Regulation and Trading of Leverage Contracts and Dealer Options: Hearing Before the Subcommittee on Conservation, Credit, and Rural Development of the Committee on Agriculture, House of Representatives, Ninety-ninth Congress, First Session, March 20, 1985 |
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account equity Agreement amendments Ask Price Bid Price bid-ask spread break-even CARABINI carrying charges cash CFTC CFTC's Chairman Chicago Mercantile Exchange coins COLEMAN Commission's Committee Commodity Exchange Act Commodity Futures Trading Congress contract price DASCHLE dealer options delivery pack Disclosure Statement economic EVANS of Iowa exchange-traded FCM's future delivery futures commission merchants futures contracts futures exchanges futures industry futures markets Futures Trading Commission GLICKMAN gold handling fee hearing instruments interest investment investors IPMC IPMC's issue JONES of Tennessee KAHRNOFF leverage account leverage business leverage commodity leverage contracts leverage customer leverage dealer leverage firms leverage industry leverage merchants leverage transaction merchant Margin Call MARTELL Mocatta Monex moratoria moratorium NASAA National Futures Association off-exchange futures offer percent PHILLIPS proposed purchase registration risk Rulemaking Comments rules sales practices sell short leverage silver bullion subcommittee take delivery Thank tion troy ounces
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Page 225 - It shall be unlawful for any person to offer to enter into, enter into, or confirm the execution of, any transaction involving any commodity, which is or may be used for (1) hedging any transaction in interstate commerce in such commodity or the products or byproducts thereof, or (2) determining the price basis of any such transaction in interstate commerce in such commodity, or (3) delivering any...
Page 37 - I will be happy to answer any questions which you or the other members of the subcommittee may have. Thank you. [The prepared statement of Mr.
Page 225 - Commission entered pursuant to subsection (2) shall govern the exchange in its further treatment of the matter. "(4) The Commission, in its discretion, may order a stay of any action taken pursuant to subsection ( 1 ) pending review thereof." SEC. 217. (a) No person shall offer to enter into, enter into, or confirm the execution of any transaction for the delivery of silver bullion, gold bullion, or bulk silver coins or bulk gold coins, pursuant to a standardized contract commonly known to the trade...
Page 226 - Act, as amended, such transaction shall be regulated in accordance with the provisions of such Act. (b) The provisions of section 9(c) of the Commodity Exchange Act, as amended, shall be applicable with respect to persons who violate the provisions of this section. Id. 154/ HR Rep. No. 1383, supra note 97, at 39. 155/ Extend Commodity Exchange Act: Hearings on HR 10285 Before the Subcomm. on Conservation and Credit of the House Comm. on Agriculture, 95th Cong. , 2d Sess. 69-71 (1978). 156/ See generally...
Page 128 - PREVIOUSLY SOLD BY A LEVERAGE CUSTOMER AT ANY TIME DURING WHICH THE LEVERAGE TRANSACTION MERCHANT IS OFFERING TO ENTER INTO NEW LONG OR SHORT LEVERAGE CONTRACTS WITH CUSTOMERS INVOLVING THE SAME LEVERAGE COMMODITY. AS NOTED ABOVE, HOWEVER. A LEVERAGE TRANSACTION MERCHANT HAS COMPLETE DISCRETION IN SETTING THE PRICE AND ANY CHARGES RELATED THERETO. THE COMMODITY FUTURES TRADING COMMISSION HAS NOT PASSED UPON THE MERITS OF THESE LEVERAGE CONTRACTS AS AN INVESTMENT VEHICLE NOR UPON THE ACCURACY OR ADEQUACY...
Page 263 - Thank you, Mr. Chairman and members of the subcommittee. It is a pleasure for me to be here today to present the views of the administration on a legislative proposal to establish a National Commission on Multiple Sclerosis.
Page 53 - Idaho be authorized and he is hereby directed to immediately forward certified copies of this memorial to the speaker of the house and to the president of the senate...
Page 261 - Market" before the Subcommittee on Agricultural Research and General Legislation, Senate Committee on Agriculture, Nutrition, and Forestry, May 1, 1980.
Page 78 - A member, in the conduct of his business, shall observe high standards of commercial honor and just and equitable principles of trade.
Page 226 - Commission designed to insure the financial solvency of the transaction or prevent manipulation or fraud : Provided, That such rule, regulation, or order may be made only after notice and opportunity for hearing. If the Commission determines that any such transaction is a contract for future delivery within the meaning of the Commodity Exchange Act, as amended, such transaction shall be regulated in accordance with the provisions of such Act. < (b) The provisions of section 9(c) of the Commodity...