Federal Register / Vol. 63, No. 94 / Friday, May 15, 1998 / Notices 27055

DEPARTMENT OF COMMERCE

National Oceanic and Atmospheric

Administration

ENVIRONMENTAL PROTECTION

AGENCY

Coastal Nonpoint Pollution Control

Program: Proposed Findings

Document, Environmental

Assessment, and Findings of No

Significant Impact

AGENCY: National Oceanic and

Atmospheric Administration, U.S.

Department of Commerce, and The U.S.

Environmental Protection Agency.

ACTION: Notice of availability of

proposed findings document,

environmental assessment, and findings

of no significant impact on approval of

coastal nonpoint pollution control

program for Washington.

SUMMARY: Notice is hereby given of the

availability of the Proposed Findings

Document, Environmental Assessment

(EA), and Finding of No Significant

Impact for Washington. Coastal states

and territories were required to submit

their coastal nonpoint programs to the

National Oceanic and Atmospheric

Administration (NOAA) and the U.S.

Environmental Protection Agency (EPA)

for approval in July 1995. The Findings

documents were prepared by NOAA

and EPA to provide the rationale for the

agencies’ decision to approve each state

and territory coastal nonpoint pollution

control program. Section 6217 of the

Coastal Zone Act Reauthorization

Amendments (CZARA), 16 U.S.C.

section 1455b, requires states and

territories with coastal zone

management programs that have

received approval under section 306 of

the Coastal Zone Management Act to

develop and implement coastal

nonpoint pollution control programs.

The EA’s were prepared by NOAA,

pursuant to the National Environmental

Policy Act (NEPA), 42 U.S.C. sections

4321 et seq., to assess the environmental

impacts associated with the approval of

the coastal nonpoint pollution control

program submitted to NOAA and EPA

by Washington.

NOAA and EPA have proposed to

approve, with conditions, the coastal

nonpoint pollution control program

submitted by Washington. The

requirements of 40 CFR Parts 1500–1508

(Council on Environmental Quality

(CEQ) regulations to implement the

National Environmental Policy Act)

apply to the preparation of this

Environmental Assessment.

Specifically, 40 CFR section 1506.6

requires agencies to provide public

notice of the availability of

environmental documents. This notice

is part of NOAA’s action to comply with

this requirement.

Copies of the Proposed Findings

Document, Environmental Assessment,

and Findings of No Significant Impact

may be obtained upon request from:

Joseph P. Flanagan, Coastal Programs

Division (N/ORM3), Office of Ocean and

Coastal Resource Management, NOS,

NOAA, 1305 East-West Highway, Silver

Spring, Maryland 20910, tel. (301) 713–

3121, x201.

DATES: Individuals or organizations

wishing to submit comments on the

proposed Findings or Environmental

Assessment should do so by June 15,

1998.

ADDRESSES: Comments should be made

to: Joseph A. Uravitch, Coastal Programs

Division (N/ORM3), Office of Ocean and

Coastal Resource Management, NOS,

NOAA, 1305 East-West Highway, Silver

Spring, Maryland 20910, tel. (301) 713–

3155, x195.

(Federal Domestic Assistance Catalog 11.419

Coastal Zone Management Program

Administration)

Dated: May 12, 1998.

John Oliver,

Acting Assistant Administrator for Ocean

Services and Coastal Zone Management,

National Oceanic and Atmospheric

Administration.

Robert H. Wayland, III,

Director, Office of Wetlands, Oceans and

Watersheds, Environmental Protection

Agency.

[FR Doc. 98–13022 Filed 5–14–98; 8:45 am]

BILLING CODE 3510–12–M

DEPARTMENT OF COMMERCE

National Oceanic and Atmospheric

Administration

[I.D. 050798B]

Endangered Species; Permits

AGENCY: National Marine Fisheries

Service (NMFS), National Oceanic and

Atmospheric Administration (NOAA),

Commerce.

