Market Data Advisory Notices
To | Quote Vendors
From | Market Data Operations
Subject | New Product Summary for Quote Vendors - Hot Rolled Steel
Notice Date | 2008-10-09
Notice Number | Q2008-214
Effective Date | 2008-10-20
Date: October 9, 2008 Q2008-214 | New Product Summary for Quote Vendors
Listing Date | October 20, 2008
Contract Name | Hot Rolled Steel
Description | U.S. Midwest Domestic Hot-Rolled Coil Steel Futures
Instrument Type | Futures, Calendar Spreads and Strips
Ticker Symbol(s) | Globex: HRC Product Symbol: HR
Trading Venue | CME Globex ® platform, NYMEX ClearPort® Clearing (CPC)
Contract Size | 20 short ton (US Tons)
Trading Hours | Sundays through Thursdays from 5:00 p.m. Central Time (CT) to 4:15 p.m. CT next day
Valid Contract Months | 18 consecutive monthly contracts
Initial Contract Months | Dec. 2008
Minimum Price Intervals and Value Per Tick | Trading tick of $5.00 per ton = $100 per contract for outrights, calendar spreads, and strips. Settlement tick of $0.50 per ton
Termination of Trading | The Business day before the 4th Wednesday of the contract month at 12:15 p.m. CT.
Final Settlement Price | Cash settled to an index which reflects an assessment of the prevailing market prices for U.S. Midwest Domestic Hot-Rolled Coil Steel. This index is developed by CRU Indices Ltd., a subsidiary of CRU International Ltd.
Exercise Style | N/A
Exercise Price Listings and Intervals | N/A
Price Conventions | Futures Trade Price | ITC 2.1 Ticker Testing Date(s)/Time(s) | Ticker testing will be held on Friday, October 17 at approximately 5:00 p.m. DST.
Actual Price | $1005.00 ( Trade Price) $1005.50 ( Settlement Price)
ITC Transmission Format | 0100500 | RLC Testing in CME Certification Environment | These products are currently available for quote vendor testing in the new release environment.
ITC Fractional Indicator | 2
RLC Format | TBD | Market Data Platform Channel Information | Market data in ITC 2.1 format will be transmitted via MDP Channel 40; RLC format data will be transmitted via MDP Channel 32.
Preferred Display | 1005.00