Client Management Advisory Notice
 | 
From Client Management
Subject Special Executive Report, S-3857, Stock Index Price Limits To Be Revised Effective Tuesday, October 1st, 2002.
Effective Date 09/27/02
Notice Number CM0278

S-3857                                                                                                   September 23, 2002

 

Stock Index Price Limits to be

Revised Effective Tuesday, October 1    

 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 on Tuesday, October 1.  The revised limits shall be applicable throughout the 4th calendar quarter. 

Please view attached Special Executive Report S-3857  for more details.
 

� Note, however, that futures on the Long-Short Technology TRAKRS Index trade without explicit price limits.  Rather, TRAKRS Rules require trading halts coordinated with trading halts in the primary security markets.