80_FR_15756 80 FR 15699 - Position Limits for Derivatives and Aggregation of Positions; Correction

80 FR 15699 - Position Limits for Derivatives and Aggregation of Positions; Correction

COMMODITY FUTURES TRADING COMMISSION

Federal Register Volume 80, Issue 57 (March 25, 2015)

Page Range15699-15700
FR Document2015-06688

This is a correction to the preamble of a document published by the Commodity Futures Trading Commission (``Commission'') in the Federal Register of February 25, 2015, regarding the reopening of the comment periods for proposed rulemakings to establish speculative position limits for 28 exempt and agricultural commodity futures and options contracts and the physical commodity swaps that are economically equivalent to such contracts (the ``Position Limits Proposal'') and to amend existing regulations setting out the Commission's policy for aggregation under its position limits regime (the ``Aggregation Proposal''). This correction clarifies the closing date for the reopened comment periods, which was inadvertently set to fall on a non-business day.

Federal Register, Volume 80 Issue 57 (Wednesday, March 25, 2015) 
[Federal Register Volume 80, Number 57 (Wednesday, March 25, 2015)]
[Proposed Rules]
[Pages 15699-15700]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-06688]


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COMMODITY FUTURES TRADING COMMISSION

17 CFR Parts 1, 15, 17, 19, 32, 37, 38, 140, and 150

RIN 3038-AD99; 3038-AD82


Position Limits for Derivatives and Aggregation of Positions; 
Correction

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of proposed rulemaking; provision of Table 11a; and 
reopening of comment periods; correction.

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SUMMARY: This is a correction to the preamble of a document published 
by the Commodity Futures Trading Commission (``Commission'') in the 
Federal Register of February 25, 2015, regarding the reopening of the 
comment periods for proposed rulemakings to establish speculative 
position limits for 28 exempt and agricultural commodity futures and 
options contracts and the physical commodity swaps that are 
economically equivalent to such contracts (the ``Position Limits 
Proposal'') and to amend existing regulations setting out the 
Commission's policy for aggregation under its position limits regime 
(the ``Aggregation Proposal''). This correction clarifies the closing 
date for the reopened comment periods, which was inadvertently set to 
fall on a non-business day.

DATES: The comment periods for the Aggregation Proposal published 
November 15, 2013, at 78 FR 68946, and for the Position Limits Proposal 
published December 12, 2013, at 78 FR 75680, which reopened on February 
26, 2015, will close on March 30, 2015.

FOR FURTHER INFORMATION CONTACT: Stephen Sherrod, Senior Economist, 
Division of Market Oversight, (202) 418-5452, [email protected]; or 
Riva Spear Adriance, Senior Special Counsel, Division of Market 
Oversight, (202) 418-5494, [email protected]; Commodity Futures 
Trading Commission, Three Lafayette Centre, 1155 21st Street NW., 
Washington, DC 20581.

Correction

    In the Federal Register of February 25, 2015, in proposed rule FR 
Doc. 2015-03834, on page 10023, in the first column, correct the Dates 
caption to read:

    DATES: The comment periods for the Aggregation Proposal published 
November 15, 2013, at 78 FR 68946, and for the Position Limits Proposal 
published December 12, 2013, at 78 FR 75680, will reopen on February 
26, 2015, and will close on March 30, 2015.


[[Page 15700]]


    Dated: March 19, 2015.
Christopher J. Kirkpatrick,
Secretary of the Commission.
[FR Doc. 2015-06688 Filed 3-19-15; 04:15 pm]
 BILLING CODE 6351-01-P

