SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 23-370

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

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): 09/11/23 Filing Description: Amendments to the Termination of 

Trading of the Korean Won/U.S. Dollar (KRW/USD) Futures and Monthly Options 

Contracts and the Temporary Suspension of Trading and Clearing of Certain Contract 

Months

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

September 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 the Termination of 

Trading of the Korean Won/U.S. Dollar (KRW/USD) Futures and Monthly 

Options Contracts and the Temporary Suspension of Trading and Clearing 

of Certain Contract Months.

CME Submission No. 23-370

Dear Mr. Kirkpatrick:

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

Commission (“CFTC” or “Commission”) amendments to Rule 27101.G. (“Termination of Trading”) of the 

Korean Won/U.S. Dollar (KRW/USD) Futures and Monthly Options contracts (the “Contracts”) for trades 

executed on the CME Globex electronic trading platform (“CME Globex”) and for submission of clearing via 

CME ClearPort as more specifically described in Table 1. below effective on September 26, 2023.

The only contract months of the Contracts that will be impacted are November 2023 and May 2024. 

Therefore, effective immediately the Exchange suspended trading and clearing of the November 2023 and 

May 2024 contact months of the Contracts (collectively, the “Rule Amendments”). There is no open interest 

in these contract months.

Table 1.

Contract Title

CME Globex

and

CME ClearPort 

Code

Rulebook 

Chapter Current Last Trade Date Amended Last Trade Date

Korean Won/U.S. Dollar 

(KRW/USD) Futures KRW 271

Second Seoul business day

immediately preceding the third 

Wednesday of the contract month

Third Monday of the contract 

month. If that is a bank holiday in 

Seoul futures trading terminates 

on the preceding business day.

KRW/USD Monthly 

Options KRW 271A

Second Seoul business day

immediately preceding the third 

Wednesday of the contract month

Third Monday of the contract 

month. If that is a bank holiday in 

Seoul futures trading terminates 

on the preceding business day.

Specifically, the Exchange is implementing the Rule Amendments to change the termination of trading from 

the second Seoul business day immediately preceding the third Wednesday of the contract month to the 

third Monday of the contract month. If the foregoing date for termination is a bank holiday in Seoul, futures 

trading shall terminate on the preceding business day.
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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Market participants have requested the Rule Amendments to align the termination of trading of the 

Contracts with the Korea Exchange (KRX) KRW/USD contracts which terminate on the third Monday of the 

contract month.

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 termination of trading 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 termination of trading for the Contracts. In addition, 

the Exchange will publish a Special Executive Report (“SER”) to inform the marketplace of the Rule 

Amendments. 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 27101.G. (“Termination of Trading”)

(blackline format) 
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EXHIBIT A

CME Rulebook

(Additions are underlined; deletions are struck through.)

Chapter 271

Korean Won/U.S. Dollar (KRW/USD) Futures

***

27101. TRADING SPECIFICATIONS

***

27101.G. Termination of Trading

Futures trading shall terminate at 3:30 p.m. Seoul time on the second Seoul Business Day immediately preceding 

the third Wednesday third Monday of the contract month. If the foregoing date for termination is a bank holiday in 

Seoul, futures trading shall terminate on the preceding Business Day.

***

[End of Rule.]