Form 40 Statement of Reporting Trader

OMB NO. 3038-0009

CFTC FORM 40
STATEMENT OF REPORTING TRADER
Public reporting burden for this collection of information is estimated to average 20 minutes per response,
including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data
needed, and completing and reviewing the collection of information. Send comments regarding this burden estimate
or any other aspect of this collection of information, including suggestions for reducing this burden, to Agency
Clearance Officer, Administrative Services, Commodity Futures Trading Commission, Three Lafayette Centre,
st
1155 21 Street, NW, Washington, DC 20581; and to the Office of Information and Regulatory Affairs, Office of
Management and Budget, Washington, DC 20503.

PRIVACY ACT NOTICE
The Privacy Act of 1974 says that each Federal Agency that asks you for information must tell you the following:
1.
2.
3.

Its legal right to ask for the information and whether the law says you must give it.
What purpose the agency has in asking for it, and the use to which it will be put.
What could happen if you do not give it.

For the large trader reporting system of the Commodity Futures Trading Commission, the law covers the following:
1.
2.
3.
4.

The CFTC form 4O.
The series ‘03 reports.
The series ‘04 reports.
Any questions concerning records of your cash, futures, and option positions which you are required to
maintain by the regulations under the Commodity Exchange Act.

Our legal right to ask for information from traders with large futures or option market positions is granted in sections
4i and 8 of the Commodity Exchange Act (7 U.S.C. 61 and 12). Disclosure of the information called for is mandatory
and failure to comply may result in the imposition of criminal or administrative sanctions (see e.g., 7
U.S.C. 9, 213a-1, 13(c)).
The information requested is used generally in the Commission’s market surveillance activities to provide
information concerning the size and composition of the commodity futures or option markets, and to permit the
Commission to monitor and enforce the speculative position limits that have been established. The complete listing
of routine uses, in accordance with the Privacy Act, 5 U.S.C. §522a, and the Commission’s rules thereunder, 17
CFR Part 146, of the information contained in these records is found in the Commission’s annual notice of its
system of records.
Data from the forms may be used by the Commission in the conduct of investigations or litigation and, in limited
circumstances, may be made public in accordance with provisions of the Commodity Exchange Act. It may also be
disclosed to other government agencies and to contract markets to meet their responsibilities assigned to them by
law.
CFTC Form 40 (05/00)
Previous Editions Obsolete

GENERAL INSTRUCTIONS
Who Must File a Form 40 — Every person who holds or controls a reportable position must file a
CFTC Form 40, Statement of Reporting Trader. (See section 18.04 of the regulations under the
Commodity Exchange Act.)
Persons include individuals, associations, partnerships, corporations, and trusts.
What to File — All trades required to file must complete part A. In addition:
1.
Traders who are individuals, partnerships, or joint tenants must also complete part B.
2.
All other traders must complete part C.
3.
All traders commercially engaged in the marketing of cash commodities or in business activities that they
hedge by using futures or option markets must also complete schedule 1.
When to File — A reportable trader must file a form 40 on call by the Commission or its designee.
Where to File — This statement is to be submitted to the nearest CFTC office or as otherwise instructed.
Signature — Your signature is required as the last item on part A.

COMPLETING PART A
All reportable traders are required to complete part A and all questions must be answered. If the trader filing the
form 40 is an independent account controller and is not employed by, in partnership with, or similarly affiliated
with the trader in whose name futures or option trading is done, the controller is the reporting trader and should
answer all questions with respect to himself, not with respect to the person whose trading is controlled.
1.
Name and address of the trader. If futures or option trading is done in the name of a firm, list the firm’s
name as the reporting trader. If the futures or option trading is done in the name of an individual, list the
reporting trader’s last name, first name, and middle initial.
2.
Principal business and occupation of the reporting trader. Show the principal business or occupation
of reporting trader. In addition, for question 2b, check at least one and/or as many categories as are
applicable.
3.
Type of trader. Indicate type with respect to the reporting trader. If individual, joint tenant, or partnership
is indicated, complete part B in addition to part A. If corporation, association, or trust, etc., is indicated,
complete part C in addition to part A.
4.
Is the reporting trader registered under the Commodity Exchange Act? Answer “yes” only if the
registration is currently in effect. Note: If the registration status changes during the next twelve months,
the reporting trader is not required to file an updated form 40.
5.
Does the reporting trader control the futures or option trading for any other persons? Traders
control the futures or option trading of other persons if, by power of attorney or otherwise, they actually
direct trading in futures or option accounts of other persons. Persons who control all or a portion of the
assets of commodity pools must give the names and addresses of each commodity pool operator and for
each commodity pool operator the names of the pools for which trading is controlled. For managed or
guided account customer programs in which ten or more persons participate, give the name of the
program indicating that it is a customer trading program and give the name and address of the person
sponsoring the program.
6. Does any other person control the trading of the reporting trader? Do not include brokers unless, by
power of attorney or otherwise, the broker actually directs the trading. Persons who are commodity pool
operators, or participate in the management of commodity pools by selecting advisor to trade the assets

