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.

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