[Federal Register Volume 62, Number 213 (Tuesday, November 4, 1997)]
[Notices]
[Pages 59660-59661]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-29134]


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COMMODITY FUTURES TRADING COMMISSION


Applications of the Chicago Board of Trade for Designation as a 
Contract Market in PCS Catastrophe Single-Event Insurance Options for 
the Entire U.S. (National) Plus Eight Regional and State-Based 
Contracts Covering the Northeast, West, California, Texas, East, 
Southeast, Midwest, and Florida

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of the terms and conditions of proposed 
commodity option contracts.

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SUMMARY: The Chicago Board of Trade (CBT or Exchange) has applied for 
designation as a contract market in nine options on PCS catastrophe 
single-event insurance. The options include a national contract plus 
eight regional and state-based contracts representing the Northeast, 
West, California, Texas, East, Southeast, Midwest, and Florida. The 
applications 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 November 19, 1997.

ADDRESSES: Interested persons should submit their views and comments to 
Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three 
Lafayette Centre, 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 PCS catastrophe single event insurance 
options.

FOR FURTHER INFORMATION CONTACT: Please contact Mike Penick of the 
Division of Economic Analysis, Commodity Futures Trading Commission, 
Three Lafayette Centre, 21st Street NW, Washington, 20581, telephone 
(202) 418-5279. Facsimile number: (202) 418-5527. Electronic mail: 
[email protected]

SUPPLEMENTARY INFORMATION: The contracts were submitted pursuant to the 
Commission's Fast Track procedures for streamlining the review of 
applications for contract market designation (62 FR 10434). Under those 
procedures, the contracts, absent any contrary action by the 
Commission, may be deemed approved at the close of business on December 
11, 1997, 45 days after receipt of the applications. 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

[[Page 59661]]

provided for applications submitted under the regular review 
procedures.
    Copies of the terms and conditions will be available for inspection 
at the Office of the Secretariat, Commodity Futures Trading Commission, 
Three Lafayette Centre, 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, by phone at (202) 418-5100, 
or via the internet on the CFTC website at www.cftc.gov under ``What's 
Pending''.
    Other materials submitted by the CBT in support of the applications 
for contract market designation 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 
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 proposed terms and conditions, 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, 21st Street NW, Washington, DC 20581 by the specified 
date.

    Issued in Washington, DC, on October 29, 1997.
John R. Mielke,
Acting Director.
[FR Doc. 97-29134 Filed 11-3-97; 8:45 am]
BILLING CODE 6351-01-P