Topics in this issue include:

      System Updates

·         FECPlus Phase 2: Electronic Trade Migration (ETM) *UPDATE* - November 2, 2014

      Deliveries

·         CME Group Delivery Dates for November 2014

·         2014 Approved List of Live Cattle Stockyards & Slaughter Plants

      Events & Announcements

·         NEW: Product Modification - Listing Cycle for Urea Swap Yuzhny (UFZ)

·         NEW: Product Modification Summary: Extend listing schedule for AUP on CME Globex – November 9, 2014

·         Product Modification Summary: Change Minimum Price Increments In CME Bundle Futures and Bundle – Sunday, November 9, 2014

·         HOLIDAY SCHEDULE: Veteran’s Day – November 11^th, 2014

·         OTC Holiday Advisory- Veterans Day

·         Cash Interest Pass-Through & Collateral Fees, January 2, 2015

·         Contact Information

Deliveries

CME Group Delivery Dates for November 2014

Listed here are the relevant delivery dates for the November 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.

NEW: Product Modification - Listing Cycle for Urea Swap Yuzhny (UFZ)

Effective Sunday, November 2, 2014 for trade date Monday, November 3, 2014, the Chicago Mercantile Exchange, Inc. (CME or EXCHANGE) will reduce the number of listed months for Urea FOB Yuzhny Swaps (Clearing Code UFZ).  Specifically, the number of listed months will reduce from the current 12 months to 6 months on the CME Trading Floor and for submission for clearing on CME ClearPort. All expirations listed after April 2015 will be delisted as of trade date November 3, 2014 and then relisted at the appropriate time.

NEW: Product Modification Summary: Extend listing schedule for AUP on CME Globex – November 9, 2014

Effective Sunday, November 9, 2014 for trade date Monday, November 10, 2014, and pending all relevant CFTC regulatory review periods, please be advised that the New York Mercantile Exchange will expand the Globex listed contract months for the product listed below on CME Globex.

Product Modification Summary: Change Minimum Price Increments In CME Bundle Futures and Bundle – Sunday, November 9, 2014

Effective Sunday, November 9, 2014, for trade date Monday, November 10, 2014, and pending all relevant CFTC regulatory review periods, please be advised that the Chicago Mercantile Exchange Inc. (CME or EXCHANGE) will amend the minimum price increment for Eurodollar Bundle futures and options.  The minimum trading tick is changing from 0.005 points to 0.0025 points. There are no DPL changes.

For the full text of this advisory, please click here.

HOLIDAY SCHEDULE: Veteran’s Day – November 11^th, 2014

Please reference the REVISED holiday processing schedule (linked here) for Tuesday, November 11, 2014 in observance of Veteran’s Day.

OTC Holiday Advisory- Veterans Day

On Tuesday, November 11, 2014 (Veterans Day), CME Clearing will be open to clear trades. Due to the holiday, however, there will be several impacts to CME Clearing’s processing and trade submission timelines for OTC products. For REVISED details on these impacts, please see the tables in this link.

Cash Interest Pass-Through & Collateral Fees, January 2, 2015

On January 2, 2015, the CME Inc. Clearing House (“CME Clearing”) will institute changes to its collateral acceptance program which will result in clearing members being charged for the below asset types when posting collateral to meet client and house performance bond requirements. CME Clearing has decided to charge these fees due to the custody costs applied to CME Clearing by its custodians and liquidity costs associated with recently implemented CFTC clearing house regulations.

CME will impose a fee of 4 basis points (annualized) on the below asset types used to meet client and house performance bond requirements. For clearing members that are eligible* to participate in CME Clearing’s committed credit facility (directly or through an affiliate) and do so, CME will impose a reduced fee of 1 basis point (annualized). For clearing members that are not eligible, and do not have any affiliates that are eligible, to participate in CME Clearing’s committed credit facility, CME will impose a reduced fee of 1 basis point (annualized).

Example: A 4 basis point fee on $100 of collateral on deposit would equal 4 cents per annum in fees and a 1 basis point fee on $100 in collateral on deposit would equal 1 cent per annum in fees. 

These fees will apply to collateral posted to meet performance bond requirements for both client and house accounts. No fees will be imposed on collateral in excess of performance bond requirements.

Asset Types Subject to New Fee Schedule:

• Exchange Traded Funds
• Foreign Sovereign Debt
• Mortgage Backed Securities
• Stocks
• Treasury Inflation Protection Securities
• U.S. Treasury Securities
• U.S. Government Agency Securities
• U.S. Treasury STRIPS

Fees will be calculated on daily balances and charged monthly.

Please note, CME Clearing currently charges fees for the below asset types used to meet performance bond requirements and is not changing those fees.

Asset Types Subject to Existing Fee Schedule:

• Corporate Bonds (IEF4)
• Gold

CME will also begin passing through interest on US dollar cash posted as collateral to meet performance bond requirements (excluding CME/OCC cross margin accounts), guaranty fund requirements, and clearing membership requirements. CME will pass through interest on US dollar cash deposits using a rate published on CME Group’s website.  Interest will be calculated on daily balances and paid monthly. 

For questions regarding the fee schedule, interest pass through or committed credit facility, please contact Suzanne Sprague (312-930-3260; suzanne.sprague@cmegroup.com) or Bryan McBlaine (312-338-2469; bryan.mcblaine@cmegroup.com).

*Eligible clearing members will receive invitations to participate in the committed credit facility during the annual renewal process during the second half of each calendar year.

Contact Information