Definition of "Settlement Value" Amended; Maximum Settlement Value for Binary CPI Contracts due to Increase to $100; and Daily Payout Criteria in two (2) Binary Currency Contracts Amended
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Pursuant to Commission Regulation §40.6(a), the HedgeStreet Rule and Instrument Committees have approved actions to a) amend the definition of "Settlement Value", as represented by Rule 1.1(v); b) increase the maximum Settlement Value for its Binary Consumer Price Index Contract to $100; and c) amend the Payout Criteria for the Daily Binary GBP/USD and USD/YEN Contracts.
HedgeStreet certifies with the Commission its intent to amend the Payout Criteria in the following Binary Contracts:
Rule 12.61 Currency Exchange GBP/USD Binary Hedgelet Contracts; and
Rule 12.62 Currency Exchange USD/YEN Binary Hedgelet Contracts.
HedgeStreet implement the amendments to Rule 1.1(v) and 12.61-12.62 above on Wednesday, September 13, 2006.
HedgeStreet will issue the Binary Consumer Price Index Contracts with a maximum Settlement Value of $100 on Monday, September 18, 2006. Since the current Binary Consumer Price Index Contracts that have a maximum Settlement Value of $10 have a Last Trade Date of Thursday, September 14, 2006, there will be no open interest in such $10 contracts upon the close of business of Friday, September 15, 2006.
Click here to view the various rule amendments.
Should you have any questions or require further information, please contact the Compliance Department.