[Federal Register Volume 72, Number 249 (Monday, December 31, 2007)]
[Proposed Rules]
[Page 74213]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-25344]


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COMMODITY FUTURES TRADING COMMISSION

17 CFR Part 150

RIN 3038-AC51


Revision of Federal Speculative Position Limits

AGENCY: Commodity Futures Trading Commission.

ACTION: Reopening of comment period.

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SUMMARY: The Commodity Futures Trading Commission is reopening the 
period for public comment to provide interested persons additional time 
to comment on certain proposed amendments pertaining to the Federal 
speculative position limits for agricultural commodities.

DATES: Comments must be received by January 21, 2008.

ADDRESS: Comments should be submitted to David A. Stawick, Secretary, 
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st 
Street, NW., Washington, DC 20581. Comments may be sent by facsimile to 
202.418.5521, or by e-mail to [email protected]. Reference should be 
made to the ``Proposed Revision of Federal Speculative Position 
Limits.'' Comments may also be submitted through the Federal 
eRulemaking Portal at http://www.regulations.gov.

FOR FURTHER INFORMATION CONTACT: Don Heitman, Attorney, Division of 
Market Oversight, Commodity Futures Trading Commission, Three Lafayette 
Centre, 1155 21st Street, NW., Washington, DC 20581, telephone (202) 
418-5041, facsimile number (202) 418-5507, electronic mail 
[email protected]; or Martin Murray, Economist, Division of Market 
Oversight, telephone (202) 418-5276, facsimile number (202) 418-5507, 
electronic mail [email protected].

SUPPLEMENTARY INFORMATION: The Commission is reopening the period for 
public comment on proposed amendments to regulation 150.2.\1\ The 
amendments were proposed on November 21, 2007 and the comment period 
initially closed on December 21, 2007.\2\ The amendments, if adopted by 
the Commission, would increase the Federal speculative position limits 
enumerated in regulation 150.2 for all single-month and all-months-
combined positions in all commodities except oats, pursuant to 
parameters specified in Commission regulation 150.5(c). The amendments 
would also aggregate positions in all designated contract market 
products that share substantially identical terms with the contracts 
enumerated in regulation 150.2 for the purposes of ascertaining 
compliance with the Federal speculative position limits.
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    \1\ 17 CFR 150.2.
    \2\ 72 FR 65783 (November 21, 2007).
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    By letter dated December 7, 2007, the National Grain and Feed 
Association, an association representing companies that utilize 
exchange traded agricultural contracts to manage price and inventory 
risks,\3\ and by letter dated December 14, 2007, the American Bakers 
Association, an association representing the interests of the wholesale 
baking industry,\4\ requested an extension of the comment period to 
better develop a response to Commission's proposed amendments. While 
the Commission has received commentary on the proposed amendments,\5\ 
it believes that it would be appropriate to reopen the comment period 
to ensure that an adequate opportunity is provided for the submission 
of additional meaningful and substantive comments. Accordingly, the 
Commission has determined to reopen the comment period for the proposed 
amendments to regulation 150.2 to January 21, 2008. The Commission 
notes that it will give full consideration to any comment received in 
the interval between the closing and reopening of the comment period 
for the proposed amendments.
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    \3\ Letter from Rod Clark, Chair, Risk Management Committee, 
National Grain and Feed Association, to David A. Stawick, Secretary 
of the Commission (December 7, 2007) (on file with the Commission).
    \4\ Letter from Lee Sanders, Senior Vice President, Government 
Relations & Public Affairs, Corporate Secretary, American Bakers 
Association, to David A. Stawick, Secretary of the Commission 
(December 14, 2007) (on file with the Commission).
    \5\ Comment File: 07-014, available at http://www.cftc.gov/lawandregulation/federalregister/federalregistercomments/2007/07-014.html.

    Issued in Washington, DC, on December 21, 2007 by the 
Commission.
David A. Stawick,
Secretary of the Commission.
[FR Doc. E7-25344 Filed 12-28-07; 8:45 am]
BILLING CODE 6351-01-P