Family Farmer & Rancher Fund Applications Due
September 24, 2012
Following the insolvency of PFGBest, CME Group has been accepting applications from farmers, ranchers and agricultural co-operatives to register for benefits under the CME Group Family Farmer & Rancher Protection Fund.
In order for CME to begin paying benefits to qualifying customers under this Fund, Applications must be received by the close of business at 5:00pm Central Time, Friday, October 5, 2012. Following the October 5 deadline, CME Group expects to pay benefits to qualifying customers in the fourth quarter of this year. The following requirements apply to be considered for benefits:
- The applicant must be a farmer, rancher or agricultural coop and must complete the application for the registration available on CME Group's website.
- The applicant must submit photocopies of appropriate tax documentation along with the application, as described in the application's instructions.
- The applicant must have held one or more positions in CME Group agricultural products covered by the program during the six months between January 9 and July 6, 2012, and must submit a copy of a PFGBest statement showing the qualifying position(s).
Members or customers may submit any questions to CME Group at [email protected]. The application and other information about the program can be found at http://www.cmegroup.com/clearing/family-farmer-fund.html.
The Opinions expressed are the opinions of the author. The opinions, the trading styles, trading information and trading programs are not endorsed by the NIBA, but are the individual opinions, styles, information and programs of the author.