[Federal Register Volume 61, Number 245 (Thursday, December 19, 1996)]
[Notices]
[Pages 66996-66997]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-32196]


=======================================================================
-----------------------------------------------------------------------

COMMODITY FUTURES TRADING COMMISSION


Rule Enforcement Review of Broker Associations

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice and request for comment.

-----------------------------------------------------------------------

SUMMARY: As part of a rule enforcement review of the programs in place 
at U.S. futures exchanges for monitoring trading by members of broker 
associations, and the operation of broker associations generally, the 
Commission is seeking public comment with regard to all aspects of 
broker association activities. Comments are particularly invited on: 
(a) any impact broker associations may have on the handling and 
execution of orders; (b) any impact on open outcry trading; (c) any 
relationship between broker associations and the potential for non-
competitive trading; (d) any benefits of membership in a broker 
association, both for-profit and not for-profit; and (e) any 
restrictions that could appropriately be placed on trading among 
members within a broker association.

DATES: Comments must be received on or before January 21, 1997.

ADDRESSES: Interested persons should submit their views and comments to 
Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st St., 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 broker association rule enforcement 
review.

FOR FURTHER INFORMATION CONTACT:
Please contact Duane C. Andresen, Special Counsel, Division of Trading 
and Markets, Commodity Futures Trading Commission, Three Lafayette 
Centre, 1155 21st St., NW., Washington, DC 20581. Telephone: (202) 418-
5490.

SUPPLEMENTARY INFORMATION: Pursuant to Section 5a(a)(8) of the 
Commodity Exchange Act and Commission Regulation 1.51, the Commission's 
Division of Trading and Markets is conducting a ``horizontal,'' or 
``issue-based,'' rule enforcement review of the

[[Page 66997]]

programs in place at U.S. futures exchanges for monitoring broker 
associations, including, among other things, membership, registration 
and trading activity. The purpose of the review is to examine exchange 
broker association programs for compliance with Sections 4j(d) (1) and 
(2) and 5a(a)(13) of the Commodity Exchange Act, Commission Regulations 
156.1 through 156.3 and exchange rules and procedures. During the 
information gathering phase of the review, Commission staff intends to 
interview exchange compliance staff and exchange members and will 
consider written comment from all interested persons.
    Any person interested in submitting written data, views or 
arguments on the subject of broker associations should send such 
comments to Jean A. Webb, Secretary, Commodity Futures Trading 
Commission, Three Lafayette Centre, 1155 21st St., NW., Washington, DC 
20581 by the specified date.

    Issued in Washington, DC, on December 12, 1996 by the 
Commission.
Jean A. Webb,
Secretary of the Commission.
[FR Doc. 96-32196 Filed 12-18-96; 8:45 am]
BILLING CODE 6351-01-M