Market Data Advisory Notices
To | Quote Vendors
From | Market Data Operations
Subject | New Product Summary for Quote Vendors - Lumber Futures and Options
Notice Date | 2008-10-09
Notice Number | Q2008-213
Effective Date | 2008-10-19
Date: October 9, 2008 Q2008-213 | New Product Summary for Quote Vendors
Listing Date | Sunday, October 19, 2008 (trade date Monday, October 20, 2008)
Contract Name | Lumber Futures and Options
Description | Futures and Options being listed on CME Globex ®
Instrument Type | Future outrights, Calendar Spreads & Option outrights, verticals, horizontals, and UDS
Ticker Symbol(s) | LBS
Trading Venue | CME Globex platform (Side-by- Side)
Contract Size | Futures - 110,000 bd. Ft. of random lengths 2x4s / Options - 1 CME Lumber Futures
Trading Hours | Sundays through Fridays from 5:00 p.m. Central Time (CT) to 4:00 p.m. Central Time (CT)
Valid Contract Months | Nov08, Jan9, Mar09, May09, Jul09, Sep09, Nov09
Initial Contract Months | Nov08
Minimum Price Intervals and Value Per Tick | $0.10 per thousand board feet = $11 per contract
Termination of Trading | For Futures - Trading in an expiring contract concludes on the business day immediately preceding the 16 th calendar day of the contract month. Expiration Time: 12:05:00 CT For Options – Last business day of the calendar month prior to the option contract month. Expiration Time: 13:05:00 CT
Final Settlement Price | Final settlement per CME rulebook
Exercise Style | American
Exercise Price Listings and Intervals | ATM +/- 20 in $5 intervals
Price Conventions | Futures Trade Price | Option Strike Price | Option Premium | ITC 2.1 Ticker Testing Date(s)/Time(s) | Ticker testing will be held on Friday, October 10 and Friday October 17 2008 at approximately 5:00 p.m. DST.
Actual Price | 257.90 | 255.00 | 7.00
ITC Transmission Format | 0025790 | 0025500 | 0000700 | RLC Testing in CME Certification Environment | These products will be available for Quote Vendor testing in the new release environment on October 5, 2008.
ITC Fractional Indicator | 2 | 2 | 2
RLC Format | 25790 | 2550 | 700 | Market Data Platform Channel Information | Market data in ITC 2.1 format will be transmitted via MDP Channel 206; RLC format data will be transmitted via MDP Channel 13.
Preferred Display | 257.90 | 55 | 7.00