Under CME Rule 701 (Declaration of Force Majeure), CME has previously authorized a change in final settlement procedures for October 2013 Lean Hogs futures and options contracts (see SER-6867 dated October 7, 2013). Since USDA price reporting of the relevant data was not available for both October 11 and 14 by October 15, 2013, final settlement for October 2013 Lean Hog futures and options contracts was calculated using the volume weighted average price of the October 2013 futures contract for trades occurring during the 2-day period of October 11 and 14, 2013, incorporating both Floor-based and Globex-based trading activity during Regular Trading Hours only (9:05 a.m. to 1:00 p.m. on October 11 and 9:05 a.m. to 12:00 noon on October 14).
The final settlement price for October 2013 Lean Hogs futures and options contracts based on the procedure described above is 90.62. This final settlement price will be applied to any open positions in October 2013 futures and options on the normally scheduled date of October 16, 2013.
Should you have any questions regarding this Special Executive Report, please contact one of the following individuals Jack Cook, Director, Commodity Research and Product Development, 312-930-3295, Jack.Cook@cmegroup.com or David Lehman, Managing Director, Commodity Research and Product Development, 312-930-1875, David.Lehman@cmegroup.com.
For media inquiries concerning this Special Executive Report, please contact CME Group Corporate Communications at 312-930-3434 or firstname.lastname@example.org.