ACTION: Receipt of applications for a

scientific research permit (1148) and for

modifications to scientific research

permits (1114, 1115); Issuance of

scientific research permits (1059, 1072,

1088, 1102, 1119, 1130, 1131, 1133,

1136, 1137) and modifications to

scientific research permits (1042, 1103)

SUMMARY: Notice is hereby given of the

following actions regarding permits for

takes of endangered and threatened

species for the purposes of scientific

research and/or enhancement: NMFS

has received a permit application from

the Resource Enhancement and

Utilization Technologies Division of the

Northwest Fisheries Science Center,

NMFS at Seattle, WA (NWFSC) (1148);

NMFS has received applications for

modifications to existing permits from

the Washington Department of Fish and

Wildlife at Olympia, WA (WDFW)

(1114) and Public Utility District No. 1

of Chelan County at Wenatchee, WA

(PUD CC) (1115); NMFS has issued

permits subject to certain conditions set

forth therein, to: Carl Page (1059), U.S.

Bureau of Reclamation at Shasta Lake,

CA (BOR) (1072), Bureau of Land

Management (BLM)(1088), Washington

Department of Fish and Wildlife at

Vancouver, WA (WDFW) (1102), U.S.

Fish and Wildlife Service at

Leavenworth, WA (FWS) (1119), the

U.S. Geological Survey at Cook, WA

(USGS) (1130), the Port of Portland at

Portland, OR (POP) (1131), Andre M.

Landry, of Texas A&M University

(1133), the Oregon Cooperative Fishery

and Wildlife Research Unit at Corvallis,

OR (OCFWRU) (1136), and Northwest

Fisheries Science Center, NMFS at

Seattle, WA (NWFSC) (1137); and

NMFS has issued modifications to

scientific research permits to William

M. Kier Associates (WKA) (1042) and

California Department of Forestry and

Fire Protection (CDF) (1103).

DATES: Written comments or requests for

a public hearing on any of the

applications must be received on or

before June 15, 1998.

ADDRESSES: The applications and

related documents are available for

review in the following offices, by

appointment:

For permits 1102, 1114, 1115, 1119,

1130, 1131, 1136, 1137, and 1148:

Protected Resources Division (PRD), F/

NWO3, 525 NE Oregon Street, Suite

500, Portland, OR 97232–4169 (503–

230–5400).

For permits 1042, 1059, 1072, 1088,

and 1103: Protected Species Division,

NMFS, 777 Sonoma Avenue, Room 325,

Santa Rosa, CA 95404–6528 (707–575–

6066).

For permit 1133: Director, Southeast

Region, NMFS, NOAA, 9721 Executive

Center Drive, St. Petersburg, FL 33702–

2432 (813–893–3141).

All documents may also be reviewed

by appointment in the Office of

Protected Resources, F/PR3, NMFS,

1315 East-West Highway, Silver Spring,

MD 20910–3226 (301–713–1401).

FOR FURTHER INFORMATION CONTACT: For

permits 1102, 1130, 1131, 1136, 1137,

and 1148: Robert Koch, Portland, OR

(503–230–5424).
27056 Federal Register / Vol. 63, No. 94 / Friday, May 15, 1998 / Notices

For permits 1114, 1115, and 1119:

Tom Lichatowich, Portland, OR (503–

230–5438).

For permits 1042, 1059, 1072, 1088,

and 1103: Thomas Hablett, Protected

Resources Division, (707–575–6066).

For permit 1133: Michelle Rogers,

Endangered Species Division, Silver

Spring, MD (301–713–1401)

SUPPLEMENTARY INFORMATION:

Authority

Permits are requested under the

authority of section 10 of the

Endangered Species Act of 1973 (ESA)

(16 U.S.C. 1531–1543) and the NMFS

regulations governing ESA-listed fish

and wildlife permits (50 CFR parts 217–

227).

