Novels

i CME SEF Definitions... 6 Chapter 1 Access PDF

Description
i CME SEF Definitions... 6 Chapter 1 Access ELIGIBILITY AND PARTICIPANT QUALIFICATION CONTINUED ELIGIBILITY AUTHORIZED BROKERS OR AUTHORIZED MANAGERS AUTHORIZED TRADERS...
Categories
Published
of 18
22
Categories
Published
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Share
Transcript
i CME SEF Definitions... 6 Chapter 1 Access ELIGIBILITY AND PARTICIPANT QUALIFICATION CONTINUED ELIGIBILITY AUTHORIZED BROKERS OR AUTHORIZED MANAGERS AUTHORIZED TRADERS PARTICIPANT APPLICATION PROCESS ACCESS PRIVILEGES OF A PARTICIPANT CUSTOMERS DUES, ASSESSMENTS AND FEES NOTICES TO PARTICIPANTS COMMUNICATIONS BETWEEN CME SEF AND PARTICIPANTS DESCRIPTION OF PARTICIPANT S STATUS WITHDRAWAL OF A PARTICIPANT ISVS DISCLOSURES AND SUPERVISION ADDITIONAL DUTIES AND RESPONSIBILITIES OF SWAP DEALERS AND MAJOR SWAP PARTICIPANTS [RESERVED] 123. COMPLIANCE WITH THE COMMODITY EXCHANGE ACT.. Chapter 2 Government [RESERVED]... BOARD OF DIRECTORS POWERS AND DUTIES GENERAL [RESERVED] CME SEF FACILITIES [RESERVED] AVOIDING CONFLICTS OF INTEREST IN SIGNIFICANT ACTIONS [RESERVED]... CME SEF OFFICERS AND EMPLOYEES INDEMNIFICATION OF CERTAIN PERSONS CME SEF PHYSICAL EMERGENCIES... Chapter 3 - CME SEF Committees COMMITTEES... Chapter 4 - Enforcement of Rules GENERAL PROVISIONS THE CHIEF COMPLIANCE OFFICER BUSINESS CONDUCT COMMITTEE AUTHORIZED REPRESENTATIVES... Copyright Chicago Mercantile Exchange, Inc. All rights reserved. Page 1 of 65 [RESERVED] PROBABLE CAUSE COMMITTEE INVESTIGATION, CHARGING MEMORANDUM AND NOTICE OF CHARGES CONDUCT OF HEARINGS LETTERS OF WARNING [RESERVED] APPEAL TO A HEARING PANEL OF THE BOARD OF DIRECTORS RESERVED SUMMARY ACCESS DENIAL ACTIONS INVESTIGATIONS BY OTHER SELF-REGULATORY ORGANIZATIONS COOPERATION WITH OTHER EXCHANGES, SWAP EXECUTION FACILITIES AND CLEARING ORGANIZATIONS AND INTERNATIONAL GOVERNMENT INFORMATION-SHARING AGREEMENTS CONFLICTS OF INTEREST PROHIBITED COMMUNICATIONS CONSENT TO CME SEF JURISDICTION [RESERVED] GENERAL OFFENSES STRICT LIABILITY FOR THE ACTS OF AGENTS [RESERVED] EFFECT OF SUSPENSION OR EXPULSION [RESERVED] NOTICE OF DISCIPLINE [RESERVED] PARTICIPANT S INDEMNIFICATION LIABILITY CLAIMS BY PARTICIPANTS COMMUNICATIONS WITH THE PUBLIC AND PROMOTIONAL MATERIAL NOTIFICATION OF SIGNIFICANT EVENTS [RESERVED] PAYMENTS OF DISCIPLINARY FINES, DISGORGEMENT ORDERS AND RESTITUTION... Chapter 5 - Qualifications for Execution and Trading Practices SCOPE AUTHORIZED TRADERS INFORMATION PROVIDED BY PARTICIPANTS TRADING QUALIFICATIONS AND REGULATIONS REPORTING INFRACTIONS [RESERVED] RECORDING OF COMMUNICATIONS DIRECT ACCESS BY CUSTOMERS, NON-PARTICIPANTS PROHIBITED [RESERVED]... TRADING PRACTICES... Copyright Chicago Mercantile Exchange, Inc. All rights reserved. Page 2 of 65 520. TRADING CONFINED TO CME SEF FACILITIES REQUIRED TRANSACTIONS [RESERVED] PERMITTED TRANSACTIONS RESERVED PRE-EXECUTION CREDIT CHECKS BLOCK TRADES ERRORS AND MISHANDLING OF CUSTOMER ORDERS SWAP DATA REPOSITORY AND COMMISSION REPORTING WITHHOLDING ORDERS PROHIBITED PRIORITY OF CUSTOMERS' ORDERS TRADING AGAINST CUSTOMERS' ORDERS PROHIBITED DISCLOSING ORDERS PROHIBITED SIMULTANEOUS BUY AND SELL ORDERS FOR DIFFERENT BENEFICIAL OWNERS WASH TRADES PROHIBITED [RESERVED] RECORDKEEPING REQUIREMENTS FOR GLOBEX OR CME DIRECT, AND NEGOTIATED TRADES DATA SUBMITTED TO CME SEF [RESERVED] PREARRANGED, PRE-NEGOTIATED AND NONCOMPETITIVE TRADES PROHIBITED RESPONSIBILITY FOR CUSTOMER ORDERS [RESERVED] DISCRETIONARY ORDERS PRIORITY OF EXECUTION [RESERVED] AVERAGE PRICE SYSTEM [RESERVED] POSITION LIMITS AND EXEMPTIONS POSITION ACCOUNTABILITY REPORTS OF LARGE POSITIONS POSITION LIMIT VIOLATIONS [RESERVED]... GLOBEX OR CME DIRECT ELECTRONIC TRADING SYSTEM RULES GLOBEX OR CME DIRECT ACCESS RESTRICTIONS DISRUPTIVE PRACTICES PROHIBITED IDENTIFICATION OF GLOBEX OR CME DIRECT TERMINAL OPERATORS [RESERVED] LIMITATION OF LIABILITY, NO WARRANTIES GLOBAL COMMAND CENTER... Copyright Chicago Mercantile Exchange, Inc. All rights reserved. Page 3 of 65 580. CME GLOBEX OR CME DIRECT TRADE MATCHING ALGORITHMS [RESERVED] TRADE