Federal Register / Vol. 80, No. 57 / Wednesday, March 25, 2015 / Proposed Rules 15699 timber purchased through stewardship the haul cost that the purchaser (small COMMODITY FUTURES TRADING contracts. Specifically, SBA invites or large) will absorb to bring the timber COMMISSION comments and supporting data in to a manufacturing facility. Currently, response to the following questions. all appraisals are made to the nearest 17 CFR Parts 1, 15, 17, 19, 32, 37, 38, mill. In timber sales set aside for small 140, and 150 Stewardship Contracting Questions businesses, large mills are ineligible to RIN 3038–AD99; 3038–AD82 1. How should the FS include the saw bid. In the context of a set-aside, if the timber volume on stewardship contracts nearest mill is a large mill, the appraisal Position Limits for Derivatives and awarded to small business in the Aggregation of Positions; Correction will not accurately capture the haul cost computation of small business market to eligible bidders. As such, SBA is AGENCY: Commodity Futures Trading share? 2. How might including stewardship seeking public comment on whether the Commission. saw timber volume impact future appraisal for a small business set-aside ACTION: Notice of proposed rulemaking; market share calculations for small sale should be made to the nearest, provision of Table 11a; and reopening of business concerns that participate in small mill. comment periods; correction. stewardship contracts and/or Set-aside Sale Appraisal Point conventional timber sales? SUMMARY: This is a correction to the Questions preamble of a document published by 3. What are the potential impacts (costs and benefits) if SBA regulations at 1. How can the actual haul costs to the Commodity Futures Trading 13 CFR 121.506 were to include the saw eligible small business timber set-aside Commission (‘‘Commission’’) in the timber volume from IRTCs and IRSCs in purchasers be better reflected in the Federal Register of February 25, 2015, the calculation of small business market appraisal process? regarding the reopening of the comment share? periods for proposed rulemakings to a. What is the anticipated impact of 2. Should there be considerations for establish speculative position limits for the inclusion of saw timber volume keeping the appraisal point to the 28 exempt and agricultural commodity from stewardship contracts on stumpage nearest mill on a small business timber futures and options contracts and the prices? set-aside sale in those market areas that physical commodity swaps that are b. If inclusion of saw timber volume do not have mills that would qualify as economically equivalent to such from stewardship contracts leads to ‘‘small’’ under the SBA criteria? contracts (the ‘‘Position Limits lower stumpage prices, what is the 3. How should the prohibition against Proposal’’) and to amend existing impact to land management activities small businesses reselling more than regulations setting out the Commission’s (paid for by stumpage prices) and 30% of the saw timber volume to a large policy for aggregation under its position retained receipts? business concern be taken into account limits regime (the ‘‘Aggregation c. What is the anticipated impact on Proposal’’). This correction clarifies the when making appraisals for small sale values both from an agency closing date for the reopened comment business timber set-aside sales? perspective and a treasury perspective? periods, which was inadvertently set to 4. What would be the most efficient 4. What is the financial impact to the fall on a non-business day. and effective way to account for actual Forest Service if the 30% rule is DATES: The comment periods for the saw timber volume from stewardship included in the appraisal point haul Aggregation Proposal published contracts awarded to small business? cost calculation of a small business November 15, 2013, at 78 FR 68946, and 5. Would an increase in the utilization timber set-aside sale? for the Position Limits Proposal of stewardship contracts in a market published December 12, 2013, at 78 FR 5. What is the anticipated impact on area result in a lower representation of 75680, which reopened on February 26, trust funds (e.g., Knutson-Vandenberg), small businesses successfully bidding 2015, will close on March 30, 2015. for timber sales in that market area? if any, if appraisals are made to a small Should this lead to lowering the market mill rather than the closest processer. FOR FURTHER INFORMATION CONTACT: share for small business set-aside sales 6. SBA is also requesting data on mill Stephen Sherrod, Senior Economist, in that market area when the FS and size and location. Division of Market Oversight, (202) 418– SBA compute small business 5452, ssherrod@cftc.gov; or Riva Spear The SBA welcomes comments and Adriance, Senior Special Counsel, participation? any available data to help substantiate 6. Would including stewardship saw Division of Market Oversight, (202) 418– recommendations made in response to 5494, radriance@cftc.gov; Commodity timber volume on contracts awarded to the foregoing general questions, or other Futures Trading Commission, Three small business in the calculation result potential policy options—including Lafayette Centre, 1155 21st Street NW., in more accurate representation of small business participation in the market status quo—that should be considered Washington, DC 20581. area? for the Small Business Timber Sales Set- Correction Unrelated to stewardship contracting, Aside Program. SBA is also seeking public comments on In the Federal Register of February Dated: March 16, 2015. potential amendments to its current 25, 2015, in proposed rule FR Doc. Maria Contreras-Sweet, 2015–03834, on page 10023, in the first regulations at 13 CFR 121.507(a)(4)(i), Administrator. which provides that on a set-aside column, correct the DATES caption to mstockstill on DSK4VPTVN1PROD with PROPOSALS timber sale, the small business may not [FR Doc. 2015–06557 Filed 3–24–15; 8:45 am] read: resell more than 30% of the saw timber BILLING CODE 8025–01–P DATES: The comment periods for the volume to a large business concern. Aggregation Proposal published When the FS offers any timber sale, it November 15, 2013, at 78 FR 68946, and appraises the sale for its potential for the Position Limits Proposal market value and sets the minimum bid published December 12, 2013, at 78 FR that it will accept based on that 75680, will reopen on February 26, appraisal. One factor in the appraisal is 2015, and will close on March 30, 2015. VerDate Sep<11>2014 20:23 Mar 24, 2015 Jkt 235001 PO 00000 Frm 00003 Fmt 4702 Sfmt 4702 E:\FR\FM\25MRP1.SGM 25MRP1

