DJIA Index Futures - Get current DJIA Index futures prices, quotes, historical charts, breaking DJIA Index futures news and futures contract specifications.
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Disclaimer: This material is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
|Contract Size||The unit of trading shall be $10.00 times the DJIA.|
|Venue||CME Globex, Open Outcry (New York)|
|CME Globex Hours (Electronic Platform)||MON-THURS: 3:30 p.m.-8:15 a.m. (daily maintenance shutdown from 4:30 p.m.-5:00 p.m.) SUN: 5:00 p.m.-8:15 a.m|
|Open Outcry Hours (EST)||MON-FRI: 8:30 a.m.-3:15 p.m.|
|Minimum Fluctuation||The price of CBOT $10 Dow futures shall be quoted in points. One point equals $10.00. The minimum price fluctuation shall be one point per contract. Contracts shall not be made on any other price basis.|
In accordance with Rule 559., Position Limits and Exemptions, no person shall own or control positions in excess of 50,000 contracts net long or short in all months combined.
The aggregate position limit in DJIA Index ($25 multiplier) futures, mini-sized Dow futures ($5 multiplier) and options, and DJIA Index ($10 multiplier) futures and options is 50,000 DJIA Index futures contracts, net long or net short in all contract months combined. For the purposes of this rule:
- One DJIA Index ($10 multiplier) futures contract shall be deemed to be equivalent to two mini-sized Dow ($5 multiplier) contracts.
- One DJIA Index ($25 multiplier) futures contract shall be deemed to be equivalent to five mini-sized Dow ($5 multiplier) contracts.
- Two DJIA Index ($25 multiplier) futures contracts shall be deemed to be equivalent to five DJIA Index ($10 multiplier) futures contracts.
Refer to Rule 559. for requirements concerning the aggregation of positions and allowable exemptions from the specified position limits.
|Accumulation of Positions||For the purpose of this rule, the positions of all accounts directly or indirectly owned or controlled by a person or persons, and the positions of all accounts of a person or persons acting pursuant to an expressed or implied agreement or understanding, and the positions of all accounts in which a person or persons have a proprietary or beneficial interest, shall be cumulated.|
|Exemptions||The foregoing position limits shall not apply to (1) bona fide hedge positions meeting the requirements of Regulation 1.3(z)(1) of the CFTC and the rules of the Exchange, and shall not apply to arbitrage positions an inter-commodity spread positions subject to Rule 559.|
CME Globex:Four Months in the March Quarterly Cycle (Mar, Jun, Sep, Dec)
Open Outcry: Four months in the March Quarterly Cycle (Mar, Jun, Sep, Dec)
|Last Trade Date/Time|| |
Open Outcry: 3:15 p.m. on Thursday prior to 3rd Friday of the contract month
CME Globex: Trading can occur up to 8:15 a.m. on the 3rd Friday of the contract month
|Termination of Trading|| |
Futures trading shall terminate 15 minutes prior to the regularly scheduled start of trading at the NYSE on the day scheduled for the determination of the Final Settlement Day.
After trading in contracts for future delivery in the current delivery month has ceased, outstanding contracts for such delivery shall be liquidated by cash settlement as prescribed in Rule 26103.
|Daily Price Limits|
Daily price limits and trading halts of the CBOT DJIA Index ($10 Multiplier) futures contract shall be coordinated with trading halts of the underlying stocks listed for trading in the securities markets.
For purposes of this rule, the primary contract expiration month for CBOT DJIA Index ($10 Multiplier) futures contracts shall be defined as the futures contract that trades in the lead month configuration. Exchange staff shall have the responsibility of determining whether the primary contract expiration month is limit bid or limit offered.
For the first day of trading in a newly listed contract expiration month, there will be an implied previous business day’s settlement price, created by the Exchange for the sole purpose of establishing price limits. The implied settlement price will be created by extrapolating the annualized percentage carry between the two contract months immediately prior to the newly listed contract.
For each calendar quarter, there shall be three successive price limits: Level 1, Level 2, and Level 3. The limit thresholds that define Levels 1, 2, and 3 shall be calculated at the beginning of the pertinent calendar quarter, using the average daily closing value of the DJIA for the calendar month prior to the beginning of such calendar quarter. The Level 1 limit threshold shall equal 10% of such average daily closing value, the Level 2 limit threshold shall equal 20% of such average daily closing value, and the Level 3 limit threshold shall equal 30% of such average daily closing value. Each limit threshold shall be rounded to the nearest fifty DJIA index points.
These three limit thresholds, so computed, shall remain in effect throughout the pertinent calendar quarter, until the next calculation. These limit thresholds shall be used to calculate price limits for each trading session within the pertinent calendar quarter, as follows:
Level 1 shall equal the settlement price of the preceding regular trading session minus the Level 1 limit threshold.
Level 2 shall equal the settlement price of the preceding regular trading session minus the Level 2 limit threshold.
