Chapter 400
Nasdaq-100 Annual Dividend Index Futures
40000.

SCOPE OF CHAPTER
This chapter is limited in application to Nasdaq-100 Annual Dividend Index futures (“Nasdaq100 Annual Dividend Index 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.
40000.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 for Trading Halts Due to Extraordinary Volatility.
40000.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”), asamended from time to time (SEC, SRO Rulemaking, National Market System Plans, File 4631).
40000.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 to Rule 608 of Regulation NMS Under the Securities Exchange Act of 1934”
approved 31 May 2012 by the SEC, as amended from time to time (SEC, SRO Rulemaking,National Market System Plans, 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.

40001.

CONTRACT SPECIFICATIONSEach futures contract shall be valued at $100.00 times the Nasdaq-100 Dividend Point Index(“Index”).
The Index tracks the total dividends from the constituents of the Nasdaq-100 index. The Index
resets to zero annually, at the end of the third Friday of each December. On a given day, theIndex level is based on the running total accumulation of all ordinary gross dividends paid on
Nasdaq-100 index constituent stocks that have gone ex-dividend since the previous zero-reset
date. The Index is expressed in Nasdaq-100 index points.

40002.

TRADING SPECIFICATIONS
40002.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.
40002.B. Trading Unit
The unit of trade shall be $100.00 times the Index.
40002.C. Price Increments
Bids and offers shall be quoted in Index points. The minimum price increment shall be 0.10
Index points, equal to $10.00 per contract, except for intermonth spreads executed pursuant toRule 542.A., for which the minimum price increment shall be 0.05 Index points, equal to $5.00
per intermonth spread.
40002.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 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 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.
40002.E. [Reserved]40002.F. [Reserved]© Copyright Chicago Mercantile Exchange, Inc. All rights reserved.

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40002.G. Termination of Trading
Trading in expiring futures shall terminate at the regularly scheduled start of trading on theprimary listing exchange on the Business Day scheduled for determination of the Final
Settlement Price (Rule 40003.A.) for such futures.
40002.H. [Reserved]40002.I. Price Limits and Trading Halts
There shall be no futures trading when trading is halted in the Primary Futures Contract Monthpursuant to Rule 35902.I. In accordance with Rule 35902.I. the Exchange shall determine, inits sole discretion, the futures delivery month that represents such Primary Futures Contract
Month.
40002.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 ofthe Nasdaq-100 index.
2.
Any person who is in possession of material non-public information relating toordinary cash dividends of a constituent corporation of the Nasdaq-100 index, including (butnot limited to) information concerning the timing or amount of any ordinary cash dividend.
40002.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 andcovenant that, at the time such order is accepted or executed, or the position is held, such
person and, as applicable, the other person for whose account such person is trading, is not a
Prohibited Person (Rule 40002.J.).

40003.

SETTLEMENT PROCEDURES
Delivery shall be by cash settlement.
40003.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 Nasdaq-100 index constituent stocks that have gone exdividend since 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,then such Final Settlement Price shall be scheduled for determination on the first preceding
Business Day on which the Index is scheduled to be published.
40003.B. Final Settlement
Clearing members holding open positions in an expiring futures contract at its termination oftrading (Rule 40002.G.) shall make payment to or receive payment from the Clearing House inaccordance with normal variation margin procedures based on such expiring contract’s Final
Settlement Price (Rule 40003.A.).

40004. [RESERVED]
40005. [RESERVED]
40006. [RESERVED]
INTERPRETATIONS AND SPECIAL NOTICES RELATING TO CHAPTER 400
Nasdaq-100 Dividend Index Futures (Products) are not sponsored, endorsed, sold or promoted by
the Nasdaq Stock Market, Inc. (including its affiliates) (Nasdaq, with its affiliates, are referred to as
the Corporations). The Corporations have not passed on the legality or suitability of, or the accuracyor adequacy of descriptions and disclosures relating to, the Products. The Corporations make norepresentation or warranty, express or implied, to the holder of any position in the Products or anymember of the public regarding the advisability of investing in financial instruments generally or in theProducts particularly, or the ability of the Nasdaq-100 Index to track general stock market
performance. The Corporations' only relationship to Chicago Mercantile Exchange Inc. (Licensee) isin the licensing of certain trademarks, service marks, and trade names of the Corporations and theuse of the Nasdaq-100 Index, which is determined, composed and calculated by Nasdaq without
regard to Licensee or the Products. Nasdaq has no obligation to take the needs of the Licensee or© Copyright Chicago Mercantile Exchange, Inc. All rights reserved.

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the holder of any position in the Products into consideration in determining, composing or calculating
the Nasdaq-100 Index. The Corporations are not responsible for and have not participated in thedetermination or calculation of the equation by which the Products are to be converted into cash, inthe case of Nasdaq-100 Futures, or futures contracts, in the case of Options on Nasdaq-100 Futures.
The Corporations have no liability in connection with the administration, marketing or trading of theProducts.
THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTEDCALCULATION OF THE NASDAQ 100 INDEX OR ANY DATA INCLUDED THEREIN. THE
CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE RESULTS TO BEOBTAINED BY ANY PERSON OR ENTITY FROM THE USE OF THE NASDAQ 100 INDEX, ANY
OPENING, INTRA-DAY, OR CLOSING VALUE THEREOF, OR ANY DATA INCLUDED THEREIN,OR RELATING THERETO, IN CONNECTION WITH THE TRADING OF E–MINI NASDAQ 100FUTURES OR OPTIONS ON E–MINI NASDAQ 100 FUTURES OR FOR ANY OTHER PURPOSE.
THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLYDISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULARPURPOSE OR USE WITH RESPECT TO THE NASDAQ 100 INDEX, ANY OPENING, INTRA-DAY,OR CLOSING VALUE THEREOF, OR ANY DATA INCLUDED THEREIN OR RELATED THERETO,OR ANY E–MINI NASDAQ 100 FUTURES CONTRACT OR OPTION ON A E–MINI NASDAQ 100FUTURES CONTRACT. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALLTHE CORPORATIONS HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, ORCONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THEPOSSIBILITY OF SUCH DAMAGES.

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

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