• Trading Locations of Intermarket Spreads

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • RA1303-1
      • Notice Date
      • 28 May 2013
      • Effective Date
      • 10 June 2013
    • Pending all relevant regulatory review periods, this Advisory Notice will supersede CBOT Market Regulation Advisory Notice RA1002-1 from April 1, 2010, and will become effective on June 10, 2013. 
      It is being reissued to provide updated information on the location for open outcry trading of intermarket spreads in CBOT products on the trading floor.
      Please note that the following intermarket spreads may be executed on the trading floor only by eligible members.
      The following trading and reporting locations for CBOT financial futures are applicable only during the contract rollover time period as described in today’s release of CBOT RA1304-1. Outside of the rollover time period, members are allowed to bid, offer and trade any Treasury or Swap futures contract from any area of the Treasury futures pit provided that bids and offers originating outside of a particular contract’s trading area are vocally and openly represented in a manner that is clearly transparent to the area of the pit where the product trades.
      Spread                                                                        Trading/Reporting Location
      Fed Funds/2-Year Note                                                              Fed Funds pit
      2-Year Notes/Ultra T-Bond                                                         2-Year Note section
      2-Year Note/T-Bond                                                                   2-Year Note section
      2-Year Note/10-Year Note                                                          2-Year Note section
      2-Year Note/5-Year Note                                                            2-Year Note section
      3-Year Notes/Ultra T-Bond                                                         2-Year Note section
      3-Year Note/T-Bond                                                                  2-Year Note section
      3-Year Note/10-Year Note                                                         2-Year Note section
      3-Year Note/5-Year Note                                                            2-Year Note section
      5-Year Note/Ultra T-Bond                                                          5-Year Note section
      5-Year Note/T-Bond                                                                  5-Year Note section
      5-Year Note/10-Year Note                                                          5-Year Note section
      10-Year Note/Ultra T-Bond                                                         10-Year Note section
      10-Year Note/T-Bond                                                                 10-Year Note section
      10-Year Note/T-Bond Tandem                                                   10-Year Note section
      T-Bond/Ultra T-Bond                                                                  T-Bond section
      5/7/10/30-Year Swaps/any Treasury Futures*                               Swaps section
      5/7/10/30-Year Swaps/Fed Funds                                               Swaps section
      These spreads may be traded only in the designated areas at all times and must be reported to the appropriate Trading Floor Operations staff.
      Spread                                                                           Trading/Reporting Location
      Options/Underlying future                                                          Relevant options pit
      T-Bond Options/any Treasury Future*                                         T-Bond Options pit       
      10-Year Note Options/any Treasury Future*                                 10-Year Options pit
      10-Year Note Options/T-Bond Options                                        10-Year Options pit
      5-Year Note Options/any Treasury Future*                                   5-Year Options pit
      5-Year Note Options/10-Year Note Options                                 5-Year Options pit
                  5-Year Note Options/T-Bond Options                                         5-Year Options pit
                  2-Year Note Options/any Treasury Future*                                   2-Year Options pit
      2-Year Note Options/5-Year Note Options                                   2-Year Options pit
      2-Year Note Options/10-Year Note Options                                 2-Year Options pit
      2-Year Note Options/T-Bond Options                                         2-Year Options pit
      Ultra Bond Options/Any Treasury Options*                                                                   T-Bond Options pit
      * Treasury Futures include T-Bonds, Ultra Bonds, 10-Year Notes, 5-Year Notes, 3-Year Notes and 2-Year Notes. 
      These spreads may be traded only in the designated areas at all times and must be reported to the appropriate Trading Floor Operations staff.
      Spread                                                                        Trading/Reporting Location
      Soybean Crush                                                   Bridge between Oil/Meal pits (report in Oil)
      Meal/Oil                                                              Bridge between Oil/Meal pits (report in Oil)
      Soybeans/Meal                                                    Bridge between Oil/Meal pits (report in Oil)
      Soybeans/Oil                                                       Bridge between Oil/Meal pits (report in Oil)
      Meal/Corn                                                                                 Meal pit
      Spread                                                                        Trading/Reporting Location
      Corn/Soybeans                                                                         Soybean pit
      Wheat/Soybeans                                                                       Wheat pit
      Wheat/Corn                                                                               Wheat pit
      Wheat/Oats                                                                               Wheat pit
      Corn/Oats                                                                                 Corn pit
      Soybeans/Mini Soybeans                                                          Soybean pit
      Corn/Mini Corn                                                                          Corn pit
      Wheat/Mini Wheat                                                                      Wheat pit
      Spread                                                                        Trading/Reporting Location
      Bean Options/Meal Options/Oil Options                                     Meal/Oil Options pit
      Meal Options/Oil Options                                                           Meal/Oil Options pit
      Soybean Options/Corn Options                                                 Soybean Options pit
      Wheat Options/Corn Options                                                     Wheat Options pit
      Wheat Options/Soybean Options                                               Wheat Options pit
      Oil Options/Soybean Options                                                    Oil Options pit
      Meal Options/Soybean Options                                                 Meal Options pit
      Meal Options/Corn Options                                                        Meal Options pit
      Oat Options/Corn Options                                                         Oat Options pit
                  Wheat-Corn Intercommodity Spread Options                              Wheat Options pit
                  Soybean-Corn Price Ratio Options                                             Soybean Options pit
                  MGEX-CBOT Wheat Spread Options                                          Wheat Options pit
      Questions regarding this advisory may be directed to the following individuals:
      Robert Boruski, Senior Director, Trading Floor Operations, 312.347.5427
      Renea Burton, Senior Director, Trading Floor Operations, 312.341.3143
      For media inquiries concerning this Advisory Notice, please contact CME Group Corporate Communications at 312.930.3434 or news@cmegroup.com.