• Spot Cheese Product Notice

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5796
      • Notice Date
      • 09 June 2011
      • Effective Date
      • 09 June 2011
    • CME Group has learned that certain cheese, which matches the product description required for sale of block cheese on the CME Spot Call, has been voluntarily withdrawn from the market by the manufacturer because of a product defect.  The manufacturer has advised CME Group that the cheese in question at this time has been accounted for and voluntarily withdrawn from the market. The manufacturer also indicated that the cheese in question is either in its control or in its customers’ direct control and is in the process of being returned to the manufacturer.  The manufacturer further advised CME Group that the affected cheese will be handled appropriately and will not be sold in CME’s Spot Call market.


      Notwithstanding the foregoing, sellers of cheese on the CME Spot Call are responsible for ascertaining that their product is not subject to any hold, withdrawal or recall.  Delivery of product on the CME Spot Call that is subject to a hold, withdrawal or recall will subject the seller to product replacement at the buyer’s request.


      If you have any questions regarding this matter, please contact one of the following individuals in the Market Regulation Department:


      Bill Kokontis, Director, Market Surveillance, 312.435.3665

      Rob Pezold, Sr. Analyst, Market Surveillance, 312.347.5166


      For media inquiries concerning this Advisory Notice, please contact CME Group Corporate Communications at 312.930.3434 or news@cmegroup.com.