• EXCHANGES ADOPT RULE 819. LIEN ON COLLATERAL

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-5888
      • Notice Date
      • 16 August 2011
      • Effective Date
      • 10 August 2011

    • Effective August 10, 2011, CME, CBOT and NYMEX Rule 819. (Lien on Collateral) was adopted and became effective.

      Existing CME, CBOT and NYMEX Rule 902.F provides that "[e]ach Clearing Member hereby grants to the Clearing House a first priority and unencumbered lien against all memberships required for clearing membership by the Exchange." Other rules in Chapters 8 and 9 address the Clearing House’s security interest in Clearing Member's guaranty fund and performance bond deposits but do not contain the express language as appears in Rule 902.F.

      For the full Special Executive Report, please click here (PDF).

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