European Commodities

DECEMBER 9, 2022

Upcoming change in the Joint Appendix 7 Fee list.

Nasdaq Commodities is planning to adjust the clearing fee on seafood contracts. The new clearing fee will be 0,09 NOK/kg for GCMs and 0,10 NOK/kg for Clearing Members. The change will take effect on 1 January 2023.

We have attached the Joint Appendix 7 Fee list showing the amendments in track changes in section 3.4.

• Appendix 7- Fee list (track changes)

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DECEMBER 7, 2022

Nasdaq Clearing AB (the "Clearinghouse") will amend the Clearing Rules of Nasdaq Commodities Markets (the "Clearing Rules").

The changes include the following:

Appendix 9 – Default Fund Rules

Section 3.5 of the Default Fund Rules has been amended to reflect that the buffer to the Commodity Default Fund will normally not exceed 25 (twenty five) per cent of the COM Cover 2 Funds, but may at the Clearinghouse’s discretion be raised to a maximum of 50 (fifty) per cent of the COM Cover 2 Funds during volatile market conditions.

The amendments are subject to regulatory approval and will come into effect 21 December 2022.

• Clearing Appendix 9 - Default Fund Rules (Blackline)

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NOVEMBER 7, 2022

Upcoming changes in the Trading Rules

Nasdaq Commodities is planning to make amendments to the following:

- Joint Appendix 1 - Definitions

- Joint Appendix 2 - Contract Specifications

The purpose of the amendments is to introduce a benchmark fallback protocol that describes what measures Nasdaq Oslo ASA (the "Exchange") may take concerning any instrument or product that refers to a benchmark that is or is proposed to be materially changed or cease to be provided. The protocol is added as a new chapter 6 in part A of the Joint Appendix 2 Contract Specifications. In addition, we make a minor amendment to section 4.1.3 in part A for clarification purposes.

Further, Nasdaq Commodities is planning to list Irish Power Futures. Consequently we are planning to make amendments to the following:

- Joint Appendix 2 - Contract Specifications

- Joint Appendix 7 - Fee list

The purpose of the amendment is to set out the contract specifications for the new products listed for trading and clearing. The proposed amendments can be found in Joint Appendix 2 Contract Specifications part B, section 1.2, part C, section 1.1, and part D, section 1.18-1.19. The proposed amendments to the fee list are available in section 3.1.2 and section 3.2.2.

The planned amendments are subject to regulatory approval, technical readiness, and, member readiness (for the Irish Power Futures) and will take effect from 21 November 2022. We have attached the documents that show the proposed amendments in track changes.

• Joint Appendix 2 - Contract Specifications (Irish Futures + fallback protocol)
• Joint Appendix 1 Definitions (track changes BMR fallback)
• Joint Appendix 7 - Fee list (joint Clearing and Trading Rules)

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NOVEMBER 7, 2022

Upcoming changes in the Trading Rules

Nasdaq Commodities is planning to make amendments to the following:

- Joint Appendix 1 - Definitions

- Joint Appendix 2 - Contract Specifications

The purpose of the amendments is to introduce a benchmark fallback protocol that describes what measures Nasdaq Oslo ASA (the "Exchange") may take concerning any instrument or product that refers to a benchmark that is or is proposed to be materially changed or cease to be provided. The protocol is added as a new chapter 6 in part A of the Joint Appendix 2 Contract Specifications. In addition, we make a minor amendment to section 4.1.3 in part A for clarification purposes.

Further, Nasdaq Commodities is planning to list Irish Power Futures. Consequently we are planning to make amendments to the following:

- Joint Appendix 2 - Contract Specifications

- Joint Appendix 7 - Fee list

The purpose of the amendment is to set out the contract specifications for the new products listed for trading and clearing. The proposed amendments can be found in Joint Appendix 2 Contract Specifications part B, section 1.2, part C, section 1.1, and part D, section 1.18-1.19. The proposed amendments to the fee list are available in section 3.1.2 and section 3.2.2.

The planned amendments are subject to regulatory approval, technical readiness, and, member readiness (for the Irish Power Futures) and will take effect from 21 November 2022. We have attached the documents that show the proposed amendments in track changes.

