Chapter 710
Physically Delivered Single Security Futures
71000.

SCOPE OF CHAPTER
This chapter is limited in application to contract specifications applied to security futures contracts
that require the physical delivery of a single security (a “Physically Delivered Single SecurityFutures”). Single securities that are eligible for listing per this Chapter 710 include those thatmeeting the initial listing standards per Exchange Rule 70001 and the maintenance listing
standards per Exchange Rule 70002.

71001.

FUTURES CALL
71001.A.

Trading Unit

Physically Delivered Single Security Futures contracts shall require the delivery of a particularnumber of shares, as specified per Rule 71004, of common stock; an exchange traded fund (“ETFShare”); a trust issued receipt (“TIR”); a registered closed-end management investment company(“Closed-End Fund Share”); or, American Depository Receipts (“ADR”).
71001.B.
Price Increments
Physically Delivered Single Security Futures contracts shall be traded in U.S. Dollars with aminimum price increment as determined by the Board of Directors as depicted in Rule 71004.
71001.C.
Trading Schedule
Physically Delivered Single Security Futures contracts may be traded during such hours, fordelivery in such months as determined by the Board of Directors.
71001.D.
Termination of Trading
All trading in a particular Physically Delivered Single Security Futures contract shall terminate at theclose of business on the third Friday of the contract month.
71001.E.
Position Limits
Position limits shall be applied on Physically Delivered Single Security Futures contracts such that,during the last five trading days of an expiring contract month, a person shall not own or control
more than a specified number of contracts net long or net short in the expiring contract month, asdepicted in Exchange Rule 71004. Position limits for each Physically Delivered Single Security
Futures contract shall be determined on a case-by-case basis at levels no greater than thoseprescribed by CFTC Regulation §41.25(a)(3).
71001.F.
Price Limits and Trading Halts
There is no daily price limit for Physically Delivered Single Security Futures contracts. Trading ofPhysically Delivered Single Security Futures shall be halted at all times that a regulatory halt, asdefined per SEC Rule 6h-1(a)(3) and CFTC Regulation §41.1(l), has been instituted for theunderlying security.

71002.

SETTLEMENT PRICE
71002.A.

Daily Settlement Price

Except for the last day of trading on an expiring contract, daily settlement prices shall be
determined per Rule 813.
71002.B.
Final Settlement PriceOn the last day of trading for an expiring contract, the Final Settlement Price is determined inaccordance with Rule 71002.A. unless the Final Settlement Price is fixed in accordance with Rule
70120.

71003.

DELIVERY
Three (3) business days after the last trading day for an expiring contract, the National Securities
Clearing Corporation and Depository Trust Corporation will facilitate delivery of, and payment for,the underlying common stock, American Depository Receipts, shares of exchange-traded funds,
shares of closed-end management investment companies, or trust issued receipts whereby: aseller (i.e., the holder of a net short position) delivers the securities underlying the contract to arespective buyer (i.e., the holder of a net long position); and, in exchange, that buyer pays his
respective seller the aggregate dollar amount of the Expiration Day Settlement Price multiplied by
the quantity of the underlying securities delivered.

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

Page 1 of 2

71004.

APPROVED SECURITIESThe following securities have been approved by the Board of Directors as the subject of Physically
Delivered Single Security Futures Contracts:

Approved Security

71005.

Unit of Trading

Minimum
Fluctuation

Position Limitin Expiring
Contract in Last
5 Trading Days

[RESERVED]

INTERPRETATIONS & SPECIAL NOTICESRELATING TO CHAPTER 710
Standard & Poor's, a division of The McGraw-Hill Companies, Inc. (“S&P”), does 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
Index ETFs 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 Index
ETFs or any data included therein. Without limiting any of the foregoing, in no event shall S&P have anyliability for any special, punitive, indirect, or consequential damages (including lost profits), even if notified ofthe possibility of such damages.
NEITHER FRANK RUSSELL COMPANY’S PUBLICATION OF THE RUSSELL INDEXES NOR ITS
LICENSING OF ITS TRADEMARKS FOR USE IN CONNECTION WITH SECURITIES OR OTHER
FINANCIAL PRODUCTS DERIVED FROM A RUSSELL INDEX IN ANY WAY SUGGESTS OR IMPLIES AREPRESENTATION OR OPINION BY FRANK RUSSELL COMPANY AS TO THE ATTRACTIVENESS OFINVESTMENT IN ANY SECURITIES OR OTHER FINANCIAL PRODUCTS BASED UPON OR DERIVEDFROM ANY RUSSELL INDEX. FRANK RUSSELL COMPANY IS NOT THE ISSUER OF ANY SUCHSECURITIES OR OTHER FINANCIAL PRODUCTS AND MAKES NO EXPRESS OR IMPLIEDWARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE WITHRESPECT TO ANY RUSSELL INDEX OR ANY DATA INCLUDED OR REFLECTED THEREIN, NOR ASTO RESULTS TO BE OBTAINED BY ANY PERSON OR ANY ENTITY FROM THE USE OF THE RUSSELLINDEX OR ANY DATA INCLUDED OR REFLECTED THEREIN.

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

Page 2 of 2