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RESTRICTED CONTRACT MARKETS FOR CME RULE 552 (DUAL TRADING RESTRICTIONS)
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- To
- Members, Member Firms and Market Users
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- From
- Market Regulation Department
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- #
- SER-5230
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- Notice Date
- 07 May 2010
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- Effective Date
- 07 May 2010
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CME Group has approved the following list of restricted markets and procedures for the implementation of CME Rule 552 (“Dual Trading Restrictions”), effective for the remainder of the second quarter and the beginning of the third quarter 2010.
Please note that as of June 1, 2010, the dual trading restrictions will become applicable to sixth contract month position quarterly cycle Eurodollar options, 3rd contract month position quarterly cycle MidCurve options and 2nd contract month position serial MidCurve options.
• EURODOLLAR OPTIONS: Dual trading is restricted in the following contract month positions, up to but not including the last five business days of the contract month:
o First, second, third, fourth, fifth contract month position ED quarterly options.
· Sixth contract month position ED quarterly options beginning June 1, 2010.
o First and second serial month ED options.
o First and second contract month position quarterly cycle One-Year ED MidCurve options.
· Third contract month position quarterly cycle One-Year ED MidCurve options beginning June 1, 2010.
o First position serial month One-Year ED MidCurve options.
· Second position serial month One-Year ED MidCurve options beginning June 1, 2010.
• S&P 500® INDEX OPTIONS: Dual trading is restricted in the first quarterly contract month position S&P 500 options and the first serial contract month position S&P 500 options, up to but not including the last five business days of the contract month.
CME Group regularly reviews historical volume data in order to determine those contracts and contract months deemed mature and liquid pursuant to CME Rule 552. Any new restrictions on dual trading will occur only after prior notice has been provided to shareholder/members.
Please see the reverse side of this document for information on the date ranges during which dual trading is restricted in each of the restricted contract months.
EFFECTIVE DATES OF DUAL TRADING RESTRICTIONS ON CME PRODUCTS
The following schedule details the effective periods of the dual trading restrictions by contract month for CME products.
----DUAL TRADING RESTRICTION----
CME Product
Contract Month
Restricted Dates
Date Lifted
Termination of Trading Date
ED Options
Jun 2010
12/16/08
To
6/7/10
6/8/10
6/14/10
(Quarterlies)
Sep 2010
6/16/09
To
9/3/10
9/7/10
9/13/10
Dec 2010
9/15/09
To
12/6/10
12/7/10
12/13/10
Mar 2011
12/15/09
To
3/7/11
3/8/11
3/14/11
Jun 2011
3/15/10
To
6/6/11
6/7/11
6/13/11
Sep 2011
6/1/10
To
9/2/11
9/6/11
9/12/11
Dec 2011
9/15/10
To
12/5/11
12/6/11
12/12/11
ED Options
May 2010
2/16/10
To
5/7/10
5/10/10
5/14/10
(Serials)
Jul 2010
4/19/10
To
7/9/10
7/12/10
7/16/10
Aug 2010
5/17/10
To
8/13/10
8/16/10
8/20/10
1-Yr. MidCurve Options
(Quarterlies)
Sep 2010
3/8/10
To
9/10/10
9/13/10
9/17/10
Dec 2010
6/13/10
To
12/10/10
12/13/10
12/17/10
Mar 2011
6/1/10
To
3/11/11
3/14/11
3/18/11
Jun 2011
12/20/10
To
6/10/11
6/13/11
6/17/11
1-Yr. MidCurve Options
(Serials)
May 2010
4/19/10
To
5/7/10
5/10/10
5/14/10
Jul 2010
5/17/10
To
7/9/10
7/12/10
7/16/10
Aug 2010
6/1/10
To
8/13/10
8/16/10
8/20/10
SP Options
(Quarterlies)
Jun 2010
3/19/10
To
6/10/10
6/11/10
6/17/10
Sep 2010
6/18/10
To
9/9/10
9/10/10
9/16/10
Dec 2010
9/17/10
To
12/9/10
12/10/10
12/16/10
SP Options
(Serials)
May 2010
4/16/10
To
5/13/10
5/14/10
5/20/10
Jul 2010
5/21/10
To
7/8/10
7/9/10
7/15/10
Aug 2010
7/16/10
To
8/12/10
8/13/10
8/19/10
If you have any questions regarding the dual trading restrictions, please contact Shantell Stanberry, Senior Data Quality Analyst, Market Regulation, at 312.435.3642 or Lou Abarcar, Associate Director, Market Regulation, at 312.341.3236.
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