Chicago Board of Trade: Proposed Amendments to the Speculative Position Limit Provisions of the Municipal Bond Index Futures Contract

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The Chicago Board of Trade (CBOT or Exchange) has submitted a proposed amendment to the speculative position limit provision of its Municipal Bond Index futures and futures option contracts. Under the proposal, the subject futures and option contracts would be subject to a joint 4,000-contract spot month position limit, with no exemptions allowed, that would be in effect during the last three trading days prior to expiration.