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The following April 2008 option contracts on the Chicago Climate Futures Exchange will officially expire this month:
Clearing participants should note that all option positions that are in-the-money will be automatically exercised. Clearing participants that wish to submit an exercise cancellation instruction or an out-of-the-money exercise instruction can do so prior to the 5:00 p.m. expiration deadline through Position Management. Please note; an authorization code is required when submitting special option instructions through Position Management. Clearing participants that need to verify their authorization code can do so by contacting Client Services and Support at (312) 786-5718. Clearing participants are reminded that all unmatched transfer and give-up transactions for expiring option contracts should be reconciled prior to the 5:00 p.m. deadline on the last day of trading. To aid clearing participants in the reporting of final open interest in expiring options contracts as well as the verification special option instructions, TCC will provide clearing participants with the following reports through Web Report Distribution:
A column that appears within these reports titled ‘Current Positions’ will display a clearing participant’s current gross position within each contract. These positions are calculated by using the applicable clearing participant’s incoming position and adding the current day’s gross trading activity to this position. Clearing participants can compare the current calculated position against the positions the clearing participant intends to report as Final Open Interest either via FTP or through Position Management. If a clearing participant determines that an open interest reporting discrepancy exist should contact Client Services and Support at (312) 786-5718.
Should you have any questions, please call or e-mail one of the following Client Services and Support Representatives:
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