CME Harmonizes Threshold, Reporting And RFC Functionalities

CME Group is making the following modifications to CME and CBOT rules for interest rate products Modify Block Thresholds Block thresholds for regular trading hours (RTH) have been modified for selected interest rate futures and options and block rules have

By None

CME Group is making the following modifications to CME and CBOT rules for interest rate products:

-Modify Block Thresholds – Block thresholds for regular trading hours (RTH) have been modified for selected interest rate futures and options and block rules have been standardized where appropriate.

Block thresholds during European trading hours (12am-7am) will be half of regular trading hours (7am-4pm) and block thresholds during Asian trading hours (5pm-12am) will be one quarter of regular trading hours.

-Standardize Block Trade Reporting Time Requirements – For all interest rate products, block trade reporting time requirements will be 15 minutes during European and Asian hours and five minutes during regular trading hours.

-Implement Request-for-Cross (RFC) – CME Group will extend the RFC functionality currently employed for CME options products to all CBOT interest rate options executed on CME Globex.

The associated rule will allow for pre-execution communications in connection with electronic trading of these products and ensures transparency and competitive execution by requiring solicitation of interest from all market participants via request-for-quote prior to submission of the cross request.

These changes are intended to enhance the execution options of market participants and result in more standardized trading rules across all interest rate products.

L.D.

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