Chapter 366
S&P 500 Quarterly Dividend Index Futures®

36600.

SCOPE OF CHAPTER
This chapter is limited in application to Standard & Poor's 500® Quarterly Dividend Index futures(“S&P 500® Quarterly Dividend futures” or “futures”). In addition to this chapter, futures shall be
subject to the general rules and regulations of the Exchange as applicable.
Unless otherwise specified, times referenced herein shall refer to and indicate Chicago time.
36600.A.
Market Decline
For the purposes of this chapter a Market Decline shall be as defined in New York Stock Exchange
Rule 7.12 for Trading Halts Due to Extraordinary Volatility or in Nasdaq Stock Market Rule 4121 forTrading Halts Due to Extraordinary Volatility.
36600.B.
Primary Listing Exchange
For the purposes of this chapter a Primary Listing Exchange shall be as defined in the “Plan toAddress 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 totime (SEC, SRO Rulemaking, National Market System Plans, File 4-631).
36600.C.
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 toRule 608 of Regulation NMS Under the Securities Exchange Act of 1934” approved 31 May 2012by the SEC, as amended from time to time (SEC, SRO Rulemaking, National Market SystemPlans, File 4-631) and as implemented under New York Stock Exchange Rule 7.12 for Trading
Halts Due to Extraordinary Volatility or under Nasdaq Stock Market Rule 4121 for Trading Halts
Due to Extraordinary Volatility.

36601.

CONTRACT SPECIFICATIONSEach futures contract shall be valued at $1,000.00 times the Standard & Poor's 500® Dividend
Points Index (“Index”).
The Index tracks the total dividends from the constituents of the S&P 500® index. The Index resets
to zero quarterly, at the end of the third Friday of each March, June, September, and December.
On a given day, the Index level is based on the running total accumulation of all ordinary grossdividends paid on S&P 500® index constituent stocks that have gone ex-dividend since theprevious zero-reset date. The Index is expressed in S&P 500® index points.

36602.

TRADING SPECIFICATIONS
36602.A.
Trading Schedule
Futures shall be scheduled for trading during such hours and for delivery in such months as may be
determined by the Exchange.
36602.B.
Trading Unit
The unit of trade shall be $1,000.00 times the Index.
36602.C.
Price Increments
Bids and offers shall be quoted in Index points. The minimum price increment shall be 0.01 Index
points, equal to $10.00 per contract, except for intermonth spreads executed pursuant to Rule
542.A., for which the minimum price increment shall be 0.005 Index points, equal to $5.00 per
intermonth spread.
36602.D.
Position Limits
The applicable position limits and/or accountability levels, in addition to the reportable levels, areset forth in the Position Limit, Position Accountability and Reportable Level Table in theInterpretations & Special Notices Section of Chapter 5.
A Person seeking an exemption from position limits for bona fide commercial purposes shall applyto the Market Regulation Department on forms provided by the Exchange, and the MarketRegulation Department may grant qualified exemptions in its sole discretion.

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Refer to Rule 559 for requirements concerning the aggregation of positions and allowable
exemptions from the specified position limits.
36602.E.
[Reserved]36602.F.
[Reserved]36602.G.
Termination of Trading
Trading in expiring futures shall terminate at the regularly scheduled start of trading on the Primary
Listing Exchanges on the Business Day scheduled for determination of the Final Settlement Price(Rule 36603.A.) for such futures.
36602.H.
[Reserved]36602.I.
Price Limits and Trading Halts
There shall be no futures trading when the primary S&P 500 Stock Price Index futures contract islimit bid or offered at any price limit, pursuant to CME Rule 35102.I.
1. Regulatory Halts
From 8:30 a.m. until and including 3:00 p.m., or from 8:30 a.m. until and including noon in
the case of an early scheduled close of the Primary Listing Exchange (Rule 36600.B.),
futures trading shall halt at such time as the Primary Listing Exchange may declare aRegulatory Halt (Rule 36600.C.) in response to either a Level 1 (7%) Market Decline or aLevel 2 (13%) Market Decline in the S&P 500® index (Rule 36600.A.). Futures trading
shall resume 10 minutes after the Regulatory Halt commences on the Primary Listing
Exchange, subject to the corresponding Price Limit.
At such time as the Primary Listing Exchange may declare a Regulatory Halt in response
to a Level 3 (20%) Market Decline in the S&P 500® index, futures trading shall halt for theremainder of the trading session.
2. Unscheduled Non-Regulatory Halts
If an unscheduled trading halt that is not also a Regulatory Halt occurs on one or more
Primary Listing Exchanges between 8:30 a.m. and 2.25 p.m., or between 8:30 a.m. and11:25 a.m. in the case of an early scheduled close of the Primary Listing Exchange(s),then futures trading shall be subject to such trading halts as the Exchange, in its sole
discretion, may determine to be appropriate.
36602.J.
Trading Prohibition
The following persons are prohibited from trading in futures (each, a “Prohibited Person”):
1. Any person who is a director or officer, subject to Section 16 of the Securities Exchange
Act of 1934 as amended from time to time, of a corporation that is a constituent of theS&P 500® index.
2. Any person who is in possession of material non-public information relating to ordinary
cash dividends of a constituent corporation of the S&P 500® index, including (but notlimited to) information concerning the timing or amount of any ordinary cash dividend.
36602.K.
Acceptance for Clearing
A clearing member shall not accept an order for futures contracts from any person, whether such
person is trading for its own account or for the account of another person, unless such person
provides to the clearing member at or before the time of the order a representation and covenant
that, at the time such order is accepted or executed, or the position is held, such person and, asapplicable, the other person for whose account such person is trading, is not a Prohibited Person(Rule 36602.J.).

36603.

SETTLEMENT PROCEDURES
Delivery shall be by cash settlement.
36603.A.
Final Settlement Price
For a futures contract for a given delivery month, the Final Settlement Price shall be the Index
value determined on the third Friday of such delivery month, based on the accumulation of all
ordinary gross dividends paid on S&P 500® index constituent stocks that have gone ex-dividendsince the Index’s previous zero-reset date.
If the Index is not scheduled to be published on the third Friday of the contract delivery month, thensuch Final Settlement Price shall be scheduled for determination on the first preceding Business
Day on which the Index is scheduled to be published.

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36603.B.
Final Settlement
Clearing members holding open positions in an expiring futures contract at its termination of trading(Rule 36602.G.) shall make payment to or receive payment from the Clearing House in accordancewith normal variation margin procedures based on such expiring contract’s Final Settlement Price(Rule 36603.A.).

36604.
36605.
36606.

[RESERVED][RESERVED][RESERVED](End Chapter 366)

INTERPRETATIONS AND SPECIAL NOTICES RELATING TO CHAPTER 366
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 orany 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 ofmerchantability or fitness for a particular purpose or use with respect to the S&P Stock Indices 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 notified of the possibility of suchdamages.

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