Clearing House Advisory Notices
To | Clearing Member Firms, Compliance Officers, and Back Office Managers
From | Clearing House Department
Subject | Reminder - MOS Eligible Transactions
Notice Date | 2004-11-29
Notice Number | 04-218
Effective Date |
In response to recent inquiries regarding the types of transactions that are eligible for inter-exchange transfer to the Singapore Exchange (SGX) via the Mutual Offset System (MOS), please be reminded of the following: 1. Pursuant to interpretations and practice with respect to rules in Chapter 8A - Mutual Offset System, only futures trades are eligible for inter-exchange transfer to SGX via MOS. 2. Current futures products eligible for the MOS are Eurodollar, EuroYen, EuroYen LIBOR, and yen denominated Nikkei 225 contracts. 3. Options on the above-mentioned futures products are not eligible for inter-exchange transfer via MOS. 4. Customer authorization for inter-exchange transfer via MOS must be designated prior to, or at the time of, a trade's execution. 5. Once a trade clears and becomes an overnight position, it is no longer eligible for subsequent inter-exchange transfer via MOS. 6. Futures positions resulting from exercise or assignment of an option are not eligible for inter-exchange transfer via MOS. Please review your current practices to ensure compliance with these requirements. If you have any questions, please call Stephen Staszak, Clearing House Department, at 312-930-3189. For the Adobe Acrobat version of this text...