Via Portal Submission

May 9, 2023

MGEX Submission No. 23-24

Mr. Christopher Kirkpatrick

Secretary of the Commission

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street NW

Washington, DC 20581

RE: Rule Certification Submission Pursuant to Regulation 40.6(a); Amendments to MGEX Rules

Dear Mr. Kirkpatrick:

Pursuant to Commodity Exchange Act (“CEAct”) Section 5c and Commodity Futures Trading Commission 

(“CFTC” or “Commission”) Regulation 40.6(a), the Minneapolis Grain Exchange, LLC (“MGEX” or 

“Exchange”) hereby certifies that the amendments to MGEX Rule 2.1.11., as set forth in Exhibit A, comply 

with the CEAct and the Commission regulations promulgated thereunder (the “Proposed Amendments”). 

MGEX further certifies that the submission and pending changes to the MGEX Rules have been posted on 

the Exchange website at the following link: http://www.mgex.com/regulation.html.

Overview of Rules Amendments

The Proposed Amendments to the above-referenced Rule provides additional clarity and language updates 

regarding Exchange market maker and incentive programs.

DCM Core Principles

MGEX has reviewed the Core Principles for designated contract markets (“DCM Core Principles”) and 

identified that the Proposed Amendments may impact the following DCM Core Principles:

• DCM Core Principle 2 – Compliance with Rules: The Proposed Amendments provide additional 

clarity and language updates regarding Exchange market maker and incentive programs.

• DCM Core Principle 7 – Availability of General Information: The Proposed Amendments have been 

disseminated on the MGEX website, and will be available in the MGEX Rulebook, which is 

accessible online.

Pursuant to MGEX Bylaw 3.1., the MGEX Board of Directors (“Board”) unanimously approved the Proposed 

Amendments at its meeting held on May 8, 2023. There were no substantive opposing views expressed 

by the Board, nor is the Exchange aware of any substantive opposing views with respect to this filing. The 

Proposed Amendments are to be effective when incorporated into the MGEX Rulebook and posted on its 

website, which will be at least 10 business days following the date of this submission. 

If there are any questions regarding this submission, please contact me at (612) 321-7128 or 

psparby@mgex.com. Thank you for your attention to this matter.
MINNEAPOLIS GRAIN EXCHANGE, LLC

400 South 4th Street | 130 Grain Exchange Building | Minneapolis, MN 55415

612-321-7101

mgex.com

Sincerely,

Peter D. Sparby

Vice President, Counsel

Enclosure
MINNEAPOLIS GRAIN EXCHANGE, LLC

400 South 4th Street | 130 Grain Exchange Building | Minneapolis, MN 55415

612-321-7101

mgex.com

EXHIBIT A

The following MGEX Bylaws and Rules are to be amended. Additions are underlined while deletions 

are marked through.

2.1.11. MARKET MAKER AND INCENTIVE PROGRAMS.

The Exchange may establish a Market Maker Programmarket maker or incentive program (“Program”) for 

any contract or product. There may be more than one Program at the same time for any contract or product. 

The Exchange may begin or end the a Market Maker Program at any time. The Exchange will may 

determine the effective period of the Market Maker any Program and establish the any requirements, 

including application requirements, of the Market Maker Program, which the Exchange may change at any 

time. Any individual or entity that wishes to participate in the Market Maker Program must submit an 

application to the Exchange. The Exchange has sole discretion to approve or deny an applicationa potential 

participant based on, but not limited to, the following factors: the applicant’s business reputation; financial 

resources; and trading activity in relevant futures, options, or related cash markets. Any individual or 

entityparticipant accepted into the Market Makerin a Program must maintain compliance with the Market 

Maker Program’s requirements. Further, any individual or entityparticipant who is participating in the Market 

Maker Program must comply with the CEA, CFTC Regulations, and Exchange MGEX Rules, or other 

relevant authority. The Exchange may, in its sole discretion, remove any individual or entityany participant

from the Market Makerany Program at any time.