SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 23-318

Organization: Chicago Mercantile Exchange Inc. (“CME”)

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): 08/11/23 Filing Description: Amendments to CME Rule XXX01.C. 

(“Price Increments”) to Reduce the Minimum Price Increment for Transactions Submitted 

for Clearing via CME ClearPort for Certain Emerging Market Foreign Exchange (FX) 

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: 

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: See filing.

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

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Christopher Bowen 

Managing Director and Chief Regulatory Counsel

Legal Department

August 11, 2023

VIA ELECTRONIC PORTAL

Mr. Christopher 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. Amendments to CME Rule XXX01.C. (“Price 

Increments”) to Reduce the Minimum Price Increment for Transactions Submitted 

for Clearing via CME ClearPort for Certain Emerging Market Foreign Exchange (FX) 

Futures Contracts.

CME Submission No. 23-318

Dear Mr. Kirkpatrick:

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

Commission (“CFTC” or “Commission”) amendments to CME Rule XXX01.C. (“Price Increments”) to reduce 

the minimum price increment (“MPI”) for transactions submitted for clearing via CME ClearPort for certain 

emerging market foreign exchange (“FX”) futures contracts (the “Contracts”) as more specifically described 

in the Table 1. effective Sunday, October 1, 2023 for trade date Monday, October 2, 2023 (collectively, the 

“Rule Amendments”).

The MPI for trades executed on the CME Globex electronic trading platform (“CME Globex”) remains 

unchanged for the Contracts as also noted in Table 1.

Table 1.

Contract Title

CME 

Rulebook 

Chapter

CME 

Globex / 

CME 

ClearPort 

Code

Current

CME Globex

and

CME ClearPort 

Minimum Price 

Increment

Reduced

CME ClearPort (Only)

Minimum Price 

Increment

Brazilian Real/U.S. Dollar (BRL/USD) Futures 257 6L/BR $0.00005 per BRL $0.000005 per BRL

South African Rand/U.S. Dollar (ZAR/USD) Futures 259 6Z/RA $0.000025 per ZAR $0.000001 per ZAR

Polish Zloty/U.S. Dollar (PLN/USD) Futures 268 PLN/PZ $0.00002 per PLN $0.000001 per PLN

Czech Koruna/U.S. Dollar (CZK/USD) Futures 266 CZK/CZ $0.000002 per CZK $0.0000001 per CZK

Israeli Shekel/U.S. Dollar (ILS/USD) Futures 269 ILS/IS $0.00001 per ILS $0.000001 per ILS

Turkish Lira/U.S. Dollar (TRL/USD) Futures 273 TRL/TRL $0.000005 per TRL $0.0000005 per TRL

Polish Zloty/Euro (PLN/EUR) Futures 317 EPZ/Z €0.00002 per PLN €0.000001 per PLN

Czech Koruna/Euro (CZK/EUR) Futures 315 ECK/K €0.000002 per CZK €0.0000001 per CZK

Indian Rupee/U.S. Dollar (INR/USD) Futures 279 SIR/SIR 0.01 U.S. cents per 100 INR 0.001 U.S. cents per 100 INR

U.S. Dollar/South African Rand (USD/ZAR) Futures 259L ZAR/ZAR 0.0001 ZAR per USD 0.00001 ZAR per USD
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com

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Specifically, the Exchange is implementing amendments to CME Rule XXX01.C. (“Price Increments”) to 

reduce the MPI for the Contracts for transactions submitted for clearing via CME ClearPort. The MPI for 

trades executed on the CME Globex electronic trading platform (“CME Globex”) remains unchanged for the 

Contracts as also noted in Table 1.

The Exchange is implementing the Rule Amendments to more closely align the Contracts with the related 

over the counter market. 

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

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

bearing on the following Core Principles:

• Compliance with the Rules: CME shall continue its normal practice to establish, monitor, and 

enforce compliance with the rules of the Contracts, including the terms and conditions of the 

Contracts’ newly revised rules for the MPI for the Contracts.

