Clearing members, traders and trade checkers are advised to make adequate provisions for the U.S. Treasury Bond and Treasury Note Futures Options trade checking session next Friday afternoon. .

Per Rule 809D, fines of up to $3,000 may be imposed for failure to make adequate provisions for trade checking.  

Applicable times for option expiration are as follows: 

FRIDAY, January 25, 2008 

10:30 a.m. - Options Only Out Trade Report (BXTC730AP) reflects out trades for expiring options only and will be sent to firms at each intra-day out trade pass.  

 2:00 p.m. -TRADING IN THE EXPIRING OPTION HALTS.    

3:30 p.m. - The following reports will be made available via TCP/IP or INFOPAC.  

Options Expiration Summary Report (BXTP205) shows firms’ options positions by strike price along with final settlement; 

Broker Matched and Unmatched Reports (XTP080 AND XTP085) will be produced for the expiring options only; 

In the Money Report (BCPM580) will be available daily and shows in-the-money options based on settlements; 

Options Only Out Trade Report (BXTC730AP) reflects out trades for expiring options only and will be sent to firms at each intra-day out trade pass.  

3:45 p.m. - MANDATORY TRADE CHECKING SESSION ON THE FLOOR.  

4:30 p.m. - Updated Option Only Out Trade Report and Options Expiration Summary Report published. 

Corrections and adjustments submitted to the Clearing House.  

5:00 p.m. - Updated Option Only Out Trade Report and Options Expiration Summary Report published. 

5:15 p.m. - MANDATORY FINAL TRADE CHECKING SESSION ON THE FLOOR. Firms may not leave with unresolved items. 

6:00 p.m. - Deadline for exercise and automatic exercise cancellation to be submitted to the Clearing House. (NOTE: Unreconciled out trades will be busted.) 

7:00 p.m. – Clearing House processing 

After 10:00 p.m. - Option Exercise / Assignments Notice (BCPM650) will be distributed via TCP/IP or INFOPAC.