Agricultural Marketing Service September 9, 2013 – Federal Register Recent Federal Regulation Documents

Cotton Futures Classification: Optional Classification Procedure
Document Number: 2013-21658
Type: Proposed Rule
Date: 2013-09-09
Agency: Agricultural Marketing Service, Department of Agriculture
The Agricultural Marketing Service (AMS) proposes regulatory amendments that would allow for the addition of an optional cotton futures classification procedureidentified and known as ``registration'' by the U.S. cotton industry and the Intercontinental Exchange (ICE). In response to requests from the U.S. cotton industry and ICE, AMS proposes to offer a futures classification option whereby cotton bales may be certificated for the purpose of an exchange's cotton futures contract using Smith-Doxey data to verify that submitted bales meet more restrictive quality requirements and age parameters established by that exchange. The implementation of ICE's Cotton Resolution No. 2 is scheduled to commence with the March 2014 contract month. It is anticipated that AMS would make the futures classification option available December 2013.