This Advisory Notice addresses the CBOT agricultural futures expiration procedures that will be implemented on Friday, April 23, 2010, as described below.
On option expiration days (including Crush option expiration days), when the lead futures contract month is not the expiring month, both the lead month and the expiring month in the pit settled contracts will settle based on outright activity during the closing period. These procedures will not apply to Rough Rice futures and Wheat futures which settle based on CME Globex activity.
This change will allow members active in CBOT agricultural options to gauge the settlement price of the futures contracts based on outright activity rather than having the expiring month futures settlement price determined with reference to a spread relationship.
Questions regarding this advisory may be directed to the following individuals:
David Kempes, Associate Director, Trading Floor Operations, 312.341.3107
Barry Schauer, Lead Trading Floor Investigator, Market Regulation, 312.341.7640
For media inquiries concerning this Advisory Notice, please contact CME Group Corporate Communications at 312.930.3434 or firstname.lastname@example.org.
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.