• Block Trades

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • CME Group RA1613-5R
      • Notice Date
      • 16 November 2016
      • Effective Date
      • 01 December 2016
    • This Advisory Notice supersedes CME Group RA1613-5 from October 25, 2016. It is being issued in response to a request from the CFTC to amend the term “fiduciary responsibility” to “pre-existing duty” in the third paragraph of Section 12 concerning the use of nonpublic information with respect to block trades. The CFTC determined that the term pre-existing duty comported more closely with language contained in the Commission’s final rules under Part 180 published in the Federal Register on July 14, 2011 (17 CFR Part 180 RIN Number 3138-AD27). In those final rules, the Commission determined that trading on the basis of material nonpublic information in breach of a pre-existing duty (established by another law or rule, or agreement, understanding, or some other source) may be in violation of Rule 180.1.

      Click HERE to view full advisory.