Chapter 324
British Pound Sterling/Canadian Dollar (GBP/CAD) Cross Rate Futures
32400.

SCOPE OF CHAPTER
This chapter is limited in application to British pound sterling/Canadian dollar cross ratefutures. In addition to this chapter, British pound sterling/Canadian dollar cross rate futures
shall be subject to the general rules and regulations of the Exchange insofar as applicable.
For purposes of this chapter, unless otherwise specified, times referred to herein shall refer toand indicate Chicago time.

32401.

TRADING SPECIFICATIONS
32401.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.
32401.B. Trading Unit
The unit of trading shall be 125,000 British pounds sterling.
32401.C. Quote Basis
Bids and offers shall be quoted in terms of Canadian dollars per British pound sterling,significant to four decimal places, e.g., 1.7171.
32401.D. Price Increments
For trades executed on CME Globex electronic trading platform, minimum price fluctuations
shall be in multiples of .0001 Canadian dollars per British pound sterling, equivalent to 12.5
Canadian dollars per contract. Trades may also occur in multiples of .00005 Canadiandollars per British pound sterling, commonly referred to as one-half tick, for GBP/CAD
futures intra-currency spreads executed as simultaneous transactions pursuant to Rule542.
For transactions submitted through CME ClearPort, the minimum price fluctuation
shall be .00001 Canadian dollars per British pound sterling.
32401.E. [Reserved]
32401.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, andthe Market Regulation Department may grant qualified exemptions in its sole discretion.
Refer to Rule 559 for requirements concerning the aggregation of positions andallowable exemptions from the specified position limits.
32401.G. Special Price Fluctuation Limits
At the commencement of each trading day, the contract shall be subject to special pricefluctuation 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.
32401.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.
32401.I.
[Reserved]32402.

SETTLEMENT PROCEDURES
32402.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.
British pound sterling/Canadian dollar cross rate futures traded pursuant to Chapter 324 shall bedelivered in banks designated by the Exchange. Buyers of the British pound sterling/Canadiandollar cross rate futures contract shall deliver the minimum-fluctuation currency (Canadiandollar) and receive the trading-unit currency (British pound sterling). Sellers of the British poundsterling/Canadian dollar cross rate futures contract shall deliver the trading-unit currency (Britishpound sterling) and receive the minimum-fluctuation currency (Canadian dollar).

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2. Delivery Days
Delivery shall be made on the third Wednesday of the contract month. If that day is not aBusiness 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 bothcountries of delivery and is not a bank holiday in Chicago or New York City.
32402.B. [Reserved]

32403.

[RESERVED](End Chapter 324)

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