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Product LoginFriday, September 21, 2018
Futures Trader Alert #2018 - 23
NFX Supramax 6TC to 10TC Open Interest Migration Trades
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Markets Impacted:Contact Information:
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Starting from trade date October 1, 2018 thru December 31, 2018 Nasdaq Futures, Inc. (NFX) will reimburse exchange fees and OCC clearing fees for trades executed for the purpose of migrating a customer's open interest from the SM6Q to the S10Q futures and S6Q to the S0Q options contract following the Baltic Exchange's adjustment to calculating the Baltic Supramax Time Charter Index earlier this year. NFX considers migration trades as the simultaneous closing of a position in SM6Q/S6Q and opening of a position in S10Q/S0Q of equal quantity. Brokers are required to confirm the individual Trade IDs for each of the legs of all migration spread transactions for customers to be eligible for the NFX and OCC fee rebates. Upon execution, brokers must forward the associated Trade IDs to TradeReports@nasdaq.com. NFX will rebate exchange and OCC fees to the NFX Member on a monthly basis. The NFA fee will continue to be assessed for migration spread transactions. For additional information, please contact NFX Market Operations or call 215.496.5409. |
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