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VOLUME 22 – BULLETIN #027
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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February 11, 2002
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SUBJECT:
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Interest Earned on Mid-Day Variation Payments
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The Board of Trade Clearing Corporation rebates a portion of interest income earned on all clearing member cash held as original margin. This rebate is provided quarterly, and appears as a credit on the Clearing Member’s item bill. As part of the 2002 budget approved by the Board of Governors, effective January 1, 2002, the Clearing Corporation is no longer rebating interest earned on overnight investment of the 10% holdback from mid-day variation payments. Please contact David Thome at (312) 786-5702 for questions regarding changes to this program.
Should you have any questions, please call or e-mail one of the following Business Systems Analysts:
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