March Wheat Futures Trading on Chicago Board of Trade: Hearing Before the Subcommittee on Conservation and Credit of the Committee on Agriculture, House of Representatives, Ninety-sixth Congress, First Session, March 28, 1979
U.S. Government Printing Office, 1979 - Electronic books - 199 pages
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action activity additional appear assurances authority believe Board of Trade bushels cash CBOT cents CFTC Chairman Chicago Board close Commission's Committee Commodity Futures Trading concerned continue corner court December delivery Directors discussed Division effect emergency enforcement evidence Exchange exists fact factors February four Friday further futures market futures price Futures Trading Commission Goldberg hearing indicated issue Jones of Tennessee judge letter liquidation look Madigan major manipulation March 15 March 1979 Wheat March future March wheat March wheat futures matter meeting monitor month open interest orderly percent positions present problem question reason record Regulation remaining reported responsibility rule Seevers short situation specific speculators spread staff subcommittee supply surveillance Thank things Toledo understand violations voted wheat contract wheat futures contract Wilmouth
Page 26 - Secretary, we will go vote and then return as promptly as possible. [Recess taken.] Mr. JONES of Tennessee. The subcommittee will resume its sitting.
Page 122 - ... (9) to direct the contract market whenever it has reason to believe that an emergency exists, to take such action as, in the Commission's judgment, is necessary to maintain or restore orderly trading in, or liquidation of, any futures contract.
Page 42 - When we come back, the chairman is going to take his 5 minutes. [Recess taken.] Mr. JONES of Tennessee. The subcommittee will resume its sitting.
Page 79 - ... shall be sufficient if the registrant gives notice to the Director of the Division of Trading and Markets or the Director's designee by telephone and confirms such notice in writing by certified or registered mail or equivalent means to the Commission at its Washington, DC office (Attn: Chief Counsel, Division of Trading and Markets, Commodity Futures Trading Commission, 2033 K Street, NW, Washington, DC 20581). (b) Unlawful to act as an associated person. Upon the earlier of notification to...
Page 122 - emergency" as used herein shall mean, in addition to threatened or actual market manipulations and corners, any act of the United States or a foreign government affecting a commodity or any other major market disturbance which prevents the market from accurately reflecting the forces of supply and demand for such commodity: Provided.
Page 56 - ... affected or aggrieved by action taken by the Commission under paragraph (f) shall have the opportunity for a prompt hearing after the Commission acts. That person may immediately present in writing to the Commission for its consideration any comments or arguments concerning the Commission's action and may present for Commission consideration any documentary or other evidence that person deems appropriate. Upon request, the Commission may, in its discretion, determine that an oral hearing be conducted...
Page 40 - Burrow engaged in conduct inconsistent with just and equitable principles of trade. in that Mr.
Page 75 - These corrections are not made in the data stored in the conputer; they are placed on microfilm and maintained at the Clearing Corp. This means that the Trade Data Tape does not necessarily contain accurate information, and therefore the specialized runs derived from it are not necessarily accurate. Furthermore, it indicates that the CBOT does not have a single record which contains accurate trade data that is maintained in computer readable form, as required by Commission regulation l.3S(e).