VOLUME 20 - BULLETIN #327
TO:
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ALL CLEARING MEMBERS
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FROM:
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BUSINESS SYSTEMS GROUP
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DATE:
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November 21, 2000
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SUBJECT:
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The Merchants Exchange of St. Louis Illinois Waterway Contract
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The Merchants Exchange of St. Louis has determined Friday, December 8, 2000 as the first day of trading in the Waterway Contract. The Illinois Waterway Contract will be electronically traded. Trading in all months shall be conducted between the hours of 8:30 a.m. and 3:15 p.m. Contract specifications and trading information are detailed below.
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FUTURES
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Exchange Code:
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03
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Commodity Code:
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M1
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Price Quotation:
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1/10 of a Percentage Point of St. Louis Harbor Tariff Rate between mile marker 179 and mile marker 244 ($5.07).
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Trading Unit:
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Two Barges (3000 Tons)
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Trade Entry Price Format:
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Actual Price = 5.070
7-Digit=0005070 5-Digit=05070
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Contract Months:
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12 Calendar Months
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Last Trading Day:
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The fifth business day of the delivery month
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Trading Hours:
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8:30 a.m. – 3:15 p.m. (CT) M-F
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Volume 20 – Bulletin #327
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First Position Day
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Day before last business day of the month preceding delivery month
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First Notice Day
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Last business day of the month preceding the delivery month.
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3 – Day Delivery Process
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Seller tenders delivery notice by 4:00 p.m. Deliveries are assigned by the oldest long date. On the second day (notice day), clearing will process the delivery transactions through clearing.
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Last Notice Day
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The fourth business day of the delivery month
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The Clearing Corporation will not keep any inventory and will not do any invoicing.
Should you have any questions, please call or e-mail one of the following Business Systems Analysts:
CBOT is a registered trademark of the Chicago Board of Trade.
Project A is a registered trademark of the Chicago Board of Trade
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