Petition of the London Clearing House Limited for Exemption Pursuant to Section 4(c) of the Commodity Exchange Act

COMMODITY FUTURES TRADING COMMISSION

Petition of the London Clearing House Limited for Exemption

Pursuant to Section 4(c) of the Commodity Exchange Act

AGENCY: Commodity Futures Trading Commission.

ACTION: Extension of comment period on petition for exemption.

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SUPPLEMENTARY INFORMATION: The Commodity Futures Trading Commission

(Commission) published for comment on July 7, 1998 (63 FR 36657), a

petition submitted by the London Clearing House Limited (LCH)

requesting an exemption, pursuant to Section 4(c) of the Commodity

Exchange Act, in connection with LCH's proposed provision of clearing

services for certain swap agreements. Comments on LCH's petition were

due by September 8, 1998. In response to a request by the International

Swaps and Derivatives Association, Inc., the Commission has determined

to extend the comment period for an additional 15 days. The extended

deadline for comments on the LCH petition is September 23, 1998. The

Commission believes that this extension should give all parties

sufficient time to consider and comment upon the LCH petition and will

look with disfavor upon any further requests for an extension of the

comment period.

Any person interested in submitting comments on the LCH petition

should submit them by the specified date to Jean A. Webb, Secretary,

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

Street, N.W., Washington, DC 20581. In addition, comments may be sent

by facsimile transmission to facsimile number (202) 418-5521, or by

electronic mail to [email protected].

Copies of the LCH petition are available for inspection at the

Office of the Secretariat at the above address. Copies also may be

obtained through the Office of the Secretariat at the above address or

by telephone at (202) 418-5100 or on the Commission's Internet web site

(http://www.cftc.gov).

DATES: Comments must be received on or before September 23, 1998.

FOR FURTHER INFORMATION: Thomas E. Joseph, Attorney Adviser, Division

of Trading and Markets, Commodity Futures Trading Commission, Three

Lafayette Centre, 1155 21st Street, NW., Washington, DC 20581.

Telephone (202) 418-5430.

Issued in Washington, DC on September 8, 1998 by the Commodity

Futures Trading Commission.

Jean Webb,

Secretary of the Commission.

[FR Doc. 98-24574 Filed 9-11-98; 8:45 am]

BILLING CODE 6351-01-M