[Title 17 CFR 1.3(z)]
[Code of Federal Regulations (annual edition) - April 1, 2003 Edition]
[Title 17 - COMMODITY AND SECURITIES EXCHANGES]
[Chapter I - COMMODITY FUTURES TRADING COMMISSION]
[Sec. 1.3(z) - OF THIS CHAPTER AND BY MERCHANTS AND DEALERS IN COTTON--Table of Contents]
[From the U.S. Government Printing Office]


17COMMODITY AND SECURITIES EXCHANGES12003-04-012003-04-01false1.3(z)Sec. 1.3(z)COMMODITY AND SECURITIES EXCHANGESCOMMODITY FUTURES TRADING COMMISSION
PART 19--REPORTS BY PERSONS HOLDING BONA FIDE HEDGE POSITIONS PURSUANT TO Sec. 1.3(z) OF THIS CHAPTER AND BY MERCHANTS AND DEALERS IN COTTON--Table of Contents




Sec.
19.00  General provisions.
19.01  Reports on stocks and fixed price purchases and sales pertaining 
          to futures positions in wheat, corn, oats, soybeans, soybean 
          oil, soybean meal or cotton.
19.02  Reports pertaining to cotton call purchases and sales.
19.03-19.10  [Reserved]

    Authority: 7 U.S.C. 6g(a), 6i, and 12a(5), unless otherwise noted.

    Source: 43 FR 45828, Oct. 4, 1978, as amended at 46 FR 63036, Dec. 
30, 1981, unless otherwise noted.



Sec. 19.00  General provisions.

    (a) Who must file series '04 reports. The following persons are 
required to file series '04 reports:
    (1) All persons holding or controlling futures and option positions 
that are reportable pursuant to Sec. 15.00(b)(1)(ii) of

[[Page 315]]

this chapter and any part of which constitute bona fide hedging 
positions as defined in Sec. 1.3(z) of this chapter,
    (2) Merchants and dealers of cotton holding or controlling positions 
for futures delivery in cotton that are reportable pursuant to 
Sec. 15.00(b)(1)(i) of this chapter, or
    (3) All persons holding or controlling positions for future delivery 
that are reportable pursuant to Sec. 15.00(b)(1)(i) of this chapter who 
have received a special call for series '04 reports from the Commission 
or its designee. Filings in response to a special call shall be made 
within one business day of receipt of the special call unless otherwise 
specified in the call. For the purposes of this paragraph, the 
Commission hereby delegates to the Director of the Division of Market 
Oversight, or to such other person designated by the Director, authority 
to issue calls for series '04 reports.
    (b) Manner of reporting. The manner of reporting the information 
required in Sec. 19.10 is subject to the following:
    (1) Excluding products or byproducts of the cash commodity hedged. 
If the regular business practice of the reporting trader is to exclude 
certain products or byproducts in determining his cash positions for 
bona fide hedging (as defined in Sec. 1.3(z) of this chapter), the same 
shall be excluded in the report. Such persons shall furnish to the 
Commission upon request detailed information concerning the kind and 
quantity of product or byproduct so excluded.
    (2) Cross hedges. Cash positions that represent a commodity or 
products or byproducts of a commodity that is different from the 
commodity for future delivery in which such cash position is being 
hedged shall be shown both in terms of the commodity for future delivery 
and in terms of the cash commodity as provided for on the appropriate 
series '04 form.
    (3) Standards and conversion factors. In computing their cash 
position, every person shall use such standards and conversion factors 
that are usual in the particular trade or that otherwise reflect the 
value-fluctuation-equivalents of the cash position in terms of the 
commodity for future delivery. Such person shall furnish to the 
Commission upon request detailed information concerning the basis for 
and derivation of such conversion factors.

(Approved by the Office of Management and Budget under control number 
3038-0009)

[43 FR 45828, Oct. 4, 1978, as amended at 46 FR 63036, Dec. 30, 1981; 56 
FR 14194, Apr. 8, 1991; 57 FR 41390, Sept. 10, 1992; 62 FR 6114, Feb. 
11, 1997; 62 FR 13301, Mar. 20, 1997; 67 FR 62352, Oct. 7, 2002]



Sec. 19.01  Reports on stocks and fixed price purchases and sales pertaining to futures positions in wheat, corn, oats, soybeans, soybean oil, soybean meal or 
          cotton.

    (a) Information required. Persons required to file '04 reports under 
Sec. 19.00(a)(1) or Sec. 19.00(a)(3) of this chapter shall file CFTC 
Form 304 reports for cotton and form 204 reports for other commodities 
showing the composition of the fixed price cash position of each 
commodity hedged in the futures contract market including:
    (1) The quantity of stocks owned of such commodities and their 
products and byproducts.
    (2) The quantity of fixed price purchase commitments open in such 
cash commodities and their products and byproducts.
    (3) The quantity of fixed price sale commitments open in such cash 
commodities and their products and byproducts; and in addition for 
cotton,
    (4) The quantity of equity in cotton held by the Commodity Credit 
Corporation under the provisions of the Upland Cotton Program of the 
Agricultural Stabilization and Conservation Service of the U.S. 
Department of Agriculture.
    (5) The quantity of certificated cotton owned.
    (b) Time and place of filing reports-- Except for reports filed in 
response to special calls made under Sec. 19.00(a)(3), each report shall 
be made monthly, as of the close of business on the last Friday of the 
month, and filed at the appropriate Commission office specified in 
paragraph (b) (1) or (2) of this section not later than the second 
business day following the date of the report in the case of the 304 
report and not later than the third business day following the date of 
the report in the case of the 204 report. Reports may be transmitted by 
facsimile or, alternatively, information on the form may be reported to

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the appropriate Commission office by telephone and the report mailed to 
the same office, not later than midnight of its due date.
    (1) CFTC Form 204 reports with respect to transactions in wheat, 
corn, oats, soybeans, soybean meal and soybean oil should be sent to the 
Commission's office in Chicago, Il. unless otherwise specifically 
authorized by the Commission or its designee.
    (2) CFTC Form 304 reports with respect to transactions in cotton 
should be sent to the Commission's office in New York, NY, unless 
otherwise specifically authorized by the Commission or its designee.

(Approved by the Office of Management and Budget under control number 
3038-0009)

[43 FR 45828, Oct. 4, 1978, as amended at 46 FR 63036, Dec. 30, 1981; 57 
FR 41390, Sept. 10, 1992]



Sec. 19.02  Reports pertaining to cotton call purchases and sales.

    (a) Information required. Persons required to file '04 reports under 
Sec. 19.00(a)(2) of this chapter shall file CFTC Form 304 reports 
showing the quantity of call cotton bought or sold on which the price 
has not been fixed, together with the respective futures on which the 
purchase or sale is based. As used herein, call cotton refers to spot 
cotton bought or sold, or contracted for purchase or sale at a price to 
be fixed later based upon a specified future.
    (b) Time and place of filing reports. Each report shall be made 
weekly as of the close of business on Friday and filed at the 
Commission's office in New York, NY, not later than the second business 
day following the date of the report. Reports may be transmitted by 
facsimile or, alternatively, information on the form may be reported to 
the appropriate Commission office by telephone and the report mailed to 
the same office, not later than midnight of its due date.

[57 FR 41391, Sept. 10, 1992]



Secs. 19.03-19.10  [Reserved]

                           PART 20 [RESERVED]