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[Federal Register: December 24, 1998 (Volume 63, Number 247)]
[Notices]
[Page 71271]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr24de98-41]

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COMMODITY FUTURES TRADING COMMISSION


Application of the Chicago Board of Trade for Designation as a
Contract Market in PJM Western Hub Electricity Futures and Options,
Submitted Under Fast Track Review Procedures

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of the terms and conditions of proposed
commodity futures and option contracts.

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SUMMARY: The Chicago Board of Trade (CBT or Exchange) has applied for
designation as a contract market in PJM (Pennsylvania--New Jersey--
Maryland) Western Hub electricity futures and options on futures
contracts. The proposals were submitted under the Commission's 45-day
fast track procedures. 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 proposals for comment is in the public interest,
will assist the Commission in considering the views of interested
persons, and is consistent with the purpose of the Commodity Exchange
Act.

DATES: Comments must be received on or before January 8, 1999.

ADDRESSES: Interested persons should submit their views and comments to
Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three
Lafayette Centre, 1155 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 [email protected].
Reference should be made to the CBT PJM Western Hub electric futures
and options on futures contracts.

FOR FURTHER INFORMATION CONTACT: Please contact Joseph Storer of the
Division of Economic Analysis, Commodity Futures Trading Commission,
Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581,
telephone (202) 418-5282. Facsimile number: (202) 418-5527. Electronic
mail: [email protected]

SUPPLEMENTARY INFORMATION: The designation applications were submitted
pursuant to the Commission's fast track procedures for streamlining the
review of futures contract rule amendments and new contract approvals
(62 FR 10434). Under those procedures, the proposals, absent any
contract action by the Commission, may be deemed approved at the close
of business on January 25, 1999, 45 days after receipt of the
proposals. In view of the limited review period provided under the fast
track procedures, the Commission has determined to publish for public
comment notice of the availability of the terms and conditions for 15
days, rather than 30 days as provided for proposals submitted under the
regular review procedures.
    Copies of the proposed terms and conditions will be available for
inspection at the Office of the Secretariat, Commodity Futures Trading
Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC
20581. Copies can be obtained through the Office of the Secretariat by
mail at the above address, by phone at (202) 418-5100, or via the
internet on the CFTC website at www.cftc.gov under "What's New &
Pending".
    Other materials submitted by the CBT in support of the applications
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 (1997)), 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 proposals, 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, 1155 21st Street NW, Washington, DC 20581 by the specified
date.

    Issued in Washington, DC, on December 17, 1998.
John R. Mielke,
Acting Director.
[FR Doc. 98-33892 Filed 12-23-98; 8:45 am]
BILLING CODE 6351-01-M
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