page 7755-7756] From the Federal Register Online via GPO Access [wais.access.gpo.gov] ----------------------------------------------------------------------- COMMODITY FUTURES TRADING COMMISSION New York Cotton Exchange Petition for Exemption From the Dual Trading Prohibition in an Affected Contract Market AGENCY: Commodity Futures Trading Commission. ACTION: Notice of petition for exemption from the prohibition on dual trading in an affected contract market. ----------------------------------------------------------------------- SUMMARY: New York Cotton Exchange (``NYCE'' or ``Exchange'') submitted a petition for exemption from the prohibition against dual trading in one contract market on September 28, 1995. The Exchange submitted a supplement to its original petition, which the Commission received on November 21, 1995. The Commission has initiated an audit trail test. NYCE will be given an opportunity to update its petition. Copies of the entire file, including the eventual results of the audit trail test and 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 containing all these materials, the eventual retest results and any future submissions are available from the Office of the Secretariat, Commodity Futures Trading Commission, 1155 21st Street, NW, Washington, DC 20581. Reference should be made to the NYCE dual trading exemption petition file. FOR FURTHER INFORMATION CONTACT: Duane Andresen, Special Counsel, Division of Trading and Markets, Commodity Futures Trading Commission, 1155 21st Street, NW, [[Page 7756]] Washington, DC 20581; telephone: (202) 418-5490. SUPPLEMENTARY INFORMATION: Pursuant to Section 4j(a)(3) of the Commodity Exchange Act and Regulation 155.5 thereunder, a board of trade may submit a petition to the Commodity Futures Trading Commission (``Commission'') to exempt any of its affected contract markets (markets with an average daily volume of over 8,000 contracts traded 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 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. NYCE originally submitted a petition for dual trading exemption for its Cotton 2 futures contract on September 28, 1995, within 30 days after the contract market became an affected market. After the Commission requested additional information, the Exchange submitted a supplement on November 21, 1995. The Commission is currently testing the Exchange's audit trail system to determine its accuracy. In conjunction with this test, the Exchange will be given an opportunity to update its petition. Copies of the file and any future updates, 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, 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 NYCE's request for confidential treatment 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), 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 FOI, 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. Application of the prohibition against the contract market covered by the petition 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 12, 1997. Jean A. Webb, Secretary. [FR Doc. 97-4162 Filed 2-19-97; 8:45 am] BILLING CODE 6351-01-M
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