of the pools, give the names of each pool for which assets are managed, indicate whether you are a
commodity pool operator for the pool, and, for each pool, give the names, addresses and business
phones of those controlling the trading of the assets of the pool.
7. Give names and locations of all firms through which the reporting trader now carries accounts. In
addition, provide the name of the account executive at each office of the firms at which the futures or
option trading accounts are carried. (Note: If the information in answer to this question changes, an
updated statement is not required.)
8. Do any other persons guarantee the futures or option trading accounts of the reporting trader or
have a financial interest of ten percent or more in the reporting trader or the futures or option
accounts of the reporting trader? If “yes,” list the names and locations of such persons and show
whether they guarantee the accounts by checking “G,” or have a financial interest in the accounts of the
reporting trader by checking “F.”
9. Does the reporting trader guarantee or have a financial interest of ten percent or more in futures
or option accounts not in the trader’s name or have a financial interest of ten percent or more in
another futures or option trader? If “yes,” give (1) the names of the accounts that the reporting trader
guarantees or in which the reporting trader has a financial interest (including interest as a limited partner),
the names of the principal owners of such accounts, and the names and the locations of the brokerage
firms through which such accounts are carried; and/or (2) the names of the futures or option traders in
which the reporting trader has a financial interest. In addition, show whether the reporting trader
guarantees (G) or has a financial interest (F) in the traders or accounts listed.
10. Does the reporting trader represent a foreign government? If the reporting trader is a representative
of instrumentality of a foreign government, specify the relationship according to those shown on the form.
On a continuation sheet, briefly elaborate on the type of relationship, and indicate any manner in which
the futures or option trading is restricted or otherwise controlled.

COMPLETING PART B
To be Completed by Individuals, Joint Tenants, and Partnerships
1.
2.
3.

4.

5.

Give the telephone number at which the reporting trader can be contacted during normal business
hours.
Employer and job title. This question should be answered only if type of trader (part A, question 3) has
been checked “individual.”
Is the reporting trader commercially engaged in business activities hedged by use of the futures
or option markets? This would include production, merchandising, or processing of a cash commodity,
asset/liability risk management by depository institution, security portfolio risk management, etc. If “yes,”
complete schedule I listing the futures or option contract used, the cash commodity(ies) hedged, or the
risk exposure covered, and the marketing occupations associated with hedging uses. (For a definition of
hedging, see the instructions for completing schedule 1.)
Does the reporting trader participate in the management of any organization that holds another
futures or option trading account? If the reporting trader is an officer, partner, or holds a position of
similar responsibility, answer “yes.”
For partnerships and joint tenants. For partnerships, list the name and address of each partner,
excluding limited partners in commodity pools. (Limited partners with 10 percent or more financial
interest should be reported under part A, question 9.) For joint tenants, list each tenant. In both
instances, indicate which person ordinarily places orders.

COMPLETING PART C
To be Completed by Traders Who Checked Corporation, Association,
Trust, or “Other” Type of Trader in Part A
1.

2.

3.

For corporations, associations, and trusts. In answering item “b” of this question, a company is
considered to be your parent if it has more than 50% financial interest in your firm. List all parent
companies. For example, a company that is a wholly owned subsidiary of a wholly owned subsidiary would
have two parent companies.
Is the reporting trader commercially engaged in business activities hedged by use of the futures or
option markets? This would include production, merchandising, or processing of a cash commodity,
asset/liability risk management by depository institution, security portfolio risk management, etc. If “yes,”
complete schedule 1 listing the futures or option contract used, the cash commodity(ies) hedged or the risk
exposure covered, and the market occupations associated with hedging uses. (For a definition of hedging,
see the instruction for completing schedule 1.)
Person(s) to contact regarding a firm’s futures or option trading. If the person to contact regarding the
firm’s futures or option trading is different than that person controlling such trading, give name, office
address, and business telephone number under question 3b. If same, please indicate.

