CME Issues Advisory Notice Regarding the Termination of Temporary Waiver of Annual Application for Position Limits Exemption

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Market participants that are currently operating under an exemption from speculative position limits that would have expired on or before May 31 must submit updated position limit exemption applications by May 31 in order to continue holding positions that exceed the speculative position limit after that date. Any market participant that relied on the temporary waiver and has not filed an updated annual application due between December 20, 2011 and May 31, 2012, must file such an application no later than May 31, 2012.

Notwithstanding the termination of the temporary waiver, all market participants currently operating under the terms of an Exchange-granted exemption from speculative position limits remain bound by, and must comply with, all relevant terms and conditions of such exemptions and Exchange rules.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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