Application of Cantor Financial Futures Exchange, Inc., as a Contract Market in US Treasury Bond, Ten-Year Note, Five-Year Note, and Two-Year Note Futures Contracts

COMMODITY FUTURES TRADING COMMISSION

Application of Cantor Financial Futures Exchange, Inc., as a

Contract Market in US Treasury Bond, Ten-Year Note, Five-Year Note, and

Two-Year Note Futures Contracts

AGENCY: Commodity Futures Trading Commission.

ACTION: Extension of comment period on notice of application of Cantor

Financial Futures Exchange, Inc., for initial designation as a contract

market.

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DATES: Comments must be received on or before April 27, 1998.

FOR FURTHER INFORMATION CONTACT: With respect to questions about the

terms and conditions of the proposed futures contracts, please contact

Thomas M. Leahy of the Division of Economic Analysis, Commodity Futures

Trading Commission, at Three Lafayette Centre, 21st Street NW,

Washington, DC 20581; Telephone: (202) 418-5278; Facsimile number:

(202) 418-5527; or Electronic mail: [email protected]. With respect to

questions about the trading rules and rules of government, please

contact Adam E. Wernow, Division of Trading and Markets, at the same

address; Telephone: (202) 418-5042; Facsimile number: (202) 418-5536;

or Electronic mail: [email protected].

SUPPLEMENTARY INFORMATION: Cantor Financial Futures Exchange, Inc.

(``CFFE'') has applied for designation as a contract market for the

computer-based trading of US Treasury bond, ten-year note, five-year

note, and two-year note futures contracts. CFFE has not previously been

approved by the Commission as a contract market in any commodity, thus,

in addition to the terms and conditions of the proposed futures and

options contracts, CFFE has also submitted proposed trading rules,

rules of government, and other materials to meet the requirements for a

board of trade seeking initial designation as a contract market. Notice

of CFFE's application was initially published under delegated authority

for public comment on February 3, 1998 (63 FR 5505), for a 60-day

comment period ending April 6, 1998. Acting pursuant to the authority

delegated by Commission Regulation 140.96, the Division of Trading and

Markets and the Division of Economic Analysis (``Division'') have

determined to extend until April 27, 1998 the deadline for comments on

the notice of application of CFFE to be designated as first-time

contract market. The Divisions believe that extension of the deadline

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. The Divisions seek comment

regarding all aspects of CFFE's application and addressing any issues

commenters believe the Commission should consider. Any request for a

further extension of the public comment period will be looked upon with

disfavor.

Any person interested in submitting written data, views, or

arguments on the proposal to designate CFFE should submit their views

and comments by the specified date 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 to the

CFFE application for designation as a computer-based contract market

for US Treasury bond, ten-year note, five-year note, and two-year note

futures contracts. Copies of the proposed terms and conditions,

Exchange rules, compliance procedures, clearing and settlement

description, and other related materials 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 telephoning (202) 418-5100. Some materials may be subject to

confidential treatment pursuant to 17 CFR 145.5 or 145.9. Requests or

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 headquarters in accordance with 17 CFR 145.7 and 145.8.

Issued in Washington, D.C., on April 6, 1998.

Steven Manaster,

Director, Division of Economic Analysis.

[FR Doc. 98-9480 Filed 4-9-98; 8:45 am]

BILLING CODE 6351-01-M