COMPLETING SCHEDULE 1
To be Completed Only by Traders Who Checked “Yes” to
Question 3 of Part B or Question 2 of Part C
General Definition. Bona fide hedging transactions and positions mean transactions and positions in a
contract for future delivery on any contract market, or in a commodity option, where such transactions or
positions normally represent a substitute for transactions to be made or positions to be taken at a later time in a
physical marketing channel, and where they are economically appropriate to the reduction of risks in the
conduct and management of a commercial enterprise, and where they arise from:
1.

The potential change in the value of assets which a person owns, produces, manufactures, processes, or
merchandises or anticipates owning, producing, manufacturing, processing, or merchandising;

2.

The potential change in the value of liabilities which a person owns or anticipates incurring; or

3.

The potential change in the value of services which a person provides, purchases, or anticipates providing
or purchasing.

If the reporting trader’s use of the futures or option markets conforms to this general definition, complete
schedule 1 using a continuation sheet if necessary. The schedule is comprised of three parts based on the type
of futures or option market used for hedging: financial futures and options including currencies; agricultural and
natural resources futures and options, excluding livestock and meats; and, livestock and meats futures and
options. For each of the three types of futures and option markets that you use for hedging, first list or check-off
all merchandising or marketing activities associated with your hedging. Next, list the futures and option markets
you use and the cash market instruments, commodities, or risk exposure that you hedge. If the marketing
activities listed on the schedule do not adequately describe activities associated with your hedging, check
“other” and attach a short narrative comment. Please contact any CFTC office of you have questions.

Complete and return This statement promptly. Print or type. ALL TRADERS MUST COMPLETE PART A

PART A
1. Name of Reporting Trader (If Individual - Last, First, Middle Initial)_________________________________________________________________
Street Address
City

State/Country

Zip/Postal Code

2a. Principal Business and Occupation of the Reporting Trader. (Be Specific.) ___________________________________________________________
Does the reporting traders business include the trading of futures or options for customers?

YES

NO
2b. Is the reporting traders futures or option trading for, on behalf of, or in association with, any of the following: (check at least one and as many more as
are applicable.)
(1)
A customer trading program of an FCM?
(2)
A commodity pool?
(3)
Speculative activity? (i.e.. futures or option transactions that do not constitute hedging)
(4)
Commercial use by self or employer?
(5)
Other (Specify) ________________________________________________________________________________________________________
3. Type of Trader: (Check only one)
(a)
Individual
(b)
Joint Tenant
In addition to Part A. complete Part B
(c)
Partnership
(d)
Corporation
(e)
Association
(f )
Trust
(g)
Other (Specify)

}
}

In addition to Part A, complete Part C

4. Is the reporting trader registered under the Commodity Exchange Act as:
YES
NO




(a) A futures commission merchant?




(b) An introducing broker?




(c) An associated person of an FCM?




(d) A commodity trading advisor?




(e) A commodity pool operator?




(f) A floor broker?




(g) A floor trader?
5. Does the reporting trader control the futures or option trading of any other persons? Persons include individuals, associations. partnerships.
corporations and trusts.
YES
NO
If "yes" give names and addresses of such persons. See the instructions for reporting commodity pools and managed or guided account customer
trading programs. (Use a continuation sheet if necessary.)
Names
Addresses
Street Address

City

State/Country

Zip/Postal Code

State/Country

Zip/Postal Code

State/Country

Zip/Postal Code

Street Address

City

Street Address

City

6. Do any other persons control the trading of the reporting trader? (Do not include brokers who merely execute orders.)

YES
NO If "yes" give names, addresses and business telephone numbers of such persons. See the instructions for reporting trading
advisors that trade the assets of commodity pools. (Use a continuation sheet if necessary.)

Name

Street Address

Business Phone

City

Name

Street Address

Business Phone

City

State/Country

Zip/Postal Code

State/Country

Zip/Postal Code

7. Give names and locations of all firms through which the reporting trader now carries accounts and the name of the account executive at each firm. Use
a continuation sheet if necessary. (If U.S. location, give city and state; if foreign country, give city and country.)
NAMES
LOCATIONS
Firms

City

State/Country

Account Executive
8. Do any other persons guarantee the futures or option trading accounts of the reporting trader or have a financial interest of 10 percent or more in the
reporting trader or the futures or option accounts of the reporting trader?
YES
NO
If "yes" give names and locations (city & state) of such persons. Indicate whether they guarantee (G) or have a financial interest (F) in the reporting
trader or the accounts. Use a continuation sheet if necessary.
NAMES
LOCATIONS

