Applications of the Commodity Exchange. Inc. Division of the New York Mercantile Exchange for Designation as a Contract Market in FTSE Eurotop 300 Stock Index Futures and Options

COMMODITY FUTURES TRADING COMMISSION

Applications of the Commodity Exchange. Inc. Division of the New

York Mercantile Exchange for Designation as a Contract Market in FTSE

Eurotop 300 Stock Index Futures and Options

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of terms and conditions of proposed

commodity futures and options contracts.

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SUMMARY: The Commodity Exchange, Inc. Division of the New York

Mercantile Exchange (COMEX or Exchange) has applied for designation as

a contract market in FTSE Eurotop 300 stock index futures and options.

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 purposes of the Commodity Exchange Act.

DATES: Comments must be received on or before August 27, 1999.

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 COMEX FTSE Eurotop 300 stock index

futures and option contracts.

FOR FURTHER INFORMATION CONTACT: Please contact Thomas Leahy of the

Division of Economic Analysis, Commodity Futures Trading Commission,

Three Lafayette Centre, 1155 21st Street NW, Washington, DC (202) 418-

5278. Facsimile number: (202) 418-5527. Electronic mail:

[email protected].

SUPPLEMENTARY INFORMATION: The Exchange requested an abbreviated public

comment period of 15 days citing the similarities between the proposed

contract and the Exchange's existing FTSE Eurotop 100 futures and

option contracts. In approving the existing Eurotop 100 contracts, the

Commission determined that those contracts satisfied the requirements

of the Accord. In view of the contract's similarities, the fact that

the same entity (FTSE) owns and maintains the Eurotop 100 and the

Eurotop 300 indexes, and because all the stocks comprising the Eurotop

100 are included in the Eurotop 300, the Division believes that the

abbreviated 15-day comment period requested by the Exchange is

appropriate.

Copies of the 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 of the terms and conditions can be obtained through the Office

of the Secretariat by mail at the above address or by phone at (202)

418-5100.

Other materials submitted by the COMEX in support of the

applications for contract market designation 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 the Secretariat at the Commission's

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headquarters in accordance with 17 CFR 145.7 and 145.8.

Any person interested in submitting written data, views, or

arguments on the proposed terms and conditions, or with respect to

other materials submitted by the COMEX, 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 August 9, 1999.

John Mielke,

Acting Director.

[FR Doc. 99-20854 Filed 8-11-99; 8:45 am]

BILLING CODE 6351-01-M