• Joint Appendix 2 - Contract Specifications (Irish Futures + fallback protocol)
• Joint Appendix 1 Definitions (track changes BMR fallback)
• Joint Appendix 7 - Fee list (joint Clearing and Trading Rules)

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SEPTEMBER 7, 2022

Upcoming change in Joint Appendix 2 (Contract Specification)

Nasdaq Oslo ASA (the Exchange) plan to list an additional two (2) quarter series in the German Power Monthly Base DS Future contracts – EDEMBQ. The listing of additional quarter series will enable market participants to hedge further out on the curve.  The number of EDEMBQ contracts will be increased from 4 to 6. Subject to regulatory approval, the listing will be activated on September 26, 2022. Attached is a markup version of the Joint Appendix 2 (Contract Specifications) with the planned amendments on page 33. 

• Joint Appendix 2 - Contract specifications (track changes)

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AUGUST 19, 2022

Nasdaq Oslo ASA (the Exchange) and Nasdaq Clearing AB (the Clearinghouse) is planning to make amendments to:

The Exchange

- General Terms – Trading Rules, and

- Appendix 4 – Trading Procedure

The Clearinghouse

- General Terms – Clearing Rules (Commodity Derivatives)

The purpose of the amendments is to:

• Update the relevant chapter in the Trading Rules and the Clearing Rules, respectively, related to US Persons representations and restrictions. The amendments follow amendments that the CFTC has enacted to the definition of a US Person, as part of the updated CFTC Cross Border Rules. The CFTC has recently also withdrawn their advisory policy on swaps that were arranged, negotiated or executed in the US, which is also reflected in the Trading Rules and the Clearing Rules respectively.

• Add wording in Appendix 4 – Trading Procedure and the Clearing Rules, respectively, to clarify the scope of the emergency powers available to the Exchange and the Clearinghouse in case of significant market disturbance, serious communication disturbance or other technical problems that seriously affect the ability of the Exchange or the Clearinghouse to maintain properly functioning operations. The purpose of the new clauses is to clarify the toolbox available to the Exchange and the Clearinghouse, respectively, in such circumstances and to align the commodities Exchange and Clearing Rules with the corresponding rules that Nasdaq has in place with respect to its other derivatives market.

• Clarify the scope of suspending market operations by adding a new clause 18.2 in Appendix 4 – Trading Procedure. The new wording clarifies that the Exchange can suspend market operations upon the occurrence of circumstances or events that i) have a material influence on the Exchange’s ability to maintain well-functioning trading operations, ii) to prevent disorderly trading, or iii) follow regulatory requirements or instructions from relevant regulatory authorities or other third parties, under applicable regulations. To avoid confusion, clause 8.6 in Appendix 4 – Trading Procedure is deleted as this clause contained partially similar wording.

In addition to the above, the Exchange has also, for clarifying purposes, included minor amendments in the General Terms – Trading Rules by adding “Appendix 4a Direct Market Access and Sponsored Access” to “Trading Appendices” and adding “capital” to the term “equity capital” in section 4.1.4 letter e).

Mark-ups of the planned amendments are attached for your information. Subject to regulatory approval, the amendments will take effect on 5 September 2022.

• Exchange Rules General Terms
• Trading Appendix 4
• Clearing General Terms Emergency powers and US persons

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AUGUST 2, 2022

Upcoming changes to Rules effective August 12, 2022

Nasdaq Clearing AB (the “Clearinghouse”) will amend the Clearing Rules of Nasdaq Commodities Markets (the “Clearing Rules”).

The amendments relate to the implementation of the Regulation (EU) 2021/23 of the European Parliament and of the Council of 16 December 2020 on a framework for the recovery and resolution of central counterparties(“Recovery & Resolution Regulation”) and the Clearinghouse´s Recovery Plan that was adopted earlier this year.

The changes include the following:

Appendix 9 – Default fund Rules

The introduction of the following Recovery Tools in accordance with the Recovery Plan.

• Partial Tear-Up – Recovery Tool to establish a matched book, available following two default Auctions. In respect of Exchange Transactions, Default Fund Participants (“DFP”) holding positions in contracts which are subject to a Partial Tear-Up will have their positions increased (same side position) or reduced (opposite side position), in proportion to the number of open positions of such DFP (in the relevant direction) compared to the total number of open positions (in the relevant direction). Non-Exchange Transaction (excluding netted positions) pursuant to which the defaulted member is either a buyer or seller will be terminated against the original trade counterparty. 
• Voluntary Cash Call – Recovery Tool to give DFPs and the Clearinghouse the option to continue the clearing service even in case a Default Loss would consume the entire waterfall (prefunded and unfunded). DFPs representing more than 75 per cent. of the Fund Requirement of the relevant clearing service must support a Voluntary Cash Call for the tool to be used. 
• Service Closure – Recovery Tool where a clearing service is terminated to be able to continue to operate other clearing services. In this case all contracts in the relevant clearing service will be subject to early termination based on market price according to normal methodologies or, if such market price is not available, using either (i) indicative prices based on quotes provided by the DFP in the relevant clearing service having necessary capability to provide quotes in respect of relevant contracts or (ii) as a last resort, a price determined at the absolute discretion of the Clearinghouse. 

