304 Reproposed Postion Limits

PRIVILEGED AND CONFIDENTIAL PRE-DECISIONAL DISCUSSION DRAFT
FINAL SERIES ’04 FORMS WITH EXAMPLES
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CFTC FORM 304
Statement of Cash Positions for Unfixed-Price
Cotton “On Call”

NOTICE: Failure to file a report required by the Commodity Exchange Act (“CEA” or the “Act”)
1
and the regulations thereunder, 2 or the filing of a report with the Commodity Futures Trading Commission
(“CFTC” or “Commission”) that includes a false, misleading or fraudulent statement or omits material facts that are
required to be reported therein or are necessary to make the report not misleading, may (a) constitute a violation of §
6(c)(2) of the Act (7 U.S.C. 9), § 9(a)(3) of the Act (7 U.S.C. 13(a)(3)), and/or § 1001 of Title 18, Crimes and
Criminal Procedure (18 USC 1001) and (b) result in punishment by fine or imprisonment, or both.
PRIVACY ACT NOTICE
The Commission’s authority for soliciting this information is granted in sections 4i and 8 of the CEA and related
regulations (see, e.g., 17 CFR § 19.02). The information solicited from entities and individuals engaged in activities
covered by the CEA is required to be provided to the CFTC, and failure to comply may result in the imposition of
criminal or administrative sanctions (see, e.g., 7 U.S.C. §§ 9 and 13a-1, and/or 18 U.S.C. 1001). The information
requested is most commonly used in the Commission’s market and trade practice surveillance activities to (a)
provide information concerning the size and composition of the commodity derivatives markets, (b) permit the
Commission to monitor and enforce speculative position limits and (c) enhance the Commission’s trade surveillance
data. The requested information may be used by the Commission in the conduct of investigations and litigation and,
in limited circumstances, may be made public in accordance with provisions of the CEA and other applicable laws.
It may also be disclosed to other government agencies and to contract markets to meet responsibilities assigned to
them by law. The information will be maintained in, and any additional disclosures will be made in accordance with,
the CFTC System of Records Notices, available on www.cftc.gov.

1

7 U.S.C. section 1, et seq.
Unless otherwise noted, the rules and regulations referenced in this notice are found in chapter 1 of title 17 of the
Code of Federal Regulations; 17 CFR Chapter 1 et seq.

2

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BACKGROUND & INSTRUCTIONS
Applicable Regulations:
• 17 CFR § 19.00(a)(2) specifies who must file Form 304.
• 17 CFR § 19.00(b) specifies the manner of reporting on series ’04 reports, including Form 304.
• 17 CFR § 19.02(a) specifies the information required on Form 304.
• 17 CFR § 19.02(b) specifies the frequency (weekly), the as of report date (close of business on Friday), and
the time (9 a.m. Eastern Time on the third business day following the date of the report), for filing the Form
304.
As appropriate, please follow the instructions below to generate and submit the required report or filing. Relevant
regulations are cited in parentheses () for reference. Unless the context requires otherwise, the terms used herein
shall have the same meaning as ascribed in parts 15 to 21 of the Commission’s regulations.
Complete Form 304 as follows:
The trader identification fields should be completed by all filers. This updated Form 304 requires traders to
identify themselves using their Public Trader Identification Number, in lieu of the CFTC Code Number required on
previous versions of the Form 304. This number is provided to traders who have previously filed Forms 40 and 102
with the Commission. Traders may contact the Commission to obtain this number if it is unknown. If a trader has a
National Futures Association Identification Number (“NFA ID”) and/or a Legal Entity Identifier (“LEI”), he should
also identify himself using those numbers. Form 304 requires traders to identify the name of the reporting trader or
firm and the contact information (including full name, address, phone number, and email address) for a natural
person the Commission may contact regarding the submitted Form 304.
Merchants and dealers of cotton must report on Form 304. Report in hundreds of 500-lb. bales unfixed-price
cotton “on-call” pursuant to § 19.02(a). Include under “Call Purchases” stocks on hand for which price has not yet
been fixed. For each listed stock, report the delivery month, delivery year, quantity of call purchases, and quantity of
call sales.
The signature/authorization page must be completed by all filers. This page must include the name and position
of the natural person filing Form 304 as well as the name of the reporting trader represented by that person. The
trader certifying this Form 304 on the signature/authorization page should note that filing a report that includes a
false, misleading or fraudulent statement or omits material facts that are required to be reported therein or are
necessary to make the report not misleading, may (a) constitute a violation of § 6(c)(2) of the Act (7 U.S.C. 9), §
9(a)(3) of the Act (7 U.S.C. 13(a)(3)), and/or § 1001 of Title 18, Crimes and Criminal Procedure (18 U.S.C. 1001)
and (b) result in punishment by fine or imprisonment, or both.

