Clearing House Advisory Notice
To | Chief Financial Officers Back Office Managers
From | Clearing House Department
Subject | Clearing House Holiday Schedule - 4th of July
Effective Date | 07/03/00
Notice Number | 00-50
MONDAY JULY 3, 2000 There will be an abbreviated trading schedule on Monday, July 3, 2000. All agricultural and currency futures and options close at noon. The GSCI also closes at 12:00 p.m. Interest rates close at 12:10 p.m. Equity products close at 12:15 p.m TUESDAY JULY 4, 2000 The CME will be closed on Tuesday, July 4, 2000. U.S. Banks will also be closed in observance of the holiday. The Singapore Exchange will be open. A. PERFORMANCE BOND SCHEDULE The Clearing House will not process Intra-Day and End of Day Variation and performance bond calls and releases on Tuesday, July 4, 2000. SPAN FILES Due to the abbreviated trading schedule on Monday, July 3, 2000, the CME will not produce an early SPAN file. The final SPAN file will be available at approximately 2:30 p.m. No CME SPAN files will be generated on Tuesday, July 4, 2000. B. MONEY CHANGER DEAD LINES /RATES The CME MoneyChanger Service will be available until 11:59:54 a.m. on Monday, July 3, 2000. Any orders to buy or sell foreign currency entered after 12:00 p.m. Monday, July 3, 2000, and before 1:59:54 p.m. on Wednesday, July 5, 2000, will be executed on Wednesday, July 5, 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
Monday, July 3, 2000 | Wednesday, July 5, 2000
Tuesday, July 4, 2000, MoneyChanger is closed. |
D. DEPOSITS OF PERFORMANCE BOND COLLATERAL The U.S. bank holiday will prevent the posting of transactions dated July 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, June 30, 2000 | Monday, July 3, 2000
Monday, July 3, 2000 | Wednesday, July 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, June 29, 2000 | Monday, July 3, 2000
Friday, June 30, 2000 | Wednesday, July 5, 2000
Monday, July 3, 2000 | Thursday, July 6, 2000
G. A.M. SETTLEMENT CONFIRMATIONS The U.S. banks are closed on Tuesday, July 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 Wednesday, July 5, 2000. Payment for U.S. dollar settlement transactions from business as of Monday, July 3,2000, the RTH cycle will occur on Wednesday, July 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 Monday, July 3, 2000, ITD cycle will be set to zero for all firms. Clearing firms IEF settlement elections will be re-enabled by the Clearing House, effective with the RTH cycle on Monday July 3, 2000. No IEF purchases/redemptions will be allowed on Tuesday, July 4, 2000. I. INTER-EXCHANGE PROCESSING Only an AM Inter-Exchange cycle will be run on Tuesday, July 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 Wednesday, July 5, 2000. If you have questions regarding Inter-Exchange Processing, please call Mark Cox, Operations Analyst, at (312) 648-8699. If 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