38544 Federal Register / Vol. 63, No. 137 / Friday, July 17, 1998 / Proposed Rules

Criterion

Applicable

CFTC rule (17

CFR)

Standard

Met by

exchange

rule number

Justification for

not meeting

standard, or rule

number of identical approved

rule

Speculative limits .............................. 150.5 ................ Combined net position in futures and options on a futures-equivalent basis at the futures position levels,

with inter-month spread exemptions that are consistent with those of the futures contract.

2. Aggregation rule ........................... 150.4 ................ Same as Rule 150.5(g) or previously approved language.

3. Reporting level ............................. 15.00(b)(2) ........ 50 contracts or fewer.

4. Strike prices (number listed & increments).33.4(b)(1) .......... Procedures for listing strikes are specified and automatic.

5. Option expiration & last trading

day.

33.4(d)(1) .......... Except for options on cash-settled futures contracts,

expiration is not less than one business day before

the earlier of the last trading day or the first notice

day of the underlying future.

6. Minimum tick ................................ 33.4(d) .............. Equal to, or less than, the underlying futures tick.

7. Daily price limit, if specified .......... 33.4(d) .............. Equal to, or greater than, the underlying futures price

limit.

(4) As specifically requested, such

additional evidence, information or data

relating to whether the contract meets,

initially or on a continuing basis, any of the

specific requirements of the Act, including

the public interest standard contained in

Section 5(7) of the Act or any other

requirement for designation under the Act or

Commission rules and policies.

3. Part 5 is proposed to be amended

by adding new Appendix E to read as

follows:

Appendix E—Information That a Foreign

Board of Trade Should Submit When

Seeking No-Action Relief To Offer and Sell

in the United States a Futures Contract on

a Foreign Securities Index Traded on That

Exchange

A foreign board of trade seeking no-action

relief to offer and to sell in the United States

a futures contract on a foreign securities

index traded on that exchange should submit

the following information in English:

(1) The terms and conditions of the

contract and all other relevant rules of the

exchange and, if applicable, of the exchange

on which the underlying securities are

traded, which have an effect on the overall

trading of the contract, including circuit

breakers, price limits, position limits or other

controls on trading;

(2) Surveillance agreements between the

foreign boards of trade and the exchange(s)

on which the underlying securities are

traded;

(3) Information sharing agreements

between the host regulator and the

Commission or assurances of ability and

willingness to share and assurances from the

foreign exchange of its ability and

willingness to share information with the

Commission.

(4) When applicable, information regarding

foreign blocking statutes and their impact on

the ability of United States government

agencies to obtain information concerning

the trading of such contracts; and

(5) Information and data, denoted in U.S.

dollars, relating to:

(i) The method of computation,

availability, and timeliness of the index;

(ii) The total capitalization, number of

stocks (including the number of unafiliated

issuers if different from the number of

stocks), and weighting of the stocks by

capitalization and if applicable by price, in

the index;

(iii) Breakdown of the index by industry

segment including the capitalization and

weight of each industry segment;

(iv) Procedures and criteria for selection of

individual securities for inclusion in, or

removal from, the index, how often the index

is regularly reviewed, and any procedures for

changes in the index between regularly

scheduled reviews;

(v) Method of calculation of the cashsettlement price and the timing of its public

release; and

(vi) Average daily volume of trading by

calendar month, measured by share turnover

and dollar value, in each of the underlying

securities for a six-month period of time and,

separately, the daily volume in each

underlying security for six expirations (cashsettlement dates) or for the six days of that

period on which cash-settlement would have

occurred had each month of the period been

an expiration month.

Issued in Washington, D.C. this 13th day

of July, 1998 by the Commodity Futures

Trading Commission.

Jean Webb,

Secretary of the Commission.

[FR Doc. 98–19113 Filed 7–16–98; 8:45 am]

BILLING CODE 6351–01–M

ENVIRONMENTAL PROTECTION

AGENCY

40 CFR Part 63

[FRL–6123–5]

Delegation of National Emission

Standards for Hazardous Air Pollutants

for Source Categories; State of

Arizona; Arizona Department of

Environmental Quality

AGENCY: Environmental Protection

Agency (EPA).

ACTION: Proposed rule.

SUMMARY: Pursuant to section 112(l) of

the 1990 Clean Air Act (CAA), the

Arizona Department of Environmental

Quality (ADEQ) requested delegation of

specific national emission standards for

hazardous air pollutants (NESHAPs). In

the Rules section of this Federal

Register, EPA is granting ADEQ the

authority to implement and enforce

specified NESHAPs. The direct final

rule also explains the procedure for

future delegation of NESHAPs to ADEQ.

EPA is taking direct final action without

prior proposal because the Agency

views this as a noncontroversial action

and anticipates no adverse comments. A

detailed rationale for this approval is set

forth in the direct final rule. If no

relevant adverse comments are received

in response to the direct final rule, no

further activity is contemplated in

relation to this proposed rule. If EPA

receives relevant adverse comments, the

direct final rule will not take effect and

all public comments received will be

addressed in a subsequent final rule

based on this proposed rule. The EPA
Federal Register / Vol. 63, No. 137 / Friday, July 17, 1998 / Proposed Rules 38545

will not institute a second comment

period on this action. Any parties

interested in commenting on this action

should do so at this time.

DATES: Comments on this proposed rule

must be received in writing by August

17, 1998.

ADDRESSES: Written comments on this

action should be addressed to: Andrew

Steckel, Rulemaking Office (AIR–4), Air

Division, U.S. Environmental Protection

Agency, Region IX, 75 Hawthorne

Street, San Francisco, CA 94105–3901.

Copies of the submitted requests are

available for public inspection at EPA’s

Region IX office during normal business

hours (docket number A–96–25).

FOR FURTHER INFORMATION CONTACT: Mae

Wang, Rulemaking Office (AIR–4), Air

Division, U.S. Environmental Protection

Agency, Region IX, 75 Hawthorne

Street, San Francisco, CA 94105–3901,

Telephone: (415) 744–1200.

SUPPLEMENTARY INFORMATION:

This document concerns delegation of

unchanged NESHAPs to the Arizona

Department of Environmental Quality.

For further information, please see the

information provided in the direct final

action which is located in the Rules

section of this Federal Register.

Authority: This action is issued under the

authority of Section 112 of the Clean Air Act,

as amended, 42 U.S.C. Section 7412.

Dated: June 26, 1998.

David P. Howekamp,

Director, Air Division,

Region IX.

[FR Doc. 98–19137 Filed 7–16–98; 8:45 am]

BILLING CODE 6560–50–P