[Federal Register Volume 62, Number 209 (Wednesday, October 29, 1997)]
[Notices]
[Pages 56151-56152]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-28562]


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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 <a href="/cdn-cgi/l/email-protection#5625333524332237242f163530223578313920"><span class="__cf_email__" data-cfemail="5c2f393f2e39283d2e251c3f3a283f723b332a">[email protected]</span></a>. 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: 
<a href="/cdn-cgi/l/email-protection#a1d5cdc4c0c9d8e1c2c7d5c28fc6ced7"><span class="__cf_email__" data-cfemail="a1d5cdc4c0c9d8e1c2c7d5c28fc6ced7">[email protected]</span></a>.

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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