Chapter 368A
Options on E-mini Standard & Poor’s
SmallCap 600 Stock Price Index Futures
368A00.

SCOPE OF CHAPTER
This chapter is limited in application to options on E-mini S&P SmallCap 600 Stock Price Index futures(“futures”). In addition to this chapter, options on futures shall be subject to the general rules andregulations of the Exchange as applicable.
Unless otherwise specified, times referenced herein shall refer to and indicate Chicago time.
368A00.A. Primary Listing Exchange
For the purposes of this chapter a Primary Listing Exchange shall be as defined in the “Plan to Address
Extraordinary Market Volatility Submitted to the Securities and Exchange Commission Pursuant to Rule
608 of Regulation NMS Under the Securities Exchange Act of 1934” approved 31 May 2012 by the U.S.
Securities and Exchange Commission (“SEC”), as amended from time to time (SEC, SRO Rulemaking,National Market System Plans, File 4-631).
368A00.B. Regulatory Halt
For the purposes of this chapter a Regulatory Halt shall be as defined in the “Plan to Address
Extraordinary Market Volatility Submitted to the Securities and Exchange Commission Pursuant to Rule
608 of Regulation NMS Under the Securities Exchange Act of 1934” approved 31 May 2012 by theSEC, as amended from time to time (SEC, SRO Rulemaking, National Market System Plans, File 4631) and as implemented under New York Stock Exchange Rule 80B for Trading Halts Due toExtraordinary Volatility or under Nasdaq Stock Market Rule 4121 for Trading Halts Due to Extraordinary
Volatility.

368A01.

OPTIONS CHARACTERISTICS
368A01.A. Contract Months, Trading Hours and Trading Halts
Options shall be listed for expiration on such dates and shall be scheduled for trading during such hours
as may be determined by the Exchange, provided that there shall be no trading in options when tradingis halted in the Primary Futures Contract Month pursuant to Rule 36802.I.
In accordance with Rule 36802.I. the Exchange shall determine, in its sole discretion, the futuresdelivery month that represents such Primary Futures Contract.
368A01.B. Trading Unit
The trading unit shall be an option to buy, in the case of the call, or to sell, in the case of the put, one Emini S&P SmallCap 600 Index futures contract as specified in Chapter 368.
368A01.C. Minimum Fluctuations
Option prices shall be quoted in Index points. Each Index point shall represent $100.00 per option
contract.
The minimum price fluctuation shall be 0.10 Index points (equal to $10 per option contract), provided
that trade may occur at a price of 0.05 Index points (equal to $5 per option contract), irrespective ofwhether such trade results in the liquidation of positions for both parties to such trade.
368A01.D. Underlying Futures Contract
1. American Style Options in the March Quarterly Cycle (“Quarterly Options”)
For any American style option for which the expiration month is in the March quarterly cycle (i.e., March,June, September, or December), the Underlying Futures Contract shall be for delivery in such option’sexpiration month. Example: For a given year, futures for delivery in March shall be the Underlying
Futures Contract for a March Quarterly option.
2. American Style Options Not in the March Quarterly Cycle (“Serial Options”)
For any American style option for which the expiration month is not in the March quarterly cycle (i.e.,January, February, April, May, July, August, October, or November), the Underlying Futures Contract
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shall be for delivery in the March quarterly cycle month next following such option’s expiration month.
Example: For a given year, futures for delivery in March shall be the Underlying Futures Contract for aJanuary Serial option and for a February Serial option.
368A01.E. Exercise Prices
Transactions and exercise of options shall be conducted for options contracts as set forth in the Strike
Price Listing and Exercise Procedures Table.
The Exchange may modify the provisions governing the establishment of exercise prices as it deems
appropriate.
368A01.F. Position Limits, Exemptions, Position Accountability and Reportable Levels
The applicable position limits and/or accountability levels, in addition to the reportable levels, are set
forth in 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 tothe Market 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.
368A01.G. Nature of Options
Upon exercise of a put option by the buyer of such option, the seller of such option shall incur theobligation to assume a long position in one Underlying Futures Contract (Rule 368A01.D.) at such
option’s exercise price (Rule 368A01.E.). Upon exercise of a call option by the buyer of such option,
the seller of such option shall incur the obligation to assume a short position in one Underlying Futures
Contract at such option’s exercise price.
1. Quarterly Options and Serial Options
The buyer of a Quarterly option (Rule 368A01.D.1.) or a Serial option (Rule 368A01.D.2.) may exercise
such option at any time prior to its expiration.
368A01.H. [Reserved]
368A01.I.
Termination of Trading
1. Quarterly Options
Trading in any Quarterly option shall terminate on the same date and at the same time as thetermination of trading in such option’s Underlying Futures Contract (Rule 368A01.D.1.).
2. Serial Options
Trading in any Serial option shall terminate at the close of trading in such option’s Underlying Futures
Contract (Rule 368A01.D.2.) on the third Friday of such option’s expiration month. If such third Friday is
not a scheduled Business Day, then trading in expiring options shall terminate on the first preceding
Business Day.
If the market in the Underlying Futures Contract for such option does not open on the day scheduled fortermination of option trading, trading in such option shall terminate on the next day on which the market
in such Underlying Futures Contract is open for trading.
3. Unscheduled Market Holiday
Notwithstanding the aforementioned, if the Primary Listing Exchange (Rule 368A00.A.) is closed inobservance of an unscheduled market holiday on a day previously scheduled as a Business Day, thentrading in option contracts that had been scheduled to expire on such day shall terminate, and such
option contracts shall expire, on the Business Day immediately preceding such unscheduled market
holiday.
368A01.J. [Reserved]

368A02.

