Chicago Mercantile Exchange

Clearing House Advisory Notice

99-81

September 14,1999

TO: All Currency Traders and Brokers

Back Office Managers/Firm Out-Trade Representatives

FROM: Clearing House Department

SUBJECT: Mandatory Out-Trade Session for Expiring Canadian Dollar Futures Contract

The September 1999 Canadian Dollar futures contract expires Tuesday, September 14, 1999, at 9:16 a.m. There will be a mandatory out-trade session for the expiring contracts on Tuesday, September 14, 1999, at 11:30 a.m., in the currency out-trade area on the Upper Trading Floor, adjacent to the Canadian Dollar pit.

SPECIAL OUT-TRADE REPORT PRINT TIMES : 10:30 AM RECONCILIATION

The Exchange will produce a special set of unmatched trade notices following the 10:30 a.m. reconciliation. These unmatched trade notices will only include September 1999 Canadian Dollar Futures and will be available at the start of the out-trade session on the Upper Trading Floor at 11:30 a.m. Broker out-trade and cleared trade reports will be available at the Reception Desk at approximately 11:15 a.m.

All firms with out-trades in expiring Canadian Dollar futures contract will be required to attend this out-trade session. Failure to attend the session may result in a $1,000.00 fine.

For the out-trade session to be productive, it is essential that firms submit all September 1999 Canadian Dollar data as early as possible, but no later than the 10:30 a.m. Intra-Day Reconciliation. Clearing members and member firms should utilize the special set of out-trade reports produced following the 10:30 a.m. intra-day reconciliation. It is important that all traders who execute trades in expiring contracts submit their trade data to their firm immediately after the close of trading for the September 1999 Canadian Dollar futures contract.

Clearing firms that execute give-up trades on the last day of trading for currencies must allocate them on the Give-Up System (GUS) no later than 10:00 a.m. Carrying firms must accept or reject such give-up trades within 30 minutes of the allocation.

If you have any questions, please contact Gary George, Supervisor, Trade Management Systems, at 648-3774, or John Verde, Deliveries Manager, at 930-3185.