Edmund R. Schroeder

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Edmund R. Schroeder
Occupation Lawyer
Employer Cadwalader, Wickersham & Taft LLP

Edmund R. Schroeder is an attorney, formerly with Cadwalader, Wickersham & Taft LLP, who concentrated in commodity law and regulation. His clients have included futures commission merchants, banks and bank affiliates, commodity trading advisors, commodity pool underwriters, firms with floor brokerage operations and trade houses engaged in both futures and physicals businesses, as well as futures and securities exchanges and clearing organizations. He has drafted rules for many exchanges and clearing corporations and in some cases written entire rule books.

On March 12, 2009, Schroeder was inducted into the Futures Hall of Fame, which was established in 2005 to commemorate outstanding contributions to the global futures and options community.[1]

Background

Schroeder represented the Coffee, Sugar & Cocoa Exchange (CSCE) and the Commodity Futures Clearing Corporation of New York (CFCCNY), which cleared for the CSCE. After CSCE merged with the New York Cotton Exchange to form the New York Board of Trade (NYBOT), he continued to represent the surviving entity, now known as ICE Futures U.S. Inc.

In the early 1980s, he was retained by the New York Stock Exchange to assist in the creation of the New York Futures Exchange (NYFE). Shortly thereafter, he was appointed outside general counsel to New York Futures Clearing Corporation, the clearing corporation for NYFE, which was subsequently dissolved when NYFE transferred its clearing function to the Intermarket Clearing Corporation in Chicago.

He engaged in special projects for the Commodity Exchange (COMEX), the New York Mercantile Exchange (NYMEX) and the American Stock Exchange. He also represented the International Petroleum Exchange (IPE) and the Singapore International Monetary Exchange (SIMEX) in New York City, advising them on tax and legal considerations related to establishing offices in the United States.

In 1975 and 1976, he served on an advisory committee to the Commodity Futures Trading Commission (CFTC) and has testified before Congress on commodity-related subjects. In 1976 he organized what is now called the Committee on Futures Regulation of The Bar Association of the City of New York and served as its chairman until 1981, when he was appointed chairman of what is now called the Committee on Futures Regulation of the American Bar Association. He served in that office until July of 1985.

In the area of insolvency law, he was counsel to the receiver in proceedings brought by the Commodity Futures Trading Commission against Volume Investors Corp., a futures commission merchant that was rendered insolvent because of losses incurred in the gold options market. He was also a receiver for X-Cel Commodities Corp. in an action before the United States District Court for the Southern District of New York. He worked extensively in the formulation of the provisions in the Bankruptcy Code relating to the bankruptcy of commodity brokers and testified before Congress on the subject.

Schroeder has lectured, conducted seminars and participated in panel discussions on commodities regulation for the Practicing Law Institute, the Chicago Kent College of Law, Columbia Law School, Columbia Business School, the New School and other organizations. In addition he has contributed a number of articles to legal and trade publications on various aspects of commodities regulation.

From time to time, he has acted as an arbitrator for the American Arbitration Association and the National Futures Association (NFA). He has served as a member of the Scarsdale Board of Education and was co-founder and first Chairman of the Board of Education Through Music, Inc. He has also served on the Board of the Orchestra of St. Luke’s and has been active in various other civic and charitable capacities.


Education

Harvard Law School, LL.B. 1958 [2]

References

  1. FIA Announces Inductees to Futures Hall of Fame. Futures Industry Association.
  2. Justia Legal Services & Lawyers. Justia.