• Effective Dates for September 2012 Spot Month and Step Down Position Limits

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • CME Group RA1207-5R
      • Notice Date
      • 16 August 2012
      • Effective Date
      • 16 August 2012
    • This Advisory Notice is being reissued to reflect the correct spot month limits for mini Corn, mini Wheat and mini Soybeans.
       
      The following tables set forth the spot month and step down speculative position limits and the associated effective dates for all September 2012 CME and CBOT contracts and for core September 2012 NYMEX and COMEX contracts. 
       
      For the following products, the spot month limits are effective at the close of business on the dates listed:

      Exchange
      Commodity Code
      Product
      Effective Trade Date
      (Close of Trading)
      Spot Month Limit
      CBT
      C
      CORN
      08/30/2012
      600
      CBT
      YC
      MINI CORN
      08/30/2012
      3,000
      CBT
      W
      WHEAT
      08/30/2012
      600
      CBT
      YW
      MINI WHEAT
      08/30/2012
      3,000
      CBT
      BSW
      BLACK SEA WHEAT
      08/01/2012
      1,000
      CBT
      S
      SOYBEAN
      08/30/2012
      600
      CBT
      YK
      MINI SOYBEAN
      08/30/2012
      3,000
      CBT
      06
      SOYBEAN MEAL
      08/30/2012
      720
      CBT
      07
      SOYBEAN OIL
      08/30/2012
      540
      CBT
      EH
      ETHANOL
      08/30/2012
      200
      CBT
      O
      OATS
      08/30/2012
      600
      CBT
      14
      ROUGH RICE – initial step down
      08/30/2012
      600
      CBT
      14
      ROUGH RICE – second step down1
      09/07/2012
      250
      CBT
      UBE
      ULTRA T-BOND
      09/05/2012
      50,000
      CBT
      17
      30-YR BOND
      09/05/2012
      25,000
      CBT
      21
      10-YR NOTE
      09/05/2012
      95,000
      CBT
      25
      5-YR NOTE
      09/14/2012
      115,000
      CBT
      3YR
      3-YR NOTE
      09/14/2012
      20,000
      CBT
      26
      2-YR NOTE
      09/14/2012
      50,000
      CBT
      DDG
      DISTILLERS DRIED GRAIN
      08/30/2012
      200
      CBT
      DFL
      DAP FOB NOLA SWAP
      09/24/2012
      250
      CBT
      DFT
      DAP FOB TAMPA SWAP
      09/24/2012
      250
      CBT
      UFG
      UREA (GRANULAR) FOB EGYPT SWAP
      09/24/2012
      250
      CBT
      UFN
      UREA (GRANULAR) FOB U.S. GULF SWAP
      09/24/2012
      250
      CBT
      UFU
      UAN FOB NOLA SWAP
      09/24/2012
      200
      CBT
      UFZ
      UREA (PRILLED BULK) FOB YUZHNY SWAP
      09/24/2012
      250
      CME
      62
      FEEDER CATTLE2
      09/13/2012
      300
      CME
      CB
      BUTTER (CASH STLD)
      09/25/2012
      100
      CME
      DY
      DRY WHEY
      9/25/2012
      200
      CME
      ISM
      INTL SKIMMED MILK POWDER
      9/12/2012
      500
      CME
      LB
      LUMBER
      09/04/2012
      435
      CME
      NF
      CASH NONFAT DRY MILK
      09/25/2012
      100
      NYMEX
      CL
      NYMEX CRUDE OIL (PHYSICAL)
      08/16/2012
      3,000
      NYMEX
      HO
      NYMEX HEATING OIL (PHYSICAL)
      08/28/2012
      1,000
      NYMEX
      NG
      NATURAL GAS HENRY HUB (PHYSICAL)
      08/24/2012
      1,000
      NYMEX
      PA
      NYMEX PALLADIUM FUTURES
      08/30/2012
      650
      NYMEX
      PL
      NYMEX PLATINUM FUTURES
      08/30/2012
      500
      NYMEX
      RB
      NYMEX NY HARBOR GAS (RBOB) (PHY)
      08/28/2012
      1,000
      COMEX
      GC
      COMEX 100 GOLD
      08/30/2012
      3,000
      COMEX
      HG
      COMEX COPPER
      08/30/2012
      1,200
      COMEX
      SI
      COMEX SILVER
      08/30/2012
      1,500

      1    Second step down of 250 is only applicable with the September futures contract.
      2    Hedge exemptions are not applicable at expiration.
       
      For the following products, the spot month limits are effective at the start of business on the dates listed:

      Exchange
      Commodity Code
      Product
      Effective Trade Date
      (Start of Trading)
      Spot Month Limit
      CME
      CZ
      CZECH KORUNA (US)
      09/10/2012
      2,000
      CME
      K
      CZECH KORUNA (EC)
      09/10/2012
      2,000
      CME
      FR
      HUNGARIAN FORINT (US)
      09/10/2012
      2,000
      CME
      R
      HUNGARIAN FORINT (EC)
      09/10/2012
      2,000
      CME
      IS
      ISRAELI SHEKEL
      09/10/2012
      2,000
      CME
      KRW
      WON/USD FUT
      09/10/2012
      2,000
      CME
      MP
      MEXICAN PESO
      09/12/2012
      20,000
      CME
      PZ
      POLISH ZLOTY (US)
      09/10/2012
      2,000
      CME
      Z
      POLISH ZLOTY (EC)
      09/10/2012
      2,000
      CME
      RA
      S. AFRICAN RAND
      09/10/2012
      5,000
      CME
      RMB
      CHINESE RENMINBI (USD)
      09/11/2012
      2,000
      CME
      RME
      CHINESE RENMINBI (EURO)
      09/11/2012
      2,000
      CME
      RMY
      CHINESE RENMINBI (JY)
      09/11/2012
      2,000
      CME
      RU
      RUSSIAN RUBLE
      09/10/2012
      2,000
      CME
      TRE
      TURKISH LIRA/EURO
      09/11/2012
      2,000
      CME
      TRY
      TURKISH LIRA/USD
      09/11/2012
      2,000

       
      Please refer to the “Position Limit, Position Accountability, and Reportable Level Table” (“Table”) in Chapter 5 of each Exchange’s rulebook and the applicable product chapter for further information regarding the aggregation of contracts for position limit purposes with respect to these contracts. The
       
      Tables also should be consulted for the applicable spot month limits and associated effective dates for NYMEX and COMEX contracts not listed above. 
       
      Market participants carrying concurrent long and short positions in physically delivered contracts should be cognizant of the requirements of each Exchange’s Rule 854.B. concerning restrictions on the manner in which positions may be offset.
       
      Market participants are further reminded that position limits apply to intraday positions as well as end-of-day positions.
       
       
      Questions regarding this advisory may be directed to the following individuals in Market Regulation:
       
      For CME & CBOT Products:
      Cindy Pender, Analyst, at 312.435.3539
      Sandra Valtierra, Manager, at 312.347.4137
      Bill Lange, Senior Director, at 312.341.7757
      Bill Kokontis, Senior Director, at 312.435.3665
       
      For NYMEX & COMEX Products:
      Ryne Toscano, Supervisor, at 212.299.2879
      Chris Reinhardt, Director, at 212.299.2882
      For media inquiries concerning this Advisory Notice, please contact CME Group Corporate Communications at 312.930.3434 or news@cmegroup.com

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2024 CME Group Inc. All rights reserved.