The power of the customer...Even though they haven't listened too much the past few years, your voice is needed. Farmers & Ranchers, End Users & Producers, Merchandisers & Grain Elevators, Traders & Clearing firms, please write a letter addressing your concerns. The leverage Computer Alogrithms have over YOUR orders...How is this working for you? It is time the REAL market participants have a voice at the CME.


Choice of Delivery:

NAME
Title
Address
City, State Zip Code

Date

Dear CME GROUP,

As an active customer and trader, farmer, rancher, producer, grain elevator, hedger, or end-user, I am writing to voice my strong opposition to the proposed change in the rule regarding settlement procedures in the CME and CBOT agricultural products.

When electronic trading was introduced I was excited about the new platform to enhance the agricultural markets. The marketplace was led to believe that there would be two venues that would be transparent, equitable and liquid. What you now have are two diluted, illiquid markets that are not held to the same rules and ethics.

These destructive practices have driven the needed participants to use other methods of trading and hedging. The decision to switch to a blended-settlement or an electronic settlement will inevitably negatively affect the market volume and ultimately the jobs that support the industry.

I appreciate the liquidity and transparency currently employed in pit settlements. I feel the electronic market would be used to easily manipulate the settlement process thereby diminishing the integrity of the grain and livestock markets. I feel that pit settlement is a superior method of end of day pricing. The leverage the CME has given to computer algorithms has and will continue to erode the integrity of the grain and livestock contracts.

Sincerely,

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