[Code of Federal Regulations]
[Title 17, Volume 1]
[Revised as of April 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR19.00]

[Page 327-328]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER I--COMMODITY FUTURES TRADING COMMISSION
 
PART 19_REPORTS BY PERSONS HOLDING BONA FIDE HEDGE POSITIONS PURSUANT TO   
 
Sec.  19.00  General provisions.

    (a) Who must file series '04 reports. The following persons are 
required to file series '04 reports:
    (1) All persons holding or controlling futures and option positions 
that are reportable pursuant to Sec.  15.00(l)(2) of this chapter and 
any part of which constitute bona fide hedging positions as defined in 
Sec.  1.3(z) of this chapter;

[[Page 328]]

    (2) Merchants and dealers of cotton holding or controlling positions 
for futures delivery in cotton that are reportable pursuant to Sec.  
15.00(l)(1)(i) of this chapter, or
    (3) All persons holding or controlling positions for future delivery 
that are reportable pursuant to Sec.  15.00(l)(1) of this chapter who 
have received a special call for series '04 reports from the Commission 
or its designee. Filings in response to a special call shall be made 
within one business day of receipt of the special call unless otherwise 
specified in the call. For the purposes of this paragraph, the 
Commission hereby delegates to the Director of the Division of Market 
Oversight, or to such other person designated by the Director, authority 
to issue calls for series '04 reports.
    (b) Manner of reporting. The manner of reporting the information 
required in Sec.  19.01 is subject to the following:
    (1) Excluding products or byproducts of the cash commodity hedged. 
If the regular business practice of the reporting trader is to exclude 
certain products or byproducts in determining his cash positions for 
bona fide hedging (as defined in Sec.  1.3(z) of this chapter), the same 
shall be excluded in the report. Such persons shall furnish to the 
Commission upon request detailed information concerning the kind and 
quantity of product or byproduct so excluded.
    (2) Cross hedges. Cash positions that represent a commodity or 
products or byproducts of a commodity that is different from the 
commodity for future delivery in which such cash position is being 
hedged shall be shown both in terms of the commodity for future delivery 
and in terms of the cash commodity as provided for on the appropriate 
series '04 form.
    (3) Standards and conversion factors. In computing their cash 
position, every person shall use such standards and conversion factors 
that are usual in the particular trade or that otherwise reflect the 
value-fluctuation-equivalents of the cash position in terms of the 
commodity for future delivery. Such person shall furnish to the 
Commission upon request detailed information concerning the basis for 
and derivation of such conversion factors.

(Approved by the Office of Management and Budget under control number 
3038-0009)

[43 FR 45828, Oct. 4, 1978, as amended at 46 FR 63036, Dec. 30, 1981; 56 
FR 14194, Apr. 8, 1991; 57 FR 41390, Sept. 10, 1992; 62 FR 6114, Feb. 
11, 1997; 62 FR 13301, Mar. 20, 1997; 71 FR 37821, July 3, 2006]