Pending all relevant regulatory review periods, effective on Tuesday, August 19, 2014, CME, CBOT, NYMEX and COMEX will adopt revisions to Rule 854 (“Concurrent Long and Short Positions”) clarifying the time period during which the restriction on netting down concurrent long and short positions in physically-delivered contracts is applicable.
The revisions clarify that the net down prohibition in physically-delivered products subject to spot month position limits commences when those limits become effective. The restriction remains applicable during the entire time period that the spot month position limits are in effect for that particular product.
The revisions to Rule 854 appear below, with the additions underscored.
Questions concerning the revisions to Rule 854 may be directed to:
Erin Coffey, Market Regulation, 312.341.3286
Jon Farrimond, Market Regulation, +44.2033.793.966
For media inquiries concerning this Special Executive Report, please contact CME Group Corporate Communications at 312.930.3434 or firstname.lastname@example.org.