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AJC Update from MGEX

Issue 15, July 28, 2011
In this issue
:: Outstanding Action Items Prior to Announcement of Contract Launch
:: Commitment to the Industry
:: About MGEX
 
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Outstanding Action Items Prior to Announcement of Contract Launch

MGEX is very pleased with the collaborative spirit gained through the AJC contract development.  We look forward to announcing a launch date as soon as possible.

 

  • The Exchange continues discussions with facilities to become regular or certified for delivery.  While we have been pleased with the number of the facilities we are having discussions with, unfortunately we do not have a sufficient number of warehouses meeting all MGEX requirements.  If you are an AJC product owner, we strongly encourage you to contact your warehouseman, urging the facility to finalize the conditions for becoming a point of delivery for the futures contract.   
  • MGEX continues to seek potential delivery locations, so it is not too late for new warehouses to become involved. 
  • While the comment period concluded on June 3, a party has recently expressed thoughts on the warehouse receipt and its accompanying terms and conditions.  MGEX is reevaluating our regulations and the warehouse receipt to ensure the broadest constituency will be able to utilize this risk management tool.  
Commitment to the Industry

MGEX is committed to launching an AJC futures and options contract and keeping you accurately informed of the progress being made. The ongoing development and due diligence is nearing completion.  While this process has taken much longer than you and we anticipated, we are confident in the significant strides we have made to ensure a valuable risk management tool for the AJC industry.  Please contact MGEX directly via email or at 1-800-827-4746 if you have any questions or would like more information.  We also encourage you to forward this communication to your customers and other industry participants.  

 

Please consult our website for the most accurate information about the contract and its launch.     

About MGEX 
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At MGEX, we are proud of our nearly 130 years in the derivatives industry.  MGEX is regulated marketplace providing transparent price discovery, regulatory oversight and risk mitigation products and services.  We are Designated Contract Market and Derivatives Clearing Organization.  Learn more about MGEX by visiting our website
 
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