Client Management Advisory Notice
From | Client Management
Subject | Special Executive Report, S-3857, Stock Index Price Limits To Be Revised Effective Tuesday, October 1st, 2002.
Effective Date | 09/27/02
Notice Number | CM0278
S-3857 September 23, 2002 Stock Index Price Limits to be Revised Effective Tuesday, October 1 Exchange price limit Rules for domestic stock index futures� call for a quarterly re-assessment of price limits based on prevailing market prices. Limits are calculated quarterly at the close of business on the day preceding the commencement of a new calendar quarter. Thus, new limits shall become effective on Tuesday, October 1. The revised limits shall be applicable throughout the 4th calendar quarter. Please view attached Special Executive Report S-3857 for more details. � Note, however, that futures on the Long-Short Technology TRAKRS Index trade without explicit price limits. Rather, TRAKRS Rules require trading halts coordinated with trading halts in the primary security markets.