Client Management Advisory Notices
To | Back Office Managers
From | Client Management Operations
Subject | Special Executive Report S-4034: Stock Index Price Limits To Be Revised Effective For 1st Quarter 2004
Notice Date | 2003-12-29
Notice Number | CMO#0440
Effective Date |
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 with the commencement of Electronic Trading Hours (ETH) on Wednesday, December 31 at 3:30p.m. The revised limits shall be applicable throughout the 1st calendar quarter, 2004 Please view the attached Special Executive Report for more information. ·Note, however, that futures on any TRAKRS Index trade without explicit price limits. Rather, TRAKRS Rules require trading halts coordinated with trading halts in the primary security markets.