Those individuals requesting a

hearing on these requests for permits

should set out the specific reasons why

a hearing would be appropriate (see

ADDRESSES). The holding of such a

hearing is at the discretion of the

Assistant Administrator for Fisheries,

NOAA. All statements and opinions

contained in the below application

summaries are those of the applicant

and do not necessarily reflect the views

of NMFS.

Issuance of these permits,

modifications, and amendments, as

required by the ESA, was based on a

finding that such permits,

modifications, and amendments: (1)

Were applied for in good faith; (2)

would not operate to the disadvantage

of the listed species which are the

subject of the permits; and (3) are

consistent with the purposes and

policies set forth in section 2 of the

ESA. These permits, modifications, and

amendments were also issued in

accordance with and are subject to parts

217-222 of Title 50 CFR, the NMFS

regulations governing listed species

permits.

Species Covered in this Notice

The following species are covered in

this notice: Chinook salmon

(Oncorhynchus tshawytscha), Coho

salmon (Oncorhynchus kisutch), Green

sea turtle (Chelonia mydas), Hawksbill

sea turtle (Eretmochelys imbricata),

Kemp’s ridley sea turtle (Lepidochelys

kempii), Loggerhead sea turtle (Caretta

caretta), Sockeye salmon

(Oncorhynchus nerka), and Steelhead

trout (Oncorhynchus mykiss).

New Application Received

NWFSC requests a 5-year permit

(1148) for authorization to take adult

and juvenile, endangered, artificially

propagated, Snake River sockeye salmon

to continue its captive broodstock

responsibilities currently authorized

under Permit 1005 which expires on

May 31, 1998. The captive broodstock

program is a cooperative effort among

the Idaho Department of Fish and Game

(IDFG), NMFS, the Shoshone-Bannock

Tribes, the University of Idaho, the

Idaho Department of Environmental

Quality, the Oregon Department of Fish

and Wildlife (ODFW), and the

Bonneville Power Administration

(BPA). Funding is provided by BPA.

The captive broodstock program is

helping to preserve and perpetuate the

species and will provide Snake River

sockeye salmon for future recovery

actions. NWFSC proposes to rear,

maintain, breed, tag, and mark the fish,

which will then be used to complement

recovery efforts at Redfish, Pettit, and

Alturas Lakes in Idaho.

Modification Requests Received

WDFW requests modification 1 to

scientific research permit 1114. Permit

1114 authorizes a take of juvenile,

endangered, naturally produced and

artificially propagated, upper Columbia

River (UCR) steelhead associated with a

smolt monitoring program at Rock

Island Dam on the Columbia River. For

modification 1, WDFW requests

authorization to take adult, endangered,

UCR steelhead. WDFW proposes to

collect adult fish in a permanent

inclined screen trap, handle them to

determine hatchery or wild origin, and

release them. The information will be

used to design operational measures to

enhance adult passage survival at the

dam. WDFW requests that Modification

1 be valid for the duration of the permit

which expires on December 31, 2002.

PUD CC requests modification 1 to

scientific research permit 1115. Permit

1115 authorizes a take of juvenile,

endangered, naturally produced and

artificially propagated, UCR steelhead

associated with two research studies.

The purpose of the research is to

evaluate the juvenile fish bypass system

installed at Rocky Reach Dam, and to

monitor juvenile fish gas bubble trauma

at Rocky Reach and Rock Island Dams

on the Columbia River. For modification

1, PUD CC requests authorization to take

adult, endangered, UCR steelhead. PUD

CC proposes to collect ESA-listed adult

fish at a permanent bypass pipe at

Rocky Reach Dam, handle them to

determine hatchery or wild origin, and

release them. The information will be

used to design operational measures to

enhance adult passage survival at the

dam. PUD CC requests that Modification

1 be valid for the duration of the permit

which expires on December 31, 2002.

Permits and Modifications Issued

Notice was published on November

17, 1997 (62 FR 61295), that an

application had been filed by WKA for

a modification to a scientific research

permit. Modification 1 to permit 1042

was issued to WKA on May 5, 1998.

