Effective for trade date Thursday, 13 December 2007, the CME Group shall list for trading Binary Options on the Target Federal Funds Rate (“Fed Binaries”) that expire in June 2008.
The following table summarizes expiration months, last trading days, and expiration days for Fed Binaries listed for trading:
Expiration Month Last Trading Day & Expiration
January 2008 31 January 2008
March 2008 19 March 2008
April 2008 1 May 2008
June 2008 26 June 2008
The schedule for last trading day and expiration of Fed Binaries is governed by CBOT Regulation 2009.01:
2009.01 Last Day of Trading
The last day of trading in a Binary Option shall be the business day following the terminal day of the regularly scheduled FOMC meeting that determines the contract expiration month of said Binary Option (Regulation 2005.01 ).
The last day of trading for any given Binary Option shall be set by the Exchange on the basis of the most recently published FOMC meeting calendar as of the date that such Binary Option is listed for trading by the Exchange.
The last day of trading for said Binary Option, so determined, shall remain fixed, notwithstanding such changes to the schedule of meetings of the FOMC as may occur after said Binary Option has been listed by the Exchange for trading.
Inquiries should be addressed to the Corporate Development Department:
Daniel Grombacher 312-435-3787 daniel.grombacher@cmegroup.com
Jeff Kilinski 312-648-3871 jeff.kilinski@cmegroup.com
Frederick Sturm 312-347-5235 fredrick.sturm@cmegroup.com