• Currency Delivery Processing Procedures-Updated Document

      • To
      • Clearing Member Firms; Back Office Managers; Delivery Personnel
      • From
      • CME Clearing
      • #
      • 09-88
      • Notice Date
      • 09 March 2009
      • Effective Date
      • 09 March 2009

    • The Currency Delivery Processing Procedures document has been updated to reflect delivery procedures for the Turkish Lira and the Euro/Turkish Lira contracts and is available on cmegroup.com under the following link:

      http://www.cmegroup.com/clearing/files/DeliveryProcedures.pdf

       
       Listed below is a brief summary of delivery procedures for the new contracts:
       
      Turkish Lira and Euro/Turkish Lira
       
      • The last day of trading is the first business day prior to the third Wednesday of the contract month. The final settlement prices will be received Tuesday at 12:30 a.m. CST and will be made available in the Deliveries System.
       
      • Currency Commitments are due in the Deliveries System by 10:00 a.m. CST on the last day of trading.
       
      • There is a dual order-to-pay requirement for both contracts. Firms must have their order-to-pays or US Dollar wire transfer in by 1:00 p.m. CST. Wire transfers denominated in Euro are due at 8:00 a.m. CST and Lira denominated wire transfers are due by 6:00 a.m. CST.
       
      • On delivery day, payments must be in the CME Delivery account by 10:00 a.m. in the country of origin.
       
       
      Firms can obtain a copy of CME’s banking instructions for Turkish Lira by contacting Deliveries. 
       
      If there are any questions, please contact Deliveries at 312-930-3172.
      .

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