• Quarterly financial statements through the WinJammer system within 45 days of quarter-end; and

• Monthly net capital computations and the Exchange Supplementary Information schedule for non-quarter month-ends through the WinJammer system within 30 days of month-end. In lieu of monthly net capital computations, clearing members may submit a Form 1-FR or FOCUS Report.

WinJammer will replace the two separate systems currently used by the Exchanges. During its development, the Exchanges solicited comments and suggestions from several joint clearing member firms and consequently, the new application provides numerous improvements over the existing systems.

The CME and CBOT designed WinJammer with the hope that the application would become an industry standard, and as such, reduce the burden on firms in meeting their regulatory requirements. We anticipate that in the near future, firms will be able to submit financial information to other exchanges and regulatory agencies via WinJammer.

The new requirements will enhance the CME�s financial surveillance program in that the Audit Department will receive more timely financial information without placing significant burdens on clearing members (as clearing members are already required to prepare the requested information and many clearing members already submit this information to other regulatory organizations). These changes are incorporated into the attached amendment to Rule 970 and are effective with financial statements dated after June 1, 1996.

If you have any questions, please contact the Audit Department at (312) 930-3230.

Financial Statement Filing Requirements Rule Change

970. Financial Requirements. -

C. In conjunction with the requirements set forth in CFTC Regulations 1.10, 1.12, 1.17, and 1.18, clearing members must comply with the following requirements:

1.	Submit a quarterly Form 1-FR or FOCUS Report within forty-five (45) days after the close of the clearing member�s fiscal quarter, including an unaudited quarterly Form 1-FR or FOCUS Report within forty-five (45) days after the close of the clearing member�s fiscal year. A clearing member must include with its Form 1-FR or FOCUS Report a Statement of Income (Loss) for the period between the date of the most recent financial statement or, at the option of the clearing member, the most recent certified financial statement filed with the Audit Department and the date for which the report is made.
2.	Submit a monthly net capital computation and the Exchange Supplementary Information schedule for non-fiscal quarter month-ends within thirty (30) days of month-end. In lieu of a monthly net capital computation, clearing members may submit a Form 1-FR or FOCUS Report.
3.	Submit a certified Form 1-FR or FOCUS Report within ninety (90) days after the close of the clearing member�s fiscal year. A clearing member must include with its certified Form 1-FR or FOCUS Report, a reconciliation from the certified Form 1-FR or FOCUS Report to the quarterly Form 1-FR or FOCUS Report as of the same date.

E. Financial statement filing requirements under this Rule must be met through Exchange approved electronic transmissions, except for certified Form 1-FRs or FOCUS Reports.

Personal Identification Numbers (PINs) must be submitted by authorized signers of the Form 1-FR or FOCUS Report. The PIN will constitute and become a substitute for the manual signature of the authorized signer to the electronically filed Form 1-FR or FOCUS Report. The PIN is a representation by the authorized signer that, to the best of his or her knowledge, all information contained in the statement being transmitted under the PIN is true, correct and complete.

[Remainder of Rule 970 unchanged]

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