Permit 1042 authorizes takes of adult

and juvenile, threatened, central

California coast (CCC) coho salmon

associated with fish population and

habitat studies throughout the

Evolutionarily Significant Unit (ESU).

ESA-listed fish may be observed or

captured, anesthetized, handled,

allowed to recover from the anesthetic,

and released. Indirect mortalities are

also authorized. The modification

authorizes takes of juvenile, threatened,

southern Oregon/northern California

(SONCC) coho salmon associated with

fish population and habitat studies

throughout the California portion of the

ESU. ESA-listed juvenile fish are

proposed to be observed and counted.

Modification 1 is valid for the duration

of the permit which expires on June 30,

1999.

Notice was published on January 15,

1998 (63 FR 2364), that an application

had been filed by Carl Page for a

scientific research permit. Permit 1059

was issued on April 24, 1998. Permit

1059 authorizes Carl Page takes of adult

and juvenile, threatened, SONCC coho

salmon; adult and juvenile, threatened,

CCC coho salmon; and adult and

juvenile, endangered, southern

California coast steelhead associated

with fish population and habitat studies

in coastal drainages throughout

California. The studies consist of habitat

and biological inventories, and project

monitoring and evaluation studies for

which ESA-listed fish will be taken.

ESA-listed fish will be captured,

anesthetized, handled (identified and

measured), allowed to recover from the

anesthetic, and released. Indirect

mortalities associated with the research

are also authorized. Permit 1059 expires

on June 30, 2003.

Notice was published on January 15,

1998 (63 FR 2364), that an application

had been filed by BOR for a scientific

research permit. Permit 1072 was issued

to BOR on May 4, 1998. Permit 1072

authorizes takes of adult and juvenile,

threatened, SONCC coho salmon in

California within the ESU. The studies

consist of coho salmon distribution,

abundance and spawner surveys for

which ESA-listed fish are proposed to

be taken. ESA-listed fish will be

captured, anesthetized, handled

(identified and measured), allowed to

recover from the anesthetic, and

released. ESA-listed salmon indirect
Federal Register / Vol. 63, No. 94 / Friday, May 15, 1998 / Notices 27057

mortalities associated with the research

are also authorized. Permit 1072 expires

on June 30, 2003.

Notice was published on January 15,

1998 (63 FR 2364), that an application

had been filed by BLM for a scientific

research permit. Permit 1088 was issued

to BLM on April 24, 1998. Permit 1088

authorizes BLM takes of adult and

juvenile, threatened, SONCC coho

salmon in California, associated with

fish population and habitat studies in

the Eel and Mattole River Basins, and

Humboldt County coastal stream

drainages within the ESU. The studies

consist of coho salmon distribution,

abundance and spawner surveys for

which ESA-listed fish are proposed to

be taken. ESA-listed fish will be

captured, anesthetized, handled

(identified and measured), allowed to

recover from the anesthetic, and

released. ESA-listed salmon indirect

mortalities associated with the research

are also authorized. Permit 1088 expires

on June 30, 2003.

Notice was published on October 31,

1997 (62 FR 58942), and February 25,

1998 (63 FR 9505), that an application

and an amendment to the application

had been filed by WDFW for a scientific

research permit. Permit 1102 was issued

to WDFW on April 24, 1998. Permit

1102 authorizes WDFW an annual take

of adult, endangered, UCR steelhead;

adult, threatened, Snake River spring/

summer chinook salmon; and adult,

threatened, Snake River fall chinook

salmon associated with two scientific

research studies. The purpose of the

research is to determine the number and

timing of wild and hatchery steelhead

adults that pass Bonneville Dam on the

Columbia River, and to determine the

genetic stock identification of

anadromous adult fish harvested in

Columbia River fisheries. Data will be

used to determine the fishery impacts to

ESA-listed stocks and if possible, to

shape fisheries to reduce impacts to

ESA-listed or depressed stocks while

focusing harvest on healthy stocks.

