Section 4(c) Contract Market Transactions; Swap Agreements

COMMODITY FUTURES TRADING COMMISSION

17 CFR Parts 35 and 36

Section 4(c) Contract Market Transactions; Swap Agreements

AGENCY: Commodity Futures Trading Commission.

ACTION: Extension of comment period.

-----------------------------------------------------------------------

SUMMARY: On October 28, 1994, the Commission published in the Federal

Register a notice proposing rules in a new Part 36 which would permit

certain contract market transactions meeting specified criteria to

trade pursuant to an exemption from certain requirements of the

Commodity Exchange Act and Commission regulations. The notice also

seeks comment on whether Part 35 (Exemption of Swap Agreements) should

be amended to include stand-alone prohibitions of fraud and price

manipulation similar to those being proposed in new Part 36, and

whether the proposed requirements for eligible participants in new Part

36 should be applied to the Commission's previously-granted exemptions,

including the exemption for swap agreements in Part 35. 59 FR 54139.

The applicable comment period expires on December 12, 1994. The

Commission has received a number of requests for an extension of the

comment period, particularly with regard to amendments to Part 35. In

order to ensure that all interested parties have an opportunity to

submit meaningful comments, the Commission has determined to extend the

period for public comment concerning only those issues involving swap

agreements. This extension would not affect the closing date for

commenting on proposed Part 36.

DATES: Written comments concerning swap agreements must be received by

the Commission by the close of business on January 31, 1995.

ADDRESSES: Comments should be sent to Jean A. Webb, Secretary,

Commodity Futures Trading Commission, 2033 K Street, NW., Washington,

DC 20581. Reference should be made to section 4(c) contract market

transactions and/or swap agreements.

FOR FURTHER INFORMATION CONTACT:

Ellyn S. Roth, Attorney, Office of the General Counsel, Commodity

Futures Trading Commission, 2033 K Street, NW., Washington DC 20581.

Telephone: (202) 254-9880.

Issued in Washington, DC, this 8th day of December, 1994, by the

Commission.

Jean A. Webb,

Secretary of the Commission.

[FR Doc. 94-30690 Filed 12-13-94; 8:45 am]

BILLING CODE 6351-01-M