(F)
(G)

(F)
(G)

9. Does the reporting trader guarantee or have a financial interest of 10 percent or more in futures or option accounts not In the trader’s name or have a
financial Interest of 10 percent or more in another futures or option trader (including interest as a limited partner)?
YES
NO
If "yes" give (1) the names of the accounts that the reporting trader guarantees or in which the reporting trader has a financial interest, the names of
the principal owners of such accounts and the names and the locations of the brokerage firms through which such accounts are carried; and/or (2) the
names of the futures or option traders in which the reporting trader has a financial interest. In addition show whether the reporting trader guarantees
(G) or has a financial interest (F) in the traders or accounts listed.

(F)
(G)

a.

b.

Account or Trader Name

Principle Owner(s) of the Account

c.

d.
Brokerage Firm Carrying the Account

(Brokerage Firm Location)

1O. Does the reporting trader represent a foreign government. act as an agent of a foreign government, receive financing from a foreign government
either through ownership of capital assets or provision of operation expenses or is the reporting trader an entity specialty acknowledged by a statute
or regulation of a foreign jurisdiction?
YES
NO
If "yes" give the name of the country that the trader represents and complete items (a) through (e) below.
Name of Country ________________________________________________________________________________________________________
(a) Does the reporting trader act as an agent of the government?
YES
NO
(b) Is the reporting trader acknowledged by a statute or regulation of a foreign jurisdiction?
YES
NO
(c) Does the government directly or indirectly control the trading?
YES
NO
(d) Does the government finance the reporting trader, either through capital ownership of assets or by providing operating expenses?
YES
NO
(e) Use a continuation sheet to briefly describe the nature of the relationship(s) with foreign governments indicated in items (a)-(d) above, or any
other manner in which the reporting trader represents a foreign government.
This statement should be signed by the reporting trader personally. If the reporting trader is in the name of an organization. a partner. officer or trustee should sign this form.
Name and title should be printed on the lines above signature.

Name(Print or Type)

Title:

Signature:

Date:

PART B
For Individual, Joint Tenant or Partnership Accounts.
If INDIVIDUAL, JOINT TENANT or PARTNERSHIP is Checked as Type of Trader in Part A, Item 3
Complete this part of the form.
Name of Reporting Trader (as shown on Part A) ___________________________________________________________________________________
I. Business Telephone Number of Reporting Trader ________________________________________________________________________________
2.Answer (a) and (b) only if type has been checked "Individual."
(a) Name of Employer _______________________________________________________________________________________________________
(b) Job Title _______________________________________________________________________________________________________________
3. Is the reporting trader engaged in business activities hedged by use of the futures or option markets?
YES
NO
This would include production, merchandising or processing of a cash commodity, asset/liability risk management, security portfolio risk management,
etc.
If "yes", complete Schedule 1 listing the futures or option contract used, the cash commodity(ies) hedged or the risk exposure covered, and the
marketing occupations associated with hedging uses. (For a definition of hedging. see the instructions for completing Schedule 1.)

4.Does the reporting trader participate in the management of any organization that holds another futures or option trading account?

YES
NO
If "yes" give names and addresses of organizations and check type. (Use a continuation sheet if necessary.)

Corporation
Name of Organization

Partnership

Trust

Street Address

City

State/Country

Other (Specify)

Zip/Postal Code

5. For Partnerships and Joint Tenants: List name and address of each partner and/or joint tenant, excluding limited partners in commodity pools. (Limited
partners with 10 percent or more financial interest should be reported under Question 9 of Part A.) Indicate by an asterisk, which person ordinarily
places orders. (Not required if the reporting trader is a Futures Commission Merchant registered under the Commodity Exchange Act.) (Use a
continuation sheet if necessary.)
Names

Addresses

Street Address

City

State/Country

Zip/Postal Code

State/Country

Zip/Postal Code

State/Country

Zip/Postal Code

Street Address

City

Street Address

City

PART C
(For Corporations, Associations, Trusts or "Other" Types of Traders Only)
If Corporation. association, trust or ‘other’ is checked as a type of trader in Part A, Item 3.
complete this part of the form.
Name of Reporting Trader (as shown on Part A)________________________________________________________________________________
1 .For firms such as Corporations, Associations, Trusts:
a. Is this firm organized under the laws of any state or other jurisdiction in the United States?

