Client Management Advisory Notice
From | Client Management
Subject | CME Board Of Directors Approves E-mini Midcap 400 Futures And Options
Effective Date | 12/31/01
Notice Number | CM#0198
VI. BOARD APPROVES E-MINI MIDCAP 400 FUTURES AND OPTIONS At its Regular Meeting on Wednesday, December 12, 2001, the Board of Directors approved the development of E-Mini Standard & Poor�s MidCap 400 Stock Price Index futures and options. These contracts represent 1/5th sized versions of the current MidCap 400 contracts � valued at $100 times the Index instead of $500 times the Index - please refer to the summary below for details. The launch date will be announced later.
| Futures | Options on Futures
Contract Size | $100 times MidCap 400 Stock Price Index | One E-Mini MidCap 400 Index Futures Contract
Contract Months | March Quarterly Cycle | Same as Futures plus 1st Two "Serial" or Non Quarterly Cycle Months
Trading Hours | Monday-Thursday 3:45 pm � 3:15 pm the following day; Sundays and holidays, 5:30 p.m � 3:15 pm the following day. | Same as Futures
Minimum Price Fluctuation | 0.10 Index Points or $10.00 | 0.10 Index Points; Cabinet = 0.05 Index Points or $5.00
Price Limits | 5%, 10%, 15% and 20% Limits - see Rulebook for Details | No Limits
Position Limits | 5,000 Standard Sized MidCap 600 Contracts or the Combined Futures Equivalent | 5,000 Standard Sized MidCap 600 Contracts or the Combined Futures Equivalent
Final Settlement Date | The third Friday of the Contract Month | -
Last Trading Day | Trades until 8:30 a.m. (Chicago time) on Final Settlement Date. | Trades until 8:30 a.m. (Chicago time) on Final Settlement Date.
Final Settlement Price | Based upon a Special Open Quotation of the MidCap 400 Index referencing the opening values of Constituent Stocks | -
If you have any questions, please contact Mr. John W. Labuszewski, Director, Clearing Development, at (312) 466-7469, or Mr. Richard Co, Associate Director, Product Development, at (312) 930-3227.