• CME Clearing Notice: November 14, 2011

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      • Clearing Member Firms; Back Office Managers
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      • CME Clearing
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      • 11-384
      • Notice Date
      • 14 November 2011
      • Effective Date
      • 14 November 2011

    • NOTICE #: 11-384
      SUBJECT: CME Clearing Notice: November 14, 2011
       
      Effective Monday, November 14, CME Clearing is introducing this new weekly CME Clearing Notice advisory format intended to provide a broader view into upcoming system updates and announcements. CME Clearing intends to publish this type of advisory every Monday.
       
      Topics in this issue include:
       
      *        Deliveries
      *        Events & Announcements
       
      Please be aware, effective Monday, November 21st, 2011, FTP transmissions will cut over to EREP generated file packages. This includes decommission of legacy Virtual Print System (VPS) functionality. Firms will only be able to retrieve their clearing reports from the secured FTP server. Note that no file name changes are affected.
      Please contact CME Clearing at (312) 207-2525 or via email at ccs@cmegroup.com with any questions.
      This link provides the stockyards and slaughter plants that have been approved for deliveries against the CME Group Live Cattle futures contract from October 1, 2011 through January 31, 2012. Delivery point information and contact numbers are listed for your reference.
      If there any questions, please contact the Deliveries Unit at (312) 930-3172.
      This link provides the relevant delivery dates for November 2011 Chicago Mercantile Exchange Inc., Chicago Board of Trade, New York Mercantile Exchange, Dubai Mercantile Exchange, COMEX and GreenX contracts.
      Document Direct Decommission/EREP Production Cutover
      Please be advised that effective Monday, November 14th, 2011, Document Direct will be decommissioned. Enterprise Reporting Portal (EREP), which has been available in an extended production parallel since October 2010, will replace Document Direct.
      Firms are encouraged to continue to access EREP within the CME Group CERT and PROD portals to certify readiness prior to November 14th, 2011. This includes verification of user access, report permissions, report data and format, system features, and FTP transmissions.
      File Packaging and VPS Decommission – Effective November 21st, 2011
      Effective Monday, November 21st, 2011, FTP transmissions will cutover to EREP generated file packages. This includes decommission of legacy Virtual Print System (VPS) functionality.
       
      Please access the EREP User Manual or EREP FAQ for additional details on system features.
       
      Please contact CME Clearing at (312) 207-2525 or via email at ccs@cmegroup.com with any questions.
      Effective Sunday, November 6, 2011, for trade date Monday, November 7, 2011, the Commodity Exchange, Inc. (COMEX or Exchange) will expand the strike price listing rule for the Short-Term Gold Option contract (Chapter 1067, commodity code L01-L31).  The expansion from ten (10) to forty (40) strike price increments is intended to provide the trading community with greater flexibility. Short-Term Gold Options are listed for trading on the COMEX trading floor and CME Globex and for submission for clearing through CME ClearPort.  The Exchange shall provide notification of the expansion of strike price increments to the Commodity Futures Trading Commission within one week following the effective date of these changes.
       
      Trading shall be conducted for options with strike prices in increments as set forth below.
      (A) On the first business day of trading in an option contract day, trading shall be at the following strike prices: (i) the previous day's settlement price for Gold futures contracts in the corresponding delivery month rounded off to the nearest five-dollar increment strike price unless such settlement price is precisely midway between two five-dollar increment strike prices in which case it shall be rounded off to the lower five-dollar increment strike price and (ii) the forty five-dollar increment strike prices which are forty increments higher than the strike price described in (i) of this rule 1067.04(A) and (iii) the forty five-dollar increment strike prices which are forty increments lower than the strike price described in (i) of this rule 1067.04(A).
       
      (B) Thereafter, on any business day prior to the expiration of the option: (i) new consecutive five-dollar increment strike prices for both puts and calls will be added such that at all times there will be at least forty five-dollar increment strike prices above and below the at-the-money strike price available for trading in all option contracts;
       
      (C) Notwithstanding the provisions of subsections (A) and (B) of this rule, if the Exchange determines that trading in Short-Term Gold option will be facilitated thereby, the Exchange may, by resolution, change the increments between strike prices, the number of strike prices which shall be traded on the first day in any new option contract month, the number of new strike prices which will be introduced on each business day or the period preceding the expiration of a Short-Term Gold option in which no new strike prices may be introduced.
       
       
      Information Contacts
      CMEGroup.com Inquiries
      Customer Service
      (800) 331-3332
      General Information
      Products & Services
      (312) 930-8213
       
      Clearing House
      (312) 207-2525
      Globex Information
      Globex Control Center
      (312) 456-2391
      Performance Bond Information
      Risk Management Dept.
      (312) 648-3888
      Position Limits
      Market Regulation
      (312) 341-7970
      Clearing Fees
      Clearing Fee Hotline
      (312) 648-5470

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

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