• APS processing for BTIC trades starts June 27, 2016

      • To
      • Clearing Member Firms
      • From
      • CME Clearing
      • #
      • 16-199
      • Notice Date
      • 12 May 2016
      • Effective Date
      • 27 June 2016
    • With the recent enhancement to provide intraday and preliminary price updates to the estimated value of the trade price for BTIC (Basis Trade Index Close) trades, we are pleased to announce that BTIC trades will be eligible for CME’s Average Price System (APS) beginning for trade date June 27, 2016.
      APS processing for BTIC trades follows the same current functionality provided for other trades. The only exception with BTIC is that the final trade price is not known at the time of execution. The general principle we are following here is to enable firms to mark the trades for APS after execution, but the APS group that contains BTIC trades cannot be completed until after the settlement price for BTIC is determined. Therefore, APS groups cannot be completed or allocated until the final trade price is determined.

      For more information, please contact CME Clearing at ccs@cmegroup.com or via telephone at:
      Chicago: 1-312-207-2525 │ London: 44-203-379-3198 │ Singapore: 65-6593-5591

      For the full text of the advisory, click here