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Traders,
All S&P traders should be aware that on Wednesday, April 15, the CME will
put into effect new levels for circuit breakers/trading halts for the S&P
500 and other equity indices. They have posted the announcement on their
web site at
http://www.cme.com/news/circuit2.html
Briefly, the new levels are as follows for the S&P 500 lead month futures
contract:
25.00 up or down limit to replace 15.00 on the Globex
25.00 "speed bump" to replace current 15.00 during regular trading hours
50.00 "speed bump" to replace current 30.00 during regular trading hours
100.00: trading halt coordinated with NYSE if before 1:30pm Cental;
becomes a speed bump if after 1:30pm
200.00: trading halt coordinated with NYSE; Merc's maximum daily price
limit
The CME wanted to implement the new circuit breakers/halts on April 1
along with the NYSE . However, they needed to wait for approval, which
they received last week; hence the April 15 start.
I am passing this information along as a service to traders on the list. I
have no connection with the CME and take no responsibility for official
interpretation of the information. (Please read the web site or call the
CME for the full story.) My only source is a phone call to the CME and
the news release on the web.
May your longs go up and your shorts go down,
Dan Tillemans
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