Effective on trade date Monday, December 5th, ICE Futures US will change the contract size in the following Russell products (listed below):
Please be aware….ALL GTC orders for ICE mini Russell’s that remain active at the close of trading today Friday, December 2, 2016 will be CANCELLED by the ICE Exchange. Market participants who expect to be affected by this should take appropriate steps to Re-Enter new orders during the pre-open period for trade date Dec 5th.
Notice to ADMIS customers:
As a result of this change, all accounts with open positions close of business Dec 2nd will have entries entered into the accounts to keep the customer economically whole. These entries will be done at original trade price and date.
Notice to Wedbush customers:
Please note, the daily statement you receive at the close of business on December 5, 2016 will replace your one (1) Russell Index contract with two (2) Russell Index contracts for position(s) you have on Friday, December 2, 2016 at the current multiplier of $100. Furthermore, that same statement will reflect those same Russell Index position(s) you may have had on Friday, December 2, 2016 at the new multiplier of $50, as separate line items.
Notice to Gain Capital Customers
On the effective date all open futures and options positions will be doubled to compensate for the smaller multiplier. This change in positions will be made to the GAIN trading platform after the close of markets Friday, December 2nd and will reflect on the statement for trade date Monday, December 5th. In addition, all open working GTC orders in the Russell futures will be canceled after their 5:00 PM CT close on Friday, December 2nd. Orders may be reentered during an extended Pre-Open period starting at 4:30 PM CT on Sunday, December 4th.