New York Mercantile Exchange: Proposed Amendments to the New York Harbor Unleaded Regular Gasoline Futures Contract Relating to Grade and Quality Specifications

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The New York Mercantile Exchange (NYMEX or Exchange) has submitted for Commission's approval, under section 5a(a)(12) of the Commodity Exchange Act and Commission Regulation 1.41(b), proposed amendments to its New York Harbor unleaded regular gasoline (gasoline) futures contract. The proposed amendments revise the grade and quality specifications for deliverable gasoline to reflect recently adopted EPA requirements for reformulated gasoline. The amendments would apply only to newly listed contracts beginning with the December 1994 and January and February 1995 delivery months. In accordance with section 5a(a)(12) of the Commodity Exchange Act and acting pursuant to the authority delegate by Commission Regulation 140.96, the Acting Director of the Division of Economic Analysis (Division) of the Commodity Futures Trading Commission (Commission) has determined, on behalf of the Commission, that the proposed amendments are of major economic significance. On behalf of the Commission, the Division is requesting comment on these proposals.