Permit 1102 expires on January 31,

2003.

Notice was published on November 5,

1997 (62 FR 59848), that an application

had been filed by CDF for a

modification to a scientific research

permit. Modification 1 to permit 1103

was issued to CDF on April 24, 1998.

Permit 1103 authorizes takes of juvenile,

threatened, CCC coho salmon associated

with fish population and habitat studies

throughout the ESU. ESA-listed fish

may be observed or captured,

anesthetized, handled, allowed to

recover from the anesthetic, and

released. Indirect mortalities are also

authorized. The modification authorizes

takes of juvenile, threatened, SONCC

coho salmon associated with fish

population and habitat studies

throughout the California portion of the

ESU. ESA-listed juvenile fish are

proposed to be observed and counted.

Modification 1 is valid for the duration

of the permit which expires on June 30,

2003.

Notice was published on March 2,

1998, (63 FR 10198), that an application

had been filed by FWS for a 5-year

scientific research permit. Permit 1119

was issued on May 4, 1998. Permit 1119

authorizes direct takes of juvenile fish

released from Winthrop Hatchery. The

FWS is authorized takes of adult and

juvenile, endangered, naturally

produced and artificially propagated,

UCR steelhead associated with two

scientific research studies. The purpose

of the research is to gather data on

emerging juvenile salmon and

steelhead, and to conduct snorkel

surveys in various watersheds as part of

inventory and artificial structure

monitoring projects. The data obtained

from both studies will be used to

determine the survival and contribution

of ESA-listed steelhead and other

unlisted salmonids released from FWS

mitigation hatchery programs in central

Washington and to provide technical

assistance to agencies, tribes, and

interest groups using and managing

aquatic resources in the mid to upperColumbia River Basin. Some ESA-listed

juvenile fish will be captured with

screw traps, handled, and released, and

some adult and juvenile fish will be

observed during snorkel surveys. Permit

1119 expires on December 31, 2002.

Notice was published on February 25,

1998 (63 FR 9505), that an application

had been filed by USGS for a scientific

research permit. Permit 1130 was issued

to USGS on April 24, 1998. Permit 1130

authorizes USGS takes of juvenile,

threatened, naturally produced and

artificially propagated, Snake River

spring/summer chinook salmon;

juvenile, threatened, Snake River fall

chinook salmon; and juvenile,

endangered, artificially propagated,

upper Columbia River steelhead

associated with research designed to

determine the movement, distribution,

and passage behavior of radio-tagged

juvenile salmonids at Bonneville, The

Dalles, and John Day Dams on the

Columbia River. The results of the

research will be used by the U.S. Army

Corps of Engineers to assess fish passage

efficiency at John Day and The Dalles

Dams and to increase bypass efficiency

for juvenile salmonids at the dams by

effectively designing and positioning

prototype surface bypass/collection

structures. Permit 1130 expires on

December 31, 2002.

Notice was published on February 25,

1998 (63 FR 9505), that an application

had been filed by POP for a scientific

research permit. Permit 1131 was issued

to POP on April 24, 1998. Permit 1131

authorizes POP takes of juvenile,

endangered, Snake River sockeye

salmon; adult and juvenile, threatened,

naturally produced and artificially

propagated, Snake River spring/summer

chinook salmon; adult and juvenile,

threatened, Snake River fall chinook

salmon; and adult and juvenile,

endangered, naturally produced and

artificially propagated, UCR steelhead

associated with research designed to

determine the presence and distribution

of fish in shallow water habitats

between the lower end of Hayden Island

and the Sandy River delta on the

Columbia River. Information will be

used to: (1) develop a comprehensive

management plan for the lower

Columbia River in cooperation with the

states of OR and WA, (2) prepare

environmental impact assessments

associated with shoreline development

projects, and (3) design mitigation plans

to compensate for the loss of shallow

water habitat due to future shoreline

development projects. Permit 1131

expires on January 31, 2000.