• Availability of General Information: The Exchange will amend the CME rulebook accordingly on 

the effective date, which is publicly available on the CME Group website, to reflect the changes 

that will be made to the rules pertaining to the MPI for the Contracts. In addition, the Exchange will

publish a Special Executive Report (“SER”) to inform the marketplace of these amendments to the 

Contracts. The SER will also be posted on the CME Group website.

• Daily Publication of Trading Information: CME will continue to make public daily information on 

settlement prices, volume, open interest, and opening and closing ranges for the Contracts.

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

Amendments, comply with the Act, including all regulations under the Act. There were no substantive 

opposing views to this proposal.

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

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

Should you have any questions concerning the above, please contact the undersigned at (212) 299-2200

or via e-mail at CMEGSubmissionInquiry@cmegroup.com.

Sincerely,

/s/ Christopher Bowen

Managing Director and Chief Regulatory Counsel

Attachment: Exhibit A: Amendments to CME Rule XXX01.C. (“Price Increments”) (blackline 

format)
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EXHIBIT A

CME Rulebook

(additions underscored; deletions overstruck)

Chapter 257 

Brazilian Real/U.S. Dollar (BRL/USD) Futures

***

25701. TRADING SPECIFICATIONS

***

25701.C. Price Increments

For trades executed on CME Globex electronic trading platform, mMinimum price fluctuations shall be in 

multiples of $.00005 per Brazilian real, equivalent to $5.00 per contract. For transactions submitted through 

CME ClearPort, the minimum price fluctuation shall be $.000005 per Brazilian real.

[End of Rule.]

Chapter 259

South African Rand/U.S. Dollar (ZAR/USD) Futures

25901. TRADING SPECIFICATIONS

***

25901.C. Price Increments

For trades executed on CME Globex electronic trading platform, mMinimum price fluctuations shall be in 

multiplies of $.000025 per South African rand, equivalent to $12.50 per contract. For transactions submitted 

through CME ClearPort, the minimum price fluctuation shall be $.000001 per South African rand.

[End of Rule.]

Chapter 268

Polish Zloty/U.S. Dollar (PLN/USD) Futures

***

26801. TRADING SPECIFICATIONS

***

26801.C. Price Increments

For trades executed on CME Globex electronic trading platform, mMinimum price fluctuations shall be in 

multiples of $.00002 per Polish zloty, equivalent to $10.00 per contract. Trades may also occur in multiples of 

$.00001 per Polish zloty, commonly referred to as one-half tick, for Polish zloty/U.S. dollar futures intracurrency spreads, executed as simultaneous transactions pursuant to Rule 542. For transactions submitted 

through CME ClearPort, the minimum price fluctuation shall be $.000001 per Polish zloty.

[End of Rule.]

Chapter 266

Czech Koruna/U.S. Dollar (CZK/USD) Futures

***

26601. TRADING SPECIFICATIONS

***

26601.C. Price Increments 

For trades executed on CME Globex electronic trading platform, mMinimum price fluctuations shall be in 

multiples of $.000002 per Czech koruna, equivalent to $8.00 per contract. Trades may also occur in multiples 

of $.000001 per Czech koruna, commonly referred to as one-half tick, for Czech koruna/U.S. dollar futures 

intra-currency spreads executed as simultaneous transactions pursuant to Rule 542. For transactions 

submitted through CME ClearPort, the minimum price fluctuation shall be $.0000001 per Czech koruna.

[End of Rule.]
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Chapter 269

Israeli Shekel/U.S. Dollar (ILS/USD) Futures

***

26901. TRADING SPECIFICATIONS

***

26901.C. Price Increments 

For trades executed on CME Globex electronic trading platform, mMinimum price fluctuations shall be in 

multiplies of $.00001 per Israeli shekel, equivalent to $10.00 per contract. Trades may also occur in multiples 

of $.000005 per Israeli shekel, commonly referred to as one-half tick, for Israeli shekel/U.S. dollar futures intracurrency spreads, executed as simultaneous transactions pursuant to Rule 542. For transactions submitted 

through CME ClearPort, the minimum price fluctuation shall be $.000001 per Israeli shekel.

