Chapter 601
Cleared OTC Non-Deliverable Forward FX Contract Terms
60101. SCOPE OF CHAPTERThe terms and conditions of each FX Contract shall be defined by this Chapter, as supplemented by the FX
Definitions, the Relevant EMTA Template Terms, and the relevant Contract Elections, and as furthersupplemented and amended by provisions of the Rules. Capitalized terms in this Chapter that are nototherwise defined in either this Chapter or the other Chapters of the Rules shall have the meanings set forthin the FX Definitions.
Unless otherwise specified, times referred to herein shall refer to and indicate New York time.

60102. CONTRACT TERMS
Each FX Contract is supplemented by the FX Definitions and the Relevant EMTA Template Terms, and theContract Elections for such FX Contract.
60102.A.
Calculation Agent
The Calculation Agent for each FX Contract shall be CME Clearing or its designee for all purposes. For theavoidance of doubt, the Calculation Agent shall not be required to consult with the parties to a FX Contractprior to making any determination that is required or permitted to be made by the Calculation Agent or Agentsfor such FX Contract.
60102.B.
Settlement Currency
For any FX Contract, the settlement currency shall be U.S. dollars.
60102.C.
Unit of Clearing and Minimum Price Increment
1. In respect of the Currency Pair that is the subject of a given FX Contract, the Unit of Clearing shall be
U.S. dollars in increments of 0.01 U.S. dollars.
2. The Minimum Price Increment for any FX Contract shall be a given unit of the corresponding Reference
Currency per one (1) U.S. dollar, as set forth in Exhibit 60102.C.1.
Exhibit 60102.C.1.
Currency Pairs and Minimum Price Increments
Currency Pair
(Reference Currency per U.S. Dollar)

Minimum Price Increment(Units of Reference Currency per one (1) U.S. Dollar)

BRL (Brazilian Real)
CLP (Chilean Peso)
CNY (Chinese Renminbi)
COP (Colombian Peso)
IDR (Indonesian Rupiah)
INR (Indian Rupee)
KRW (Korean Won)PEN (Peruvian Nuevo Sol)
PHP (Philippine Peso)
RUB (Russian Ruble)
TWD (Taiwan Dollar)

0.000001 Brazilian Real
0.0001 Chilean Peso
0.0001 Chinese Renminbi
0.01 Colombian Peso0.01 Indonesian Rupiah
0.0001 Indian Rupee
0.0001 Korean Won0.000001 Peruvian Nuevo Sol
0.001 Philippine Peso
0.000001 Russian Ruble
0.001 Taiwan Dollar

60102.D.
Hours for Clearing Entry
CME Clearing shall determine the hours during which FX Products may be submitted to CME Clearing forclearing as FX Contracts.
60102.E.
Valuation Dates for Final Settlement Price Determination
Prior to submission to CME Clearing for clearing, a FX Product may be specified for a Final Settlement Pricedetermination on a Valuation Date that is mutually agreed by the relevant FX Participants, and that is
accepted by CME Clearing as a valid Valuation Date for the Currency Pair corresponding to such FX Product,in accordance with the Relevant EMTA Template Terms.
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60102.F.
Delivery and Liquidation
1. At Maturity. A FX Contract that remains outstanding on such FX Contract’s Valuation Date shall befinancially settled pursuant to Rule 60104.
2. Prior to Maturity. Standard offsets of futures and options on futures shall not apply to positions in FX
Contracts. For FX Contracts for a specified Valuation Date, positions may be closed out prior to such
Valuation Date upon the request of the relevant FX Clearing Member to CME Clearing, in the mannerprescribed by CME Clearing.
60102.G.
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 inthe Position Limit, Position Accountability and Reportable Level Table in the Interpretations & Special Notices
Section of Chapter 5.
A Person seeking an exemption from position limits for bona fide commercial purposes shall apply to theMarket Regulation Department on forms provided by the Exchange, and the Market Regulation Department
may grant qualified exemptions in its sole discretion.
Refer to Rule 559 for requirements concerning the aggregation of positions and allowable exemptions fromthe specified position limits.