CANCELLATIONS AND PRICE ADJUSTMENTS REGULATORY SERVICES PROVIDER... Chapter 6 - Arbitration JURISDICTION DISPUTES SUBJECT TO CME ARBITRATION CLAIMS... FILING PROCEDURES INITIATING AN ARBITRATION CLAIM ANSWERING AN ARBITRATION CLAIM FAILURE TO ANSWER COUNTERCLAIMS, CROSS-CLAIMS AND THIRD-PARTY CLAIMS REVIEW OF ARBITRABILITY CONSOLIDATION OF ARBITRATION DISPUTES WITHDRAWAL OF CLAIMS PERIOD OF ELIGIBILITY FOR ARBITRATION PARALLEL PROCEEDINGS... PRE-HEARING PROCEDURES REQUESTS FOR DOCUMENTS, INFORMATION OR TESTIMONY DOCUMENTS AND WITNESSES TO BE PRESENTED AT HEARING ADDITIONAL PROCEDURES... HEARINGS ARBITRATION PANEL HEARING PROCEDURES... DECISIONS AWARDS CORRECTION OF AWARD SATISFACTION OF AWARD1... APPEALS APPEALS STANDARDS AND PROCEDURES FOR REVIEW UPON APPEAL... ADDITIONAL CLAIMS CERTAIN CLAIMS AGAINST CME SEF INVOLVING TRADING SYSTEMS OR SERVICES CLAIMS RELATING TO TRADE CANCELLATIONS OR PRICE ADJUSTMENTS... MISCELLANEOUS RIGHT TO COUNSEL COMPUTATION OF TIME SUBMISSIONS TO OR COMMUNICATIONS WITH THE PANEL... Copyright Chicago Mercantile Exchange, Inc. All rights reserved. Page 4 of 65 626. ARBITRATION FEES... ARBITRATION COMMITTEE ARBITRATION COMMITTEE... Chapter 7 Force Majeure DECLARATIONS OF FORCE MAJEURE... Chapter 8 - Clearing CLEARING HOUSE CLEARING MEMBERS CLEARED SWAPS FAILURE TO CLEAR... Chapter 9 [Reserved] Chapter 10: US Midwest Busheling Ferrous Scrap (AMM) Swap Chapter 11: Transco Zone 6 Natural Gas (Platts IFERC) Fixed Price Swap Copyright Chicago Mercantile Exchange, Inc. All rights reserved. Page 5 of 65 i CME SEF Definitions DEFINITIONS Act or CEA The term Act or CEA shall mean the Commodity Exchange Act, as amended from time to time. Affected Person has the meaning set forth in Rule 304. Affiliate Appeal Panel Applicable Law Authorized Broker Authorized Manager Authorized Representative Authorized Trader Block Trade Board Business Day By-Laws CEA Certificate of Incorporation CFTC or Commission CFTC Regulations Chairman Chief Compliance Officer or CCO with respect to any Person, any Person who, directly or indirectly, Controls, is Controlled by, or is under common Control with, such other Person. a panel comprised of a chairman and two individuals appointed by the Board to consider appeals under Chapter 4. At least one member of the Appeal Panel shall be a Public Individual, as determined by the Board. with respect to any person, any statute, law, regulation, rule or ordinance of any governmental or self-regulatory authority applicable to such person, including the CEA and CFTC Regulations and, to the extent applicable similar foreign laws or regulations. a person, other than a natural person, that acts as agent in selling or buying Swaps in the name of and on behalf of another person and has Execution Privileges on CME SEF. a person that acts as a third party account manager for an account whereby Swaps are bought and sold. means any natural person who is authorized by a Participant to represent the Participant in SEF matters pursuant to Rule 403. any natural person who authorized by (i) a Participant (which may also be the Participant, if such Participant is a natural person) or (ii) an Authorized Broker with direct access to the SEF Platform, to place Orders on the SEF Platform. A privately negotiated swap transaction that is executed apart from the public auction market and that is permitted in designated contracts subject to specified conditions. These trades are governed by Rule 526 (Block Trades). The Board of Directors of CME Inc. or any other body acting in lieu of and with the authority of the Board. In a given swap, any day on which CME SEF is open for trading. The By-Laws of CME, unless otherwise specified. the Commodity Exchange Act, as amended. The Certificate of Incorporation of the CME, unless otherwise specified. The U.S. Commodity Futures Trading Commission. the rules, regulations, orders, interpretations or similar instruments promulgated by the CFTC, as amended. The Chairman of the Board of Directors, or one acting in lieu of and with the authority of the Chairman of the Board. The individual