Client Management Advisory Notice
From | Client Management
Subject | Block Trading Policy Amendments � Effective Sunday, July 1, 2001
Effective Date | 05/31/01
Notice Number | NP#0113
Effective Sunday, July 1, 2001, Block Trading Policies will be amended as follows: Block trading in Eurodollar futures will be extended to include ALL Eurodollar futures contract months � covering the entire ten-year spectrum. Clearing fees for Block Trades on Eurodollar futures and options will be reduced to $1.00 per side from the existing rate of $1.75 per side. The fee for block trades on all other contracts will remain at $1.75 per side. The minimum block trade quantity requirements for Eurodollar contracts will be increased as follows: Futures = 7,500 contracts Options = 10,000 contracts Clearing firms participating in a block transaction will not be identified on the MQPC system consistent with block trading practices elsewhere. Block trading of 13-Week Treasury Bill futures and options will be permitted subject to a minimum quantity requirement of one hundred contracts. Block trading of Weather futures and options (Heating Degree Day and Cooling Degree Day contracts) will be permitted subject to a minimum quantity requirement of twenty contracts. Pending CFTC approval, for Block Trades on Eurodollar futures and options only, the current five minute reporting period will be extended to fifteen minutes. Block trades in all other markets will remain at a five minute reporting requirement. An updated Q&A will be distributed prior to July 1st. Please contact Mr. John Labuszewski, Product Development, at (312) 466-7469, if you have any questions. Thank you.