98-29667. New York Mercantile Exchange Amendment to Petition for Exemption from the Dual Trading Prohibition in Affected Contract Markets

[Federal Register Volume 63, Number 214 (Thursday, November 5, 1998)]
[Notices]
[Pages 59764-59765]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-29667]


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COMMODITY FUTURES TRADING COMMISSION


New York Mercantile Exchange Amendment to Petition for Exemption 
from the Dual Trading Prohibition in Affected Contract Markets

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of amendment to a petition for exemption from the 
prohibition on dual trading in an affected contract market.

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SUMMARY: New York Mercantile Exchange (``NYMEX'' or ``Exchange'') has 
submitted to the Commodity Futures Trading Commission (``Commission'') 
an amendment and update to its October 25, 1993 petition for exemption 
from the prohibition against dual trading in five contract markets. The 
Exchange had resubmitted a corrected petition on December 1, 1993. 
Copies of the entire file, including any future submissions, will be 
available to the public upon request, except to the extent the Exchange 
has requested confidential treatment.

ADDRESSES: Copies of the file are available from the Office of the 
Secretariat, Commodity Futures Trading Commission, Three Lafayette 
Centre, 1155 21st Street, NW, Washington, DC 20581. Reference should be 
made to the NYMEX dual trading exemption petition file.

FOR FURTHER INFORMATION CONTACT:
Duane C. Andresen, Special Counsel, Division of Trading and Markets, 
Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st 
Street, NW, Washington, DC 20581; telephone: [phone].

SUPPLEMENTARY INFORMATION: Pursuant to Sections 4j(a)(1) and (3) of the 
Commodity Exchange Act (``Act'') and Commission Regulation 155.5 
thereunder, a board of trade may submit a petition to the Commission to 
exempt any of its affected contract markets (markets with an average 
daily trading volume equal to or in excess of 8,000 contracts for four 
consecutive quarters) from the prohibition against dual trading. 
Regulation 15.5(d)(6) authorizes the Director of the Division of 
Trading and Markets to publish notice of each exemption petition deemed 
complete under Regulation 155.5(d) and to make the petition available 
to the public as required by Section 4j(a)(5) of the Act.
    NYMEX originally submitted a petition for a dual trading exemption 
on October 25, 1993. After the Commission requested additional 
information, the Exchange submitted a corrected petition on December 1, 
1993. That petition was

[[Page 59765]]

made available to the public by a notice of availability published in 
the Federal Register on December 22, 1993. Pursuant to a request from 
the Commission, NYMEX submitted a dual trading petition amendment and 
update dated September 30, 1998 for its Light Sweet Crude Oil, Natural 
Gas, New York Harbor No. 2 Heating Oil, and Harbor Unleaded Gasoline 
futures contracts and the option contracts on Light Sweet Crude Oil 
futures.
    Copies of the file containing all these materials and any future 
submissions, except to the extent the Exchange has requested 
confidential treatment in accordance with 17 CFR 145.9, are available 
for inspection at the Commission's Office of the Secretariat, Three 
Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581, and may 
be obtained by mail at that address or by telephone at [phone].
    Petition materials subject to NYMEX's request for confidential 
treatment may be available upon request pursuant to the Freedom of 
Information Act (``FOIA'') (5 U.S.C. Sec. 552) and the Commission's 
regulations thereunder (17 CFR Part 145), 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 FOIA, 
Privacy and Sunshine Act Compliance Staff of the Office of the 
Secretariat at the above address in accordance with 17 CFR 145.7 and 
145.8.
    NYMEX timely submitted its original petition before October 26, 
1993, the effective date of the dual trading prohibition. Therefore, 
application of the prohibition against the contract markets covered by 
the petition has been suspended in accordance with Commission 
Regulation 155.5(d)(5) and will remain suspended until the petition is 
acted upon.

    Issued in Washington, DC, on October 30, 1998.
Alan L. Seifert,
Deputy Director, Division of Trading and Markets.
[FR Doc. 98-29667 Filed 11-4-98; 8:45 am]
BILLING CODE 6351-01-M