98-3633. Applications of the New York Mercantile Exchange for Designation as a Contract Market in Cinergy Electricity Futures and Options and Entergy Electricity Futures and Options, Submitted Under 45-Day Fast Track Procedures

[Federal Register Volume 63, Number 30 (Friday, February 13, 1998)]
[Notices]
[Page 7406]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-3633]



[[Page 7406]]

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COMMODITY FUTURES TRADING COMMISSION


Applications of the New York Mercantile Exchange for Designation 
as a Contract Market in Cinergy Electricity Futures and Options and 
Entergy Electricity Futures and Options, Submitted Under 45-Day Fast 
Track Procedures

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of proposed terms and conditions for 
applications for contract market designation.

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SUMMARY: The New York Mercantile Exchange (NYMEX or Exchange) has 
applied for designation as a contract market in Cinergy and Entergy 
electricity futures and option 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 March 2, 1998.

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 [phone], or by electronic mail to [e-mail]. 
Reference should be made to NYMEX Cinergy and Entergy electricity 
futures and option contracts.

FOR FURTHER INFORMATION CONTACT: Please contact Joseph Storer of the 
Division of Economic Analysis, Commodity Futures Trading Commission, 
Three Lafayette Centre, 21st Street NW, Washington, DC 20581, telephone 
[phone]. Facsimile number: [phone]. Electronic mail: 
[e-mail].

SUPPLEMENTARY INFORMATION: The proposed 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 F.R. 10434). Under those procedures, the 
proposals, absent any contrary action by the Commission, may be deemed 
approved at the close of business on March 23, 1998, 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 [phone], or via the 
internet on the CFTC website at www.cftc.gov under ``What's Pending.''
    Other materials submitted by the NYMEX in support of the proposals 
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 NYMEX, 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 February 6, 1998.
John R. Mielke,
Acting Director.
[FR Doc. 98-3633 Filed 2-12-98; 8:45 am]
BILLING CODE 6351-01-P