Level 3 shall equal the settlement price of the preceding regular trading session minus the Level 3 limit threshold.
|Price Limits During Regular Trading Hours|| |
The following price limits and trading halts shall apply to open outcry and electronic trading, in the primary contract expiration month only, during the Exchange’s regular trading hours. For purposes of this rule, “regular trading hours” are defined for CBOT DJIA Index ($10 Multiplier) futures to begin with the time of the open for open outcry trading in DJIA futures, and to end with the later of the time of the close of open outcry trading, or the conclusion of any daytime electronic trading session that is part of the same trading day.
(a) Level 1:
When the primary futures contract is limit offered at the Level 1 Price Limit, a 10-minute period shall commence. If the primary futures contract is limit offered at the end of the 10-minute period, trading shall terminate for a period of two minutes, after which time the market shall reopen. The next applicable price Limit shall apply to such reopening.
(b) Level 2:
When the primary futures contract is limit offered at the Level 2 Price Limit, a 10-minute period shall commence. If the primary futures contract is limit offered at the end of the 10-minute period, trading shall terminate for a period of two minutes, after which time the market shall reopen. The next applicable price Limit shall apply to such reopening.
(c) Level 3:
The Level 3 price limit shall be in effect during all regular trading hours. In the event that trades on the electronic trading platform occur through the price limits described above, any such trades may be busted by the Exchange.
|Trading Halts|| |
If there is an NYSE Rule 80B trading halt declared in the primary securities market, trading shall be halted. Once trading in the primary securities market resumes after an NYSE Rule 80B trading halt, trading on the CBOT DJIA (DJIA) Index ($10 Multiplier) futures contract shall resume.
If an NYSE Rule 80B trading halt becomes inapplicable, the corresponding Price Limit shall likewise become inapplicable. E.g., if an NYSE Rule 80B trading halt, triggered by a 10% or a 20% decline in the Dow Jones Industrial Average, has been declared in the primary securities market, and trading in the primary securities market has recommenced, then the 10.0% or 20.0% Price Limits shall become inapplicable, respectively. E.g., when the NYSE Rule 80B 10.0% price limit provisions are suspended after 2:30 p.m. Eastern time, then the 10.0% Price Limit shall become inapplicable. Trading on the CBOT DJIA (DJIA) Index ($10 Multiplier) futures contract shall continue and the next applicable Price Limit shall apply.
|Opening Time|| |
If either a trading halt was in effect or the primary futures contract was locked at a limit at the close of trading, then the opening time of trading on GLOBEX® shall be delayed until 6:00 p.m.
During Electronic Trading Hours (ETH), there shall be no trading of CBOT DJIA Index ($10 Multiplier) futures at a price more than the 5.0% Price Limit above or below the Reference RTH Price. If the market is limit bid or limit offered fifteen (15) minutes prior to the opening of the RTH, and remains limit bid or limit offered five (5) minutes prior to the opening of the RTH, there shall be a trading halt in effect until the commencement of Regular Trading hours (RTH). During the trading halt, the Exchange shall provide an indicative opening price for the re- opening of trading on GLOBEX, if applicable, pursuant to Rule 573. Once RTH commences, the next applicable trading limit shall be in effect.
The 5.0% Price Limit shall be calculated as one-half of the Level 1 or 10% price limit rounded down to the nearest integral multiple of 10 index points.
Delivery under the DJIA Index futures contract shall be by cash settlement. Delivery against the CBOT $10 Dow futures contract must be made through the Clearing House. Delivery under these rules shall be on the final settlement day (as described in Rule 26105.) and shall be accomplished by cash settlement as hereinafter provided.
Clearing members holding open positions in CBOT $10 Dow futures at the time of termination of trading shall make payment to and receive payment through the Clearing House in accordance with normal variation settlement procedures based on a settlement price equal to the final settlement price (as described in Rule 26104.).
|Final Settlement Price|| |
The final settlement price shall be determined on the final settlement day (Rule 26105.). The final settlement price shall be $10 times a Special Opening Quotation (SOQ) of the DIJA based on the opening prices of the component stocks in the index.
If on the regularly scheduled final settlement day, the designated primary market for a DJIA component stock does not open, then the next opening price for that component stock shall be used in the determination of the SOQ.
If, on the regularly scheduled final settlement day, the designated primary market for a DJIA component stock is open, but that component stock does not open for trading, then the last sale price for that component stock shall be used in the determination of the SOQ.
|Final Settlement Day|| |
The final settlement day for an expiring CBOT $10 Dow futures contract shall be the third Friday of the contract expiration month. If the DJIA is not scheduled to be published for that day, then the final settlement day shall be the first preceding business day for which the DJIA is scheduled to be published.
|Grade and Quality Specifications||Please see rulebook chapter 26|
|Exchange Rule||These contracts are listed with, and subject to, the rules and regulations of CBOT.|