[End of Rule.]

Chapter 273

Turkish Lira/U.S. Dollar (TRL/USD) Futures

27301. TRADING SPECIFICATIONS

***

27301.C. Price Increments 

For trades executed on CME Globex electronic trading platform, mMinimum price fluctuations shall be in 

multiples of 0.000005 U.S. dollars per Turkish lira, equivalent to 5 U.S. dollars per contract. Trades may also 

occur in multiples of 0.000001 U.S. dollars per Turkish lira for Turkish lira/U.S. dollar (TRY/USD) futures intracurrency spreads executed as simultaneous transactions pursuant to Rule 542. For transactions submitted 

through CME ClearPort, the minimum price fluctuation shall be 0.0000005 U.S. dollars per Turkish lira.

[End of Rule.]

Chapter 317

Polish Zloty/Euro (PLN/EUR) Futures

***

31701. TRADING SPECIFICATIONS

***

31701.C. Price Increments 

For trades executed on CME Globex electronic trading platform, mMinimum price fluctuations shall be in 

multiples of .00002 Euro per Polish zloty, equivalent to 10 Euro per contract. Trades may also occur in 

multiples of .00001 Euro per Polish zloty, commonly referred to as one-half tick, for PLN/EUR futures intracurrency spreads executed as simultaneous transactions pursuant to Rule 542. For transactions submitted 

through CME ClearPort, the minimum price fluctuation shall be .000001 Euro per Polish zloty.

[End of Rule.]

Chapter 315

Czech Koruna/Euro (CZK/EUR) Futures

***

31501. TRADING SPECIFICATIONS

***

31501.C. Price Increments 

For trades executed on CME Globex electronic trading platform, mMinimum price fluctuations shall be in 

multiples of .000002 Euro per Czech koruna, equivalent to 8 Euro per contract. Trades may also occur in 

multiples of .000001 Euro per Czech koruna, commonly referred to as one-half tick, for CZK/EUR futures intracurrency spreads executed as simultaneous transactions pursuant to Rule 542. For transactions submitted 

through CME ClearPort, the minimum price fluctuation shall be .0000001 Euro per Czech koruna. 

[End of Rule.]

Chapter 279

Indian Rupee/U.S. Dollar (INR/USD) Futures

***

27901. TRADING SPECIFICATIONS

***

27901.C. Price Increments 

For trades executed on CME Globex electronic trading platform, mMinimum price fluctuations shall be in 

multiplies of 0.01 U.S. cents per 100 Indian rupees, equivalent to 5 U.S. dollars per contract. Trades may also 

occur in multiples of 0.005 U.S. cents per 100 Indian rupees (equivalent to 2.50 U.S. dollars per contract), 

commonly referred to as a one-half tick, for Indian rupee/U.S. dollar futures intra-currency spreads executed 
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as simultaneous transactions pursuant to Rule 542. For transactions submitted through CME ClearPort, the 

minimum price fluctuation shall be 0.001 U.S. center per 100 Indian rupees.

[End of Rule.]

Chapter 259L

U.S. Dollar/South African Rand (USD/ZAR) Futures

***

259L01. TRADING SPECIFICATIONS

***

259L01.D. Price Increments 

For trades executed on CME Globex electronic trading platform, mMinimum price fluctuations shall be in 

multiplies of 0.0001 South African rand per U.S. dollar, equivalent to 10 South African rand per contract. 

Trades may also occur in multiples of 0.00005 South African rand per U.S. dollar (equivalent to 5 South African 

rand per contract), commonly referred to as a one-half tick, for U.S. dollar/South African rand futures intracurrency spreads executed as simultaneous transactions on GLOBEX® pursuant to Rule 542.F. For 

transactions submitted through CME ClearPort, the minimum price fluctuation shall be 0.00001 South African 

rand per U.S. dollar.

[End of Rule.]