Position limits revised and monitoring tied to prior-day open interest; passive breaches exempt from penalties and forced unwind. Aggregate Trading Member position limits for index futures and index options are raised to a higher fixed threshold or market-share percentage and remain applicable separately by contract type. Market open interest for monitoring will be measured using the prior trading day's closing open interest; passive breaches arising solely from a decline in market open interest will not be penalised or require unwinding. Exchanges and clearing corporations must amend their bye-laws, implement the changes, and notify participants.
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Provisions expressly mentioned in the judgment/order text.
Position limits revised and monitoring tied to prior-day open interest; passive breaches exempt from penalties and forced unwind.
Aggregate Trading Member position limits for index futures and index options are raised to a higher fixed threshold or market-share percentage and remain applicable separately by contract type. Market open interest for monitoring will be measured using the prior trading day's closing open interest; passive breaches arising solely from a decline in market open interest will not be penalised or require unwinding. Exchanges and clearing corporations must amend their bye-laws, implement the changes, and notify participants.
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