Chicago Mercantile Exchange: Proposed Amendments to the Cash Settlement Provisions of the CME Three-Month Eurodollar and One-Month LIBOR Futures Contracts

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The Chicago Mercantile Exchange (CME or Exchange) has submitted proposed amendments to the cash settlement provisions of its three-month Eurodollar and one-month LIBOR futures contracts. Under the proposal, cash settlement of the contracts would be based upon an interest rate survey conducted by the British Bankers' Association (BBA), rather than by the CME. The Acting Director of the Division of Economic Analysis (Division) of the Commission, acting pursuant to the authority delegated by Commission Regulation 140.96, has determined that publication of the proposal for comment is in the public interest, will assist the Commission in considering the views of interested persons, and is consistent with the purposes of the Commodity Exchange Act.