Clearing House Advisory Notice
To | Chief Financial Officers Back Office Managers
From | Clearing House Department
Subject | Clearing House Holiday Schedule - Memorial Day
Effective Date | 05/24/00
Notice Number | 00-43
Monday, May 29, 2000, U.S. Banks will be closed in observance of Memorial Day. The CME will also be closed on Monday, May 29, 2000. The Singapore Exchange will be open. A. PERFORMANCE BOND SCHEDULE The Clearing House will not process Intra-Day Variation and End of Day cycle performance bond calls and releases on Monday, May 29, 2000. No CME SPAN files will be generated on Monday, May 29, 2000. CME SPAN files will be produced on Friday, May 26, 2000 on their normal schedule B. MONEY CHANGER DEAD LINES /RATES The CME MoneyChanger Service will be available until 11:59:54 a.m. on Friday, May 26, 2000. Any orders to buy or sell foreign currency entered after 12:00 p.m. Friday, May 26, 2000, and before 1:59:54 p.m. on Tuesday, May 30, 2000, will be executed on Tuesday, May 30, 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 transaction:
Trade Date | Value Date
Friday, May 26, 2000 | Tuesday, May 30, 2000
Monday, May 29, 2000, MoneyChanger is closed. (OVER) D. DEPOSITS OF PERFORMANCE BOND COLLATERAL The U.S. bank holiday will prevent the posting of transactions dated May 29, 2000. Due to the U.S. bank holiday clearing firms will be unable to deposit additional collateral or withdraw excess collateral. 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, May 26, 2000 | Tuesday, May 30, 2000
F. FOREIGN CURRENCY SETTLEMENT VARIATION Due to the U.S. bank holiday�s effects on transaction processing, please note the following adjustments to the value dates for foreign currency settlement variation.
Trade Date | Value Date
Thursday, May 25, 2000 | Tuesday, May 30, 2000
Friday, May 26, 2000 | Wednesday, May 31, 2000
G. A.M. SETTLEMENT CONFIRMATIONS Although the U.S. banks are closed on Monday, May 29, 2000, your settlement bank will still provide an a.m. settlement confirmation for both U.S. dollar and foreign currency transactions by 6:40 a.m. on Tuesday, May 30, 2000. Payment for U.S. dollar settlement transactions from business as of Friday, May 26,2000, will occur on Tuesday, May 30, 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, May 26, 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 Friday May 26, 2000. No IEF purchases/redemptions on Monday, May 29, 2000. I. INTER-EXCHANGE PROCESSING Only the AM Inter-Exchange cycle will be run on Monday, May 29, 2000. Trades for the cycle are due by 7:30 a.m. Normal Inter-Exchange processing will resume on Tuesday, May 30, 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.