designated pursuant to CFTC Regulation to serve as the chief compliance officer of CME SEF. Copyright Chicago Mercantile Exchange, Inc. All rights reserved. Page 6 of 65 Chief Executive Officer or CEO Cleared Swap Clearing Account Clearing House Clearing House Rules Clearing Member CME CME Direct CME Direct Terminal Operator CME Group CME SEF The Chief Executive Officer of CME Inc. or one duly authorized to act in lieu of and with the authority of the Chief Executive Officer. any Swap that is subject to the mandatory clearing requirement set forth in CEA 2(h)(1)(A) or is otherwise submitted for clearing by a DCO as a Permitted Transaction. the clearing account(s) with a Clearing Member that is eligible to be used for SEF Activity. such derivatives clearing organization(s) as CME SEF may designate in the future to provide clearing services with respect to any or all of its Cleared Swaps. To the extent that CME SEF designates multiple clearing organizations to provide clearing services at any given time, the term Clearing Houses shall refer to any clearing organization designated to provide such services with respect to any or all Cleared Swaps. the Certificate of Incorporation, the By-laws and any rule, interpretation, stated policy, or instrument corresponding to any of the foregoing, in each case as adopted or amended from time to time by the Clearing House relating to any or all of the Swaps. any member of the Clearing House that is authorized pursuant to the Clearing House Rules and applicable SEF Rules to clear trades in any or all of the Swaps. the Chicago Mercantile Exchange Inc., or its successor. the CME-provided front-end trading application used to access CME SEF CME Direct terminal operator refers to 1) any person who physically enters orders into CME Direct or 2) any automated trading system which enters orders into CME Direct, either directly or through an automated order routing system or independent software vendor. All CME Direct terminal operators must be identified to CME SEF in accordance with the provisions of Rule 576 (Identification of Globex or CME Direct Terminal Operators). CME Group Inc. or its successor. the Swap Execution Facility Division of Chicago Mercantile Exchange Inc. Committee has the meaning set forth in Rule 300. Contract Contract Market Control Customer Customer Account Derivatives Clearing Organization Director Disciplinary Offense Disciplinary Panel Depending on the context in which it is used, a term of reference describing either a unit of trading in a particular swap or cleared product or a product approved and designated by the Board for trading or clearing pursuant to the rules of CME SEF. has the meaning set forth in CFTC Regulation 1.3(h). the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of securities, by contract, or otherwise. The terms controlling or controlled shall have meanings correlative to the foregoing. has the meaning set forth in CFTC Regulation 1.3(k). an account carried by a Participant on behalf of a Customer. has the meaning attributed to such term by 1a(15) of the CEA. any member of the Board. Any offense as set forth in Rule 300.E. one or more Review Panels and one or more Hearing Panels that are authorized to fulfill their obligations and discharge their various adjudicative responsibilities and duties pursuant to CFTC Regulation and as described further in Chapter 4. Copyright Chicago Mercantile Exchange, Inc. All rights reserved. Page 7 of 65 ECP Emergency End-User Transaction Execution Privileges Force Majeure Futures Commission Merchant or FCM Globex Terminal Operator Globex Trading Hours GLOBEX Governmental Agency Hearing Panel Holiday Investigative and Hearing Committees Legal Entity Identifier Major Swap Participant Market (MKT) Order Market if Touched(MIT) Order Market on Close(MOC) Order Eligible Contract Participant as defined in CEA 1a(18) Any occurrence or circumstance which, in the opinion of CME SEF, requires immediate action and threatens or may threaten fair and orderly trading, clearing, delivery or liquidation of any contracts on CME SEF. Occurrences