Chapter 346
Chilean Peso/U.S. Dollar (CLP/USD) Futures
34600.

SCOPE OF CHAPTER
This chapter is limited in application to Chilean peso/U.S. dollar futures. In addition to thischapter, Chilean peso/U.S. dollar futures shall be subject to the general rules and regulations ofthe Exchange insofar as applicable.
For purposes of this chapter, unless otherwise specified, times referred to herein shall refer toand indicate Chicago time.

34601.

TRADING SPECIFICATIONS
34601.A.
Trading Schedule
Futures contracts shall be scheduled for trading and final settlement during such hours and insuch months as may be determined by the Exchange.
34601.B.

Trading Unit

The unit of trading shall be 50,000,000 Chilean pesos.
34601.C.
Price Increments
Minimum price fluctuations shall be in multiples of $0.0000001 per Chilean peso, equivalent to$5.00 per contract.
34601.D.
Position Limits, Exemptions, Position Accountability and Reportable Levels
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 l imits for bona fide commercial purposes shallapply to the Market Regulation Department on forms provided by the Exchange, and the MarketRegulation 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.
34601.E.
[Reserved]34601.F. 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 Table in theInterpretations & Special Notices Section of Chapter 5.
34601.G.

Termination of Trading

Futures trading shall terminate on the last Business Day of the month, immed iately preceding
the contract month, on which the Banco Central de Chile (BCC) is scheduled to publish its final
end-of-month (EOM) spot exchange rate of Chilean pesos per U.S. dollar. If the foregoing datefor termination is a holiday for the Exchange an d GLOBEX®, futures trading shall terminate on
the next preceding Business Day for either the Exchange or GLOBEX®.
34601.H.
[Reserved]34602.

SETTLEMENT PROCEDURES
34602.A.
34602.B.

[Reserved]
Cash Settlement

All Chilean peso/U.S. dollar futures contracts remaining open after the close of trading on thetermination of trading day shall be liquidated by cash settlement at a Final Settlement Price equal
to the reciprocal of the “Dólar Observado”, as determined on the termination of trading day but
reported by the Banco Central de Chile (BCC) on the Business Day following the termination oftrading day on the BCC’s website (http://www.bcentral.cl/index.asp) and rounded to 7 decimal© Copyright Chicago Mercantile Exchange, Inc. All rights reserved.

Page 1 of 2places. This rate is widely used by the interbank foreign exchange market to cash settle nondeliverable forward contracts for U.S. dollars versus Chilean pesos. All open positions shall becash settled to this rate on the Business Day following the last Business Day of the month forthe BCC.
1.

Procedures if No BCC Dólar Observado Rate is Available
In the event that there is a price source disruption and the Dólar Observado rate is not
calculated by the BCC on the termination of trading day and/or broadcasted on the Business
Day following the termination of trading day, the Clearing House shal l defer cash settlement
to a subsequent day.

2.

Procedures if BCC Dólar Observado Rate is Available after Commencement of a Deferral
PeriodUpon publication of the BCC Dólar Observado rate after a deferral period commences, CMEshall determine the Final Settlement Price using such Rate rounded to 7 decimal places
and the U.S. dollar/Chilean peso futures contract shall be settled on such day. If, however,
14 consecutive calendar days pass without publication of the BCC Dólar Observado rate,CME shall otherwise determine the Final Settlement Price. See section 3.

3.

Procedures after 14-Day Deferral Period
After the lapse of 14 consecutive calendar days witho ut publication of the BCC Dólar
Observado rate, then Rule 812 shall apply to determine the Final Settlement Price.

34603.

[RESERVED](End Chapter 346)

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

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