Chicago Mercantile Exchange

Clearing House Advisory Notice

Volume 99-79   

September 8, 1999

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To:                   Clearing Member Firms

                        Attn: Back Office Managers

                                  Delivery Personnel

 

 

From:               Clearing House Department

 

 

Re:                   Japanese Yen- September Currency Delivery

 

 

The Japanese Yen currency delivery will occur on Thursday, September 16^th instead of Wednesday, September 15^th due to a holiday in Japan. According to CME rule 3003.a.4 Delivery Days – Delivery shall be made on the third Wednesday of the contract month.  If that day is not a business day in the country of delivery or is a bank holiday in either Chicago or New York City, then delivery shall be made on the next day which is a business day in the country of delivery and is not a bank holiday in Chicago or New York City.

 

By 1:00 p.m. on Wednesday, September 15^th, long clearing firms receiving delivery of Japanese Yen must pay by wire transfer or submit an order-to-pay for the dollar value of the Japanese Yen to Bank One, New York.

 

If there are any questions, please call the Deliveries Unit at (312) 930-3172.