• Listing of the Existing Copper Financial Futures Contract on the CME Globex Trading Platform

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-7376R
      • Notice Date
      • 11 June 2015
      • Effective Date
      • 22 June 2015
    • (This SER supersedes SER 7376 dated June 1, 2015 to reflect revised language in COMEX Rule 589 (Special Price Fluctuations) for the Copper Financial Futures contract.)

       

      Effective Monday, June 22, 2015 for trade date Tuesday, June 23, 2015, and pending all relevant regulatory review periods, Commodity Exchange, Inc. (“COMEX” or “Exchange”) will list the existing Copper Financial Futures contract on the CME Globex trading platform.

       

      This contract will also continue to be available for clearing through CME ClearPort with an unchanged listing schedule.

       

      The CME Globex trading hours for these contracts will be: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT).

       

       

       

      Contract Title

      Rule Chapter

      Clearing Code

      CME Globex Code

      CME Globex Listing Schedule

      Copper Financial Futures

      1190

      HGS

      HGS

      23 consecutive months

       

      Also at this time, the Exchange will amend COMEX Rule 589 (Special Price Limit Fluctuation) to include the Copper Financial Futures contract.

       

      The affected metals contracts which are subject to COMEX Rule 589 are as follows:

       

      Metals Product

      COMEX Rulebook Chapter

      Commodity Code

      Primary or Associated Contract

      Copper Financial Futures

      1190

      HGS

      Associated

       

       

      Appendix A: NYMEX Rule 588.H. (blackline format)

      Appendix B: Special Price Fluctuations Limits Table COMEX Rule 589 (blackline format)

      Appendix C: Exchange Fees

       

       

       

      Questions regarding this notice may be directed to:

      Elizabeth Hui          +1 212 299 2623     Elizabeth.Hui @cmegroup.com

      Joann Arena                                         +1 212 299 2356                                 Joann.Arena @cmegroup.com     

       

      Appendix A

       

                  NYMEX Rule 588.H. - Non-Reviewable Range Table

      (additions are underscored)

       

       

      Instrument

      Non-Reviewable Range (NRR) in Globex format

      NRR including Unit of Measure

      NRR Ticks

      Copper Financial Futures

      400

      $.04 per pound

      400

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      Appendix B

       

       

      Amendments to the Special Price Fluctuation Limits Table in

      COMEX Rule 589

      (additions are underscored)

       

       

      Instrument

      Rulebook Chapter

      Commodity Code

      Primary/ Associated

      Associated With

      Level 1

      Level 2

      Level 3

      Level 4

      Level 5

      Copper Financial Futures

      1190

      HGS

      Associated

      HG

      4000

      8000

      12000

      16000

      No Limit

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      Appendix C

       

       

      FEE SCHEDULE

       

       

      Contract Title

      Code

      Copper Financial Futures

      HGS

       

       

      CME Globex

      Member Day Rate

      0.95

      Member Overnight Rate

      0.95

      Cross Division Rate

      1.45

      Non-Member Rate

      1.95

      International Incentive Program (IIP)

      1.45