ACTION: Direxion Daily Financial Bull 3X Shares (“FAS”) has announced a 1-for-5 reverse stock split. As a result of the reverse stock split, each FAS Share will be converted into the right to receive .2 (New) Direxion Daily Financial Bull 3X Shares. The reverse stock split will become effective prior to the open of business on July 9, 2009.
This action will be coordinated with the Options Clearing Corporation.
CATEGORY: 1 for 5 Reverse Stock Split
EQUITY SYMBOL: Direxion Daily Financial Bull 3X Shares (“FAS”)
ONECHICAGO SYMBOL: FAS1C will change to FAS2C. A new FAS1C with a contract unit of 100 shares will be introduced on Friday, July 10, 2009.
CME FUTURES SYMBOL: FA9 for the FAS1C; FA7 for the FAS2C
NUMBER OF CONTRACTS: Unchanged
EFFECTIVE DATE: July 9, 2009
MULTIPLIER: 100; Unchanged
DELIVERABLE PER CONTRACT: FAS2C: 20 Direxion Daily Financial Bull 3X Shares (“FAS”)
FAS1C: Will be re-listed with a 100 share deliverable.
APPLICABLE CONTRACT MONTHS: July, August, September, December 2009
SETTLEMENT PRICES AND POSITIONS: The underlying price for the deliverable futures must be calculated, as follows:
FAS2C = .20 (FAS)
NOTES: The forecasted effect of the upcoming corporate event on each clearing firms’ positions can be viewed in infopac in the Corporate Event Initial Forecast Report (ONE712), the Corporate Event Final Forecast Report (ONE713), and the Corporate Event Forecast Audit Report (CPDBU710).
If you have any questions regarding the information provided in the document, please call CME Clearing risk management hotline at (312) 648-3888.