• Pre-Execution Communications

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • CME Group RA1404-5
      • Notice Date
      • 08 August 2014
      • Effective Date
      • 25 August 2014

    • On August 25, 2014, this Advisory Notice will supersede CME Group Market Regulation Advisory Notice RA1403-5 from May 23, 2014.  It is being issued based on changes to CME and CBOT Rule 539.C. concerning pre-execution communications.

      Pending all relevant regulatory review periods, effective on Sunday, August 24, 2014, for trade date Monday, August 25, 2014, the waiting time period between the entry of a Request for Quote (“RFQ”) and a Request for Cross (“RFC”) in CME and CBOT interest rate options will be increased from five (5) seconds to 15 seconds.

      Please refer to pages 9 – 12 for the complete texts of each Exchange’s Rule 539. 

      Please Click HERE to view the full advisory

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