Application of the KCBT for Designation as a Contract Market in Western Natural Gas Index Futures Contracts

COMMODITY FUTURES TRADING COMMISSION

Application of the KCBT for Designation as a Contract Market in

Western Natural Gas Index Futures Contracts

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of the terms and conditions of proposed

commodity futures contract.

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SUMMARY: The Kansas City Board of Trade (KCBT or Exchange) has applied

for designation as a contract market in western natural gas index

futures contracts. The proposal was 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 proposal 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 May 21, 1999.

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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 to the KCBT western natural gas index futures

contract.

FOR FURTHER INFORMATION CONTACT: Please contact Joseph Storer of the

Division of Economic Analysis, Commodity Futures Trading Commission,

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

telephone (202) 418-5282. Facsimile number: (202) 418-5527. Electronic

mail: [email protected]

SUPPLEMENTARY INFORMATION: The proposed designation application was

submitted pursuant to the Commission's Fast Track procedures for

streamlining the review of futures contract rule amendments and new

contract approvals (62 FR 10434). Under those procedures, the proposal,

absent any contrary action by the Commission, may be deemed approved at

the close of business on June 7, 1999, 45 days after receipt of the

proposal. In view of the limited review period 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 contract terms 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 New &

Pending''.

Other materials submitted by the KCBT in support of the proposal

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 proposal, or with respect to other materials submitted

by the KCBT, should send such comments to Jean A. Webb, Secretary,

Commodity Futures Trading Commission, Three Lafayette Centre, 21st

Street NW, Washington, DC 20581 by the specified date.

Issued in Washington, DC, on April 28, 1999.

John R. Mielke,

Acting Director.

[FR Doc. 99-11322 Filed 5-5-99; 8:45 am]

BILLING CODE 6351-01-M