Effective on trade date August 19, 2022, and pending all relevant CFTC regulatory review periods, Chicago Mercantile Exchange Inc. (CME) will eliminate CME Rule 552. (“Dual Trading Restrictions”) and CME Rule 555. (“Top Step Trading Restrictions”).

The restrictions outlined in CME Rule 552. and Rule 555. were applicable to open outcry trading of certain contract months of the Options on Eurodollar Futures contract.

Such restrictions were suspended when the trading floor was temporarily closed due to the Covid-19 pandemic. Certain trading pits were subsequently reopened in August 2020 without these restrictions and trading floor activity continues without them.

Given the Exchange’s Market Regulation Department’s ability to detect and deter regulatory issues associated with dual trading, and the absence of any dual trading violations in the Contract for many years, there is minimal risk to allowing dual trading in mature and liquid contract months of the Contract.

Therefore, the CME is eliminating Rule 552. and Rule 555. entirely.