[Federal Register Volume 62, Number 34 (Thursday, February 20, 1997)]
[Notices]
[Pages 7755-7756]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-4162]


-----------------------------------------------------------------------


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