• Update 3: Hurricane Binary Options-Effective Sunday, March 30, 2008

      • To
      • Clearing Member Firms
      • From
      • CME Group Clearing
      • #
      • NP 08-01
      • Notice Date
      • 24 March 2008
      • Effective Date
      • 14 April 2008
    • Hurricane binary option contracts will pay the full contract value ($10,000) to the buyer if the combined CHI for all of the hurricanes during the season equals or exceeds a certain value (strike); otherwise, it pays nothing and the seller keeps the premium. The premium varies from $0 to $10,000, depending on the likelihood of the event.

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