VOLUME 22 - BULLETIN #003
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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January 7, 2002
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SUBJECT:
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CBOT X-Fund Futures
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Effective February 1, 2002, the Chicago Board of Trade (CBOT) will begin trading the X-Fund Futures contracts. Contract specifications and trading information are detailed below.
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X-Fund Futures
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Exchange Code
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01
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Commodity Code
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X1, X2, and X3 for CBOT X-Fund Index X
Y1, Y2, and Y3 for CBOT X-Fund Index Y
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Trading Unit
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$1,000 times the CBOT X-Fund Index, for par value of $100,000.
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Standards
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A CBOT X-Fund Index structured on a maximum of any four eligible futures contracts long and/or short
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Clearing Price Format
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Actual: 100.10
7 Digit: 0100100
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Tick Size:
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One-tenth (1/10) of one point, or $100 per tick
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Daily Price Limit
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None.
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Contract Months
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Trading in the X-Fund futures may be conducted in the current two-week period only; therefore, only one of the three commodity codes for each Index will be trading at a time.
X1 and Y1 expire on either the first or second Thursday of the month, depending on when the contract began trading.
X2 and Y2 begin trading the following day and expire on either the third or fourth Thursday of the month two weeks later. If another two week period remains in the month then X3 and Y3 will begin trading and expire on the fifth Thursday of the month. Otherwise, X1 and Y1 begin trading and expire in the next month.
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First Trading Day
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Friday designated by the Exchange
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Last Trading Day
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Thursday two weeks following the commencement of trading
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Settlement
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The value of the CBOT X-Fund Index on the last trading day.
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Delivery Method
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Cash settled.
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Trading Hours
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Open Outcry: 9:30 a.m. – 1:15 p.m. CST, Monday-Friday except on last trading day the closing time is 3:15 p.m.
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Position Limits
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5,000
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Reportable Positions
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25
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Ticker Symbol
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X1, X2, and X3 for CBOT X-Fund Index X
Y1, Y2, and Y3 for CBOT X-Fund Index Y
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Should you have any questions, please call or e-mail one of the following Business Systems Analysts:
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