CME lifts E-Mini contract limits.(Chicago Mercantile Exchange)(Brief Article)

Futures (Cedar Falls, Iowa), June, 2001

Perhaps gearing up for an IPO that could come as early as 2002, the CME in April made some important changes to its most popular retail contracts. The exchange lifted the 30-contract limit in the E-Mini S&P 500 futures and initiated safeguards for its equity index products.

As of May 6, all orders placed in the electronic equities index markets must be less than 250 contracts. Any order greater than that quantity must be split and entered separately in an effort to reduce errors both from keyboard entry and customer mistakes. The move re-introduces limits to the E-Mini Nasdaq, which had been limit less since last summer.

The limit increase also follows the initiation of price "banding" or limiting buy limit orders above the market and sell limit...

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