Following the insolvency of PFGBest, CME Group has been accepting applications from farmers, ranchers and agricultural co-operatives to register for benefits under the CME Group Family Farmer & Rancher Protection Fund.
In order for CME to begin paying benefits to qualifying customers under this Fund, Applications must be received by the close of business at 5:00pm Central Time, Friday, October 5, 2012. Following the October 5 deadline, CME Group expects to pay benefits to qualifying customers in the fourth quarter of this year. The following requirements apply to be considered for benefits:
- The applicant must be a farmer, rancher or agricultural coop and must complete the application for the registration available on CME Group's website.
- The applicant must submit photocopies of appropriate tax documentation along with the application, as described in the application's instructions.
- The applicant must have held one or more positions in CME Group agricultural products covered by the program during the six months between January 9 and July 6, 2012, and must submit a copy of a PFGBest statement showing the qualifying position(s).
Members or customers may submit any questions to CME Group at famlyfarmerfund@cmegroup.com. The application and other information about the program can be found at http://www.cmegroup.com/clearing/family-farmer-fund.html.
