Dairy Futures Pre-Execution Contact Directory

What are Pre-Execution Communications?

Pre-execution communications are communications between market participants for the purpose of discerning interest in the execution of a transaction prior to the exposure of the order to the market.

Any communication that involves discussion of the size, side of market or price of an order, or a potentially forthcoming order constitutes a pre-execution communication.

Transactions that result from pre-execution communications must be entered into the competitive venue CME Globex following specific steps based on the product that they are executed in. For a list of the required steps:

View the Market Regulation Advisory Notice.

Resources

Contact Us

CME Dairy Team

Key Points

  • Allows market participants to execute trades when market liquidity is not evident
  • Find a counter-party to take the opposite side of a large trade
  • Pre-ex discussions can be used for executing both individual months as well as strips.
  • Interested parties are contacted to determine interest in taking the opposite side of a trade and given information on the price, volume, or direction.
  • If a counter-party is identified for a futures trade, the party that initiated the communication enters the futures trade into Globex. After 5 seconds, the counter-party can enter their side of the trade.
  • Pre-execution rules for options are different. Please reference the Market Regulation Advisory Notice for more details.

Pre-Execution Contacts

Firms that have agreed to accept calls or emails related to pre-execution futures communications in the markets indicated:

Firm Name Firm Type Contact Class III Milk Cheese Dry Whey Class IV Milk Butter Nonfat Dry Milk
Agri-Dairy Products, Inc Commercial Frank Reeves Jr.
+1 914 697 9580		            
Atten Babler Commodities LLC Broker Will Babler
+1 815 777 1129		            
CSC Arbitrage Group Liquidity Provider Sam Johnson
+1 612 330 9113		            
Dairy Products Inc. Commercial Dan Trewin
+1 877 464 6455		            
DairyVisor Inc. Broker Joe Spader
+320 634 3771		            
Darigold, Inc. Commercial David Dines
+1 206 286 6713		            
Ever.Ag Dairy Broker Brian Fletcher
+1 312 492 4244		            
Fonterra Co-operative Group Limited Commercial Conor Steffey
+64 21 024 67417		            
Gressel Produce Liquidity Provider Art Gressel
+1 512 358 6224		            
HighGround Trading LLC Broker Eric Meyer
+1 312 604 3080		            
Hoogwegt US Commercial Adnan Mikati
+1 847 964 0062		            
Interfood Inc Commercial Michiel Beukers
+598 95 482 171		            
Maize Capital Group LLC Liquidity Provider Michael Sklut
+1 248 756 3150		            
Stag Securities Broker Alberto Marconi
+1 312 239 3137		            
StoneX Financial Inc. Broker Kyle Schrad
+1 312 456 3609		            
TC Jacoby Commercial Dennis Downing
+1 314 822 5961		            
Wells Fargo Bank Ryan Moffett
+1 832 941 4271		            

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2024 CME Group Inc. All rights reserved.