Clearing  House Advisory Notices
To All Firm Personnel, Service Bureau Representatives, Independent Software Vendors
From Clearing House Department
Subject Variable Tick Implementation for E-Mini Russell 2000 Options – Effective 11/06/2005
Notice Date 2005-11-04
Notice Number 05-254
Effective Date 2005-11-04

Effective Sunday, November 6, 2005, a variable tick will be implemented on the E-MiniTM Russell 2000® options contract.  Premiums above 3.00 index points will tick in 0.10 increments. Premiums equal to or below 3.00 index points will tick in 0.05 increments. Cabinet trades will remain at 0.05. 

Additionally, variable tick increments will apply to the following options spreads: Option butterflies, horizontal option spreads, straddles, strangles and vertical option spreads.

If you have any questions regarding this notice, please contact Laura Sutor at 312.648.5480, emaillsutor@cme.com, or Lisa Amato at 312.338.2654, emaillamato@cme.com.

Thank you.

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