GLOBEX Advisory Notices
To |
From | Chicago Mercantile Exchange
Subject | Eurodollar Options Changes on GLOBEX(R)
Notice Date | 2004-06-30
Notice Number | 1
Effective Date |
Dear GLOBEX® Users, As previously announced, Chicago Mercantile Exchange will launch a new system to enable enhanced trading of Eurodollar options on August 2, 2004. As part of this launch, GLOBEX and the new system will both list Eurodollar options. This memo outlines two minor changes to Eurodollar listings on GLOBEX in preparation for the launch. Symbol Change on GLOBEX Effective July 11, 2004, the GLOBEX interest rate commodity code option symbols will change to be consistent with the new system. Please see the table below outlining the change:
Eurodollar Options Contract | FROM Current GLOBEX Symbol | TO New GLOBEX Symbol
Standard Eurodollar options | ED (e.g. EDZ5 C9850) | GE (e.g. GEZ5 C9850)
1 yr mid curves | E0 (e.g. E0Z5 C9850) | GE0 (e.g. GE0Z5 C9850)
2 yr mid curves | E2 (e.g. E2Z5 C9850) | GE2 (GE2Z5 C9850)
5 yr mid curves | E5 (e.g. E5Z5 C9850) | GE5 (e.g. GE5Z5 C9850)
Please note the following: CME will add the following contracts to the certification environment on June 30, 2004, so that you can test the symbol change. Simply re-download the MO message to get these new contracts: GEU4 P9800 GEU4 C9800 GE0U4 P9800 GE0U4 C9800 GE2U4 P9800 GE2U4 C9800 GE5U4 P9800 GE5U4 C9800 GLOBEX will not institute any variable ticks for the GLOBEX options as the new options system will. There will be no tick size change on GLOBEX. GLOBEX will add additional strike prices to match those listed on the trading floor. Eurodollar Options Trading Hours While both GLOBEX and the new enhanced options system will allow Eurodollar options trading beginning in August, the contracts will not trade concurrently on both applications. Upon the launch of the Enhanced Options System, Eurodollar options will trade the following hours on each system:
GLOBEX: | Sunday - Thursday / 5:00 p.m. - 6:50 a.m. CT
Enhanced Options System: | Monday - Friday / 7:00 a.m. - 4:00 p.m. CT
For questions regarding these GLOBEX changes, please contact your Technology Marketing Account Manager at 312.634.8700 or email Technology Marketing. For more information about the new options system, please contact the Interest Rate product group at 312.642.3839. Thank you, Chicago Mercantile Exchange