(This SER supersedes SER 7598 dated March 4, 2016 and is being issued to include amendments CME Chapter 382 (“E-mini Nifty 50 Index Futures”) which were inadvertently omitted. No other changes have been made to the original SER.)
Effective Sunday, March 20, 2016 for trade date Monday, March 21, 2016, Chicago Mercantile Exchange, Inc. (“CME”) and The Board of Trade of the City of Chicago, Inc. (“CBOT”) (collectively, the “Exchanges”) will amend the Equity Index Futures and Options contracts (the “Contracts”) listed in below.
More specifically, the rule amendments will reduce the limit-bid/limit-offer monitoring interval, preceding the daily opening of trading on US primary listing exchanges to two (2) minutes (8:23 a.m. to 8:25 a.m. Chicago time (CT)) from the ten (10) minutes (8:15 a.m. to 8:25 a.m. CT). Similarly, the limit-bid/limitoffer monitoring interval incorporated into implementation of the price limit methodology for Contracts will be reduced to two (2) minutes from ten (10) minutes. The amendments are intended to more closely align the price limits for the Contracts with the primary securities market circuit breakers that trigger U.S. equity market market-wide trading halts.
Also at this time, the Exchanges are also implementing other harmonizing and administrative amendments to Contracts. These amendments will, in no manner, impact the economic value of the Contracts. The CME and CBOT rulebook chapters are provided in blackline format and can be found here.
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.