CFTC seeks public comment on request involving OTC calendar swaps for wheat

The CFTC is requesting public comment on a petition submitted jointly by the Kansas City Board of Trade and the Kansas City Board of Trade Clearing Corporation in connection with certain OTC contracts to be listed for clearing-only on KCBT and cleared through KCBTCC. KCBT and KCBTCC are requesting that the CFTC issue an order under Section 4(c) of the Commodity Exchange Act (CEA) that would permit qualified participants who enter into wheat calendar swaps to submit those contracts to KCBTCC for clearing. KCBT and KCBTCC also are requesting that the Commission issue an order under Section 4d of the CEA that would permit KCBTCC and KCBTCC futures commission merchants to commingle customer funds used to margin, secure or guarantee these contracts with other funds held in segregated accounts.

About The Author

Felix Shipkevich

Felix Shipkevich is a Manhattan-based attorney and general counsel for Shipkevich Law Firm. He has extensive experience working with the CFTC and NFA on registration, compliance, and enforcement issues for CPOs, CTAs, FCMs, IBs, and RFEDs. Felix also practices intellectual property and corporate governance law.