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CFE Amends Rules on ECRPs and Block Trades
Sunday, March 22, 2015

On March 11, the CBOE Futures Exchange, LLC (CFE) extended the reporting window for exchange of contract for related position (ECRP) transactions and clarified when it will provide written confirmations of ECRPs transactions and block trades. CFE Rule 414 currently provides that an authorized reporter for each party to an ECRP must provide the CFE help desk with the terms of an ECRP transaction within 10 minutes after the transaction is executed. The CFE is extending the reporting window for ECRP transactions to 30 minutes. 

In addition, the CFE proposes to amend its rules on ECRPs and block trades to clarify that the help desk can provide written transaction summaries for ECRPs and block trades on either the business day when the transaction is submitted for clearing or the calendar date of the transaction. The rules currently imply that the help desk only provides such summaries on the business day when the transaction is submitted for clearing. 

The proposed amendments, which take effect immediately, are available here.

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