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CME Clearing Notice: Monday, February 17, 2014
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- To
- Clearing Member Firms
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- From
- CME Clearing
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- #
- 14-078
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- Notice Date
- 21 February 2014
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- Effective Date
- 21 February 2014
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Topics in this issue include:
· NEW: Corrections in FEC+ for PIT Transactions / Exchange Fees
· CME Group Delivery Dates for February 2014
· 2014 Approved List of Live Cattle Stockyards & Slaughter Plants
· 1st Quarter 2014 Eligible Stocks Advisory (Data from October 1, 2013-December 31, 2013)
· Guaranty Fund Asset Acceptance Changes
Critical System Updates
NEW: Corrections in FEC+ for PIT Transactions / Exchange Fees
As you are aware, a void or correction is allowed to occur up to four business days after the original trade has cleared through Front-End Clearing (FEC). Currently, with respect to PIT transactions, when correction functionality is leveraged through FEC+, there are no offsets of Exchanges Fees applied within the Exchange Fee System (EFS). Instead a Clearing Member Firm must submit a manual rebate request, to CME Group’s fee administration staff.
Effective February 28, 2014, the Exchange Fee System will systematically offset the Exchange Fees incurred on PIT transactions for all product exchanges (CME, CBOT, and NYMEX/COMEX) when the following FEC+ correction functionality is leveraged. Step by step details are reflected in the advisory notice.
Deliveries
CME Group Delivery Dates for February 2014
Listed at this link are the relevant delivery dates for February 2014 Chicago Mercantile Exchange Inc., Chicago Board of Trade, NYMEX, COMEX, and DME contracts.
2014 Approved List of Live Cattle Stockyards & Slaughter Plants
The attached Stockyards and Slaughter Plants have been approved for deliveries against the CME Group Live Cattle futures contract from February 1, 2014 through January 31, 2015. Delivery point information and contact numbers are listed for your reference.
See the full advisory.
If there are any questions, please contact the Deliveries Unit at (312) 930-3172.
Events & Announcements
1st Quarter 2014 Eligible Stocks Advisory (Data from October 1, 2013-December 31, 2013)
Please view the advisory about this topic. The list of 1st Quarter 2014 Eligible Stocks can be found at this link.
Guaranty Fund Asset Acceptance Changes
CME currently administers three different guaranty funds for IRS, CDS, and “Base” products. In conjunction with the new CFTC Regulation 39.33, CME plans to amend the types of collateral eligible to meet guaranty fund requirements in an effort to align composition with the CFTC’s definition of qualifying liquidity resources.
Pending regulatory review, effective April 1, 2014, the following asset types will be acceptable collateral for any CME Clearing guaranty fund.
Acceptable Guaranty Fund Collateral
- USD cash
- U.S. Treasury Bills/Notes/Bonds *
* (Time to maturity not to exceed 10 years)
For more information, please contact CME Clearing Financial Unit at 312-207-2594 or CME Clearing Risk Unit at 312-648-3888.
Contact Information
CME Group Contacts
cmegroup.com Inquiries
Customer Service
(800) 331-3332
General Information
Products & Services
(312) 930-8213
Clearing House
(312) 207-2525
CME Globex Information
CME Global Command Center
(312) 456-2391
Global Account Management
U.S.
(312) 634-8700
Europe
44 203 379 3754
Asia
65 6593 5574
Performance Bond Information
Risk Management Dept.
(312) 648-3888
Position Limits
Market Regulation
(312) 341-7970
Clearing Fees
Clearing Fee Hotline
(312) 648-5470
Risk Management
Risk Management Hotline
(312) 634-3888
Collateral
Financial Unit Hotline
(312) 207-2594
Deliveries
Deliveries Unit
(312) 930-3172
Clearing Customer Service
(312) 207-2525
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