Chapter 412
CME Pacific Rim Seasonal CAT Index Futures
41200.

SCOPE OF CHAPTER
This chapter is limited in application to CME Pacific Rim Seasonal CAT Index futures. In addition to thischapter, CME Pacific Rim Seasonal Index futures shall be subject to the general rules and regulations ofthe Exchange insofar as applicable.
For purposes of this chapter, unless otherwise specified, times referred herein shall refer to andindicate Chicago time.

41201.

CONTRACT SPECIFICATIONS
1. Cumulative Average Temperature
The daily average temperature is defined as the arithmetic average calculated over a twenty-four (24)hour period. Observations are recorded by the Japan Meteorological Agency (JMA) and processed bySpeedwell Settlement Services Ltd.
• Tokyo, Japan (WMO 47662): Average of the 24-hourly readings between and including 0100 JST
D0 and 0000 JST D+1 (D = calendar day)
2. The Pacific Rim Seasonal CAT Indexes
Each particular CME Pacific Rim Seasonal index is the accumulation of the daily average temperatures
over a minimum of two, and a maximum of seven, consecutive calendar months. A separate futurescontract shall be listed for each strip. The accumulation period of each CME Pacific Rim CAT strip index
begins with the first calendar day of the first month of the strip, and ends with the last calendar day of thelast month of the defined strip.
Cooling Degree Days Strips:•May – September•

July – August•

Q2 (April – June)•
Q3 (July – September)
Heating Degree Days Strips:••••

41202.

November – March
December – February
Q1 (Jan – March)
Q4 (October – December)

TRADING SPECIFCIATIONS
41202.A. Trading Schedule
Futures contracts shall be scheduled for trading during such hours and in such months as may be
determined by the Exchange.
41202.B.
Trading Unit
The size of the unit of trading shall be ¥2,500 (Japanese Yen) times the respective CME Pacific Rim
Seasonal CAT Index.
41202.C.
Price Increments
The minimum price fluctuation on the CME Pacific Rim Seasonal Index futures contract shall be .01 index
point and have a value of ¥25 (Japanese Yen).
41202.D.
Position Limits, Exemptions, Position Accountability and Reportable Levels
The applicable position limits and/or accountability levels, in addition to the reportable levels, are set forthin the Position Limit, Position Accountability and Reportable Level Table in the Interpretations & Special
Notices Section of Chapter 5.
A Person seeking an exemption from position limits for bona fide commercial purposes shall apply to theMarket Regulation Department on forms provided by the Exchange, and the Market Regulation
Department may grant qualified exemptions in its sole discretion.
Refer to Rule 559 for requirements concerning the aggregation of positions and allowable exemptions
from the specified position limits.

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41202.E.
Termination of Trading
Futures trading shall terminate at 9:00 a.m. on the second Exchange Business Day after the last calendar
day of the last month of the defined strip.

41203.

SETTLEMENT PROCEDURES
41203.A.
Final Settlement Price
All futures contracts remaining open at the termination of trading shall be settled using the respective
CME Pacific Rim Seasonal Index reported by Speedwell Settlement Services Ltd. for that contract
period, using the methodology in effect on that date, on the second Exchange Business Day after thelast calendar day of the last month of the defined strip. For example, on October 2, 2020, the July 2020September 2020 Tokyo Season Index would have been settled at 2381 degrees.
41203.B.

Final Settlement

Clearing members holding open positions in a CME Pacific Rim Seasonal Index futures contract at thetermination of trading in that contract shall make payment to or receive payment from the Clearing Housein accordance with normal variation performance bond procedures based on a settlement price equal tothe final settlement price.
(End Chapter 412)

INTERPRETATIONS & SPECIAL NOTICESRELATING TO CHAPTER 412

LIMITATION OF LIABILITY AND DISCLAIMER
Speedwell Settlement Services Ltd. (“SSS”) grants the Exchange the rights to use various data (“Data”) in connection
with the trading of futures contracts and options on futures contracts based upon such Data. SSS makes no warranty,
express or implied, as to the results to be obtained by any person or any entity from the use of the Data in connection
with the trading of futures contracts, options on futures contracts or any other use. SSS makes no express or implied
warranties, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use withrespect to the Data. Without limiting any of the foregoing, in no event shall SSS have any liability for any special,punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.

Copyright Chicago Mercantile Exchange, Inc. All rights reserved.

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