Clearing House Advisory Notice
To | Chief Financial Officers Back Office Managers
From | Clearing House Department
Subject | Clearing House Holiday Schedule - New Years Day
Effective Date | 12/27/00
Notice Number | 00-92
Friday, December 29, 2000 Currency and interest rate futures and options, and agricultural futures close at noon. Agricultural options close at 12:02 p.m. The GSCI contract will close at noon. Equity index products will close at their regular time. Friday will be a normal processing day. Sunday, December 31, 2000 GLOBEX2 trading will be closed. Monday, January 1, 2001 The CME will be closed on Monday, January 1, 2001. U.S. banks will also be closed. Globex2 is closed and will resume trading on Tuesday, January 2, 2001 at 5:30 a.m. A. BANKING AND SETTLEMENT CYCLES The intra-day and end-of-day banking and settlement cycles will occur at their normal times on Friday, December 29. There will be no banking and settlement cycle processing on Monday, January 1. SPAN files will be produced at their normal times on Friday, December 29. There will be no SPAN files produced on Monday, January 1. B. MONEY CHANGER DEADLINES /RATES The CME MoneyChanger service will be available until 11:54:59 a.m. on Friday, December 29. Orders to buy or sell foreign currency entered after 12:00 noon on Friday, December 29, will be executed on Tuesday, January 2, at prevailing rates as 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, December 29, 2000 | Tuesday, January 2, 2001
On Monday, January 1, MoneyChanger is closed. D. WITHDRAWLS OF PERFORMANCE BOND COLLATERAL The U.S. banking holiday will prevent the posting of transactions dated January 1, 2001. Consequently, clearing firms will be unable to deposit or withdraw collateral on Monday, January 1, 2001. E. A.M. FINANCIAL SUBMISSION DEADLINES FOR FRIDAY DECEMBER 29 9:00 a.m. Treasury deposit notification to banks 10:00 a.m. Treasury and foreign currency withdrawal authorization forms to the Clearing House. Deposits or withdrawals of stock. 10:00 a.m. Letter of credit amendments 10:30 a.m. Bank confirmation to Clearing House P.M. FINANCIAL SUBMISSION DEADLINES FOR FRIDAY DECEMBER 29 1:00 p.m. Treasury deposit notification to banks 1:00 p.m Treasury and foreign currency withdrawal authorization forms to the Clearing House. Deposits or withdrawals of stock. 1:00 p.m. Letter of credit amendments 1:30 p.m. Bank confirmation to Clearing House F. FOREIGN CURRENCY PERFORMANCE BOND CASH WITHDRAWALS Due to the U.S. bank holiday�s effect on transaction processing, please note the following adjustments to value dates on foreign currency performance bond cash withdrawals:
Request Date | Value Date
Friday, December 29, 2000 | Tuesday, January 2, 2001
G. 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, December 28, 2000 | Tuesday, January 2, 2001
Friday, December 29, 2000 | Wednesday, January 3, 2001
H. A.M. SETTLEMENT CONFIRMATIONS Due to the CME and U.S. banks being closed on Monday, January 1, 2001, your settlement bank will provide an a.m. settlement confirmation for both U.S. dollars and foreign currency transactions on Tuesday, January 2, by 6:40 a.m. Payment for U.S. dollar settlement transactions from business as of Friday, December 29, will occur on Tuesday, January 2. Payment for foreign currency settlement transactions from business as of Friday, December 29, will occur on Wednesday, January 3, 2001. I. INTE 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 Friday, December 29, intra-day cycle will be set to zero for all firms. On Friday, December 29, firms must call the Clearing House by 10:00 a.m. for any deposits or redemptions of IEF. No IEF purchases or redemptions will be allowed on Monday, January 1, 2001. J. INTER-EXCHANGE PROCESSING The Singapore Exchange will be closed on Monday, January 1 and there will be no Inter-Exchange Cycles processing. The next Inter-Exchange Processing Cycle will be on Tuesday morning, January 2. 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, Associate Director Financial Management, at (312) 930-3194, or Marcos Garcia, Financial Supervisor, at (312) 930-2327, or Gary George, Supervisor Trade Management Systems, at (312) 648-3774.