This revised Special Executive Report supersedes SER-7351 issued on May 4, 2015. It is being issued based on a decision to delay permitting the pricing of block trades in the first two active contract months of Copper futures at the settlement price or any valid price increment ten ticks higher or lower than the settlement price pursuant to the provision of Commodity Exchange Inc. (“COMEX”) Rule 524 (“Trading at Settlement (“TAS”), Trading at Marker (“TAM”) and Matched Order (“MO”) Transactions”) until July 6, 2015.
As previously notified, effective Sunday, May 17, 2015 for trade date Monday, May 18, 2015, and pending all relevant CFTC regulatory review periods, COMEX will implement the following amendments:
· The addition of the second active contract month in Copper futures executed on CME Globex to be eligible to be priced at the settlement price or any valid price increment ten ticks higher or lower than the settlement price pursuant to the provisions of Rule 524; and
· The reduction of the Copper futures block trade minimum threshold from 25 to 5 contracts for all inactive contract months and for each active month when it becomes the spot month.
For more information regarding TAS, TAM and MO Transactions, please see the current Market Regulation Advisory Notice (MRANs) which may be found via the following link:
Questions regarding this notice may be directed to:
Joann Arena +1 212 299 2356 Joann.Arena@cmegroup.com
Youngjin Chang +1 312 466 4637 Youngjin.Chang@cmegroup.com
Fred Penha +1 212 299 2353 Fred.Penha@cmegroup.com
Sandra Ro +44 203 379 3789 Sandra.Ro@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.
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.