Date: October 3, 2007
Recipients: Members and Independent Software Vendors
Authorized by: Jeffrey S. Hersh
Title: Reminder and Product Details: Options on Ethanol Futures Launch
Action Date: Friday, October 5, 2007
Recommended for: All Departments
Related Bulletins: Bulletin #75/2007
Attachment: n/a
SUMMARY:
The CBOT is scheduled to launch the Options on Ethanol Futures contract at 9:30 a.m. on Friday, October 5, 2007 on the Exchange’s electronic trading platform. The product symbol is OZE.
Please review and distribute the following product and clearing information to the appropriate staff at your firm. Additionally please make sure your Independent Software Vendor(s) and/or Member Developer(s) have prepared your trading application for this product.
Trading Hours:
The Options on Ethanol Futures contract will trade from 6:36 p.m. - 6:00 a.m. Central Time, Sunday- Friday and 9:30 a.m. to 1:15 p.m., Central Time, Monday – Friday.
Contract Specifications:
The contract specifications are available at:
http://www.cbot.com/cbot/pub/cont_detail/0,3206,1636+50515,00.html
Margins:
http://www.cbot.com/cbot/pub/page/0,3181,1041,00.html
Error Trade Policy:
http://www.cbot.com/cbot/pub/page/0,3181,1174,00.html
Outright Product Algorithm:
The Options on Ethanol Futures contract will use the Pro-Rata with Priority Algorithm with one minimum and ten maximum cap for priority. The complete list of product algorithms is available at: http://www.cbot.com/cbot/pub/page/0,3181,2000,00.html.
Clearing Code:
The Clearing Code for OZE is EH.
Minimum Reportable Position Level:
The minimum reportable position level is 25 contracts.
Position Limits:
The position limit is 1,000 contracts in a single month; 1,000 in all months combined.
Questions:
Please contact the following people with any new product related questions:
Price Format
Product Features
Jeffry Kuijpers 312-347-3951 Jeffry.Kuijpers@cmegroup.com
Please contact your Key Account Manager if you have any questions about this Bulletin.
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