and circumstances which CME SEF may deem emergencies are set forth in the SEF Rules. a Trade exempt from the clearing requirement of CEA 2(h)(1) because at least one of the parties to the Trade meets the exemption from the clearing requirement set forth in CEA 2(h)(7). the right granted to a Participant to transmit Orders and/or submit Trades for certain or all Swaps into CME SEF. No person may exercise Execution Privileges on behalf of a Participant during any suspension of such Participant s Execution Privileges. Any circumstance (including but not limited to an act of God, strike, lockout, blockage, embargo, governmental action or terrorist activity) which is beyond the control of the buyer or seller and precludes either party from making or taking delivery of product or precludes CME SEF from determining a final settlement as provided for in CME SEF Rules. has the meaning set forth in CEA 1a(28). Globex terminal operator refers to 1) any person who physically enters orders into Globex or 2) any automated trading system which enters orders into Globex, either directly or through an automated order routing system or independent software vendor. All Globex terminal operators must be identified to CME SEF in accordance with the provisions of Rule 576 (Identification of Globex Terminal Operators). Those hours designated by the Board for trading particular contracts on Globex. Globex refers to CME Globex, an electronic trading platform. any governmental body, agency, authority or office, whether domestic or foreign. a panel of the Business Conduct Committee or a successor Committee that is duly convened and empowered to conduct a hearing pursuant to the procedures in Chapter 6. Any day declared to be a holiday by these rules or by a resolution of the Board on which CME SEF is closed. When any such holiday falls on Sunday, the following Monday shall be considered such holiday. When any such holiday falls on Saturday, the immediately preceding Friday shall be considered such holiday. The investigative and hearing committees of CME SEF are the Business Conduct Committee, the Clearing House Risk Committee, the Floor Conduct Committee, the Probable Cause Committee, Hearing Panels of the Board of Directors and such other committees created for this purpose by the Board. has the meaning set forth in Part 45 of the CFTC Regulations. has the meaning set forth in CEA 1a(33). An order with instructions to be executed at the best available price. A sell (buy) order placed above (below) the market which becomes a market order when the designated price is touched. An order to be executed only in the closing range. Copyright Chicago Mercantile Exchange, Inc. All rights reserved. Page 8 of 65 Market Regulation Department Market with Protection Order Minimum Quantity Order Minimum Trading Functionality MROC NFA Non-Reviewable Range Notice Notice of Charge Notice to Participants Obligation All agents of CME SEF (including the CCO and Regulatory Services Providers) that assist CME SEF in the implementation, surveillance and enforcement of the SEF Rules and other Obligations. An order to execute as much of order as possible at the best current offer price (for buy orders) or bid price (for sell orders) within a range of prices predefined by CME SEF (the protected range). Any quantity which cannot be filled within the protected range will remain in the order book as a limit order at the limit of the protected range. An order which is executed only if a certain minimum quantity of that order can be immediately matched. Any unfilled balance will remain in the book as a limit order at the specified price. has the meaning set forth in CFTC Regulation 37.3(a)(2). the Market Regulation Oversight Committee of the Board of CME Inc. or any successor body that fulfills the oversight functions and obligations of a Regulatory Oversight Committee in accordance with CFTC Regulations. the National Futures Association. for any Swap, the range set forth in Rule 588.H. Except as otherwise specifically provided, a notice in writing ed to or personally served upon the