Friday, July 20, 2018
 Amendments to Spot Call Butter Contract  

 
Effective Sunday, January 31, 2016 for trade date Monday, February 1, 2016, CME Group will amend the Spot Butter Call contract.

 

In addition to the USDA grading certificate, a Certificate of Analysis (COA) will also be an acceptable document for deliverable loads of butter in the spot market. By making this change, it will allow more eligible loads of butter to be transacted in the spot market.


Butter sold with a COA will continue to meet the grading standards of a USDA Grade AA certificate. The rules will continue to allow buyers to call for an inspection of the butter via a USDA grader or independent laboratory to certify that the butter is Grade AA, or that it meets the specifications on the COA.

Click here to view complete SER-7552

 

 


http://www.cmegroup.com/tools-information/lookups/advisories/ser/SER-7552.html?mkt_tok=3RkMMJWWfF9wsRonvaTIcO%2FhmjTEU5z17OQpWqO3hIkz2EFye%2BLIHETpodcMT8NgNbjYDBceEJhqyQJxPr3GLdkN0sV8RhjhCw%3D%3D#pageNumber=1


Posted on Thursday, January 21, 2016 (Archive on Thursday, January 28, 2016)
Posted by bholcomb@adpi.org  Contributed by bholcomb@adpi.org
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