Chapter 1 – Default fund Rules

Certain provision implementing the Recovery & Resolution Regulation, including recognition of the Resolution Authority’s powers in accordance with the Recovery & Resolution Regulation. 

Below are amended drafts setting out the changes of Appendix 9, the General Terms, and minor changes to the Joint Appendix 1 - Definitions of the Clearing Rules. 
  
The amendments will come into effect on 12 August 2022.

• Clearing General Terms (mark-up)
• Joint Appendix 1 - Definitions (mark-up)
• Clearing Appendix 9 - Default Fund Rules (mark up)

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JUNE 16, 2022

Nasdaq Clearing AB will amend the Clearing Appendix 10 - Collateral List (Commodity Derivatives) effective from June 22, 2022.

The following changes will be made:

• The concentration limit for Norwegian covered bonds has been raised to 500MNOK.

A mark-up of the Clearing Appendix 10 – Collateral List (Commodity Derivatives) is attached hereto, following our previous practice.

• Clearing Appendix 10 - Collateral List (Commodity Derivatives)

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MARCH 17, 2022

Upcoming changes the Joint Appendix 7 - Fee list.

Nasdaq Commodities is planning to adjust the variable Trading Fees for Nordic and European Electricity and Gas contracts:

• The trading fee for EUR Nordic and European Electricity and Gas Futures, DS Futures and Monthly DS Futures contracts will be increased from 0.0045 to 0.0048 EUR/MWh
  • Option Premium maximum fee will be increased from 0.0045 to 0.0048 EUR/MWh
• The trading fee for GBP UK Electricity Monthly DS Futures contracts will be increased from 0.0030 to 0.0032 GBP/MWh
• The trading fee for GBP UK and Belgian Gas Monthly DS Futures contracts will be increased from 0.0030 GBP pence/therms to 0.0032 GBP pence/therms

Nasdaq will also introduce a new Historical Clearing Reports Service allowing clearing members to request historical clearing reports via Nasdaq Member Portal. The service will allow clearing members to request historical (archived) clearing reports for up to three years back in available file formats (XLS, PDF & CSV).

Lastly, Nasdaq is cleaning up the Fee list inter alia to remove references to products that are delisted in accordance with previous communication.

Subject to testing, the changes will take effect on April 1, 2022.

• Joint Appendix 7 - Fee list (track changes)

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FEBRUARY 14, 2022

Nasdaq Clearing AB will amend the Clearing Appendix 10 - Collateral List (Commodity Derivatives) effective from February 17, 2022.

The following changes will be made:

• Haircuts, eligible equities, and equity concentration limits are removed from Appendix 10 and placed in a separate Excel-document called Collateral Parameter Value List. The document can be found in the Resource Center on this webpage: https://www.nasdaq.com/solutions/nasdaq-clearing-margining-methodology.
• The values in the new document are expressed as "Haircuts" as opposed to "Values after Haircuts".
• The size of Haircuts/Values after Haircuts have not been changed in this revision.

A mark-up of the Clearing Appendix 10 – Collateral List (Commodity Derivatives) is attached hereto, following our previous practice.

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JANUARY 24, 2022

Upcoming changes to Commodities Clearing Rules.

As previously has been communicated and presented to Account Holders at risk councils, Nasdaq will as part of its program to strengthen the financial crime framework, introduce a minimum FC Risk Score for applicants and Account Holders. The FC Risk Score has also been incorporated into the monitoring and sanctions provisions in the Rules. Additionally, certain minor changes are proposed to the monitoring and sanctions provisions. 

The proposed amendments will enter into force on 1 February 2022.

• Clearing General Terms (mark-up)
• Joint Appendix 1 - Definitions (mark-up)
• Joint Appendix 8 - Membership Requirements (mark-up)

DECEMBER 16, 2021

Upcoming changes to the Joint Appendix 2 (Contract Specifications).

