SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 22-405 (1 of 2)

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

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): 10/05/22 Filing Description: Decrease of the Minimum Price 

Increment for Basis Trade at Index Close (“BTIC”) Transactions on Yen Denominated 

TOPIX 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: 

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: Yen Denominated TOPIX Index Futures

Rule Numbers: 371.
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

October 5, 2022

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. Decrease of the Minimum Price Increment for 

Basis Trade at Index Close (“BTIC”) Transactions on Yen Denominated TOPIX Index 

Futures Contracts

CME Submission No. 22-405 (1 of 2)

Dear Mr. Kirkpatrick:

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

Commission (“CFTC” or “Commission”) a decrease in the minimum price increment for Basis Trade at Index 

Close ("BTIC") transactions on the Yen Denominated TOPIX Index Futures contract (Globex Code: TPY;

BTIC Code: TPB; Rulebook Chapter CME 371) (the "Contract") as noted in the table below effective 

Sunday, November 20, 2022 for trade date Monday, November 21, 2022. 

Contract Title

CME 

Rulebook 

Chapter

CME Globex

and

CME 

ClearPort 

Code

CME Globex 

BTIC Code

Current 

Minimum 

Price 

Increment

Decreased

Minimum 

Price 

Increment

Yen 

Denominated 

TOPIX Index 

Futures

371 TPY TPB

0.10 Index 

points, equal 

to ¥500 per 

contract

0.025 Index 

points, equal 

to ¥125 per 

contract

Specifically, the Exchange is amending CME Rule 37106.C. (“BTIC Minimum Price Increments”) to 

decrease the minimum price increment of the Contract for trades executed on the CME Globex electronic 

trading platform (“CME Globex”) and for submission of clearing via CME ClearPort from 0.10 index points 

to 0.025 index points.

As a result of the aforementioned change, CME is concurrently implementing corresponding changes to 

CME Rule 588.H. (“Globex Non-Reviewable Trading Ranges”) table (the “Table”) located in Chapter 5 

(collectively, the “Rule Amendments”).

The Rule Amendments are being implemented to facilitate trading by further aligning the product terms with 

other tradable products relating to the underlying index. 

Exhibit A below provides amendments to CME Rule 37106.C. in blackline format. Exhibit B below provides 

amendments to the Table in blackline format.

The Exchange reviewed the designated contract market core principles (“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: 
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com

2

Availability of General Information: The Exchange will release a Special Executive Report 

(“SER”) regarding the Rule Amendments. The SER will also be posted on the CME Group website.

Daily Publication of Trading Information: CME will continue to publish contract trading volumes, 

open interest levels, and price information daily on its website and through quote vendors for the 

Contract.

Prevention of Market Disruption: Trading in the Contract will continue to be subject to the rules 

of the Exchange, which include prohibitions on manipulation, price distortion, and disruption to the 

cash settlement process.

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, including regulations under the Act. There were no substantive 

opposing views to the proposal. 

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. 

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

Attachments: Exhibit A - Amendments to CME Rule 37106.C. (blackline format)

Exhibit B - Amendments to CME Rule 588.H. (“Globex Non-Reviewable Trading Ranges”)

 Table
3

Exhibit A

CME Rulebook

Chapter 371

Yen Denominated TOPIX Index Futures

(additions underscored; deletions struck through)

***

37106. BASIS TRADE AT INDEX CLOSE (“BTIC”) TRANSACTIONS

***

37106.C. BTIC Minimum Price Increments

The minimum price increment shall be 0.10.025 Index points, equal to ¥500¥125 per contract, for any 

basis adjustment that is applied to the Index closing level to establish the futures price of a BTIC

transaction.

[Remainder of Rule unchanged]

Exhibit B

CME Rulebook

Chapter 5

(“Trading Qualifications and Practices”)

Rule 588.H. – (“Globex Non-Reviewable Trading Ranges”) Table

(additions underscored; deletions struck through)

Instrument Globex Symbol

Globex 

Non-Reviewable 

Ranges (NRR)

NRR: 

Globex 

Format 

NRR: 

Minimum 

Ticks

NRR: 

Globex 

Format 

NRR: 

Minimum 

Ticks

BTIC on Yen Denominated TOPIX Futures TPB 2.00 index points 2000 2 0 8 0 N/A N/A

Outrights Spreads