• Delisting of All FX and Dairy Options EDS Except for Big Six, Dry Whey, and Class III Milk-Effective March 22, 2009

      • To
      • Clearing Member Firms; Chief Financial Officers; Back Office Managers
      • From
      • CME Clearing
      • #
      • 09-75
      • Notice Date
      • 27 February 2009
      • Effective Date
      • 22 March 2009
    • Effective Sunday, March 22, 2009 (trade date Monday, March 23), CME Group will delist all FX and Dairy Options EDS from CME Globex except for Big Six, Dry Whey and Class III Milk. CME Group currently prelists approximately 360,000 options spreads per week, known as Exchange-Defined Spreads (EDS). Less than 1% of the more than 360,000 EDS have activity. Due to customer and system provider demand, CME Group has chosen to remove all EDS and make all option strategies user defined. A User-Defined Spread (UDS) is an option spread that a trader creates by defining the spread's legs and ratios. CME Globex receives these legs and creates a tradable instrument that is disseminated to the entire market. If the created spread matches a known CME Group spread type (e.g. straddle), CME Globex will properly identify the spread as that type.

       

      Please reference the following timeline:

      • CME Group will delist all FX options EDS from CME Globex on March 22 except:
        • AUD/USD (tag 1151-SecurityGroup=6A)
        • CAD/USD (tag 1151=6C)
        • GBP/USD (tag 1151=6B)
        • EUR/USD (tag 1151=6E)
        • JPY/USD (tag 1151=6J)
        • CHF/USD (tag 1151=6S) 
      • CME Group will delist all Dairy options EDS from CME Globex on March 22 except:
        • Dry Whey (tag 1151=DY)
        • Class III Milk (tag 1151=DC)
      • This will be introduced into the New Release Environment on March 9
      Note that the Vol quoted EDS is not being delisted for the Big Six.

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