Client Management Advisory Notice
From | Client Management
Subject | Special Executive Report S-3749: JANUARY 2002 BRAZILIAN REAL FUTURES AND OPTIONS CONTRACTS TO TERMINATE FRIDAY, DECEMBER 28, 2001
Effective Date | 12/19/01
Notice Number | CM#0187
At its Regular Meeting on Wednesday, December 12, 2001, the Board of Directors approved a change in the January 2002 CME Brazilian real futures and options termination of trading day from Monday, December 31, 2001 to Friday, December 28, 2001. The Central Bank of Brazil (Banco Central do Brasil) has informed CME that the end-of-month spot "PTAX Rate" that it will publish on Monday, December 31, 2001, will be the same rate as determined and published on Friday, December 28, 2001. CME uses the reciprocal of the end-of-month "PTAX Rate" to cash settle expiring Brazilian real futures and options contracts. The Exchange changed the January 2002 CME Brazilian real contracts termination date to enable the futures last trading date to coincide with the date of determination of the spot market rate used for final settlement. CME took this same action last year regarding the termination of the January 2001 CME Brazilian real futures and options contracts. The Central Bank of Brazil has informed the CME that if it deviates from this schedule, it will notify the Exchange. There is no open interest in the January 2002 Brazilian real futures and options contracts to date. If you have any questions, please contact Mr. Scott Brusso, Director, Currency Products, at (312) 930-3133, or Mr. Steven Youngren, Associate Director, Financial Product Development, at (312) 930-4583.