Nasdaq Commodities is cleaning up Joint Appendix 2 (Contract Specifications) and removing references to products that are or will be delisted by 1 January 2022. The amendments are found in track changes in part B, chapter 2.1, part C, chapters 1.2 and 2.1, and part D, chapters 1.28-130 and 2.4-2.5. The amendments take effect on 1 January 2022.  

• Joint Appendix 2 - Contract Specifications (track changes)

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DECEMBER 3, 2021

Upcoming changes to Commodities Clearing Rules.

In preparation for the transition away from the London Interbank Offered Rate (LIBOR) to the Sterling Overnight Index Average (SONIA), Nasdaq Clearing proposes the following updates to the Commodities Clearing Rules:

1. Change from GBP LIBOR to SONIA as the rate to determine interest on outstanding payments in Section 6.7 of the General Terms,
2. Removal of the definition of LIBOR in the Appendix 1 Definitions list, and
3. Addition of the definition of SONIA in the Appendix 1 Definitions list.

The proposed amendments will enter into force on 3 January 2022. Consultation in relation to the proposed changes can be requested in accordance with the Clearing Rules.

• Clearing General Terms (mark-up)
• Joint Appendix 1 - Definitions (mark-up)

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NOVEMBER 24, 2021

Upcoming changes to the Default Fund Rules. 

As previously notified, Nasdaq Clearing AB (“Nasdaq Clearing”) is implementing automatic calls and releases of Default Fund contributions from 1 December 2021. Please refer to the market notice as of 21 September 2021 for more information and required actions. In order to facilitate this, Nasdaq Clearing is proposing updates to the Default Fund Rules (Appendix 9 to the Clearing Rules for the Commodity Derivatives market) in order to enable Nasdaq Clearing to effect such automatic calls and releases in relation to the relevant accounts. The proposed changes are attached in mark-up against the current version of the Default Fund Rules.

The amendments will come into force on 1 December 2021. Consultation in relation to the proposed changes can be requested in accordance with the Clearing Rules.

• Clearing Appendix 9 - Default Fund Ruless (mark up)

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NOVEMBER 8, 2021

Upcoming changes to the Joint Appendix 2 (Contract Specifications).

Nasdaq Commodities is planning to introduce Nordic EPAD Electricity Future contracts for the Norwegian price area NO5 (Bergen). Amendments can be found in Part D, 1.31-1.33 of the attached document. Subject to testing and regulatory approval, the new products will be available from November 22, 2021. 

• Joint Appendix 2 - Contract Specifications (track changes)

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OCTOBER 6, 2021

Nasdaq Clearing AB will amend its Commodity Derivatives Clearing Rules (the "Rules"). The amendments seek to further clarify the rules in respect of the sanctions Nasdaq Clearing AB can employ to address breaches of the Rules. The amendments is shown in track changes in attached document. The amendments will come into effect on 25 October 2021.

• Clearing General Terms (mark-up)

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SEPTEMBER 27, 2021

Clearing Appendix 10 - Collateral List (Commodity Derivatives) is amended effective from October 1, 2021.
We refer to the market notice on September 24, 2021, with details on planned amendments to haircuts for fixed income collateral and new equity concentration limits.

A mark-up of the Clearing Appendix 10 – Collateral List (Commodity Derivatives) is attached hereto, following our previous practice.

For additional information, see the market notice on the same.

• Clearing Appendix 10 - Collateral List (track changes)

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AUGUST 25, 2021

Upcoming changes to the Joint Appendix 2 (Contract Specifications).

Nasdaq Commodities is planning to list Nordic EPAD Electricity Base Yearly, Quarterly and Monthly Future contracts for the Norwegian price area Kristiansand (NO2). Subject to testing and regulatory approval, the new products will be available from October 4, 2021. A mark-up of the Joint Appendix 2 (Contract Specifications) is attached hereto. 

For additional information please also see the market notice on the same, dated August 24, 2021.

• Joint Appendix 2 - Contract Specifications (mark up)

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JULY 16, 2021

As part of its Risk Management Enhancement Programme, Nasdaq Clearing AB (“Nasdaq”) will amend its Default Fund Rules, Appendix 9 to the Commodity Derivatives Clearing Rules (the “Rules”), as previously having been presented and consulted with members at Risk Councils. The amendments, which will come into effect on September 1, 2021.

• Clearing Appendix 9 - Default Fund Ruless (mark up)

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JULY 7, 2021

Clearing Appendix 10 - Collateral List Commodity Derivatives is amended effective from July 14, 2021.

