Chicago Mercantile Exchange

Clearing House Advisory Notice

99-77

August 31,1999

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## IMPORTANT MEMORANDOM

TO: Clearing Member Firms

Attention: Chief Financial Officers

Back Office Managers

FROM: Clearing House Department

SUBJECT: CLEARING HOUSE HOLIDAY SCHEDULE – LABOR DAY

Monday, September 6, 1999, U.S. Banks will be closed in observance of Labor Day, the CME will be closed on Monday, September 6, 1999. SIMEX will be open.

# A. INTRA-DAY VARIATION AND PERFORMANCE BOND SCHEDULE

The Clearing House will not process Intra-Day Variation and End of Day cycle performance bond calls and releases on Monday, September 6, 1999.

B. MONEY CHANGER DEADLINES /RATES

The CME MoneyChanger Service will be available until 11:59:54 a.m. on Friday, September 3, 1999. Any orders to buy or sell foreign currency entered after 12:00 p.m. Friday, September 3, and before 1:59:54 p.m. on Tuesday, September 7, 1999, will be executed on Tuesday, September 7, 1999, at rates of 2:00 p.m.

# C. MONEYCHANGER VALUE DATES

Due to the U.S. bank holiday effects on transaction processing, please note the following adjustments to the value dates for MoneyChanger transaction:

Trade Date Value Date

Friday, September 3, 1999 Tuesday, September 7, 1999

Monday, September 6, 1999, MoneyChanger is closed.

# D. DEPOSITS OF PERFORMANCE BOND COLLATERAL

The U.S. bank holiday will prevent the posting of transactions dated September 6, 1999. Due to the U.S. bank holiday you will be unable to deposit additional collateral or withdraw excess collateral.

# E. FOREIGN CURRENCY PERFORMANCE BOND CASH WITHDRAWALS

Due to the U.S. holiday’s effects on transaction processing, please note the following adjustments to value dates on foreign currency performance bond cash withdrawals:

Request Date Value Date

Friday, September 3, 1999 Tuesday, September 7, 1999

# F. FOREIGN CURRENCY SETTLEMENT VARIATION

Due to U.S. bank holiday’s effects on transaction processing, please note the following adjustments to the value dates for foreign currency settlement variation.

Trade Date Value Date

Thursday, September 2, 1999 Tuesday, September 7, 1 999

Friday, September 3, 1999 Wednesday, September 8, 1 999

# G. A.M. SETTLEMENT CONFIRMATIONS

Although the U.S. banks are closed on Monday, September 6, 1999, your settlement bank will still provide an a.m. settlement confirmation for both U.S. dollar and foreign currency transactions by 6:40 a.m. on Tuesday, September 7, 1999. Payment for the U.S. dollar settlement transactions will occur on Tuesday, September 7, 1999.

# H. INTEREST EARNING FACILITY (IEF)

Due to the U.S. bank holiday’s effect on transaction processing, please note the following adjustments to the IEF processing.

IEF settlement elections for Friday, September 3, 1999, ITD cycle will be set to “zero” for all firms. Firms may re-set their IEF settlement elections for the Friday, September 3, 1999, RTH cycle.

I. SIMEX PROCESSING

Only the AM Inter-Exchange cycle will be run on Tuesday, September 7, 1999. Trades for the cycle are due by 7:30 a.m. Normal Inter-Exchange processing will resume on Tuesday, September 7, 1999.

Any questions regarding SIMEX Processing may be directed to Gary George, Supervisor, Trade Management System (312) 648-3774.

If you have questions on any of the above, please call Tim Golomb, Financial Manager, at (312) 930-3194, or Charlene Benodin, Financial Supervisor, at (312) 930-3165.