person to be notified, left at his usual place of business during business hours or mailed by U.S. First Class Mail, Certified Mail, Registered Mail or by overnight delivery to his last known place of business or residence. a notice sent by the Market Regulation Department pursuant to Rule 407.B. a communication sent by or on behalf of CME SEF to all Participants as described in Rule 109. each SEF Rule, order or procedure issued by CME SEF, including Notice to Participants, and other requirement implemented by CME SEF under the SEF Rules, including each term of a Swap, as well as any contractual obligations between a Clearing Member or Participant and CME SEF. Officer has the meaning attributed to such term in Rule 204. One-Cancels Other (OCO) Order Open Order (Good-till-Cancelled) Opening Only Order Order Order Book A combination of two orders, in which the execution of either one automatically cancels the other. An order which remains in force until cancelled. Without such designation, all unfilled orders are cancelled at the end of the Regular Trading Hours Session. An order that is to be executed during the time period designated by CME SEF as the Regular Trading Hours session opening range time period. Any remaining unfilled quantity not executed during the time period designated as the opening range will be deemed cancelled. a response to a Request for Quote, a response to a Resting Quote that is executable within a prescribed time period of the posting of a quote on the SEF Platform, or the display of a firm quote on the Order Book. i) an electronic trading facility as defined in CEA 1a(16), ii) a trading facility as defined in CEA 1a(51), or iii) a trading system or platform in which all market participants in the trading system or platform have the ability to enter multiple bids and offers, observe or receive bids and offers entered by other market participants, and transact on such bids and offers. Copyright Chicago Mercantile Exchange, Inc. All rights reserved. Page 9 of 65 Panel Panelist Participant Participant Agreement Participant ID Permitted Transaction Person President Proprietary Account A subcommittee selected in accordance with committee procedure to adjudicate or make a particular determination. A decision of a panel shall be deemed a decision of the committee. An individual appointed to a CME SEF committee who is entitled to participate in a decision on any matter under consideration by the committee or panel thereof. any person that has been granted, and continues to have, Execution Privileges under the SEF Rules, including all persons authorized under SEF Rules to enter Orders and/or submit Trades by or on behalf of a Participant. the agreements (together with any applicable schedules, exhibits or appendices thereto required by CME SEF) in form and substance acceptable to CME SEF, that are required to be executed and delivered to CME SEF before a Participant may access the SEF Platform. a unique identifier assigned to a Participant by CME SEF to facilitate access to CME SEF. any Swap transaction that is permissible under Applicable Law and is not a Required Transaction. It shall include the singular or plural, and individuals, associations, partnerships, corporations and trusts. The president of CME Inc., or one duly authorized to act in lieu of and with the authority of the President. has the meaning ascribed to it by CFTC Regulation 1.3(y). Public Director has the meaning set forth Rule 203. Recipient Regular Trading Hours (RTH) Regulatory Services Agreement means, with respect to any Requestor sending an RFQ to buy or sell a Swap via the RFQ System, a Participant that is not i) the Requestor, ii) an Affiliate of or Controlled by the Requestor, or iii) an Affiliate of or Controlled by another Recipient receiving the same RFQ via th
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks
SAVE OUR EARTH

We need your sign to support Project to invent "SMART AND CONTROLLABLE REFLECTIVE BALLOONS" to cover the Sun and Save Our Earth.

More details...

Sign Now!

We are very appreciated for your Prompt Action!

x