WASHINGTON - President Clinton has proposed a 10-cent transaction fee on commodity futures and options contracts traded on futures exchanges to cover the cost of the Commodity Future Trading Commission's operations.

The fee is part of the funding mechanism Mr. Clinton proposed for the CFTC, which he asked to be funded with a $59.7 million budget for fiscal year 1996, up from fiscal year 1995 appropriations of $49.1 million.

Passage of the fee legislation would allow the commission, the nation's principal exchange-traded derivatives marketplace regulator, to overcome past budget restraints without harming the competitive position of U.S. futures exchanges, the President said.

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