Client Management Advisory Notice
From | Client Management
Subject | CME Board Of Directors Approves Substitution Of Price Banding For Price Limits On Weather Futures
Effective Date | 12/31/01
Notice Number | CM#0192
III. BOARD APPROVES SUBSTITUTION OF PRICE BANDING FOR PRICE LIMITS ON WEATHER FUTURES At its Regular Meeting on Wednesday, December 12, 2001, the Board of Directors approved the substitution of price banding for price limits on Degree Days Index Futures (Weather Futures) on GLOBEX� electronic trading system to strengthen the safeguard against erroneous order entry. Under proposed rule amendments, there will be no price limit at any time on any trading days in the Weather Futures. However, buy orders with prices of 50 index points or more above the CME last price or sell orders with prices of 50 index points or more below the CME last price will not be allowed to be entered. The implementation date for the new policy will be announced. If you have any questions, please contact Mr. Peter Barker, Director, Product Sales, at (312) 930-8554, or Mr. Richard Co, Associate CMEDirector, Product Development, at (312) 930-3227