This morning, in response to discussions with the Commodity Futures Trading Commission, the CME made minor modifications to three of the Questions and Answers in the CME advisory related to new Rule 575 prohibiting certain disruptive trade practices. The modifications, which the CME describes as “not substantive” are as follows:
- “The addition of ‘the number of orders’ to the list of factors Market Regulation will consider when assessing whether conduct violates Rule 575 in the answer to Question 1;
- A modification to Question 10 replacing ‘with the intent to cancel’ with ‘but subsequently cancel,’ and
- The elimination of the superfluous phrase ‘without justification’ in the second sentence of the answer to Question 16.”
The revised advisory notice, which is effective today, can be found at:
This supplements to our earlier post.