[Federal Register Volume 61, Number 82 (Friday, April 26, 1996)]
[Notices]
[Pages 18571-18572]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-10353]



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COMMODITY FUTURES TRADING COMMISSION


Chicago Board of Trade Long-Term U.K. Gilt Futures and Option 
Contracts

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of the terms and conditions of proposed 
commodity futures option contract and amendments to the underlying 
futures contract.

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SUMMARY: The Chicago Board of Trade (CBT or Exchange) has submitted a 
proposal to implement a trading and clearing link (link) with the 
London International Financial Futures and Options Exchange (LIFFE). 
That proposal currently is under review at the Commission. <SUP>1 
Pursuant to the proposed link, CBT and LIFFE would trade their major 
financial futures and options contracts, including the subject U.K. 
gilt option and the underlying U.K. gilt futures contract, on each 
other's floors by open outcry. Effectively, the link would permit 
``cross listing'' of the CBT and LIFFE U.K. gilt futures and option 
contracts.
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    \1\ The Commission requested public comment on the CBT/LIFFE 
link proposal in a Federal Register notice dated April 18, 1996 (61 
FR 16899).
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    All contracts traded through the link would be completely fungible. 
Accordingly, the CBT has proposed to amend the terms and conditions of 
its existing dormant U.K. gilt futures contract to be compatible with 
the terms and conditions of the corresponding LIFFE contract. In 
addition, the CBT has submitted an application for designation as a 
contract market in options on its existing U.K. gilt futures contract.
    The 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 
purposes of the Commodity Exchange Act.

DATE: Comments must be received on or before May 28, 1996.

ADDRESSES: Interested persons should submit their views and comments to 
Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three 
Lafayette Street, 1155 21st Street, Washington, DC 20581. Reference 
should be made to the CBT option on the long-term U.K. Gilt futures 
contract and the amendments to the underlying futures contract.

FOR FURTHER INFORMATION CONTACT: Please contact Steve Sherrod of the 
Division of Economic Analysis, Commodity Futures Trading Commission, 
Three Lafayette Centre, 1155 21st Street, NW., Washington, DC 20581, 
telephone, 202-418-5277.

SUPPLEMENTARY INFORMATION: Copies of the terms and conditions of the 
proposed option contract and those of the amended futures contract 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 of the terms and conditions can be 
obtained through the Office of the Secretariat by mail at the above 
address or by phone at (202) 418-5097.
    Other materials submitted by the CBT in support of the proposals 
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 (1987)), 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 the 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 terms and conditions of the proposed option contract 
or the amended futures contract, or with respect to other materials 
submitted by the CBT in support of the proposals, should send such 
comments to Jean A. Webb,

[[Page 18572]]

Secretary, Commodity Futures Trading Commission, Three Lafayette 
Centre, 1155 21st Street, NW., Washington, DC, 20581 by the specified 
date.

    Issued in Washington, DC, on April 22, 1996.
Blake Imel,
Acting Director.
[FR Doc. 96-10353 Filed 4-25-96; 8:45 am]
BILLING CODE 6351-01-P