15700 Federal Register / Vol. 80, No. 57 / Wednesday, March 25, 2015 / Proposed Rules Dated: March 19, 2015. SUMMARY: The Commission proposes to electronically using word processing Christopher J. Kirkpatrick, amend Rule 508 of the Commission’s software should be filed in native Secretary of the Commission. Rules of Practice and Procedure to applications or print-to-PDF format and [FR Doc. 2015–06688 Filed 3–19–15; 04:15 pm] eliminate the requirement that not in a scanned format. BILLING CODE 6351–01–P participants in Commission trial-type • Mail/Hand Delivery: Those unable evidentiary hearings must provide paper to file electronically may mail or hand- copies of all exhibits introduced as deliver comments to: Federal Energy evidence. The Proposed Rule will Regulatory Commission, Secretary of the DEPARTMENT OF ENERGY facilitate a shift toward electronic Commission, 888 First Street NE., hearing procedures which should Washington, DC 20426. Federal Energy Regulatory improve the efficiency and Instructions: For detailed instructions Commission administrative convenience of the on submitting comments and additional Commission hearing process, reduce the information on the rulemaking process, 18 CFR Part 385 burden and expense associated with see the Comment Procedures Section of paper exhibits, and facilitate the this document. [Docket No. RM15–5–000] compilation and transmittal of the FOR FURTHER INFORMATION CONTACT: hearing record to the Commission in Karin Herzfeld, Office of the General Revised Exhibit Submission electronic format. Requirements for Commission Counsel, Federal Energy Regulatory DATES: Comments are due May 26, 2015. Commission, 888 First Street NE., Hearings ADDRESSES: Comments, identified by Washington, DC 20426, Telephone: AGENCY: Federal Energy Regulatory docket number, may be filed in the (202) 502–8459. Commission, DOE. following ways: SUPPLEMENTARY INFORMATION: • Electronic Filing through http:// ACTION: Notice of proposed rulemaking. www.ferc.gov. Documents created Table of Contents Paragraph numbers I. Background .......................................................................................................................................................................................... 2. II. Discussion .......................................................................................................................................................................................... 4. III. Information Collection Statement .................................................................................................................................................... 7. IV. Environmental Analysis ................................................................................................................................................................... 8. V. Regulatory Flexibility Act ................................................................................................................................................................. 9. VI. Comment Procedures ....................................................................................................................................................................... 11. VII. Document Availability .................................................................................................................................................................... 15. 1. The Commission is proposing to agencies to provide for the optional use expanded its ability to accept amend Rule 508 of the Commission’s and acceptance of electronic documents electronically filed material, including Rules of Practice and Procedure 1 to and signatures, and electronic record- interventions, protests, rehearings, eliminate the requirement that keeping, where practical.2 Similarly, the complaints, and applications for participants in Commission trial-type Office of Management and Budget certificates and licenses.6 In 2008, the evidentiary hearings must provide paper (OMB) Circular A–130 required agencies Commission further implemented a copies of all exhibits introduced as to use electronic information collection system for electronic tariff filing.7 evidence. The Commission proposes to techniques, where such means will Consistent with these prior efforts to amend section 385.508 of the reduce the burden on the public, provide electronic filing options, the Commission’s regulations by removing increase efficiency, reduce costs, and Commission is proposing to eliminate paragraph (a)(2) and redesignating help provide better service. the requirement that all exhibits paragraph (a)(3) as paragraph (a)(2). 