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ARTICLE · 23 SEPTEMBER 2014

Update To New CME Rule On Disruptive Trading Practices Summary Chart

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The Chicago Mercantile Exchange Inc. submitted a notice of a rule adoption to the Commodity Futures Trading Commission.

United StatesFinance and Banking
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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On August 28, 2014, the Chicago Mercantile Exchange Inc., the Board of Trade of the City of Chicago, the New York Mercantile Exchange, Inc., and the Commodity Exchange, Inc. (collectively, the "CME") submitted a notice of a rule adoption to the Commodity Futures Trading Commission (the "CFTC") regarding new Rule 575, titled "Disruptive Practices Prohibited." Rule 575 became effective September 15, 2014. The CME also issued Market Regulation Advisory Notice RA1405-5 ("CME MRAN") which, with new Rule 575, provides regulatory guidance on various types of prohibited disruptive order entry and trading practices. On September 11, 2014, the Futures Industry Association ("FIA") hosted a webinar with staff from the CME to discuss new Rule 575 and the CME MRAN. This Clients & Friends Memo updates our previous memo on this topic based on FIA's webinar. In addition, on September 15, 2014, CME issued an updated MRAN with "minor modifications" based on CME's discussions with the

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