• Modification of CME USD-Denominated Ibovespa Futures Expiration Day Trading Hours (commencing with the Expiring December 2012 Contract on Wednesday, December 12, 2012)

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6495
      • Notice Date
      • 10 December 2012
      • Effective Date
      • 12 December 2012
    • On Monday, December 3, 2012 BM&F Bovespa (“BVMF”) extended the end of its cash equity trading day from 5:00 p.m. to 5:30 p.m. Sao Paolo time, i.e. from 1:00 p.m. to 1:30 p.m. Chicago time.   As a result, the trading hours for the USD-Denominated Ibovespa Futures (“CME Ibovespa futures”) contract will be extended by 30 minutes to 1:30 p.m. CT commencing with the expiration of the December 2012 CME Ibovespa contract on Wednesday, December 12, 2012.  The purpose of extending the trading hours for the expiring December 2012 CME Ibovespa futures contract by 30 minutes on December 12, 2012 is to align the hours of trading of BVMF cash equity market trading with the hours of trading of the CME Ibovespa futures contract.
      The change in the BVMF cash equity market trading day also alters the timing of the three-hour window used by BVMF to calculate the final settlement price for CME’s Ibovespa futures contract on December 12, 2012, i.e. on the December 2012 contract’s expiration day.  The final settlement price for CME Ibovespa futures is based on the settlement price of the BVMF Ibovespa futures contract.  The three hour final settlement price window for the December 2012 BVMF Ibovespa futures contract will occur from 2:30 p.m. to 5:30 p.m. Sao Paolo time, i.e., 10:30 a.m. to 1:30 p.m. Chicago time. 
      For questions relating to the final settlement of CME USD-Denominated Ibovepsa futures please contact the CME Global Command Center at (+1)312-456-2391, in Europe at +44-20-7623-4708 or in Asia at +65-6223-1357