Chapter 322
Norwegian Krone/Swedish Krona (NOK/SEK) Cross Rate Futures
32200.

SCOPE OF CHAPTER
This chapter is limited in application to Norwegian krone/Swedish krona cross rate futures. In
addition to this chapter, Norwegian krone/Swedish krona cross rate futures shall be subject tothe general rules and regulations of the Exchange insofar as applicable.
For purposes of this chapter, unless otherwise specified, times referred to herein shall refer to andindicate Chicago time.

32201.

TRADING SPECIFICATIONS
32201.A. Trading Schedule
Futures contracts shall be scheduled for trading and delivery during such hours and in suchmonths as may be determined by the Exchange.
32201.B. Trading Unit
The unit of trading shall be 1,000,000 Norwegian kroner.
32201.C. Quote Basis
Bids and offers shall be quoted in terms of Swedish krona per Norwegian krone, significant tofive decimal places, e.g., 1.00241.
32201.D. Price Increments
For trades executed on CME Globex electronic trading platform, minimum price fluctuations
shall be in multiples of .00001 Swedish krona per Norwegian krone, equivalent to 10 Swedishkrona per contract. Trades may also occur in multiples of .000005 Swedish krona per
Norwegian krone, commonly referred to as one-half tick, for NOK/SEK futures intra-currency
spreads executed as simultaneous transactions pursuant to Rule 542.
For transactions
submitted through CME ClearPort, the minimum price fluctuation shall be .000001 Swedish krona
per Norwegian krone.
32201.E. [Reserved]
32201.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 Tablein the Interpretations & Special Notices Section of Chapter 5.
A Person seeking an exemption from position limits for bona fide commercial purposes shallapply to the Market Regulation Department on forms provided by the Exchange, and theMarket 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.
32201.G. Special Price Fluctuation Limits
At the commencement of each trading day, the contract shall be subject to special price fluctuation
limits as set forth in Rule 589 and in the Special Price Fluctuation Limits and Daily Price Limits
Table in the Interpretations & Special Notices Section of Chapter 5.
32201.H. Termination of Trading
Futures trading shall terminate on the second Business Day immediately preceding thethird Wednesday of the contract month. If the foregoing date for termination is a bankholiday in Chicago or New York City, futures trading shall terminate on the next preceding
Business Day common to Chicago and New York City banks and the Exchange.
32201.I.
[Reserved]

32202.

SETTLEMENT PROCEDURES
32202.A. Physical Delivery
1. Procedures
In addition to the procedures and requirements contained in this chapter, physicaldelivery procedures shall be governed by the rules set forth in Chapter 7.
Norwegian krone/Swedish krona cross rate futures traded pursuant to Chapter 322 shall bedelivered in banks designated by the Exchange. Buyers of the Norwegian krone/Swedish krona
cross rate futures contract shall deliver the minimum-fluctuation currency (Swedish krona) andreceive the trading-unit currency (Norwegian krone). Sellers of the Norwegian krone/Swedishkrona cross rate futures contract shall deliver the trading-unit currency (Norwegian krone) andreceive the minimum-fluctuation currency (Swedish krona).

© Copyright Chicago Mercantile Exchange, Inc. All rights reserved.

Page 1 of 2

2. Delivery Days
Delivery shall be made on the third Wednesday of the contract month. If that day is not a Business
Day in both countries of delivery or is a bank holiday in either Chicago or New York City,
then delivery shall be made on the next day which is a Business Day in both countries of delivery
and is not a bank holiday in Chicago or New York City.
32202.B. [Reserved]

32203.

[RESERVED](End Chapter 322)

© Copyright Chicago Mercantile Exchange, Inc. All rights reserved.

Page 2 of 2