Clearing House Advisory Notices
To Clearing Member Firms
From Clearing House Department
Subject Update on Zero and Negative Prices for CME Weather Contracts
Notice Date 2007-05-21
Notice Number 07-100
Effective Date 2007-06-18
Beginning Monday, June 18, 2007 zero will be allowed as a valid trade price and/or daily settlement price for CME Snowfall Index Futures, CME Seasonal Strip Snowfall Futures, CME Weekly Average Temperature Futures.  Currently, the lowest price accepted is one tick.  With this change, the lowest price accepted will be zero.  Similarly, beginning Monday, June 18, 2007 options on these futures may be traded with zero strike prices. 
  
Beginning in September 2007, zero or negative values will be allowed as valid trade prices and/or settlement prices for CME Weekly Average Temperature futures, and zero or negative values will be allowed for strike prices for options on these futures.