• June 2008 CBOT Financial Delivery Cycle

      • To
      • Clearing Member Firms; Chief Financial Officers, Back Office Managers
      • From
      • CME Clearing
      • #
      • 08-100
      • Notice Date
      • 20 May 2008
      • Effective Date
      • 01 June 2008
    • For your information, following is an overview of the CBOT Financial delivery cycle. 
      CME Clearing House will be contacting firms on the last trade dates below to confirm their final positions.
      Initial Inventory
      First Delivery
      Last Trade
      Last Delivery
      T-Bonds/10yr. Notes
      May 27
      May 29
      May 30
      June 2
      June 19
      June 26
      June 30
      2 Yr. Notes/5 Yr. Notes
      May 27
      May 29
      May 30
      June 2
      June 30
      July 1
      July 3
      The CBOT Financial delivery cycle involves three days. The major events on each date are listed below:
      Day 1
      ·         Intents must be entered into the Delivery System by 8:00 p.m.
      ·         Assignment processing will occur after 8:00 p.m. daily.
      Day 2
      ·         Shorts must select the instruments they will deliver and confirm their invoices by  2:00 p.m.
      ·         Longs may enter bank account information on invoices the shorts have confirmed until 4:00 p.m.
      Day 3
      ·         Physical delivery of the intents of Day 1 in the 30 Year Bond, 10 Years Note, 5 Year and 2 Year Note contracts occurs prior to 1:00 p.m.
      ·         Longs or shorts must notify CME Clearing of a failed delivery by 2:00 p.m. in order to avail themselves of the guarantee protections pertaining to the delivery process.
      Firms that have long positions should maintain those positions daily throughout the delivery cycle, adding and removing dates as necessary. CME and CBOT staff will be monitoring firm positions and long date totals.
      Issues and Stops Report will be available at approximately 9:00 p.m. nightly on the CME Group web site (http://www.cmegroup.com/market-data/datamine-historical-data/cbot-delivery-reports.html). The report is also available in info pack as report name DLV600. The firm assignment reports will be made available nightly under Info pack report name DLV300 nightly. CME Group will generate invoices on Infopac and Document Direct for Financial products after 4:00 p.m. daily starting on the day after the first intent day. These are available as report DLV400 and DLV401. 
      If you have any questions regarding the physical delivery process please contact CME Deliveries Unit at (312) 930-3172.