Coalition Letter Asks President to Welcome Japan into TPP

The food and agricultural organizations and companies that signed onto this letter strongly support the entry of Japan into the Trans-Pacific Partnership (TPP) negotiations and urge the United States and the other members of the TPP to welcome Japan as a full member as quickly as possible.

Click here to read the submitted letter.

CMC Signs onto Coalition Comment Letter

CMC signed on to this comment letter, along with other allied trade associations. This is a letter to the CFTC requesting exemptive relief from clearing and trading requirements for centralized treasury affiliates of non-financial end users.

CME Group Acquires Kansas City Board of Trade

From CME Group:

To Our Valued Customers:

A few weeks ago we told you about CME Group’s plans to acquire the Kansas City Board of Trade (KCBT). We are pleased to announce that the acquisition has been completed, and we will be able to offer you greater capital efficiencies, new trading opportunities and additional products over the coming months.

Today, you can already trade both KCBT’s flagship Hard Red Winter (HRW) wheat futures, the international benchmark for bread wheat prices, and the CBOT Soft Red Winter (SRW) wheat contract, the most liquid wheat futures contract and the benchmark for soft wheat, on CME Group’s Globex electronic trading platform and through open outcry. Combined with CBOT’s nascent Black Sea Wheat contract, this makes CME Group a comprehensive marketplace for the global wheat trader.

As an initial benefit, beginning Monday, December 10, 2012 you will be able to take advantage of implied functionality on CME Globex to trade the KCBT-CBOT Wheat futures spread. This will allow you to capitalize on the price differentials inherent in the two classes of wheat by executing this popular spread as a single trade, rather than by legging into each individual contract. This is just the beginning of the new products and enhancements we plan to provide.

We appreciate your business and look forward to continuing to work with you to provide solutions to your risk management and trading needs.

For more information about this announcement please view our press release.

Sincerely,

Tim Andriesen
Managing Director, Agricultural Products
CME Group

Special Report – RJO Summary of USDA Data Users Meeting

CMC Board member Rich Feltes of RJ O’Brien attended the USDA Data Users meeting on October 22.  Here he shares his summary notes with CMC.  

CMC in the News

CMC Final Letter Submissions

CMC asked the CFTC to postpone an Oct. 12 start date for tallying swaps trades towards the key “dealer” threshold, asking for more clarity on the rules and time to build up compliance regimes.  To read the letter, click here.

CMC, American Petroleum Institute, Edison Electric Institute, Electric Power Supply Association, Independent Petroleum Association of America and the Natural Gas Supply Association submitted coalition comments on September 20th Notional Amount Calculation Methodology.  To read the letter, click here.

Coalition for Derivatives End-Users comment letter on an Extended Comment Period for “Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants”.  To read the letter, click here.

CMC in the News

USDA sets new release time for big agricultural reports – Reuters

  • It was backed by CME Group Inc, the operator of the giant Chicago futures exchanges, the trade group Commodity Markets Council, and an array of major US

USDA to Change Crop Report Release Time to Noon EDT in 2013 – Fox Business

  • Some large industry groups, including CME, the Commodity Markets Council and grain-industry associations, requested the agency move the report times to 11

Swap dealing non-banks to CFTC: Give us more time – Reuters

  • The Commodity Markets Council asked the regulator to postpone an Oct. 12 start date for tallying swaps trades towards the key “dealer” threshold,

Agricultural and Energy Firms Press CFTC for Swap Dealer Delay – Bloomberg

  • A Washington-based lobbying group representing agricultural and energy firms is pressing the U.S. Commodity Futures Trading Commission to…

Coalition for Derivatives End-Users News Release

FOR IMMEDIATE RELEASE

August 1, 2012

 

Business Group Praises Bipartisan Introduction of Bill Preventing Costly and Unnecessary Regulation of Main Street Risk Management

Washington – The Coalition for Derivatives End-Users today issued the following statement on the introduction of legislation by Senators Mike Johanns (R-NE), Mike Crapo (R-ID), Jon Tester (D-MT), Herb Kohl (D-WI), Pat Toomey (R-PA) and Kay Hagan (D-NC) to exempt non-financial end-user companies from margin requirements applied to their derivatives trades:

“The bill introduced today by Sens. Johanns, Crapo, Toomey, Tester, Kohl and Hagan helps main street businesses invest more funds in expanding their operations and creating jobs by freeing them from the costly and needless requirements that are threatened by Dodd-Frank Act margin regulations.   The bill is about protecting companies that use derivatives to manage risk, not create it.  The Coalition for Derivatives End-Users, and the hundreds of businesses it represents, applauds this bipartisan legislation and looks forward to Senate action that mirrors its overwhelming passage in the House earlier this year,” said Michael Bopp, Counsel to the Coalition for Derivatives End-Users.

The Coalition for Derivatives End-Users includes the following major U.S. business associations:

  • Agricultural Retailers Association
  • Business Roundtable
  • Commodity Markets Council
  • Financial Executives International
  • National Association of Corporate Treasurers
  • National Association of Manufacturers
  • The Real Estate Roundtable

CFTC Staff to Host a Public Roundtable to Discuss Additional Customer Protections

CFTC Staff to Host a Public Roundtable to Discuss Additional Customer Protections

Commodity Futures Trading Commission (CFTC) today announced that staff will hold a public roundtable on Thursday, August 9, 2012, from 9:30 a.m. to 5:00 p.m., to discuss customer protection requirements for futures commission merchants (FCMs). The objective of the roundtable is to gather public input on a variety of ideas to further protect customers.

Specifically, the discussion will focus on Self-Regulatory Organization (SRO) requirements for examinations of FCMs and CFTC oversight of SRO examination programs, the role of the independent CPA in the examination process, and protection requirements for FCMs, including proposals from the CFTC’s staff and various proposed alternatives to the current system for segregating customer funds….”