Commodity index contract.
(3) Commodity index contract. For purposes of the referenced contract definition in 150.1, a commodity index contract means an agreement, contract, or transaction that is based on an index comprised of prices of commodities that are not the same or substantially the same, and that is not a location basis contract, a calendar spread contract, or an intercommodity spread contract as such terms are defined in this guidance, where:
Source
17 CFR § C_to_part_150
Scoping language
This appendix C provides guidance regarding the referenced contract definition in 150.1, which provides in paragraph of the definition of referenced contract that the term referenced contract does not include a location basis contract, a commodity index contract, a swap guarantee, a trade option that meets the requirements of 32.3 of this chapter, a monthly average pricing contract, or an outright price reporting agency index contract. The term referenced contract is used throughout part 150 of the Commission's regulations to refer to contracts that are subject to Federal position limits. A position in a contract that is not a referenced contract is not subject to Federal position limits, and, as a consequence, cannot be netted with positions in referenced contracts for purposes of Federal position limits. This guidance is intended to clarify the types of contracts that would qualify as a location basis contract, commodity index contract, monthly average pricing contract, or outright price reporting agency index contract.