In November 2018, the exchange will implement, subject to all regulatory review periods, amendments to terms and conditions of CME Three-Month Eurodollar (GE) futures, CME One-Month Eurodollar (GLB) futures, and CBOT 30-Day Federal Funds (ZQ) futures. These product rule amendments are administrative: They do not change in any way the trading characteristics or the economic values of the contracts.
The amendments accomplish two things: (1) They align the statement of terms and conditions for each of these futures products with the terms and conditions for the recently-introduced CME futures products that reference the Secured Overnight
Financing Rate (SOFR) benchmark, and CME Group’s general approach to the index-based futures products that it offers including the CME E-mini Standard and Poor’s 500 Stock Price Index Futures (ES), and (2) they clarify contract size.
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By: CME Group