GLOBEX Advisory Notices
To |
From | CME
Subject | Maximum Order Size Increase for CME(R) Eurodollars on Globex(R)
Notice Date | 2005-04-15
Notice Number | 041505-1
Effective Date |
Dear CME® Globex® Customers, Effective Sunday, April 17, 2005, at 5:00 p.m. Central time, the maximum permissible order size for selected CME Eurodollar futures and spreads executed on the CME Globex platform will increase from the current 5,000 contract maximum to 10,000 contracts. The order size increase will apply to the first eight quarterly and serial month expirations, and any defined spread which has at least the first leg within the front eight quarterly contracts and serial expirations. For example, on April 17, 2005, an outright buy order for 10,000 June 2006 CME Eurodollar futures contracts would be permissible, as would an order for 10,000 June 2006/September 2006 calendar spreads. In addition, it would be permissible to enter an order to buy or sell 10,000 March 2007/June 2007/September 2007 butterfly spreads. Outright contracts and spreads whose individual legs are exclusively in the last 32 contracts (year three and beyond) will continue to be subject to the 5,000 contract order limit, as will all CME Eurodollar Pack and Bundle orders. Please note that the modification described above refers to the order size that will be accepted by the CME matching engine. Risk management systems at individual Clearing Firms may set maximum order sizes at levels different from those at CME. If you have any questions regarding the increase in maximum order size, please contact Peter Barker, Director, Interest Rate Products at 312.930.8554; or the CME Globex Control Center at 312.456.2391. Thank you, CME 1.800.331.3332