We refer to the market notice on July 7, 2021, with details on planned amendments to haircuts on certain collaterals. A mark-up of the Clearing Appendix 10 – Collateral List Commodity Derivatives is attached hereto, following our previous practice.

For additional information, see the market notice on the same.

• Clearing Appendix 10 - Collateral List of Commodity Derivatives (track changes)

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JUNE 14, 2021

Upcoming changes to the Joint Appendix 2 - Contract Specifications.

The NCG and the Gaspool, two natural gas market hubs in Germany, will merge into the new Trading Hub Europe (THE) on October 1, 2021. As a consequence of this, Nasdaq Commodities propose that NCG Natural Gas Monthly DS Futures and Gaspool Natural Gas Monthly DS Futures, with Delivery Period after September 30, 2021, are suspended for trading and clearing from June 28, 2021, and de-listed from October 1, 2021. Furthermore, Nasdaq Commodities propose to introduce THE Natural Gas Monthly DS Futures from June 28, 2021. The first THE Natural Gas Monthly DS Futures contract available for trading and clearing will be with Delivery Period from October 1, 2021.

The changes are subject to testing and regulatory approval.

For additional information, see the market notice on the same.

• Joint Appendix 2 - Contract specifications (track changes)

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MAY 27, 2021

Upcoming changes to the Joint Appendix 2 - effective from June 7, 2021.

Upon request from Members, Nasdaq Commodities and Nasdaq Clearing is planning to change the current Clearing Lot to 0.001 = 1 EUA from Clearing Lot 1 = 1000 EUAs. The new Clearing Lot will increase the flexibility for market participants to clear smaller volumes of EUAs than 1.000. Subject to successful testing, the new Clearing Lot will be effective from June 7, 2021.

For additional information on the amendments, see market notice dated May 27,2021

• Joint Appendix 2 - Contract specifications (track changes)

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APRIL 29, 2021

Upcoming changes to the Joint Appendix 6 (Market Conduct Rules). The Market Conduct Rules are updated following entering into force of the Market Abuse Regulation in Norway on March 1, 2021. We have also taken this opportunity to make certain other minor amendments for overall understanding purposes. The amendments will be effective from May 14, 2021.

Joint Appendix 6 - Market Conduct Rules (track changes)

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APRIL 16, 2021

Upcoming changes to the Joint Appendix 7 (Fee list) - effective from April 20, 2021.

For additional information on the amendments, see market notice dated April 7, 2021

• Joint Appendix 7 - Fee List (mark-up)

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APRIL 8, 2021

Clearing Appendix 10 - Collateral List Commodity Derivatives is amended effective from April 7, 2021.

We refer to the market notice on March 30, 2021. Following the changes certain VPS registered Norwegian securities are eligible collateral from April 7, 2021. More details on the changes is available in the market notice. A mark-up of the Clearing Appendix 10 – Collateral List Commodity Derivatives is attached hereto in accordance with our previous practice.

• Clearing Appendix 10 – Collateral List Commodity Derivatives (mark-up)

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MARCH 23, 2021

Upcoming changes to Rules effective April 20, 2021.

• Clearing General Terms (mark-up)
• Joint Appendix 1, Definitions (mark-up)

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MARCH 17, 2021

Upcoming changes to Rules effective April 6, 2021.

• Trading Appendix 4a, on direct market access, sponsored access and automated order routing (mark-up)
• Trading Appendix 5, on ETS user terms (mark-up)

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MARCH 17, 2021

Upcoming changes to the Joint Appendix 7 (Fee List) – effective April 1, 2021. Changes published on February 25 included for practicality.

• Joint Appendix 7 - Fee List (mark-up)

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MARCH 1, 2021

Upcoming changes to the Joint Appendix 2 (Contract specifications), effective March 15, 2021.

• Joint Appendix 2 - Contract specifications (mark-up)

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FEBRUARY 25, 2021

Upcoming changes to the Joint Appendix 7 (Fee list), effective April 1, 2021.

• Joint Trading and Clearing Appendix 7 - Fee list (effective 1 April 2021)

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JANUARY 18, 2021

Upcoming Changes to the Joint Appendix 7 (Fee list), effective February 1, 2021.

• Joint Trading and Clearing Appendix 7 - Fee list (mark-up)

OCTOBER 26, 2020

Upcoming changes to Rules effective November 23, 2020.

