SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 23-243

Organization: Chicago Mercantile Exchange Inc. ("CME")

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): 07/03/23 Filing Description: Reduction of the Block Trade 

Minimum Quantity Threshold Levels for all Options for the E-mini S&P 500 Index Futures 

Contracts

SPECIFY FILING TYPE 

Please note only ONE choice allowed per Submission.

Organization Rules and Rule Amendments

Certification § 40.6(a)

Approval § 40.5(a)

Notification § 40.6(d)

Advance Notice of SIDCO Rule Change § 40.10(a)

SIDCO Emergency Rule Change § 40.10(h)

Rule Numbers: See filing.

New Product Please note only ONE product per Submission.

Certification § 40.2(a) 

Certification Security Futures § 41.23(a)

Certification Swap Class § 40.2(d)

Approval § 40.3(a)

Approval Security Futures § 41.23(b)

Novel Derivative Product Notification § 40.12(a)

Swap Submission § 39.5

Product Terms and Conditions (product related Rules and Rule Amendments)

Certification § 40.6(a) 

Certification Made Available to Trade Determination § 40.6(a)

Certification Security Futures § 41.24(a)

Delisting (No Open Interest) § 40.6(a) 

Approval § 40.5(a)

Approval Made Available to Trade Determination § 40.5(a)

Approval Security Futures § 41.24(c)

Approval Amendments to enumerated agricultural products § 40.4(a), § 40.5(a)

“Non-Material Agricultural Rule Change” § 40.4(b)(5)

Notification § 40.6(d)

Official Name(s) of Product(s) Affected:

Rule Numbers: 
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com

1

Christopher Bowen 

Managing Director and Chief Regulatory Counsel

Legal Department

July 3, 2023

VIA ELECTRONIC PORTAL

Mr. Christopher J. Kirkpatrick

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

Re: CFTC Regulation 40.6(a) Certification. Reduction of Block Trade Minimum Quantity 

Threshold Level for all Options on the E-mini S&P 500 Index Futures Contracts.

CME Submission No. 23-243

Dear Mr. Kirkpatrick:

Chicago Mercantile Exchange Inc. (“CME” or “Exchange”) is certifying to the Commodity Futures Trading 

Commission (“CFTC” or “Commission”) a reduction of the block trade minimum quantity threshold of all 

options on the E-mini S&P 500 Index futures contracts located in Chapter 358A as noted in Table 1. below 

effective on Sunday, July 23, 2023 for trade date Monday, July 24, 2023 (collectively, the “Rule 

Amendments”).

Table 1.

Contract Title

CME Globex

and

CME ClearPort

Code

Reporting 

Window

Reduced Block Trade 

Minimum Threshold

Monday Weekly Options on E-mini 

Standard and Poor's 500 Stock Price 

Index Futures - Week 1-5 (EuropeanStyle)

E1A-E5A 

RTH/ETH/ATH –

15 minutes 250 100

Tuesday Weekly Options on E-mini 

Standard and Poor's 500 Stock Price 

Index Futures - Week 1-5 (EuropeanStyle)

E1B-E5B 

RTH/ETH/ATH –

15 minutes 250 100

Wednesday Weekly Options on E-mini 

Standard and Poor's 500 Stock Price 

Index Futures - Week 1-5 (EuropeanStyle)

E1C-E5C RTH/ETH/ATH –

15 minutes 250 100
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com

2

Thursday Weekly Options on E-mini 

Standard and Poor's 500 Stock Price 

Index Futures - Week 1-5 (EuropeanStyle)

E1D-E5D 

RTH/ETH/ATH –

15 minutes 250 100

Weekly Options on E-mini Standard and 

Poor's 500 Stock Price Index Futures -

Week 1-5 (European-Style)

EW1-EW4 RTH/ETH/ATH –

15 minutes 250 100

Options on E-mini Standard and Poor's 

500 Stock Price Index Futures - End-ofMonth (European-Style)EW RTH/ETH/ATH –

15 minutes 250 100

Options on E-mini Standard and Poor's 

500 Stock Price Index Futures

ES RTH/ETH/ATH –

15 minutes 250 100

The Rule Amendments are being implemented to align such levels with other contracts with similar liquidity 

levels and are intended to broaden the scope of potential market participants without negatively impacting 

participation in the Exchange’s central limit order book (“CLOB”) markets.

The Exchange reviewed the designated contract market core principles (“DCM Core Principles”) as set 

forth in the Commodity Exchange Act (“CEA” or “Act”) and identified that the Rule Amendments may have 

some bearing on the following Core Principles:

Availability of General Information: As required by this Core Principle, the Exchange will publish a 

Special Executive Report (“SER”) to advise the marketplace of the Rule Amendments. The SER will 

also be available on the CME Group website.

Daily Publication of Trading Information: Block trade volume and pricing information will continue to

be published on the Exchange’s website and via quote vendors.

Execution of Transactions: A designated contract market may authorize transactions that are 

executed away from the DCM’s centralized marketplace for bona fide business purposes. Accordingly, 

the Exchange has long established block standards for a wide array of futures and options products. 

The actions certified herein serve solely to improve the alignment of block trade standards for the 

pertinent futures products.

Pursuant to Section 5c(c) of the Act and CFTC Regulation 40.6(a), the Exchange hereby certifies that the 

Rule Amendments comply with the Act and regulations thereunder. There were no substantive opposing 

views to the Rule Amendments.

The Exchange certifies that this submission has been concurrently posted on the CME Group website at 

http://www.cmegroup.com/market-regulation/rule-filings.html 

If you require any additional information regarding this submission, please contact the undersigned at 

212.299.2200 or via email at CMEGSubmissionInquiry@cmegroup.com.

Sincerely, 

/s/ Christopher Bowen 

Managing Director and Chief Regulatory Counsel