About the CFTC
CFTC Organization Chart (PDF)
Agricultural Advisory Committee
Meeting of the CFTCs Agricultural Advisory Committee
Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581
July 29, 2008
I. |
Introduction |
9:00 - 9:15 a.m. |
II. |
Convergence and Basis |
9:15 10:45 a.m. |
History and Current Fundamentals of Convergence and Basis Problems | ||
David Kass, Division of Market Oversight, CFTC Tom Buis, National Farmers Union Terry Reinhart, Advance Trading Tom Coyle, National Grain and Feed Association Roger Cryan, National Milk Producers Federation | ||
Exchange Presentations | ||
David Lehman and Julie Winkler, CME Group Mark G. Bagan, Minneapolis Grain Exchange | ||
| ||
Break |
10:55 - 11:15 a.m. | |
III. |
Settlement Prices, Margin Requirements, and Credit |
11:15 12:45 p.m. |
Settlement Prices in Times of High Volatility | ||
Tom Farley, ICE Futures U.S. | ||
Jeff Borchardt, Kansas City Board of Trade | ||
Margin Credit Swaps | ||
Steve Hurst, Merchants Exchange | ||
Role of Exchanges and Clearinghouse in Setting Margin Requirements | ||
Dan Brophy, Commodity Markets Council | ||
Issues with Margin Credit | ||
Phil DiPofi, Co-Bank Sam Miller, American Bankers Association | ||
Open Discussion | ||
Lunch |
12:45 - 1:45 p.m. | |
IV. |
Agricultural Swaps |
1:45 2:45 p.m. |
History and Current Policy on Agricultural Swaps | Agricultural Trade Options | ||
Don Heitman, Division of Market Oversight, CFTC | ||
Benefits of Clearing Agricultural Swaps | ||
Tom Farley, ICE Futures U.S. David Lehman and Julie Winkler, CME Group | ||
Open Discussion | ||
V. |
Ongoing Research |
2:45 - 3:45 p.m. |
Policy Issues with Identifying and Managing Commodity Bubbles | ||
Eric Juzenas, Office of Commissioner Dunn, CFTC | ||
Summary of Ongoing Interagency and CFTC Research | ||
Jeff Harris, Office of Chief Economist, CFTC | ||
Experiences with Particular Markets | ||
Julie Winkler, CME Group | ||