Proposed Rulemaking Concerning Account Identification for Eligible Bunched Orders

COMMODITY FUTURES TRADING COMMISSION

17 CFR Part 1

Proposed Rulemaking Concerning Account Identification for

Eligible Bunched Orders

AGENCY: Commodity Futures Trading Commission.

ACTION: Extension of comment period on proposed rulemaking.

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SUMMARY: The Commodity Futures Trading Commission has reproposed to

amend Commission Regulation 1.35(a-1) to permit eligible customer

orders to be placed on a contract market without individual customer

account identifiers either at the time of order placement or the time

of report of execution. Specifically, the proposal would exempt from

the customer account identification requirements of Regulation 1.35(a-

1)(1), (2)(i), and (4) bunched futures and/or option orders placed by

an eligible account manager on behalf of consenting eligible customer

accounts as part of its management of a portfolio also containing

instruments which are either exempt from regulation pursuant to the

Commission's regulations or excluded from regulation under the

Commodity Exchange Act. The proposed rule would permit orders entered

on behalf of these accounts to be allocated no later than the end of

the day on which the order is executed. The proposed rulemaking was in

initially published for comment on January 7, 1998 (63 FR 695) with

comments on the proposal due by March 9, 1998. In response to requests

from the Futures Industry Association, the Managed Funds Association,

the Investment Company Institute, and the New York Mercantile Exchange,

the Commission has determined to extend the comment period on this

proposal for an additional seven days. The extended deadline for

comments on this proposed rulemaking is March 16, 1998. In response to

requests from the Futures Industry Association, the Managed Funds

Association, the Investment Company Institute, and the New York

Mercantile Exchange, the Commission has determined to extend the

comment period on this proposal for an additional seven days. The

extended deadline for comments on this proposed rulemaking is March 16,

1998.

Any person interested in submitting written data, views, or

arguments on the proposals should submit such views and comments 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].

DATES: Comments must be received on or before March 16, 1998.

.FOR FURTHER INFORMATION CONTACT:

Duane C. Andresen, Special Counsel, Division of Trading and Markets,

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

Street, NW, Washington, DC 20581. Telephone: (202) 418-5490.

Issued in Washington, D.C., on this 11th day of March, 1998, by

the Commodity Futures Trading Commission.

Jean A. Webb,

Secretary on the Commission.

[FR Doc. 98-6769 Filed 3-16-98; 8:45 am]

BILLING CODE 6351-01-M