[Federal Register Volume 63, Number 247 (Thursday, December 24, 1998)]
[Notices]
[Page 71271]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-33892]


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COMMODITY FUTURES TRADING COMMISSION


Application of the Chicago Board of Trade for Designation as a 
Contract Market in PJM Western Hub Electricity Futures and Options, 
Submitted Under Fast Track Review Procedures

AGENCY: Commodity Futures Trading Commission.

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

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SUMMARY: The Chicago Board of Trade (CBT or Exchange) has applied for 
designation as a contract market in PJM (Pennsylvania--New Jersey--
Maryland) Western Hub electricity futures and options on futures 
contracts. The proposals 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 January 8, 1999.

ADDRESSES: Interested persons should submit their views and comments to 
Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 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 PJM Western Hub electric futures 
and options on futures contracts.

FOR FURTHER INFORMATION CONTACT: Please contact Joseph Storer of the 
Division of Economic Analysis, Commodity Futures Trading Commission, 
Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581, 
telephone (202) 418-5282. Facsimile number: (202) 418-5527. Electronic 
mail: [email protected]

SUPPLEMENTARY INFORMATION: The designation applications were submitted 
pursuant to the Commission's fast track procedures for streamlining the 
review of futures contract rule amendments and new contract approvals 
(62 FR 10434). Under those procedures, the proposals, absent any 
contract action by the Commission, may be deemed approved at the close 
of business on January 25, 1999, 45 days after receipt of the 
proposals. 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 provided for proposals submitted under the 
regular review procedures.
    Copies of the proposed terms and conditions 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 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 New & 
Pending''.
    Other materials submitted by the CBT in support of the applications 
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 (1997)), 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 proposals, 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, 1155 21st Street NW, Washington, DC 20581 by the specified 
date.

    Issued in Washington, DC, on December 17, 1998.
John R. Mielke,
Acting Director.
[FR Doc. 98-33892 Filed 12-23-98; 8:45 am]
BILLING CODE 6351-01-M