NGFA meets with CFTC chairman nominee
(Posted on 12/02/19)
US National feed and Grain Association (NGFA) helped organize and participated in a Feb. 7 meet-and-greet with Commodity Futures Trading Commission (CFTC) nominee Heath Tarbert, during which he discussed his views on hedging, high-frequency trading and user fees, among other topics. Tarbert currently is assistant secretary for international markets and investment policy at the U.S. Department of the Treasury and on Jan. 9 was nominated by President Trump nominee to succeed current CFTC Chairman Chris Giancarlo when his term ends in April 2019.
Prior to joining Treasury, Tarbert was a partner at the international law firm of Allen & Overy LLP. He also was a special counsel to the Senate Banking Committee and a law clerk for Supreme Court Justice Clarence Thomas. In his current role at Treasury, Tarbert manages the Committee on Foreign Investment in the United States (CFIUS), an interagency committee that investigates foreign direct investments into the United States for potential threats to national security. He also oversees the U.S. Treasury Department’s work streams on economic development, international financial stability, trade policy and negotiations, energy and infrastructure investments, and foreign technical assistance.
During the get-acquainted meeting, the NGFA discussed with Tarbert its views on the CFTC’s speculative position limit rule, including the importance of expressly including in a final rule as many “enumerated” bona fide hedging strategies as possible so they are not put at risk (as occurred during an early proposal by CFTC); encouraged the CFTC to continue monitoring CME Group’s implementation of block trading to ensure that pricing is appropriate and that block trading does not sap liquidity from the central limit order book; and highlighted issues surrounding high-frequency/algorithmic trading, including ensuring that all market participants observe trading rules.
Latest News
Call for EU co-legislators to secure clean ammonia production
(Posted on 28/03/23)Fertilizers Europe has called on EU co-legislators to ensure that clean fertilizer and ammonia production... Read more
BHP and Hatch design study for electric smelting furnace pilot
(Posted on 24/03/23)BHP and global engineering, project management and professional services firm, Hatch, have signed an... Read more
Rio Tinto spends over A$15.3 bn with Australian suppliers
(Posted on 20/03/23)Rio Tinto increased its spend with Australian suppliers to more than A$15.3 billion in 2022, as part... Read more
Trafigura closes the refinancing and extension of credit facilities
(Posted on 20/03/23)Trafigura Group Pte Ltd., a market leader in the global commodities industry, has announced the closing... Read more
Nexyst 360 selects Nexxiot to digitalize 5000 grain containers
(Posted on 07/03/23)Nexyst 360, an innovative grain transportation solution provider, has partnered with Nexxiot to digitalize... Read more
Cargill strengthens executive team
(Posted on 28/02/23)Cargill has announced the appointments of Joanne Knight as Chief Financial Officer (CFO) and Philippa... Read more
SACE’s Push Strategy to support supplies of commodities to Italy
(Posted on 24/02/23)Trafigura, a market leader in the global commodities industry, has entered into a USD 500 million five... Read more
Job losses loom as British steel proposes coke ovens closure
(Posted on 22/02/23)British Steel has announced proposals to close its coke ovens as part of its drive to overcome global... Read more
Rio Tinto and Marubeni to create stronger Aluminium supply chains
(Posted on 20/02/23)Global miner Rio Tinto and Japanese trader and business conglomerate Marubeni Corporation have agreed... Read more
Trafigura completes acquisition of Ecobat Stolberg multi-metals plant
(Posted on 20/02/23)Trafigura, a market leader in the global commodities industry, and Ecobat, the global leader in battery... Read more
