On August 25, 2014, this Advisory Notice will supersede CME Group Market Regulation Advisory Notice RA1403-5 from May 23, 2014. It is being issued based on changes to CME and CBOT Rule 539.C. concerning pre-execution communications.
Pending all relevant regulatory review periods, effective on Sunday, August 24, 2014, for trade date Monday, August 25, 2014, the waiting time period between the entry of a Request for Quote (“RFQ”) and a Request for Cross (“RFC”) in CME and CBOT interest rate options will be increased from five (5) seconds to 15 seconds.
Please refer to pages 9 – 12 for the complete texts of each Exchange’s Rule 539.
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