[Federal Register: October 29, 1997 (Volume 62, Number 209)]
[Notices]
[Page 56151-56152]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr29oc97-51]

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COMMODITY FUTURES TRADING COMMISSION


CBT Proposed Amendments to the Circuit Breaker Trading Halt
Reopening Provision for the Dow Jones Industrial Average Futures
Contract

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of proposed contract market rule change.

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SUMMARY: The CBT proposes to amend its procedure for reopening trading
in its

[[Page 56152]]

Dow Jones Industrial Average (DJIA) futures contract following a
circuit breaker trading halt. Under the proposal, trading would resume
after trading in the underlying securities market has reopened and the
CBT Executive Committee has determined to resume futures trading. Under
current rules, after a trading halt, futures trading resumes when
trading in the underlying securities market has reopened and 50 percent
of the DJIA stocks, according to capitalization, have reopened. The
Acting Director of the Division of Economic Analysis (Division) of the
Commission, acting pursuant to the authority delegated by Commission
Regulation 140.96, has determined that publication of the proposal for
comment is in the public interest, will assist the Commission in
considering the views of interested persons, and is consistent with the
purposes of the Commodity Exchange Act.

DATES: Comments must be received on or before November 28, 1997.

ADDRESSES: Interested persons should submit their views and commends to
Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three
Lafayette Centre, 21st Street, NW, 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]. Reference
should be made to the amendments to the trading halt reopening
provision of the Dow Jones Industrial Average futures contract.

FOR FURTHER INFORMATION CONTACT: Please contact Thomas Leahy of the
Division of Economic Analysis, Commodity Futures Trading Commission,
Three Lafayette Centre, 21st Street NW, Washington, 20581, telephone
(202) 418-5278. Facsimile number: (202) 418-5527. Electronic mail:
[email protected].

SUPPLEMENTARY INFORMATION: Under the proposal, after a trading halt,
trading in the DJIA future would resume at the discretion of the CBT.
The CBT stated that this provision would allow for better coordination
with the Chicago Board Options Exchange (CBOE), which has submitted to
the Securities and Exchange Commission an amendment to the reopening
provision for CBOE options.
    The Division requests comments on the proposed change to the CBT's
reopening provision after a circuit breaker trading halt for the DJIA
futures contract. Commenters should address the extent to which the
proposed provision would coordinate with the reopening provisions of
the equities markets and other equity-index futures markets.
    Copies of the amended terms and conditions will be available for
inspection at the Office of the Secretariat, Commodity Futures Trading
Commission, Three Lafayette Centre, 21st Street NW, Washington, DC
20581. Copies also can be obtained through the Office of the
Secretariat by mail at the above address or by phone at (202) 418-5100.
    Other materials submitted by the CBT 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 (1987)), 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 the FOI, Privacy and Sunshine Act Compliance Staff of the
Office of Secretariat at the Commission's headquarters in accordance
with 17 CFR 145.7 and 145.8.
    Any person interested in submitting written data, views, or
arguments on the proposed amendments, or with respect to other
materials submitted by the CBT, should send such comments to Jean A.
Webb, Secretary, Commodity Futures Trading Commission, Three Lafayette
Centre, 21st Street NW, Washington, DC 20581 by the specified date.

    Issued in Washington, DC, on October 23, 1997.
John R. Mielke,
Acting Director.
[FR Doc. 97-28562 Filed 10-28-97; 8:45 am]
BILLING CODE 6351-01-P

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