Notice was published on February 25,

1998 (63 FR 9505), that an application

had been filed by Andre M. Landry,

Texas A&M University, for a scientific

research permit. Permit 1133 was issued

on May 1, 1998. Permit 1133 authorizes

the take of up to 200 Kemp’s ridley, 20

hawksbill, 150 green, and 100

loggerhead turtles annually from

locations within the Gulf of Mexico,

primarily through the use of

entanglement nets for the purpose of

conducting studies on population status

and recovery potential, habitat

preference, movement and migration,

foraging patterns, and impact of man’s

activities such as commercial and

recreational fishing, dredging and

habitat alteration/pollution. All

captured turtles may be weighed,

photographed, measured, blood

sampled, and PIT and flipper tagged.

Certain turtles may be radio, sonic and/

or satellite tagged, and fecal and tissue

sampled. Additionally, stomach lavage

techniques may be deployed where

necessary. Permit 1133 expires on

January 31, 2003.

Notice was published on March 2,

1998 (63 FR 10198), that an application

had been filed by OCFWRU for a

scientific research permit. Permit 1136

was issued to OCFWRU on April 24,

1998. Permit 1136 authorizes OCFWRU

annual takes of juvenile, endangered,
27058 Federal Register / Vol. 63, No. 94 / Friday, May 15, 1998 / Notices

Snake River sockeye salmon; juvenile,

threatened, naturally produced and

artificially propagated, Snake River

spring/summer chinook salmon;

juvenile, threatened, Snake River fall

chinook salmon; and juvenile,

endangered, naturally produced and

artificially propagated, UCR steelhead

associated with research designed to

compare biological and physiological

indices of wild and hatchery juvenile

fish exposed to stress from bypass,

collection, and transportation activities

at the dams on the Snake and Columbia

Rivers. The purpose of the research is to

determine effects of manmade structures

and management activities on

outmigrating salmonids and to provide

information that can be used to improve

their survival. Permit 1136 expires on

December 31, 2000.

Notice was published on March 6,

1998 (63 FR 11220), that an application

had been filed by NWFSC for a

scientific research permit. Permit 1137

was issued to NWFSC on April 24,

1998. Permit 1137 authorizes NWFSC

takes of juvenile, endangered, Snake

River sockeye salmon; juvenile,

threatened, naturally produced and

artificially propagated, Snake River

spring/summer chinook salmon;

juvenile, threatened, Snake River fall

chinook salmon; and juvenile,

endangered, naturally produced and

artificially propagated, UCR steelhead

associated with four scientific research

studies at hydropower dams on the

Snake and Columbia Rivers in the

Pacific Northwest. The purpose of the

four studies are: To evaluate a prototype

fish separator at Ice Harbor Dam; to

establish biological design criteria for

fish passage facilities at McNary Dam; to

evaluate vertical barrier screens, outlet

flow control devices, and methods of

debris control at McNary and Little

Goose Dams; and to evaluate extendedlength bar screens at the first

powerhouse of Bonneville Dam. Permit

1137 expires on December 31, 1998.

Dated: May 8, 1998.

Patricia A. Montanio,

Deputy Director, Office of Protected

Resources, National Marine Fisheries Service.

[FR Doc. 98–12844 Filed 5–14–98; 8:45 am]

BILLING CODE 3510–22–F

COMMODITY FUTURES TRADING

COMMISSION

New York Mercantile Exchange

Proposed Specialist Market Maker

Program

AGENCY: Commodity Futures Trading

Commission.

ACTION: Notice of proposed new rule

and rule amendments of the New York

Mercantile Exchange to establish a

Specialist Market Maker program.

