SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested

Registered Entity Identifier Code (optional): 23-528

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

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): December 19, 2023 Filing Description: Extension of the Globex 

Give Up Fee Waiver Program for CME Short-Term Interest Rate (STIR) Options

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: Not Applicable

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

Official Product Name: 

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: 
20 S Wacker Dr Chicago, IL 60606 T 312 466 7478 tim.elliott@cmegroup.com cmegroup.com

Timothy Elliott

Managing Director and Chief Regulatory Counsel

Legal Department

December 19, 2023

VIA ELECTRONIC PORTAL

Christopher J. Kirkpatrick 

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

RE: Extension of the Globex Give Up Fee Waiver Program for CME Short-Term Interest 

Rate (STIR) Options 

CME Submission No. 23-528

Dear Mr. Kirkpatrick:

Chicago Mercantile Exchange Inc. (“CME” or “Exchange”) hereby notifies the Commodity Futures Trading 

Commission (“CFTC” or “Commission”) that it plans to extend its fee waiver program in support of CME Short-Term 

Interest Rate (“STIR”) Options on Globex (“Program”) through January 31, 2025. The extension of the Program will 

become effective on February 1, 2024. All other Program terms remain the same. 

Exhibit 1 sets forth the terms of the Program. Modifications appear below, with additions underscored and deletions 

overstruck.

CME reviewed the designated contract market core principles (“Core Principles”) as set forth in the Commodity

Exchange Act (“CEA”). During the review, CME staff identified the following Core Principles as potentially being 

impacted: Monitoring of Trading, Execution of Transactions, Protection of Market Participants, Compliance with 

Rules, Availability of General Information, and Recordkeeping.

The Program is a general fee waiver that applies to all market participants. A general fee waiver does not incentivize 

manipulative trading or market abuse. The Program does not impact the Exchange’s ability to perform its trade 

practice and market surveillance obligations under the CEA. The Exchange’s market regulation staff will monitor 

trading in the products that are included in the Program to prevent manipulative trading and market abuse. The 

general fee waiver in the Program does not impact the Exchange’s order execution. All market participants that 

execute trades in CME STIR Options on Globex shall be entitled to participate. Chapter 4 of the Exchange rules 

includes prohibitions against fraudulent, non-competitive, unfair, or abusive practices. The Program is subject to 

these rules. 

CME certifies that the Program complies with the CEA and the regulations thereunder. There were no substantive 

opposing views to this Program.

The Exchange certifies that this submission has been concurrently posted on the Exchange’s website at 

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

If you require any additional information regarding this submission, please e-mail 

CMEGSubmissionInquiry@cmegroup.com or contact Rachel Johnson at 312-466-4393 or via e-mail at 

Rachel.Johnson@cmegroup.com. Please reference our CME Submission No. 23-528 in any related correspondence.

Sincerely,

/s/ Timothy Elliott

Managing Director and Chief Regulatory Counsel

Attachment: Exhibit 1
EXHIBIT 1

Globex Give Up Fee Waiver Program for CME STIR Options

Program Purpose

The purpose of this Program is to incentivize market participants to trade CME STIR options on the CME 

Globex Platform. The resulting increase in liquidity on the CME Globex Platform benefits all participant 

segments in the market.

Product Scope

All CME STIR options contracts that are traded on the CME Globex Platform (“Products”).

Eligible Participants

There is no limit to the number of participants that may participate in the Program. Participants may be 

any CME member or non-member. The fee incentives described below will be automatically applied to all 

executed trades in the Products made by market participants.

Program Term 

Start date is September 3, 2013. End date is January 31, 2024 January 31, 2025.

Hours

ETH

Incentives

Fee Waivers: All market participants will have their Give Up Surcharge fees waived for trades executed in 

the Products on Globex.