Clearing House Advisory Notices
To | Clearing Member Firms; Back Office Managers
From | CME Clearing
Subject | Change in Storage Season for Frozen Pork Bellies
Notice Date | 2007-09-24
Notice Number | 07-227
Effective Date | 2007-09-24
The Exchange has approved amendments to the rules for trading Frozen Pork Bellies futures, to be effective with the February 2008 contract. Beginning in 2008, the amendments allow bellies, stored no earlier than October 1st (previously November 1st) of the previous year, to be delivered. The amended Rules are noted below: 15104. PAR DELIVERY AND SUBSTITUTIONS C. Par Delivery 3. Storage – To be eligible for delivery during the months of February, March, May, July and August, pork bellies shall not have been produced or stored prior to October 1st of the previous year. Each delivery unit shall be stored and completed within a 15-day period under one lot number and must be stored continuously in only one approved cold storage warehouse. 15106. EXCHANGE CERTIFICATE An official Exchange Certificate for pork bellies based on an examination made on or after October 1st of any year shall remain in force until 5:00 p.m. on the first business day of the following September, provided the bellies have remained in the same warehouse and have been kept under proper refrigeration. Exchange Certificate must be in a good standing up to 5:00 p.m. on the business day following the day of delivery. If you have any questions about these new procedures, please call the CME Deliveries Unit at (312) 930-3172. Printer Friendly Version...