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CME Group to Update Equity Price Limits and Harmonize Trading Hours
Effective Tuesday, January 1: Updated Daily Price Limits on Legacy CME Equity Index Products
To synchronize the daily price limits of our legacy CME equity index futures and options with the price limits of the cash markets, on January 1, 2008 (for trade date of Wednesday, January 2, 2008), the following changes will be implemented: | | Current Daily Price Limits | New Daily Price Limits
(Effective January 1, 2008) |
| Affected Equity Index Contracts | RTH | Overnight ETH | RTH | Overnight ETH |  S&P 500 and E-mini S&P 500
NASDAQ-100 and E-mini NASDAQ-100
E-mini NASDAQ Composite
E-mini NASDAQ Biotech
S&P MidCap 400 and
E-mini S&P MidCap 400
S&P 500/Citigroup Value
and S&P 500/Citigroup Growth
Russell 2000 and E-mini Russell 2000
S&P SmallCap 600 and
E-mini S&P SmallCap 600
SPCTRs | Four levels:
L1=5%
L2=10%
L3=15%
L4=20% | 5% | Three levels:
L1 =10%
L2 =20%
L3 =30% | 5% |
Effective Sunday, January 13: Harmonized Trading Hours on Dow Jones Equity Index Products
Legacy CBOT Dow Jones Index contracts will begin trading on the CME Globex platform on Sunday, January 13, 2008 (for trade date of Monday, January 14, 2008). Simultaneous with the migration to CME Globex, we will harmonize the Dow Jones Index contracts' trading hours with those of other CME Group equity contracts. | | Current Trading Hours | New Trading Hours
(Effective January 13, 2008) |
| | Floor (RTH) | Electronic (ETH) | Floor (RTH) | Electronic (ETH) | E-mini Dow ($5)
Futures and
Options | n/a | 6:15 p.m.
to 4:00 p.m.
next day | n/a | Mon/Thu
3:30 p.m. to 4:30 p.m.
and 5:00 p.m. to 3:15 p.m. next day,
shut down period 4:30 p.m. to 5:00 p.m.
Sun & Holidays
5:00 p.m. to 3:15 p.m. | Dow ($10)
Futures and
Options | 7:20 a.m.
to 3:15 p.m. | 6:15 p.m.
to 7:00 a.m.
next day | 8:30 a.m.
to 3:15 p.m. | Mon/Thu
3:30 p.m. to 4:30 p.m.
and 5:00 p.m. to 8:15 a.m. next day,
shut down period 4:30 p.m. to 5:00 p.m.
Sun & Holidays
5:00 p.m. to 8:15 a.m. | BIG Dow ($25)
Futures | n/a | 6:15 p.m.
to 4:00 p.m.
next day | n/a | Mon/Thu
3:30 p.m. to 4:30 p.m.
and 5:00 p.m. to 3:15 p.m. next day,
shut down period 4:30 p.m. to 5:00 p.m.
Sun & Holidays
5:00 p.m. to 3:15 p.m. | Dow Jones
US Real Estate
Futures | n/a | 6:15 p.m.
to 4:00 p.m.
next day | n/a | Mon/Thu
3:30 p.m. to 4:30 p.m.
and 5:00 p.m. to 3:15 p.m. next day,
shut down period 4:30 p.m. to 5:00 p.m.
Sun & Holidays
5:00 p.m. to 3:15 p.m. |
Overnight daily price limit change on legacy Dow Jones Index contracts
On January 13, 2008, CME Group will change the overnight price limit for the Dow Jones Index contracts from the current limit of 10% to 5%, which is consistent with other CME Group equity index products. For more information, visit www.cme.com/equities. | | Expanded S&P Contracts - Actionable Opportunities for the Small- and Mid-Cap Markets
Looking to take part in the active small- and mid-cap U.S. equity markets? Expanded CME Group futures and options on leading S&P SmallCap 600 and S&P MidCap 400 indexes provide actionable ways to tap into those opportunities.
Capitalize on Attractive Market Depth and Bid/Ask Spreads E-mini S&P SmallCap 600 futures
Click to enlarge
E-mini S&P MidCap 400 futures
Click to enlarge
Source: Bloomberg, November 28, 2007
Dedicated market makers continuously quoting two-sided markets as well as waived clearing, block trading and CME Globex fees for standard- and E-mini S&P SmallCap 600 futures further enhance the opportunities these products offer.