YES

NO

If "no", give the name of the country under whose jurisdiction the reporting trader is organized: ______________________________________________
b. List the names and locations of all parent companies. Indicate whether or not the parents are organized or incorporated under the laws of any state or
other jurisdiction in the United States by checking "yes" or "no". If the reporting trader has no parent organization, indicate "none".
NAME

LOCATION

YES

NO

c. Give names and locations of all subsidiaries, if any, that trade in commodity futures or options. Indicate whether or not each company is organized or
incorporated under the laws of any state or other jurisdiction in the United States by checking "yes" or "no." If no subsidiaries, indicate "none."
NAME
LOCATION
YES NO

2. Is the reporting trader engaged in business activities hedged by use of the futures or option markets?
YES
NO
This would include production. merchandising or processing of a cash commodity, asset/liability risk management, security portfolio risk management.
etc.
If "yes", complete Schedule 1 listing the futures or option contract used, the cash commodity(ies) hedged or the risk exposure covered, and the
marketing occupations associated with hedging uses. (For a definition of hedging, see the instructions for completing Schedule 1.)

3.a. Give name, office address, and business telephone number of person(s) controlling the futures or option trading of the reporting trader. If different
persons are responsible for different commodities, use a continuation sheet to list the information below for each controller and indicate the
commodities for which they are responsible.
Name

Street Address

City

State/Country

Zip/Postal Code

(
)
Business Telephone Number
b. Give name, office address, and business telephone number of person to contact regarding the futures or option trading of the reporting trader.

Name

Street Address

City
(
)
Business Telephone Number

State/Country

Zip/Postal Code

SCHEDULE 1 To be completed only by traders who checked "Yes” to question 3 of part B or question 2 of part C. (1)
Complete each section that pertains to the types of futures/options in which you hedge or cover a risk exposure. (2) List or
check your merchandising or marketing activity(ies). (3) List all futures/option markets used. (4) List all cash commodities
hedged or risk exposure covered. [Use a continuation sheet if necessary.]
List Futures or Option Markets Used. List Cash

FINANCIAL FUTURES/OPTIONS
(e.g., Bonds, Notes, Bills, Eurodollars, Stock Indices & Foreign Currencies)
(Check each activity that you hedge with futures/options)

Markets Hedged or Risk Exposure Covered

FUTURES/OPTION CASH MARKETS
MARKETS USED
HEDGED

ARBITRAGEUR, BROKER/DEALER, MARKET MAKER (A)

U.S. COMMERCIAL BANK (C)

CORPORATE TREASURY (T)

NON-U.S. COMMERCIAL BANK (B)

PENSION FUND (F)

SWAPS/DERIVATIVES DEALER(S)

INSURANCE COMPANY (G)

MORTGAGE ORIGINATOR (M)

HEDGE FUNDS (H)

COLLEGE ENDOWMENT, TRUST, FOUNDATION (D)

MUTUAL FUND (E)

MANAGED ACCOUNTS AND COMMODITY POOLS (P)

OTHER (O): Specify _______________________________________
(e.g., central bank, savings & loan)

AGRICULTURAL AND NATURAL RESOURCE FUTURES/OPTIONS
(Other Than Livestock/Meat)
(Check each commercial activity that you hedge with futures/options)

List Futures or Option Markets Used. List Cash
Markets Hedged or Risk Exposure Covered

FUTURES/OPTION CASH MARKETS
MARKETS USED
HEDGED

PRODUCER (P): Specify ____________________________________
(e.g., farmer, miner)

MANUFACTURER (M): Specify_______________________________
(e.g., refiner, miller, crusher, fabricator, sawmill, coffee roaster, cocoa grinder)

DEALER/MERCHANT (D): Specify___________________________

.

(e.g., wholesaler, exporter/importer, shipper, grain elevator operator,
crude oil marketer)

SWAPS/DERIVATIVES DEALER(S)

OTHER (O): Specify ______________________________________
(e.g., end user, restaurant chain)

LIVESTOCK/MEAT FUTURES/OPTIONS
(Check each commercial activity that you hedge with futures/options)

LIVESTOCK FEEDER (F): Specify
(e.g., cattle feeder, hog feeder, poultry feeder)

LIVESTOCK SLAUGHTERER(S): Specify

OTHER (O): Specify
(e.g., cow/calf operator, meat processor, bacon slicer, warehouseman, restaurant
chain, swaps/derivatives dealer

List Futures or Option Markets Used. List Cash
Markets Hedged or Risk Exposure Covered

FUTURES/OPTION CASH MARKETS
MARKETS USED
HEDGED