If you're keen to see how Figured's Milk Price Protection could serve your farm, here are the steps to follow:
How To Get Started
Head to Milk Price Protection via the navigation pane.
Using the Calculator
Explore your options and calculate what Milk Price Protection could look like for your farm, including estimated premiums. The total milk production and total costs will be pre-populated based on your date settings, however these can be edited as required.
Simply adjust the price at which you wish to protect your income, and the ratio of production you choose to protect. The pricing breakdown will also calculate the one-off premium amount required to fix your milk price.
The Revenue Projection tab helps you visualise how milk price protection will affect your plan.
Premium Pricing
The StoneX Live Pricing section shows the current pricing set by StoneX and is regularly updated in Figured. The Buy amount displays the amount you pay for the premium to lock in that price. As prices are constantly updating the price you see could be different to price you end up buying at.
Premium Calculation = Buy Price * (Total Production * Production Ratio)
Application Form
After discussing your strategy and confirm the milk solids you'd like to protect with your financial advisor you can create an account by filling in the application form
Complete the application with StoneX directly through Figured Milk Price Protection tab. If you need assistance at any point during the application process please message the green chat bubble and we will be happy to give you a call.
If you need to pause the application at any point you can return to where you left off
Please note: Figured cannot assist you with any financial advice on the milk price or protection rate and will always recommend you speak to your advisor.
Application Form Glossary
These are selected summaries of the defined terms provided to assist you with the completion of the application form.
For further detail please refer to the OECD Common Reporting Standard for Automatic Exchange of Financial Account InformationCRS), the
associated Commentary to the CRS, the IRS FATCA Regulations and/or domestic legislation and guidance.
If you have any questions please contact your tax adviser or domestic tax authority.
Term | Definition |
Tax Residence | Each jurisdiction has its own rules for defining tax residence. Generally, an Entity will be resident for tax purposes in a jurisdiction if, under the laws of that jurisdiction (including tax conventions), it pays or should be paying tax therein by reason of its domicile, residence, place of management or incorporation, or any other criterion of a similar nature, and not only from sources in that jurisdiction. Dual resident Entities may rely on the tiebreaker rules contained in tax conventions (if applicable) to solve cases of double residence for determining their residence for tax purposes. An Entity such as a partnership, limited liability partnership or similar legal arrangement that has no residence for tax purposes shall be treated as resident in the jurisdiction in which its place of effective management is situated. |
Tax Identification Number (TIN) | The term “TIN” means Taxpayer Identification Number (or functional equivalent in the absence of a Taxpayer Identification Number). |
Functional Equivalent of “TIN” | A Functional Equivalent could be but is not limited to social security numbers, national insurance numbers, social insurance numbers, resident registration numbers, or personal identification codes. |
Specified U.S. Person | A “Specified U.S. Person” is a U.S. Person, other than (i) a corporation the stock of which is regularly traded on one or more established securities markets; (ii) any corporation that is a member of the same expanded affiliated group... (and several other exceptions related to publicly traded companies, government entities, tax-exempt organizations, financial institutions, etc.) |
U.S. Person | The term “U.S. Person” means a U.S. citizen or resident individual, a partnership or corporation organized in the United States or under the laws of the United States or any State thereof, a trust if (i) a court within the United States would have authority... (and other criteria related to control of the trust), or an estate of a decedent that is a citizen or resident of the United States. |
Reporting Financial Institution | The term “Reporting Financial Institution” means any Financial Institution that is not a Non-Reporting Financial Institution. |
Financial Institution | The term “Financial Institution” means a “Custodial Institution”, a “Depository Institution”, an “Investment Entity” or a “Specified Insurance Company”. |
Custodial Institution | The term “Custodial Institution” means any Entity that holds, as a substantial portion of its business, Financial Assets for the account of others. |
Depository Institution | The term “Depository Institution” means any Entity that accepts deposits in the ordinary course of a banking or similar business. |
Investment Entity (FATCA specific) | The term “Investment Entity” means any entity that conducts as a business (or is managed by an entity that conducts as a business) one or more of the following activities or operations for or on behalf of a customer: 1. trading in money market instruments... 2. individual and collective portfolio management; or 3. otherwise investing, administering, or managing funds or money on behalf of other persons. |
Investment Entity (CRS) | The term “Investment Entity” means any Entity: 1. that primarily conducts as a business one or more of the following activities... or 2. the gross income of which is primarily attributable to investing, reinvesting, or trading in Financial Assets, if the Entity is managed by another Entity that is a Depository Institution, a Custodial Institution, a Specified Insurance Company, or an Investment Entity. |
Investment Entity located in a Non-Participating Jurisdiction and managed by another Financial Institution | The term “Investment Entity located in a Non-Participating Jurisdiction and managed by another Financial Institution” means any Entity the gross income of which is primarily attributable to investing, reinvesting, or trading in Financial Assets if the Entity is: 1. managed by a Financial Institution; and 2. not a Participating Jurisdiction Financial Institution. |
Specified Insurance Company | The term “Specified Insurance Company” means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract. |
Non-Reporting Financial Institution | The term “Non-Reporting Financial Institution” means any Financial Institution that is: 1. a Governmental Entity, International Organisation or Central Bank... 2. a Broad Participation Retirement Fund... 3. any other Entity that presents a low risk of being used to evade tax... 4. an Exempt Collective Investment Vehicle; or 5. a trust... |
Non-Reporting Financial Institution (FATCA specific) | The term “Non-Reporting Financial Institution” means any Partner Jurisdiction Financial Institution, or other entity resident in a Partner Jurisdiction that is identified in Annex II as a Non-Reporting Financial Institution or that otherwise qualifies as a deemed-compliant FFI, an exempt beneficial owner, or an excepted FFI under relevant U.S. Treasury Regulations. |
Non-Participating Financial Institution (FATCA specific) | A Non-Participating Financial Institution (NPFI) is a Financial Institution that is not FATCA compliant. |
Non-Financial (Foreign) Entity | An “Non-Financial (Foreign) Entity” is any Entity that is not a Financial Institution. |
Active Non-Financial Foreign Entity (FATCA specific) | An “Active NFFE” means any NFFE that meets any of the following criteria: 1. Less than 50 percent of the NFFE’s gross income... is passive income... 2. The stock of the NFFE is regularly traded... (and several other criteria related to the nature of the business, government ownership, etc.) |
Active Non-Financial Entity (CRS specific) | The term “Active NFE” means any NFE that meets any of the following criteria: 1. less than 50% of the NFE’s gross income... is passive income... 2. the stock of the NFE is regularly traded... (and several other criteria similar to FATCA, with some variations) |
Passive Non-Financial (Foreign) Entity | A “Passive Non-Financial (Foreign) Entity ” means any Non-Financial (Foreign) Entity that is not an Active Non-Financial (Foreign) Entity. Under CRS this also includes Investment Entity located in a Non-Participating Jurisdiction that is managed by another Financial Institution. |
GIIN | A “Global Intermediary Identification Number” (GIIN) is a number assigned by the FATCA Registration System to Financial Institutions and direct reporting non-financial foreign entities. |
Controlling Persons | The term “Controlling Persons” means the natural persons who exercise control over an Entity. In the case of a trust... and in the case of a legal arrangement other than a trust... The term “Controlling Persons” must be interpreted in a manner consistent with the Financial Action Task Force Recommendations. |