3. On September 21, 2000, the introduced at Commission hearings While still retaining the option to Commission issued Order No. 619, must be provided in paper form. provide exhibits in paper form, the which implemented the use of the Internet for submission of certain II. Discussion proposed rule will facilitate a shift toward electronic hearing procedures documents to the Commission for 4. Section 385.508 of the which should improve the efficiency filing.3 The eFiling system plays an Commission’s regulations currently and administrative convenience of the important role in the Commission’s requires that ‘‘[a]ny participant who Commission hearing process, reduce the efforts to comply with the Government seeks to have an exhibit admitted into burden and expense associated with Paperwork Elimination Act’s evidence must provide one copy of the paper exhibits, and facilitate the requirement that agencies provide the compilation and transmittal of the option to submit information 6 See Electronic Registration, Order No. 891, 67 FR 52,406 (Aug. 12, 2002), FERC Stats. & Regs. hearing record to the Commission in electronically, when practicable, as a ¶ 31,132 (2002); Electronic Filing of FERC Form 1, electronic format. substitute for paper.4 Filing via the and Elimination of Certain Designated Schedules in Internet is optional for eligible mstockstill on DSK4VPTVN1PROD with PROPOSALS Form Nos. 1 and 1F, Order No. 626, 67 FR 36,093 I. Background documents.5 Since issuing Order No. (May 23, 2002), FERC Stats. & Regs. ¶ 31,130 (2002); Electronic Service of Documents, 66 FR 50,591 (Oct. 2. The Federal government has set a 619, the Commission has greatly 4, 2001), FERC Stats. & Regs. ¶ 35,539 (2001); goal to substitute electronic means of Revised Public Utility Filing Requirements, Order 2 44U.S.C. 3504. communication and information storage 3 Electronic No. 2001, 67 FR 31,043 (May 8, 2002), FERC Stats. Filing of Documents, Order No. 619, & Regs. ¶ 31,127 (2002); Filing Via the Internet, for paper. For example, the Government 65 FR 57088 (Sept. 21, 2000), FERC Stats. & Regs. Order No. 703, 72 FR 65,659 (Nov. 23, 2007), FERC Paperwork Elimination Act directed ¶31,107 (2000). Stats. & Regs. ¶ 31,259 (2007). 4 44 U.S.C. 3504. 7 Electronic Tariff Filings, Order No. 714, FERC 1 18 CFR 385.508. 5 18 CFR 385.2001(a). Stats. & Regs. ¶ 31,276 (2008). VerDate Sep<11>2014 20:23 Mar 24, 2015 Jkt 235001 PO 00000 Frm 00004 Fmt 4702 Sfmt 4702 E:\FR\FM\25MRP1.SGM 25MRP1


Document Created: 2018-02-21 09:49:08
Document Modified: 2018-02-21 09:49:08
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionProposed Rules
ActionNotice of proposed rulemaking; provision of Table 11a; and reopening of comment periods; correction.
DatesThe comment periods for the Aggregation Proposal published November 15, 2013, at 78 FR 68946, and for the Position Limits Proposal published December 12, 2013, at 78 FR 75680, which reopened on February 26, 2015, will close on March 30, 2015.
ContactStephen Sherrod, Senior Economist, Division of Market Oversight, (202) 418-5452, [email protected]; or Riva Spear Adriance, Senior Special Counsel, Division of Market Oversight, (202) 418-5494, [email protected]; Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW., Washington, DC 20581.
FR Citation80 FR 15699 
RIN Number3038-AD99 and 3038-AD82
CFR Citation17 CFR 1
17 CFR 140
17 CFR 15
17 CFR 150
17 CFR 17
17 CFR 19
17 CFR 32
17 CFR 37
17 CFR 38
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