58052 Federal Register / Vol. 65, No. 188 / Wednesday, September 27, 2000 / Notices

4The CTA must be registered under Act

(including without limitation any investment

advisor registered as such with the Securities and

Exchange Commission (‘‘SEC’’) that is exempt from

regulation under the Act or the Commission’s

regulations) and have total assets under

management exceeding $50 million.

5 Generally, under CBOT’s proposed block trading

procedures, orders from different accounts could

not be aggregated to satisfy the minimum size

requirement. However, a CTA who was permitted

to execute block trades on behalf of customers

under CBOT Regulation 331.05 would be permitted

to aggregate orders from different accounts to satisfy

the minimum size requirement.

6 In addition, each member and clearing member

that was a party to a block trade must record the

following information on its order ticket: that the

trade was a block trade; the contract (including the

delivery or expiry month) to which the block trade

relates; the number of contracts traded; the

execution price and time; identity of the

counterparty; and, if applicable, details regarding

the customer for which the block trade was

executed.

that certain registration and financial

conditions are satisfied, the CTA (and

not its underlying customers) would be

responsible for meeting the eligibility

requirements described above.

Accordingly, a CTA would be able to

enter into such transactions on behalf of

a customer without its customer having

to qualify as an ‘‘eligible participant’’

under Commission Regulation 36.1 or

without specifically authorizing the use

of the block trading procedures.4

B. Size and Price Requirements

Under proposed Regulation 331.05,

each buy or sell order underlying a

block trade must satisfy the applicable

minimum size requirements as to be

determined by the CBOT Board of

Directors, case-by-case, for each

particular contract eligible for block

trading.5 The Exchange’s proposed

procedures require that the price of a

block trade be ‘‘fair and reasonable’’ in

light of: (1) The size of such block trade;

(2) the price and size of other trades in

the same contract at the relevant time;

and (3) the price and size of trades in

other relevant markets, including

without limitation the underlying cash

market or other related futures markets,

at the relevant time. Moreover, the price

at which a block trade was executed

would not affect conditional orders and

would not be used to establish

settlement prices.

C. Transparency

Each block trade executed in

accordance with CBOT’s proposed block

trading procedures must be cleared

through clearing members of the

Exchange. Information identifying the

relevant contract, contract month, price,

quantity, time of execution and

counterparty clearing member for each

block trade must be reported to the

Exchange within five minutes

immediately following its execution.

For each block trade transaction, the

Exchange would publish information

that would identify the trade as such

and would identify the relevant

contract, contract month, price, and

quantity.6 CBOT would disseminate

such information immediately after the

block trade had been reported to the

Exchange.

III. Request for Comment

The Commission requests comment

from interested persons concerning any

aspect of CBOT’s proposed block

trading procedures.

Copies of CBOT’s proposed new

Regulation 331.05 and related 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 also may

be obtained through the Office of the

Secretariat at the above address or by

telephoning (202) 418–5100.

Issued in Washington, DC, on September

20, 2000.

Alan L. Seifert,

Deputy Director.

[FR Doc. 00–24825 Filed 9–26–00; 8:45 am]

BILLING CODE 6351–01–M

COMMODITY FUTURES TRADING

COMMISSION

Sunshine Act Meeting

AGENCY HOLDING THE MEETING:

Commodity Futures Trading

Commission.

TIME AND DATE: 11:00 a.m., Friday,

October 6, 2000.

PLACE: 1155 21st, NW., Washington, DC,

9th Floor Conference Room.

STATUS: Closed.

MATTERS TO BE CONSIDERED: Surveillance

Matters.

CONTACT PERSON FOR MORE INFORMATION:

Jean A. Webb, 202–418–5100.

Jean A. Webb,

Sectretary of the Commission.

[FR Doc. 00–24871 Filed 9–22–00; 4:45 pm]

BILLING CODE 6351–01–M

COMMODITY FUTURES TRADING

COMMISSION

Sunshine Act Meeting

AGENCY HOLDING THE MEETING:

Commodity Futures Trading

Commission.

TIME AND DATE: 11:00 a.m., Friday,

October 13, 2000.

STATUS: Closed.

MATTERS TO BE CONSIDERED: Surveillance

Matters.

CONTACT PERSON FOR MORE INFORMATION:

Jean A. Webb, 202–418–5100.

Jean A. Webb,

Sectretary of the Commission.

[FR Doc. 00–24872 Filed 9–33–00; 4:45 pm]

BILLING CODE 6351–01–M

COMMODITY FUTURES TRADING

COMMISSION

Sunshine Act Meeting

AGENCY HOLDING THE MEETING:

Commodity Futures Trading

Commission.

TIME AND DATE: 11 a.m., Friday, October

20, 2000.

PLACE: 1155 21st, NW., Washington, DC,

9th Floor Conference Room.

STATUS: Closed.

MATTERS TO BE CONSIDERED: Surveillance

Matters.

CONTACT PERSON FOR MORE INFORMATION:

Jean A. Webb, 202–418–5100.

Jean A. Webb,

Secretary of the Commission.

[FR Doc. 00–24873 Filed 9–22–00; 4:45 pm]

BILLING CODE 6351–01–M

COMMODITY FUTURES TRADING

COMMISSION

Sunshine Act Meeting

AGENCY HOLDING THE MEETING:

Commodity Futures Trading

Commission.

TIME AND DATE: 11:00 a.m., Friday,

October 27, 2000.

PLACE: 1155 21st, NW., Washington, DC,

9th Floor Conference Room.

STATUS: Closed.

MATTERS TO BE CONSIDERED: Surveillance

Matters.

CONTACT PERSON FOR MORE INFORMATION:

Jean A. Webb, 202–418–5100.

Jean A. Webb,

Sectretary of the Commission.

[FR Doc. 00–24874 Filed 9–22–00; 4:45 pm]

BILLING CODE 6351–01–M