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[Federal Register: November 5, 1998 (Volume 63, Number 214)]
[Notices]
[Page 59764-59765]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr05no98-46]

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COMMODITY FUTURES TRADING COMMISSION


New York Mercantile Exchange Amendment to Petition for Exemption
from the Dual Trading Prohibition in Affected Contract Markets

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of amendment to a petition for exemption from the
prohibition on dual trading in an affected contract market.

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SUMMARY: New York Mercantile Exchange ("NYMEX" or "Exchange") has
submitted to the Commodity Futures Trading Commission ("Commission")
an amendment and update to its October 25, 1993 petition for exemption
from the prohibition against dual trading in five contract markets. The
Exchange had resubmitted a corrected petition on December 1, 1993.
Copies of the entire file, including 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 are available from the Office of the
Secretariat, Commodity Futures Trading Commission, Three Lafayette
Centre, 1155 21st Street, NW, Washington, DC 20581. Reference should be
made to the NYMEX dual trading exemption petition file.

FOR FURTHER INFORMATION CONTACT:
Duane C. Andresen, Special Counsel, Division of Trading and Markets,
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st
Street, NW, Washington, DC 20581; telephone: (202) 418-5490.

SUPPLEMENTARY INFORMATION: Pursuant to Sections 4j(a)(1) and (3) of the
Commodity Exchange Act ("Act") and Commission Regulation 155.5
thereunder, a board of trade may submit a petition to the Commission to
exempt any of its affected contract markets (markets with an average
daily trading volume equal to or in excess of 8,000 contracts for four
consecutive quarters) from the prohibition against dual trading.
Regulation 15.5(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.
    NYMEX originally submitted a petition for a dual trading exemption
on October 25, 1993. After the Commission requested additional
information, the Exchange submitted a corrected petition on December 1,
1993. That petition was

[[Page 59765]]

made available to the public by a notice of availability published in
the Federal Register on December 22, 1993. Pursuant to a request from
the Commission, NYMEX submitted a dual trading petition amendment and
update dated September 30, 1998 for its Light Sweet Crude Oil, Natural
Gas, New York Harbor No. 2 Heating Oil, and Harbor Unleaded Gasoline
futures contracts and the option contracts on Light Sweet Crude Oil
futures.
    Copies of the file containing all these materials and any future
submissions, 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, Three
Lafayette Centre, 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 NYMEX's request for confidential
treatment may be available upon request pursuant to the Freedom of
Information Act ("FOIA") (5 U.S.C. Sec. 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 FOIA,
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.
    NYMEX timely submitted its original petition before October 26,
1993, the effective date of the dual trading prohibition. Therefore,
application of the prohibition against the contract markets 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 October 30, 1998.
Alan L. Seifert,
Deputy Director, Division of Trading and Markets.
[FR Doc. 98-29667 Filed 11-4-98; 8:45 am]
BILLING CODE 6351-01-M
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