VOLUME 23 – BULLETIN #168
TO:
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ALL CLEARING PARTICIPANTS
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FROM:
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CLIENT SERVICES AND SUPPORT
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DATE:
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December 23, 2003
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SUBJECT:
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Recalculation of Guaranty Fund Requirements
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On January 2, 2004, The Clearing Corporation (CCorp) will reduce the General Guaranty Fund requirement for Clearing Participants to the $200,000 minimum. On that date, Clearing Participants may withdraw any fund balance in excess of their minimum requirement. However, participants should be aware that their requirement could increase after the February 2, 2004 targeted launch of Eurex US based upon increases in trading volumes and open positions.
Clearing Participants that choose to withdraw excess funds on or after January 2, 2004 must fax a Guaranty Fund Cash Withdrawal Authorization form and/or a Guaranty Fund Securities Withdrawal form to Treasury Operations at 312-341-0293. Clearing Participants may submit such forms as early as Wednesday, December 31, 2003; however, funds will not be released until January 2, 2004. Clearing Participants that wish to complete a transfer on Friday, January 2, 2004 must submit the appropriate withdrawal form by no later than 8 a.m. that morning. The Guaranty Fund Withdrawal forms can be found in the Treasury Operations section of The Clearing Corporation’s Clearing Participants web page.
Questions regarding the release of excess guaranty funds can be directed to Steve Sanderson at (312) 986-3471 or steve.sanderson@clearingcorp.com.
Should you have any questions, please call or e-mail one of the following Client Services and Support Representatives:
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