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.
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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. |
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