And that there not be waivers or exemptions?
And when are you going to be deciding whether to carry out that mandate--in other words, remove the exemptions, remove t...
I think that we have the clear authority to do it as it relates to the two no-action letters.
Well, thank you all very much for your testimony.
Well, I am not sure I understand your explanation as to why you disagree that the storage cost shift cannot explain this...
And we have shown the correlation between the huge influx of money from the index funds to the increase in the futures p...
Do you believe that it was a big factor prior to 2004?
And yet we see this major change in the basis while the same contract was in effect, is that correct?
Well, I am glad to hear you acknowledge at least that it is a contributing factor.
But you have the authority, should you decide to issue that rule?
Exchanges typically charge a transaction fee and a clearing fee for each commodity trade that takes place.
If elevators are hurt, because they cannot effectively hedge, is it fair to say that farmers who deal with those elevato...
Should you decide to impose the standard position limits, what is your response to that argument?
It is a predominant factor, yes.
The problem is that there is an embedded option inside of the futures contract for below-market cost of storage.
I am not sure I understand your explanation as to why you disagree that the storage cost shift cannot explain this incre...
But the volatility in the basis has had an effect on you.
So you would agree that the basis, the price gap, is larger than has been historically the case, is that correct?
