| The first security futures expiration will take place at the close of business on Friday, December 20, 2002. Security futures products expire on the third Friday of every month with physical delivery on T+3. As a result of the Christmas holiday on December 25th, the first delivery date will be December 26, 2002. Post Trade Input Final open positions as of the close of business on Friday, December 20, 2002 will be used to determine a firm�s final delivery commitment. Each firm with open positions should carefully review all open positions for the expiring contracts. Firms must complete any position adjustments by 5:00 p.m. on expiration day. Please notify the Clearing House Operations Unit at 312-207-2525 and make them aware of any position adjustments for the expiring contracts. Expiring positions will not be netted at the clearing level prior to the allocation and delivery process. The NSCC will reduce the transactions requiring physical delivery by netting each members total buy obligation against the total sell obligation to produce one net position along with a net money amount. Reports The following reports should be used to monitor the delivery process; The Gross Position Change Listing (ONECPM520)
The report lists the firm�s final positions after adjustments. The Daily Trade and Position Register (ONECPM591)
The report lists the opening position, the trade price and the settlement price. The Delivery Advice Report (ONECPM741)
The report list the delivery requirement by stock, the total pay and collect amount and the net position account total. Clearing Margin The last mark to market will be reflected through the morning settlement cycle on Monday, December 23, 2002. Performance bond will be released on the Tuesday, December 24, 2002 intra-day settlement cycle. CME will continue to collect performance bond on any pending security futures contracts until a settlement date is known and the deliveries are sent to the OCC. Any questions regarding the delivery process should be directed to the Clearing House Operations Unit at 312-207-2525. | 