Copper Options: Remove Contrary Instructions

Effective Sunday, August 17, 2014 for trade date Monday, August 18, and pending all
relevant CFTC regulatory review periods, please be advised that the Commodity
Exchange, Inc.( EXCHANGE) will remove contrary instructions for Copper Options
(Clearing code: HX; Globex code HXE) beginning with the January 2015 contract.
 
Currently, Copper Options expire at 1:00 p.m. (New York prevailing time). Upon expiration, long
positions have until 4:30 p.m. (New York prevailing time) to issue “contrary instructions”, i.e
abandoning in-the-money or exercising out-of-the-money options.
 
Beginning with the January 2015 expiration, only in-the-money options will be exercised as
determined by the underlying futures settlement price for that day. All other options will be
abandoned.

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