Applications of the Chicago Mercantile Exchange for Designation as a Contract Market in Futures and Options on Brazilian ``C'' Brady Bonds, Brazilian ``El'' Brady Bonds, and Argentine ``FRB'' Brady Bonds

COMMODITY FUTURES TRADING COMMISSION

Applications of the Chicago Mercantile Exchange for Designation

as a Contract Market in Futures and Options on Brazilian ``C'' Brady

Bonds, Brazilian ``El'' Brady Bonds, and Argentine ``FRB'' Brady Bonds

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of the terms and conditions of proposed

commodity futures and option contracts.

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SUMMARY: The Chicago Mercantile Exchange (CME or Exchange) has applied

for designation as a contract market in futures and futures options on

Brazilian ``C'' Brady Bonds, Brazilian ``El'' Brady Bonds, and

Argentine ``FRB'' Brady Bonds. 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 purposes of the

Commodity Exchange Act.

DATES: Comments must be received on or before March 13, 1996.

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. Reference

should be made to the CME futures and options on Brazilian ``C'' Brady

Bonds, Brazilian ``El'' Brady Bonds, and Argentine ``FRB'' Brady Bonds.

FOR FURTHER INFORMATION CONTACT: Please contact Stephen Sherrod of the

Division of Economic Analysis, Commodity Futures Trading Commission,

Three Lafayette Centre, 1155 21st Street, Washington, DC, 20581,

telephone 202-418-5277.

SUPPLEMENTARY INFORMATION: The Exchange's proposed Brady bond contracts

are based on the sovereign debt of Argentina and Brazil. The Exchange

has petitioned the SEC to grant the sovereign debt of Argentina and

Brazil exempt status under SEC Rule 240.3a12-8. The SEC published the

proposed amendment to Rule 240.3a12-8 in the Federal Register for a 30-

day public comment period on December 20, 1995. Should the SEC add the

sovereign debt of Argentina and Brazil to the list of exempted

securities, the Commission would then be able to designate futures on

such securities. See Section 2(a)(1)(B)(v) of the Act.

Copies of the terms and conditions will be available for inspection

at the Office of the Secretariat, Commodity Futures Trading Commission,

Three Lafayette Centre, 1155 21st Street Washington, D.C. 20581. Copies

of the terms and conditions can be obtained through the Office of the

Secretariat by mail at the above address or by phone at (202) 418-5097.

Other materials submitted by the CME in support of the applications

for contract market designation 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 (1987)), 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

the 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 proposed terms and conditions, or with respect to

other materials submitted by the CME, should send such comments to Jean

A. Webb, Secretary, Commodity

[[Page 5387]]

Futures Trading Commission, Three Lafayette Centre, 1155 21st Street,

NW, Washington, DC 20581 by the specified date.

Issued in Washington, DC, on February 5, 1996.

Blake Imel,

Acting Director.

[FR Doc. 96-3002 Filed 2-9-96; 8:45 am]

BILLING CODE 6351-01-P