99-11367. Chicago Mercantile Exchange Petition for Exemption From the Statutory Dual Trading Prohibition in Affected Contract Markets

[Federal Register Volume 64, Number 87 (Thursday, May 6, 1999)]
[Notices]
[Page 24372]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-11367]


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COMMODITY FUTURES TRADING COMMISSION


Chicago Mercantile Exchange Petition for Exemption From the 
Statutory Dual Trading Prohibition in Affected Contract Markets

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of petition for exemption from the prohibition on duel 
trading in an affected contract market.

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SUMMARY: The Chicago Mercantile Exchange (``CME'' or ``Exchange'') has 
submitted to the Commodity Futures Trading Commission (``Commission'') 
a petition for exemption from the statutory prohibition against dual 
trading in two contract markets. The petition requests an exemption for 
two newly affected contract markets that trade electronically on CME's 
Globex2 system. 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 CME Globex2 dual trading exemption petition 
file.

FOR FURTHER INFORMATION CONTACT: Adam E. Wernow, Attorney-Advisor, 
Division of Trading and Markets, Commodity Futures Trading Commission, 
Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581; 
telephone: [phone]; electronic mail: [e-mail].

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 155.5(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.
    CME submitted a petition for a dual trading exemption dated 
November 17, 1998, and received by the Commission on November 20, 1998, 
for all of its contracts that electronically trade on the Exchange's 
Globex2 system. Presently, only CME's E-Mini S&P 500 and 
Eurodollar futures contracts qualify as affected contract markets for 
purposes of the dual trading prohibition. Consequently, the Commission 
only will consider these markets for an exemption.
    Copies of the file containing this petition and supporting 
materials, as well as 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 CME'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.
    Application of the prohibition in 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 April 29, 1999.
Alan L. Seifert,
Deputy Director, Division of Trading and Markets.
[FR Doc. 99-11367 Filed 5-5-99; 8:45 am]
BILLING CODE 6351-01-M