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Introducing More Efficient Tools for Managing Your Financial and Technology Sector Exposure
In response to customer demand, enhanced versions of the Financial and Technology SPCTR Futures --– with increased multipliers and corresponding dollar values of minimum tick sizes to better reflect the current market environment --– will be listed for trading on the CME Globex platform starting July 27, 2009.
Financial SPCTR futures track the S&P 500 Financial Sector Index and offers the same sector exposure as the Financial Select Sector SPDR ETF (XLF).
Technology SPCTR futures track the S&P 500 Information Technology and S&P 500 Telecommunication Sector Indexes, offering the same sector exposure as the Technology Select Sector SPDR ETF (XLK).
Enhancements include:
- Doubling of the contract multiplier size from $125 to $250
- Increasing the dollar value of the minimum tick from $12.50 per contract to $25.00 per contract
- Waived CME Clearing and Globex fees for CME members through December 31, 2009
These contracts offer:
- Efficient, precise tools for hedging price exposure to the Financial sector as well as the Information Technology and Telecom sectors of the benchmark S&P 500 Index
- Nearly 24 hour electronic trading access
- Speed, reliability, price transparency and anonymity of the advanced CME Globex electronic platform
- Substantially mitigated counterparty risk through our centralized clearing model
These contracts will be eligible for block trading (block surcharges will still apply).
| Financial SPCTRS | Technology SPCTRS | |
| First Trade Date | July 27, 2009 | |
| Tick Symbol | FIN FS= Clearing |
TEC TS= Clearing |
| Contract Value | $250 x Financial SPCTR futures price | $250 x Technology SPCTR futures price |
| Tick Size | 0.10 index points = $25.00 Calendar spread: 0.05 index points =$12.50 |
0.10 index points = $25.00 Calendar spread: 0.05 index points =$12.50 |
| Underlying Instrument | S&P 500 Financial sector index | S&P 500 Information Technology and Telecomm sectors indices |
| Listing Cycle | Two months in the March Quarterly Cycle (i.e., Mar, Jun, Sep, Dec) | |
| Hours of Trading (All times listed in Chicago Time) |
Nearly 24-hour Trading on CME Globex SUNDAY 5:00 p.m.– 3:15 p.m. next day MON-THURS 3:30 p.m. - 3:15 p.m. next day with a daily maintenance shutdown from 4:30 p.m.-5:00 p.m. |
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| Last Trade Date/Time | Trading can occur up to 8:30 a.m. on the 3rd Friday of the contract month | |
| Final Settlement | Cash Settlement. All open positions at close of last day of trading are settled in cash to the Special Opening Quotation (SOQ) on Friday a.m. of the S&P 500 Index. See SOQ FAQ | |
| Limits | RTH: Successive 10%, 20%, 30% limits (downside only) ETH (overnight): 5% up or down |
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