Whole Section

  • 7.17 Speculative Long and Short Positions; Same Contract Month

    • 7.17.1

      Clearing Members shall not be permitted to carry a speculative long position and a speculative short position for any Third Party or for themselves in the case of futures contracts, in the same Commodity for the same Contract Month and in the case of options contracts, in the same Commodity, for the same class, for the same Contract Month and for the same strike price.

      Amended on 27 March 200627 March 2006, 22 September 200622 September 2006 and 17 July 201917 July 2019.

    • 7.17.2

      The Clearing House may require any Clearing Member to liquidate any or all positions in any Contract belonging to any person concurrently holding a speculative long position and a speculative short position in such Contract.

      Added on 1 October 20091 October 2009.

    • 7.17.3

      Rule 7.17.1 shall not apply if the concurrent long and short speculative positions result from a transfer under Rule 7.27 and such concurrent long and short speculative positions do not extend beyond the Trading Day on which the transfer is reported to the Clearing House.

      Added on 1 October 20091 October 2009.