Position limits for interest rate futures: opening-time limits govern trading and increases barred until compliance achieved. Position limits for Interest Rate Futures are assessed at the time of opening a position; existing positions need not be unwound if open interest later declines, but those participants cannot increase or open new positions in the affected maturity bucket until they comply with applicable position limits. Stock exchanges may require faster reductions for risk management or surveillance reasons, and exchanges and clearing corporations must amend rules, notify members, publish the changes, and report implementation status to the regulator.
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Provisions expressly mentioned in the judgment/order text.
Position limits for interest rate futures: opening-time limits govern trading and increases barred until compliance achieved.
Position limits for Interest Rate Futures are assessed at the time of opening a position; existing positions need not be unwound if open interest later declines, but those participants cannot increase or open new positions in the affected maturity bucket until they comply with applicable position limits. Stock exchanges may require faster reductions for risk management or surveillance reasons, and exchanges and clearing corporations must amend rules, notify members, publish the changes, and report implementation status to the regulator.
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