• Joint Appendix 2 - Contract Specifications (mark-up)
• Joint Appendix 7 - Fee List (mark-up)

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AUGUST 18, 2020

Upcoming rulebook changes for August 31, 2020.

• Joint Appendix 2 - Contract Specifications - mark up
• Exchange and Clearing Information 12/20

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AUGUST 7, 2020

As part of the Risk Management Enhancement Program, Nasdaq Clearing will amend the Commodities Derivatives Clearing Default Fund Rules. 

The amended rules will come into effect on September 18, 2020.

• Notice Default Fund Rule updates
• Clearing Appendix 9 - Default Fund Rules - Mark-up

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JULY 15, 2020

Proposed amendments to the General Terms for Custody Accounts: Norwegian custody arrangement added for Norwegian Account Holders – September 3, 2020

In order for Nasdaq Clearing to enable Norwegian Account Holders to post Norwegian securities collateral in VPS Norway, by adding a custodian for the Norwegian market, amendments have been made to the:

1. General Terms For Collateral Custody Accounts;
2. General Terms For Default Fund Custody Accounts; and  
3. General Terms For Loss Sharing Custody Accounts 

together, the “General Terms for Custody Accounts”.

Please find attached an explanatory notice which provides more information about the custody arrangement and a summary of the changes made to the General Terms for Custody Accounts, together with mark-up of the agreements.

The proposed amendments will enter into force on September 3, 2020.

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JUNE 23, 2020

Proposed amendments to the General Terms for Custody Accounts - September 3, 2020

In preparation for the implementation in Swedish law of the Shareholder Rights Directive II (“SRD II”) on 3 September 2020, Nasdaq Clearing AB (“Nasdaq Clearing”) will implement new operational and technical procedures to ensure compliance with the new requirements placed on ‘intermediaries’ under SRD II. To make sure that the agreements governing securities that Nasdaq Clearing holds (in the form of margin collateral, default fund contributions and, where applicable, loss sharing pool contributions) are aligned with the new legal requirements, updates and additions have been made in the following agreements:

1. General Terms For Collateral Custody Accounts 
2. General Terms For Default Fund Custody Accounts
3. General Terms For Loss Sharing Custody Accounts 

In addition, Nasdaq Clearing has taken this opportunity to make a few general updates and clarifications in the agreements.  
 
Notice regarding proposed amendments to the General Terms for Custody Accounts

The proposed amendments will enter into force on September 3, 2020.

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APRIL 24, 2020

Upcoming changes to rules effective May 22, 2020.

• Clearing Appendix 9 - Default Fund Rules
• Auction Incentive Examples
• Notice regarding amendments

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APRIL 8, 2020

Upcoming changes to rules effective April 27, 2020.

• Joint Trading and Clearing Appendix 2 - Contract Specifications (mark-up)

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MARCH 12, 2020

Upcoming changes to Rules effective March 26, 2020.

• Clearing Rules General Terms (track changes)
• Joint Appendix 2 - Definitions (track changes)
• Agreement C. Direct Clearing Client Agreement (track changes)
• Clearing Appendix 13 - Supplemental default rules for Clearing Transactions recorded on Direct Clearing Accounts (track changes)

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DECEMBER 19, 2019

Upcoming changes to Rules effective January 2, 2020.

• Joint Appendix 1 - Definitions re cross request (track changes)
• Joint Appendix 7 - Fee List (track changes)
• Trading Appendix 4 - Trading Procedures (mark up incl. cr)
• Trading Appendix 9 - Request for Quote Trading Procedures - NEW

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NOVEMBER 25, 2019

Upcoming changes to Rules effective December 9, 2019.

• Joint Appendix 2 - Contract specifications (mark-up)

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OCTOBER 20, 2019

Upcoming changes to Rules effective October 20, 2019.

• Trading Rules General Terms (mark-up) 
• Joint Appendix 1, Definitions (mark-up)
• Joint Appendix 2, Contract Specifications (mark-up)
• Joint Appendix 3, Trading Schedule (mark-up)
• Joint Appendix 6, Market Conduct Rules (mark-up)

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SEPTEMBER 30, 2019

Upcoming changes to Rules effective September 30, 2019

• Clearing Rules General Terms (mark-up)
• Clearing Rules Appendix 8, Membership Requirements (mark-up)
• Joint Trading and Clearing Appendix 1, Definitions (mark-up)

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SEPTEMBER 1, 2019

Upcoming changes to Rules effective September 1, 2019

• Joint Trading and Clearing Appendix 7 - Fee list (mark-up)