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COMMODITY FUTURES TRADING COMMISSION

Commodity Futures Trading Commission

CFR Citation: 17 CFR Parts 1 and 38

NOTICE: PROPOSED RULES

ACTION: Execution of Transactions:

DOCUMENT ACTION: Extension of comment period.

SUBJECT CATEGORY: Execution of Transactions: Regulation 1.38 and Guidance on Core Principle 9

DATES: Comments must be received by January 5, 2009.

DOCUMENT SUMMARY: On September 18, 2008, the Commission published in the Federal Register a notice of proposed rulemaking to amend its rules, guidance and acceptable practices concerning trading off the centralized market, including the addition of guidance on contract market block trading rules and exchanges of futures for commodities or derivatives positions. Comments on the proposal originally were due on November 17, 2008. The Commission is extending the comment period in order to give interested persons additional time to comment on the proposed amendments.

SUMMARY: Regulation 1.38 and Guidance on Core Principle 9; Extension of Comment Period,

SUPPLEMENTAL INFORMATION

On September 18, 2008, the Commission published in the Federal Register a notice of proposed rulemaking to amend its rules, guidance and acceptable practices concerning trading off the centralized market, including the addition of guidance on contract market block trading rules and exchanges of futures for commodities or derivatives positions.

The comment period closes on November 17, 2008. By letter dated November 4, 2008, CME Group, Inc., requested an extension of the comment period until January 5, 2009. In order to encourage the submission of meaningful comments and to assure that all views are considered in its final determination, the Commission has determined to grant the request and to give full consideration to any comment received during the extension period. While the Commission has received some comment letters on the proposal, none yet have been from any designated contract markets, which have the responsibility of complying with Regulation 1.38 and Core Principle 9. Accordingly, the comment period for the Commission's proposed amendments to Regulation 1.38 and Part 38 is hereby extended to January 5, 2008.

Issued in Washington, DC, on November 10, 2008, by the Commission.
Sauntia S. Warfield,
Staff Assistant.
[FR Doc. E827121 Filed 111308; 8:45 am]
BILLING CODE 635101P

FOR FURTHER INFORMATION CONTACT Gabrielle A. Sudik, Special Counsel, Division of Market Oversight; Telephone 2024185171; email: gsudik@cftc.gov; Commodity Futures Trading Commission, Three Lafayette Center, 1155 21st Street, NW., Washington, DC 20581.