United States Government Publishing Office
publisher
pbl
distributor
dst
United States
National Archives and Records Administration
Office of the Federal Register
author
aut
Government Organization
text
government publication
eng
FR
Regulatory Information
1997_register
executive
2010-09-24
article
Revised Procedures for Commission Review and Approval of Applications for Contract Market Designation and of Exchange Rules Relating to Contract Terms and Conditions
Rules and Regulations
D09002ee1be02377f
D09002ee1be023834
United States
Commodity Futures Trading Commission
originator
org
United States Government Agency or Subagency
On November 22, 1996, the Commodity Futures Trading Commission (``Commission'') proposed rules amending its procedures relating to the review and approval of applications for contract market designation and proposed exchange rule amendments relating to contract terms and conditions. Based upon its consideration of the comments received in response to its Notice of Proposed Rulemaking, 61 FR 59386 (November 22, 1996), and upon its independent analysis, the Commission is promulgating new rule 5.1. Rule 5.1 establishes fast-track procedures for Commission review of exchange applications for contract market designation as an alternative to the current review procedures. Under these alternative procedures, applications for designation of cash-settled and other specified futures and option contracts will be deemed to be approved ten days-- and all others, forty-five days--after receipt, unless the exchange is notified otherwise. The final rules have been modified, in response to public comment, by including within the ten-day category proposed option contracts based upon futures contracts that are already designated and by confirming explicitly within the rule that exchanges may modify applications nonsubstantively under the fast-track review procedures. The Commission also is amending rule 1.41, as proposed, to provide an alternative fast-track review of proposed amendments to contract terms or conditions. These procedures are similar to those for contract market designations and include both ten-day and forty-five-day review periods. These review periods can be extended for one thirty-day period in appropriate instances. In a companion notice published separately in the Federal Register, the Commission also is adopting fast-track procedures relating to the review of proposed exchange rules which do not relate to contract terms or conditions.
62 FR 10434
https://www.govinfo.gov/app/details/FR-1997-03-07/97-5567
97-5567
fr07mr97-11
6351-01-P
https://www.govinfo.gov/app/details/FR-1997-03-07/97-5567
https://www.govinfo.gov/content/pkg/FR-1997-03-07/html/97-5567.htm
https://www.govinfo.gov/content/pkg/FR-1997-03-07/pdf/97-5567.pdf
8 p.
10434
10441
62 FR 10434
Code of Federal Regulations
Title 17 Part 1
17 CFR Part 1
Code of Federal Regulations
Title 17 Part 5
17 CFR Part 5
Revised Procedures for Commission Review and Approval of Applications for Contract Market Designation and of Exchange Rules Relating to Contract Terms and Conditions; Federal Register Vol. 62, Issue
RULE
97-5567
COMMODITY FUTURES TRADING COMMISSION
6351-01-P
97-5567
Final rulemaking.
On November 22, 1996, the Commodity Futures Trading Commission (``Commission'') proposed rules amending its procedures relating to the review and approval of applications for contract market designation and proposed exchange rule amendments relating to contract terms and conditions. Based upon its consideration of the comments received in response to its Notice of Proposed Rulemaking, 61 FR 59386 (November 22, 1996), and upon its independent analysis, the Commission is promulgating new rule 5.1. Rule 5.1 establishes fast-track procedures for Commission review of exchange applications for contract market designation as an alternative to the current review procedures. Under these alternative procedures, applications for designation of cash-settled and other specified futures and option contracts will be deemed to be approved ten days-- and all others, forty-five days--after receipt, unless the exchange is notified otherwise. The final rules have been modified, in response to public comment, by including within the ten-day category proposed option contracts based upon futures contracts that are already designated and by confirming explicitly within the rule that exchanges may modify applications nonsubstantively under the fast-track review procedures. The Commission also is amending rule 1.41, as proposed, to provide an alternative fast-track review of proposed amendments to contract terms or conditions. These procedures are similar to those for contract market designations and include both ten-day and forty-five-day review periods. These review periods can be extended for one thirty-day period in appropriate instances. In a companion notice published separately in the Federal Register, the Commission also is adopting fast-track procedures relating to the review of proposed exchange rules which do not relate to contract terms or conditions.
April 7, 1997.
Paul M. Architzel, Chief Counsel, Division of Economic Analysis, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, N.W., Washington, D.C. 20581, (202) 418-5260, or electronically, [PArchitzel@cftc.gov].
Federal Register
Vol. 62, no. 45
Office of the Federal Register, National Archives and Records Administration
1997-03-07
continuing
daily
deposited
born digital
281 p.
Table of Contents:
AE 2.7:
GS 4.107:
AE 2.106:
KF70.A2
https://www.govinfo.gov/app/details/FR-1997-03-07
P0b002ee180a387a6
0097-6326
0042-1219
0364-1406
769-004-00000-9
000582072
f:fr07mr97
https://www.govinfo.gov/app/details/FR-1997-03-07
https://www.govinfo.gov/content/pkg/FR-1997-03-07/pdf/FR-1997-03-07.pdf
fdlp
10411
10680
DGPO
2010-09-24
2023-05-06
FR-1997-03-07
machine generated
eng
FR
FR-1997-03-07
62
45