On June 18, 2010 in Clearing Advisory 10-259 and July 30, 2010 in Clearing Advisory 10-320, we published details of changes to final settlement dates for certain NYMEX cash-settled futures and options.
In brief, the final settlement day had been the fifth business day following the last day of trading. With the change, the final settlement date was moved up to the second business day. This allows the position to be closed out, and the initial margin requirement released, significantly earlier than previously.
Previously, we made this change only for the June, July and August contracts. Now, effective this Monday August 30, we are making the corresponding change for the contracts from September on out.
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