60104. CASH SETTLEMENT
60104.A.
Final Settlement Price and Final Settlement AmountA FX Contract remaining open on such FX Contract’s Valuation Date shall be cash settled by reference tothe difference between the Final Settlement Price for such FX Contract minus the original trade price of such
FX Contract as submitted for clearing to CME Clearing (“Difference”).
Such Final Settlement Price shall be equal to the value of the relevant Settlement Rate Option, as specified
in the Relevant EMTA Template, rounded to the nearest applicable Minimum Price Increment set forth inRule 60102.C. If the specified Settlement Rate Option is unavailable for determination of a Final Settlement
Price, then such Final Settlement Price shall be determined in accordance with the applicable disruption
fallback alternatives for the determination of the Settlement Rate, as set forth in the Relevant EMTA
Template. If such disruption fallback alternatives fail to provide a Settlement Rate, then such Final
Settlement Price shall be determined by the Exchange, in its role as Calculation Agent, pursuant to Rule812.
The Final Settlement Amount for such FX Contract shall be denominated in U.S. dollars, and shall be theproduct of (i) such Difference and (ii) the Notional Amount of such FX Contract in the applicable Reference
Currency, divided by the Final Settlement Price for such Valuation Date.
If such Final Settlement Amount is positive, then CME Clearing shall debit the selling FX Clearing Member’s
account and credit the buying FX Clearing Member’s account for such Final Settlement Amount. If suchFinal Settlement Amount is negative, then CME Clearing shall debit the buying FX Clearing Member’s
account and credit the selling FX Clearing Member’s account for such Final Settlement Amount.
60104.B.
Discontinuation of a Settlement Rate Option
For any FX Contract, if:(a)the provider of the corresponding Settlement Rate Option has publicly announced that it will
discontinue publication of such Settlement Rate Option (“Discontinued Settlement Rate Option”);
and(b)EMTA has publicly announced amendments to the Relevant EMTA Template Terms so as to specify
that an alternative Settlement Rate Option (“Alternative Settlement Rate Option”) shall replace such
Discontinued Settlement Rate Option as of a specified date (“Effective Substitution Date”); and(c)the Final Settlement Price of such FX Contract has not been determined as of such EffectiveSubstitution Date;then such FX Contract shall be deemed an Affected FX Contract for which CME Clearing shall reserve
the authority (i) to amend the applicable Settlement Rate Option so as to reference such Alternative
Settlement Rate Option, effective as of the Effective Substitution Date, and (ii) to make such otheramendments to such Affected FX Contract as may be required, by written notice to all FX Clearing
Participants.
Any omission or failure to give notice under this provision to, or the non-receipt of notice by, any FX
Clearing Participant shall not invalidate the amendment with which the notice is concerned.
60104.C.
Continuation of a Legacy Settlement Rate Option

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For any FX Contract, if:(a)EMTA has publicly announced amendments to the Relevant EMTA Template Terms so as to specify
an Alternative Settlement Rate Option in place of the existing Settlement Rate Option as of an
Effective Substitution Date; and(b)the Final Settlement Price of such FX Contract has not been determined as of such Effective
Substitution Date; and(c)the provider of the existing Settlement Rate Option continues the publication of such Settlement RateOption (“Legacy Settlement Rate Option”);
then such FX Contract shall not be deemed an Affected FX Contract. If at any time after such Effective
Substitution Date the provider of the Legacy Settlement Rate Option discontinues the publication of
the Legacy Settlement Rate Option, then the FX Contract thereupon shall be deemed an Affected FX
Contract in accordance with Rule 60104.B., and the relevant date of discontinuation thereupon shallbe deemed the Effective Substitution Date.
60104.D.
Amendments to Timings
CME Clearing may amend the timings of notifications, deliveries, and transfers under this Rule to reflect as
appropriate the adoption of daylight savings time in the relevant countries of delivery.

60105. DISPUTESAll disputes between interested parties shall be settled by arbitration as provided in the Rules.

60106. CONTRACT MODIFICATIONS
60106.A.
CME Rules
The terms of FX Contracts may be modified by CME in accordance with the Rules, with such modification
to be incorporated into the Rules of this Chapter and to be applicable to all FX Contracts that are enteredinto subsequent to the relevant date of modification.
60106.B.
Change in Law or Regulation
If any governmental agency or body with jurisdiction over CME issues an order, ruling, directive or law thatconflicts with the requirements of the Rules of this Chapter, CME shall make such amendments andmodifications to these Rules as it deems appropriate in its sole discretion in order to reflect theapplication of such order, ruling, directive or law, and such changes to these Rules shall be applicable to
all FX Contracts that are open as of, or entered into subsequent to, the relevant effective date of the order,ruling, directive or law.

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