EXERCISE AND ASSIGNMENTIn addition to the applicable procedures and requirements of Chapter 7, the following shall apply to theexercise of options.
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368A02.A. Exercise
1. Quarterly Options and Serial Options
Any Quarterly option (Rule 368A01.D.1.) or Serial option (Rule 368A01.D.2.) may be exercised by thebuyer on any Business Day on which such option may be traded. To exercise such option, the clearing
member representing the option buyer shall present an exercise notice to the Clearing House by 5:30
p.m., or by such other time as the Exchange may designate, on the day of exercise.
Any unexercised option shall expire at 5:30 p.m. on the last day of trading in such option (Rule368A01.I.). Any option that is in the money, and that has not been liquidated or exercised prior to its
termination of trading, shall be exercised automatically upon expiration, in the absence of contraryinstructions. Such contrary instructions must be delivered to the Clearing House, by the clearing
member representing the buyer of such option, no later than 5:30 p.m., or such other time as may bedesignated by the Exchange, on the last day of trading in such option.
A call option shall be in the money if the settlement price of such option’s Underlying Futures Contract(Rule 368A01.D.) on the last day of trading in such option (Rule 368A01.I.) is strictly above such
option’s exercise price, and shall be out of the money if such settlement price is at or below such
option’s exercise price.
A put option shall be in the money if the settlement price of such option’s Underlying Futures Contract
on the last day of trading in such option is strictly below such option’s exercise price, and shall be out ofthe money if such settlement price is at or above such option’s exercise price.
368A02.B. Assignment
For a given option contract, an exercise notice accepted by the Clearing House in accordance withRules 368A02.A. shall be assigned by the Clearing House through a process of random selection toclearing members carrying open short positions in such option contract. A clearing member to whomsuch exercise notice has been assigned shall be notified thereof as soon as practicable following suchassignment.
The clearing member to whom such exercise notice has been assigned shall be assigned a shortposition in such option’s Underlying Futures Contract (Rules 368A01.D.) if such option is a call, or along position in such option’s Underlying Futures Contract if such option is a put. The clearing member
representing the option buyer making exercise shall be assigned a long position in such option’s
Underlying Futures Contract if such option is a call, or a short position in such option’s Underlying
Futures Contract if such option is a put.
All such futures positions shall be assigned at a price equal to the exercise price of such optioncontract, and shall be marked to market (in accordance with Rule 814) on the Business Day on which
the Clearing House accepts such exercise notice.

368A03.

[RESERVED](End Chapter 368A)
S&P Dow Jones Indices LLC directly or through one or more affiliates (collectively, "S&P") licenses theExchange to use various S&P stock indices ("S&P Stock Indices") in connection with the trading of futurescontracts and options on futures contracts based upon such indices. S&P shall have no liability for any
damages, claims, losses or expenses caused by any errors or delays in calculating or disseminating the S&P
Stock Indices.
S&P Dow Jones Indices LLC and its affiliates (collectively, "S&P") do not guarantee the accuracy and/or
completeness of the S&P Stock Indices or any data included therein. S&P makes no warranty, express or implied,
as to the results to be obtained by any person or any entity from the use of the S&P Stock Indices or any data
included therein in connection with the trading of futures contracts, options on futures contracts or any other use.
S&P makes no express or implied warranties, and expressly disclaims all warranties of merchantability or fitness
for a particular purpose or use with respect to the S&P Stock Indices or any data included therein. Withoutlimiting any of the foregoing, in no event shall S&P have any liability for any special, punitive, indirect, orconsequential damages (including lost profits), even if notified of the possibility of such damages.
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INTERPRETATIONS & SPECIAL NOTICES RELATING TO CHAPTER 368A
S&P Dow Jones Indices LLC directly or through one or more affiliates (collectively, "S&P") licenses theExchange to use various S&P stock indices ("S&P Stock Indices") in connection with the trading of futurescontracts and options on futures contracts based upon such indices. S&P shall have no liability for anydamages, claims, losses or expenses caused by any errors or delays in calculating or disseminating theS&P Stock Indices.
S&P Dow Jones Indices LLC and its affiliates (collectively, "S&P") do not guarantee the accuracy and/or
completeness of the S&P Stock Indices or any data included therein. S&P makes no warranty, express orimplied, as to the results to be obtained by any person or any entity from the use of the S&P Stock Indicesor any data included therein in connection with the trading of futures contracts, options on futurescontracts or any other use. S&P makes no express or implied warranties, and expressly disclaims all
warranties of merchantability or fitness for a particular purpose or use with respect to the S&P StockIndices or any data included therein. Without limiting any of the foregoing, in no event shall S&P have any
liability for any special, punitive, indirect, or consequential damages (including lost profits), even if notifiedof the possibility of such damages.

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