Applications of the Chicago Mercantile Exchange for Designation as a Contract Market in South Eastern, South Western and Western Oriented Strand Board Futures and Options

COMMODITY FUTURES TRADING COMMISSION

Applications of the Chicago Mercantile Exchange for Designation

as a Contract Market in South Eastern, South Western and Western

Oriented Strand Board 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 Chicago Mercantile Exchange (CME or Exchange) has applied

for designation as a contract market in South Eastern Oriented Strand

Board, South Western Oriented Strand Board and Western Oriented Strand

Board futures and options. 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.

DATE: Comments must be received on or before January 14, 2000.

ADDRESS: 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 CME Oriented Strand Board (OSB) futures

and option contracts.

FOR FURTHER INFORMATION, CONTACT: Please contact John Forkkio of the

Division of Economic Analysis, Commodity Futures Trading Commission,

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

5281. Facsimile number: (202) 418-5527. Electronic mail:

[email protected].

SUPPLEMENTARY INFORMATION: The designation applications were 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 proposals, absent any

contrary action by the Commission, may be deemed approved at the close

of business on February 7, 2000, 45 days after receipt of the

proposals. 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 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 proposed amendments 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 CME 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

Secretariat at the Commission's headquarters in accordance with 17

C.F.R. 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 CME, 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.

[[Page 73525]]

Issued in Washington, DC, on December 27, 1999.

John R. Mielke,

Acting Director.

[FR Doc. 99-33993 Filed 12-29-99; 8:45 am]

BILLING CODE 6351-01-P