[Federal Register Volume 60, Number 154 (Thursday, August 10, 1995)]
[Notices]
[Pages 40825-40826]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-19814]



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COMMODITY FUTURES TRADING COMMISSION


Chicago Mercantile Exchange Options on the Federal Funds Rate 
Futures Contract, and Amendments to the Dormant Federal Funds Rate 
Futures Contract

AGENCY: Commodity Futures Trading Commission.

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

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SUMMARY: The Chicago Mercantile Exchange (CME or Exchange) has applied 
for designation as a contract market in options on its federal funds 
rate futures contract. In addition, the CME proposes to amend the 
dormant federal funds rate futures contract that would underlie the 
proposed contract, and it has filed a request to list federal funds 
rate futures and option contracts for trading through GLOBEX. 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.

DATES: Comments must be received on or before September 11, 1995.

ADDRESSES: Interested persons should submit their views and comments to 
Jean A. Webb, Secretary, Commodity Futures Trading Commission, 2033 K 
Street NW, Washington, DC 20581. Reference should be made to the CME 
federal funds rate futures option contract and the request to 
reactivate trading in the federal funds rate futures contract.

FOR FURTHER INFORMATION CONTACT: Please contact Stephen Sherrod of the 
Division of Economic Analysis, Commodity Futures Trading Commission, 
2033 K Street NW, Washington, DC 20581, telephone 202-254-7303.

SUPPLEMENTARY INFORMATION: Regarding the dormant federal funds rate 
futures contract, the CME proposes to revise the trading unit to 
represent interest paid on a $3 million, rather than a $5 million, 30-
day borrowing of overnight Federal funds. This proposal would lower the 
value of a basis point change to $25 from $41.67. The Exchange also 
proposes to reduce the minimum price fluctuation to .005 from .01 and 
to establish price limits for trading during the GLOBEX session.
    Copies of the terms and conditions will be available for inspection 
at the Office of the Secretariat, Commodity Futures Trading Commission, 
2033 K Street, N.W., Washington, D.C. 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) 254-6314.
    Other materials submitted by the CME may be available upon request 
pursuant to the Freedom of Information Act (5 U.S.C. 552) and the 
Commission's regulations thereunder (17 C.F.R. Part 145 (1987)), except 
to the extent they are entitled to confidential treatment as set forth 
in 17 C.F.R. 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 C.F.R. 145.7 and 145.8.
    Any person interested in submitting written data, views, or 
arguments on the proposed terms and conditions, or with respect to 
other materials submitted by the CME, should send such comments to Jean 
A. Webb, Secretary, Commodity Futures Trading Commission, 2033 K 
Street, NW, Washington, DC 20581 by the specified date.

 
[[Page 40826]]

    Issued in Washington, DC, on August 4, 1995.
Blake Imel,
Acting Director.
[FR Doc. 95-19814 Filed 8-9-95; 8:45 am]
BILLING CODE 6351-01-P