Clearing House Advisory Notice
To | Chief Financial Officers Back Office Managers
From | Clearing House Department
Subject | Clearing House Holiday Schedule (Revision) - Labor Day
Effective Date | 08/31/00
Notice Number | 00-65
UPDATE: PLEASE BE ADVISED THE INTEREST RATE PRODUCTS CLOSE AT NOON AND NOT AT 12:10 P.M. FRIDAY SEPTEMBER 1, 2000 There will be an abbreviated trading schedule on Friday, September 1, 2000. All agricultural, currency futures and options and interest rate futures and options close at noon. Agricultural options close at 12:02 p.m. The GSCI closes at 1:15 p.m. Equity products will close at their regular time. MONDAY SEPTEMBER 4, 2000 The CME will be closed on Monday, September 4, 2000. U.S. Banks will also be closed in observance of the holiday. The Singapore Exchange will be open. A. PERFORMANCE BOND SCHEDULE On Friday, September 1, 2000, the Clearing House will process Intra-Day and End of Day variation and performance bond calls and releases on its normal schedule. The Clearing House will NOT process Intra-Day and End of Day Variation and performance bond calls and releases on Monday, September 4, 2000. SPAN FILES No CME SPAN files will be generated on Monday, September 4, 2000. Span files will be produced at their normal times on Friday, September 1, 2000. B. MONEY CHANGER DEAD LINES /RATES The CME MoneyChanger Service will be available until 11:54:59 a.m. on Friday, September 1, 2000. Any orders to buy or sell foreign currency entered after 12:00 p.m. Friday, September 1, 2000, and before 1:54:59 p.m. on Tuesday, September 6, 2000, will be executed on Tuesday, September 6, 2000, 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 transactions:
Trade Date | Value Date
Friday, September 1, 2000 | Tuesday, September 5, 2000
Monday, September 4, 2000, MoneyChanger is closed. D. DEPOSITS OF PERFORMANCE BOND COLLATERAL The U.S. bank holiday will prevent the posting of transactions dated September 4, 2000. E. FOREIGN CURRENCY PERFORMANCE BOND CASH WITHDRAWALS Due to the U.S. bank 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 1, 2000 | Tuesday, September 5, 2000
F. FOREIGN CURRENCY SETTLEMENT VARIATION Due to the U.S. bank holiday�s effect on transaction processing, please note the following adjustments to the value dates for foreign currency settlement variation.
Trade Date | Value Date
Thursday, August 31, 2000 | Tuesday, September 5, 2000
Friday, September 1, 2000 | Wednesday, September 6, 2000
G. A.M. SETTLEMENT CONFIRMATIONS The U.S. banks are closed on Monday, September 4, 2000. Your settlement bank will provide an a.m. settlement confirmation for both U.S. dollar and foreign currency transactions by 6:40 a.m. on Tuesday, September 5, 2000. Payment for U.S. dollar settlement transactions from business of Friday, September 1, 2000, (RTH cycle) will occur on Tuesday, September 5, 2000. H. INTEREST EARNING FACILITY (IEF) Due to the U.S. bank holiday�s effect on transaction processing, please note the following adjustments to IEF processing schedules. IEF settlement elections for the Friday, September 1, 2000, ITD cycle will be set to �zero� for all firms. The CME will re-enable the Clearing House ITD cycle effective on Tuesday, September 5, 2000. No IEF purchases/redemptions will be allowed on Monday, September 4, 2000. I. INTER-EXCHANGE PROCESSING Only the AM Inter-Exchange cycle will be run on Monday, September 4, 2000. Trades for the cycle are due by 7:30 a.m. Matched and unmatched inter-exchange trade reports should be available by 9:30 a.m. Normal Inter-Exchange processing will resume on Tuesday, September 5, 2000. If you have questions regarding Inter-Exchange Processing, please call Mark Cox, Operations Analyst, at (312) 648-8699. f you have questions on any of the above, please call Tim Golomb, Director Financial Management, at (312) 930-3194, or Marcos Garcia, Financial Supervisor, at (312) 930-2327.