Applications of the Chicago Board of Trade for Designation as a Contract Market in TVA Hub Electricity Futures and Options and ComEd Hub Electricity Futures and Options, Submitted Under 45-Day Fast Track Procedures

COMMODITY FUTURES TRADING COMMISSION

Applications of the Chicago Board of Trade for Designation as a

Contract Market in TVA Hub Electricity Futures and Options and ComEd

Hub Electricity Futures and Options, Submitted Under 45-Day Fast Track

Procedures

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of proposed terms and conditions for

applications for contract market designation.

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SUMMARY: The Chicago Board of Trade (CBT or Exchange) has applied for

designation as a contract market in TVA (Tennessee Valley Authority)

Hub electricity futures and option contracts and ComEd (Commonwealth

Edison) Hub electricity futures and option. The proposals were

submitted under the Commission's 45-day Fast Track procedures. 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

purpose of the Commodity Exchange Act.

DATES: Comments must be received on or before April 17, 1998.

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. In

addition, comments may be sent by facsimile transmission to facsimile

number (202) 418-5521, or by electronic mail to [email protected].

Reference should be made CBT TVA Hub electricity futures and option

contracts and ComEd Hub futures and options contracts.

FOR FURTHER INFORMATION CONTACT:

Please contact Joseph Storer of the Division of Economic Analysis,

Commodity Futures Trading Commission, Three Lafayette Centre, 21st

Street NW, Washington, DC 20581, telephone (202) 418-5282. Facsimile

number: (202) 418-5527. Electronic mail: [email protected].

SUPPLEMENTARY INFORMATION: The proposed designation applications were

submitted pursuant to the Commission's Fast Track procedures for

streamlining the review of futures contract rule

[[Page 16251]]

amendments and new contract approvals (62 FR 10434). Under those

procedures, the proposals, absent any contrary action by the

Commission, may be deemed approved at the close of business on May 8,

1998, 45 days after receipt of the proposals. In view of the limited

review period provided under the Fast Track procedures, the Commission

has determined to publish for public comment notice of the availability

of the terms and conditions for 15 days, rather than 30 days as

provided for proposals submitted under the regular review procedures.

Copies of the proposed terms and conditions will be available for

inspection at the Office of the Secretariat, Commodity Futures Trading

Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC

20581. Copies 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 CBT in support of the proposals

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 (1997)), 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 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 proposals, or with respect to other materials

submitted by the CBT, should send such comments to Jean A. Webb,

Secretary, Commodity Futures Trading Commission, Three Lafayette

Centre, 1155 21st Street NW, Washington, DC 20581 by the specified

date.

Issued in Washington, DC, on March 27, 1998.

John R. Mielke,

Acting Director.

[FR Doc. 98-8593 Filed 4-1-98; 8:45 am]

BILLING CODE 6351-01-M