Free live quotes on E-mini S&P MidCap 400 options have been added to the real-time E-mini options quotes page. To view them, visit www.cme.com/eminioptions Size Up the Opportunities: Index Comparisons
Open interest in S&P MidCap 400 futures is up more than 20% since end of August 2007, providing trading opportunities from positive YTD price returns and significant 20-day historical volatility.
The S&P SmallCap 600 Index offers comparable diversification and volatility with a better YTD price return
to the Russell 2000.
The NASDAQ-100 Index provides additional diversification potential, with positive YTD price returns and higher volatility. 
For more information, contact the CME Group Equity Products team at info@cmegroup.com or visit www.cme.com/equities. Russell Products Update
CME Group continues to average more than a 99% market share for futures and options on Russell 2000 indexes. We will continue to list E-mini Russell 2000 contracts through end of the September 2008 contract month. 
Data through November 23, 2007
To help you transition small-cap open interest from the Russell 2000 products to E-mini S&P SmallCap 600 futures, we offer the SMC-ER2 InterCommodity Spread. Learn more about this spread here. | | | | CME Group Equity Products: By the Numbers Index Comparisons
Key Highlights:
ADV for E-mini products was 3.4 million contracts in November 2007, up 89% from the previous year; standard equity index products were up 21% YOY.
MSCI products: E-mini MSCI Emerging Markets reached record open interest of 3,284 positions on December 12, 2007 and record volume of 1,618 contracts on November 13, 2007. The product launched in late October.
In November, E-mini Dow ($5) futures and E-mini S&P 500 futures each had second highest monthly ADVs in their history, at 230,440 contracts and 2.23 million contracts respectively. | E-mini Futures | JAN-NOV 2007 ADV
| JAN-NOV 2006 ADV
| %Change YOY | | E-mini S&P 500 | 1,639,030 | 1,031,022 | +59.0% | | E-mini NASDAQ-100 | 380,156 | 321,404 | +18.3% | | E-mini Dow ($5) | 161,241 | 109,044 | +47.9% | | E-mini S&P MidCap 400 | 28,675 | 21,655 | +32.4% |
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| | Register for Traders Expo New York: February 16-19, 2008 Join CME Group at the Traders Expo New York on February 16-19, 2008 at the Marriott Marquis in New York City. This year, CME Group has expanded our sponsorship to include a dedicated training room on the fifth floor, where you can take advantage of over three days of FREE futures and options education taught by 15 industry experts in more than 20 workshops, addressing the latest trading strategies and market trends. Register Today. | | | | CME Globex Updates MOCK TRADING SESSIONS: CBOT Products on CME Globex
In December, CME Group will begin hosting mock trading sessions that enable customers to test out the functionality of trading CBOT products on CME Globex prior to the actual migration of those products in January 2008. These Saturday mock trading sessions will take place in the production environment so that firms can validate their production connection and configuration for live trading. Participation in at least one mock trading session is mandatory for all firms intending to trade CBOT products on CME Globex. Schedule of the remaining Saturday Mock Trading Sessions is as follows:
December 15, 2007
January 6, 2008
January 12, 2008
January 26, 2008 Time will be allotted for "free swim" testing. For General Testing Guidelines, visit the CME Group Integration Update page at www.cmegroup.com/integration_update. For more information, please contact your CME Globex Account Manager at 312.634.8700 or e-mail globexaccountmanagement@cmegroup.com. On-Demand Customer Forum Now Available
If you missed the November 26th CME Group Customer Forum for CME Globex customers, you can still access the recording and a copy of the presentation deck at the CME Group Integration page. Visit www.cmegroup.com/integration_update. | | | | |
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Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged investment, and because only a
percentage of a contract’s value is required to trade, it is possible to lose more than the amount of money initially deposited for a futures position.
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CME Group is the trademark of CME Group Inc. The Globe Logo, Globex® and CME® are trademarks of Chicago Mercantile Exchange Inc.
CBOT® is the trademark of the Board of Trade of the City of Chicago.
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