Mandatory Out-Trade Session for Expiring Currency Futures Contract

Clearing House Advisory Notice

From	Clearing House Department
Subject	Mandatory Out-Trade Session for Expiring Currency Futures Contract - March 2001
Effective Date	03/15/01
Notice Number	01-22

The March 2001 Currency futures contract expires Monday, March 19, 2001, at 9:16 a.m. There will be a mandatory out-trade session for the expiring contracts on Monday, March 19, 2001, at 2:00 p.m., in the currency out-trade area on the Upper Trading Floor, adjacent to the Currency complex.

OUT-TRADE REPORT PRINT TIME : 1:30 PM RECONCILIATION
The Exchange will produce a special set of unmatched trade notices following the 1:30 p.m. reconciliation. These unmatched trade notices will only include March 2001 Currency Futures and will be available at the start of the out-trade session on the Upper Trading Floor at 2:00 p.m. Broker out-trade and cleared trade reports will be available at the Reception Desk at approximately 1:45 p.m.

All firms with out-trades in expiring Currency futures contract will be required to attend this out-trade session. Failure to attend the session may result in a $1,000.00 fine.

For the out-trade session to be productive, it is essential that firms submit all March 2001 Currency data as early as possible, but no later than the 10:30 a.m. Intra-Day Reconciliation. Clearing members and member firms should utilize the special set of out-trade reports produced following the 1:30 p.m. intra-day reconciliation. It is important that all traders who execute trades in expiring contracts submit their trade data to their firm immediately after the close of trading for the March 2001 Currency futures contract.

Clearing firms that execute give-up trades on the last day of trading for currencies must allocate them on the Give-Up System (GUS) no later than 10:00 a.m. Carrying firms must accept or reject such give-up trades within 30 minutes of the allocation.

If you have any questions, please contact Gary George, Manager, Trade Management Systems, at 648-3774, or Morgan Culverhouse, Deliveries Manager, at 930-2892.