Chicago Mercantile Exchange Proposed Futures and Option Contracts on the Mini Standard & Poor's 500 Stock Price Index

COMMODITY FUTURES TRADING COMMISSION

Chicago Mercantile Exchange Proposed Futures and Option Contracts

on the Mini Standard & Poor's 500 Stock Price Index

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

the Mini Standard & Poor's 500 Stock Price Index. 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 proposal 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 June 27, 1997.

ADDRESSES: Interested persons should submit their views and comments to

Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three

Lafayette Centre, 1155 21st St., NW, Washington, DC 20581. In addition,

comments may be sent by facsimile

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transmission to (202) 418-5521 or by electronic mail to

[email protected]. Reference should be made to the Chicago Mercantile

Exchange Mini Standard & Poor's 500 Stock Price Index futures and

option contracts.

FOR FURTHER INFORMATION CONTACT: Please contact Michael Penick of the

Division of Economic Analysis, Commodity Futures Trading Commission,

Three Lafayette Centre, 1155 21st St., NW, Washington, DC 20581,

telephone 202-418-5275. Facsimile number (202) 418-5527. Electronic

mail [email protected].

SUPPLEMENTARY INFORMATION: The CME has requested an abbreviated 15-day

public comment period. In that regard, the CME noted that there are no

substantive issues raised by these applications since futures and

options with similar terms based on the S&P 500 are actively traded.

The Division believes that for the above reasons, and in particular

because the proposed contracts are identical to the actively traded S&P

500 contract (except for the contract size and the minimum price

fluctuation), a 15-day comment period is appropriate for these

applications.

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 St., NW, 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, by phone at (202) 418-

5100, or via the internet on the CFTC website at www.cftc.gov under

``What's Pending.'' .

Other materials submitted by the CME in support of the application

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 Futures Trading Commission, Three

Lafayette Centre, 1155 21st St., NW, Washington, DC 20581 by the

specified date.

Issued in Washington, DC, on June 6, 1997.

John R. Mielke,

Acting Director.

[FR Doc. 97-15425 Filed 6-11-97; 8:45 am]

BILLING CODE 6351-01-P