3670 Federal Register / Vol. 65, No. 15 / Monday, January 24, 2000 / Notices

4All LIFFE clearing members must also be

members of LCH. 5 July 2, 1999, letter to George F. Haase, Jr., NYCC

President, from David P. Van Wagner, Associate

Director of the Division of Trading and Markets.

members at both LCH and LIFFE, or (2)

have affiliates that are clearing members

at both LCH and LIFFE,4 would be

eligible to cross-margin proprietary

positions that they maintain in Euro

Euribor and Euro Libor futures and

option contracts at LIFFE and

Eurodollar futures and option contracts

at CME. This program would take the

‘‘two-pot’’ approach to cross-margining,

whereby performance bond and

positions of participants are held in

separate accounts by the CME Clearing

House and by LCH, rather than a ‘‘onepot’’ approach in which cross-margined

positions and performance bond are

maintained by the participating clearing

organizations in jointly-held accounts.

The CME Clearing House and LCH, by

the terms of the Cross-Margining

Agreement, would calculate daily the

amount that each participant in the

program could, with cross-margining,

reduce its margin levels at LCH and

CME. LCH and the CME Clearing House

would then provide each other with

cross-guaranties in the amount of the

associated margin reductions to protect

each clearing organization in the event

of default by a clearing member of the

other clearing organization. CME’s

proposal is unique in that, unlike the

‘‘two-pot’’ guaranteed cross-margining

arrangement between the Government

Securities Clearing Corporation and the

New York Clearing Corporation

(‘‘NYCC’’) recently deemed approved by

the Commission,5 the current proposal

raises issues of transnational insolvency

which have not been previously

considered in the cross-margining

context.

III. Request for Comment

The Commission requests comment

from interested persons concerning any

aspect of CME’s proposed crossmargining program. The Commission is

especially interested in comments

regarding the cross-border bankruptcy

aspects of this proposal.

Copies of CME’s proposed rule

amendments and certain other materials

are available for inspection at the Office

of the Secretariat, Commodity Futures

Trading Commission, Three Lafayette

Centre, 1155 21st Street NW,

Washington, DC 20581. Copies of the

proposed amendments and related

materials may also be obtained through

the Office of the Secretariat by mail at

the above address, by telephone at (202)

418–5100, or by electronic mail at

secretary@cftc.gov. Other materials

submitted by CME 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 § 145 (1987), except

to the extent they are entitled to

confidential treatment as set forth in 17

CFR §§ 145.5, 145.9. Requests for copies

of such materials should be made to the

FOIA, Privacy Act, and Sunshine Act

Compliance Staff of the Office of

Secretariat at the Commission’s

headquarters in accordance with 17 CFR

§§ 145.7, 145.8.

Issued in Washington, D.C. on January 14,

2000 by the Commission.

Alan L. Seifert,

Deputy Director.

[FR Doc. 00–1569 Filed 1–21–00; 8:45 am]

BILLING CODE 6351–01–U

CONSUMER PRODUCT SAFETY

COMMISSION

[CPSC Docket No. 00–C0004]

Lancaster Colony Corporation;

Provisional Acceptance of a

Settlement Agreement and Order

AGENCY: Consumer Product Safety

Commission

ACTION: Notice.

SUMMARY: It is the policy of the

Commission to publish settlements

which it provisionally accepts under the

Consumer Product Safety Act in the

Federal Register in accordance with the

terms of 16 CFR 1118.20(e). Published

below is a provisionally-accepted

Settlement Agreement Lancaster Colony

Corporation, a corporation, containing a

civil penalty of $150,000.

DATES: Any interested person may ask

the Commission not to accept this

agreement or otherwise comment on its

contents by filing a written request with

the Office of the Secretary by February

8, 2000.

ADDRESSES: Persons wishing to

comment on this Settlement Agreement

should send written comments to the

Comment 00–C0004, Office of the

Secretary, Consumer Product Safety

Commission, Washington, D.C. 20207.

FOR FURTHER INFORMATION CONTACT:

Ronald G. Yelenik, Trial Attorney,

Office of Compliance and Enforcement,

Consumer Product Safety Commission,

Washington, D.C. 20207; telephone

(301) 504–0626, 1351.

SUPPLEMENTARY INFORMATION: The text of

the Agreement and Order appears

below.

Dated: January 18, 2000.

Sadye E. Dunn,

Secretary.

[FR Doc. 00–1563 Filed 1–21–00;8:45am]

BILLING CODE 6355–01–M

CONSUMER PRODUCT SAFETY

COMMISSION

[CPSC Docket NO. 00–C0004]

Lancaster Colony Corporation, a

Corporation; Settlement Agreement

and Order

1. This Settlement Agreement and

Order, entered into between Lancaster

Colony Corporation, a corporation

(hereinafter, ‘‘Lancaster Colony’’ or

‘‘Respondent’’), and the staff of the

Consumer Product Safety Commission

(hereinafter, ‘‘staff’’), pursuant to the

procedures set forth in 16 C.F.R.

§ 1118.20, is a compromise resolution of

the matter described herein, without a

hearing or determination of issues of

law and fact.

The Parties

2. The staff is the staff of the

Consumer Product Safety Commission

(hereinafter, ‘‘Commission’’), an

independent federal regulatory agency

of the United States government,

established by Congress pursuant to

section 4 of the Consumer Product

Safety Act (hereinafter, ‘‘CPSA’’), as

amended, 15 U.S.C. § 2053.

3. Respondent Lancaster Colony is a

corporation organized and existing

under the laws of the State of Ohio with

its principal corporate offices located in

Columbus, Ohio. Lancaster Colony has

an operating division named Candle-lite

located in Cincinnati, Ohio, which

manufactures and sells candles.

Staff Allegations

4. Section 15(b) of the CPSA, 15

U.S.C. § 2064(b), requires a

manufacturer of a consumer product

who, inter alia, obtains information that

reasonably supports the conclusion that

the product contains a defect which

could create a substantial product

hazard or creates an unreasonable risk

of serious injury or death, to

immediately inform the Commission of

the defect or risk.

5. Between August 1995 and February

1996, Lancaster Colony through its

Candle-lite division, manufactured and

sold nationwide, approximately three

million Clearfire De-lite Candles

(hereinafter the ‘‘Candles’’ or the

‘‘product’’). A candle is a ‘‘consumer

product and Lancaster Colony is a

‘‘manufacturer’’ of a ‘‘consumer

product,’’ which is ‘‘distributed in