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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Common terms and phrases
account equity Agreement amendments Ask Price bid-ask spread break-even CARABINI carrying charges cash CFTC CFTC's Chairman coins COLEMAN Commission's Committee Commodity Exchange Act Commodity Futures Trading CONGRESS THE LIBRARY 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 LIBRARY OF CONGRESS Margin Call MARTELL Mocatta Monex moratoria moratorium National Futures Association off-exchange futures offer percent PHILLIPS proposed purchase registration Rulemaking Comments rules sales practices sell short leverage silver bullion subcommittee take delivery Thank tion troy ounces U.S. Postal Service
Popular passages
Page 227 - 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 227 - 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 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 230 - ... and notifies the Senate Committee on Agriculture and Forestry and the House Committee on Agriculture that it is unable to prescribe such terms and conditions within such period of time : Provided, That any such order, rule, or regulation may be made only after notice and opportunity for hearing : And provided further, That the Commission may set different terms and conditions for different markets.
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 265 - 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 259 - Market" before the Subcommittee on Agricultural Research and General Legislation, Senate Committee on Agriculture, Nutrition, and Forestry, May 1, 1980.
Page 68 - A member, in the conduct of his business, shall observe high standards of commercial honor and just and equitable principles of trade.
Page 237 - Involving any commodity that is of the character of or which is commonly known to the trade as an option, privilege, indemnity, bid, offer, put, call, advance guaranty, or decline guaranty; or (ili) For the delivery of any commodity under a standardized contract commonly known to the trade as a margin account, margin contract, leverage account, or leverage contract, or under any contract, account, arrangement, scheme, or device that the Commission determines serves the same function or functions...