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***********New Settlement Methodology effective date October 15, 2018 Pending Regulatory Review************ 

Normal Daily Settlement Procedure

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Tier 4: If the settlement price in a deferred month created by using the “net change” method described above violates a bid or an offer in a calendar spread or in the deferred month itself that could otherwise be honored, the settlement price for that deferred month will be adjusted to honor that bid or offer. If not all spread bids or offers can be honored in this way, precedence will be given to the tightest bid/ask markets.

If you have any questions, please call the CME Global Command Center.

COMEX Aluminum Futures Daily Settlement Procedure

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Tier 2: If there is no VWAP, then the last trade price is checked against the 12:00:00 ET bid/ask.

1. If the last trade price is outside of the bid/ask spread, then the contract settles to the nearest bid or ask price.

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Tier 1: All months other than the designated lead month will settle based upon the VWAP of calendar spread transactions executed on CME Globex between 11:30:00 - 12:00:00 ET.

Tier 2: In the absence of a VWAP of calendar spread transactions the net change of the previous contract month will be applied to determine the contract’s settlement price. If the settlement price in a deferred month created by using the “net change” method described above violates a bid or an ask in a calendar spread or in the deferred month itself that could otherwise be honored, the settlement price for that deferred month will be adjusted to honor that bid or ask.

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Settlement Disclaimer and Contact
Settlement Disclaimer and Contact