Submitting Form 304: Once completed, please submit this form to the Commission pursuant to the instructions on
[www.cftc.gov] or as otherwise directed by Commission staff. If submission attempts fail, the reporting trader shall
contact the Commission at [[email protected]] for further technical support.

Please be advised that pursuant to 5 CFR § 1320.5(b)(2)(i), you are not required to respond to this collection of
information unless it displays a currently valid OMB control number.

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OMB No. 3038-0013

Public Trader ID No. [provided by CFTC]

NFA ID

Identifying Information
Identification Codes:
Legal Entity Identifier (LEI)
Name of Reporting Trader or Firm:

COMMODITY FUTURES TRADING COMMISSION
FORM 304
STATEMENT OF CASH POSITIONS FOR UNFIXED-PRICE
COTTON “ON-CALL”

First Name

Address

Name of Person to Contact Regarding This Form:
Middle
Last Name
Name

Suffix

Contact Information:
Phone
Email Address
Number

NOTICE: Failure to file a report required by the Commodity Exchange Act (“CEA” or the “Act”) and the regulations thereunder, or the filing of a report with the Commodity Futures Trading Commission (“CFTC” or
“Commission”) that includes a false, misleading or fraudulent statement or omits material facts that are required to be reported therein or are necessary to make the report not misleading, may (a) constitute a violation of §
6(c)(2) of the Act (7 U.S.C. 9), § 9(a)(3) of the Act (7 U.S.C. 13(a)(3)), and/or § 1001 of Title 18, Crimes and Criminal Procedure (18 U.S.C. 1001) and (b) result in punishment by fine or imprisonment, or both. Please be
advised that pursuant to 5 CFR § 1320.5(b)(2)(i), you are not required to respond to this collection of information unless it displays a currently valid OMB control number.

Unfixed-price Cotton “on-call” pursuant to § 19.02(a); include under “Call Purchases” stocks on hand for which price has not yet been fixed. Report
in hundreds of bales (500-lb. bales).
Delivery Month

Delivery Year

CFTC Form 304 (XX-XX)
Previous Editions Obsolete

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Call Purchases
(’00 bales)

Call Sales
(’00 bales)

PRIVILEGED AND CONFIDENTIAL PRE-DECISIONAL DISCUSSION DRAFT
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Please sign/authenticate the Form 304 prior to submitting.
Signature/ Electronic Authentication:
□ By checking this box and submitting this form (or by clicking “submit,” “send,” or any other analogous transmission command if transmitting
electronically), I certify that I am duly authorized by the reporting trader identified below to provide the information and representations submitted on
this Form 304, and that to the best of my knowledge the information and representations made herein are true and correct.

Reporting Trader Authorized Representative (Name and Position):
____________________ (Name)
____________________ (Position)

Submitted on behalf of:
____________________ (Reporting Trader Name)

Date of Submission: _____________________

CFTC Form 304 (XX-XX)
Previous Editions Obsolete

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PRIVILEGED AND CONFIDENTIAL PRE-DECISIONAL DISCUSSION DRAFT
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Form 304, Example – July 2017 Call purchases of 200 bales and sales of 1,800 bales; October Call purchases of 6,600 bales and sales of
8,000 bales.
Unfixed-price Cotton “on-call” pursuant to § 19.02(a); include under “Call Purchases” stocks on hand for which price has not yet been fixed. Report in hundreds
of bales (500-lb. bales).
Delivery Month

Delivery Year

Call Purchases
(’00 bales)

Call Sales
(’00 bales)

July

2017

2

18

October

2017

66

80

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