• CME Clearing Hurricane Sandy Update

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      • Clearing Member Firms
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      • CME Clearing
      • #
      • 12-464
      • Notice Date
      • 29 October 2012
      • Effective Date
      • 29 October 2012
    • CME Group will reopen its U.S. equity index futures and options on futures markets today at 5:00 p.m. CT for overnight electronic trading.  The equity index markets will close tomorrow morning October 30, at 8:15 a.m. CT for both the trading floor and CME Globex in coordination with the announced closure of the U.S. equity markets because of Hurricane Sandy.   CME Clearing will carry forward Friday’s settlement prices for mark-to-market purposes of these overnight trades and incoming positions for its end-of-day and intra-day clearing cycles.    Based on market conditions, CME Clearing reserves the right to call for additional margins as a prudent risk management action to cover exposures from expected increased market volatility.
      CME Group’s interest rate futures and options on futures including Treasury, Eurodollar and Fed Funds will reopen at 5:00 p.m. CT today and resume normal trading hours, including remaining open tomorrow, October 30.  The re-opening for interest rate markets applies to both trading floor and CME Globex venues.
      Tonight, CME Clearing will process a standard end-of-day clearing cycle and tomorrow it will process a standard intra-day cycle.    Additionally, all Money Market Funds on the IEF2 platform will be closed for trading on Tuesday October 30, in accordance with a SIFMA recommendation.  Therefore, CME Clearing will not process purchases or redemptions of these funds.
      In addition, as a result of New York City’s continued mandatory evacuation of Zone A, which includes CME Group's NYMEX World Headquarters and New York trading floor, the New York floor will be closed on Tuesday, October 30.  All New York floor-traded products will be available on ClearPort as well as CME Globex during their regular market hours. 
      All other CME Group futures and options on futures markets will remain open.
      We will continue to monitor the situation as well as continue our coordination with other exchanges and will keep you updated as information becomes available.  For additional information about specific markets and settlement procedures, please visit www.cmegroup.com.    


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