SUMMARY: The New York Mercantile

Exchange (‘‘NYMEX’’ or ‘‘Exchange’’)

has submitted a proposed new rule and

rule amendments that would establish a

Specialist Market Maker (‘‘SMM’’)

program for certain new or low-volume

futures contracts. The Exchange would

appoint one SMM for each contract

market that it determined would benefit

from the SMM program. The SMM

would be required to maintain a

continuous physical presence on the

floor of the Exchange throughout the

regular trading session of the contract

and to maintain a two-sided market in

the contract for which he or she had

been appointed. The SMM also would

be required to maintain a limit order

book of member and non-member (i.e.,

customer) limit orders. In return for

these services, the SMM would be paid

a contract development fee and receive

various priorities with respect to certain

transactions executed in the trading ring

for the appointed contract.

Acting pursuant to the authority

delegated by Commission Regulation

140.96, the Division of Trading and

Markets (‘‘Division’’) has determined to

publish the NYMEX proposal for public

comment. The Division believes that

publication of the proposal is in the

public interest and will assist the

Commission in considering the views of

interested persons.

DATE: Comments must be received on or

before June 15, 1998.

FOR FURTHER INFORMATION CONTACT:

Thomas Smith, Attorney, Division of

Trading and Markets, Commodity

Futures Trading Commission, Three

Lafayette Centre, 1155 21st Street, NW.,

Washington, DC 20581. Telephone:

(202) 418–5495; or electronic mail:

tsmith@cftc.gov.

SUPPLEMENTARY INFORMATION:

I. Description of Proposed SMM

Program

A. Introduction

By letter dated April 16, 1998,

NYMEX submitted proposed new Rule

6.45 (‘‘Specialist Market Maker

Program’’) and proposed amendments to

Rule 6.43A (‘‘Broker Registration

Requirements’’) pursuant to Section

5a(a)(12)(A) of the Commodity Exchange

Act (‘‘Act’’) and Commission Regulation

1.41(c). The proposed new rule and rule

amendments would establish an SMM

program for certain new or low-volume

futures contracts. The SMM program is

intended to provide liquidity for new or

illiquid markets and would be

terminated once the contract obtained a

predetermined trading volume. The

SMM program is patterned after a

market maker program at the Chicago

Mercantile Exchange that was

previously approved by the Commission

on April 20, 1995.

NYMEX intends to implement the

SMM program in the Cinergy Electricity

and Entergy Electricity futures

contracts, which were approved by the

Commission for trading on March 23,

1998. NYMEX anticipates listing the

two new electricity futures contracts for

trading within the next few months. The

SMM program may be extended to other

new or low-volume futures contracts at

a later date.

B. SMM Eligibility Criteria

Applications for SMM positions

would be accepted from members and

member firms. Applications also would

be accepted from individuals and firms

that were not members or member firms.

Appointment as an SMM could not

occur however, until the individual or

firm had been approved by the NYMEX

Board of Directors as a member or

member firm.

NYMEX would establish a new

Exchange Committee, the Specialist

Review Committee (‘‘SRC’’). The SRC

would assess each SMM applicant’s

financial resources, operational

capabilities, trading experience,

regulatory history, and ability and

willingness to promote NYMEX as a

marketplace and would report its

findings to the Board of Directors.

Prospective SMM applicants also would

need to demonstrate that they have the

ability to provide multiple qualified

personnel with the capability to perform

the defined SMM obligations and have

working capital in excess of $500,000.

The Board of Directors would make the

final decision as to which applicants to

appoint as SMMs.

Only one SMM would be appointed

for each contract market eligible for the

SMM program. The Board of Directors,

however, may appoint a member or

member firm as an SMM for more than

one contract market.

For any market for which an SMM has

been appointed, the Exchange would

issue an SMM trading permit to the

SMM. The permit would allow the

member or member firm to perform the

SMM functions without incurring the

cost of dedicating a membership for use

in that designated futures contract.

Thus, for example, if a member firm

with two full NYMEX memberships

were appointed an SMM in a new

contract, the member firm would be

permitted to act as the SMM for the new