Will the HuRLO™ market stay open until a storm makes landfall?
Just about. The CME Rulebook and WRS Trading Platform Trading Rules give WRS discretion to suspend trading when, for example, a hurricane is nearing landfall. In practice, WRS will suspend trading after the NHC issues a Hurricane Watch, about 36 hours before a storm is expected to make landfall. (The NHC may issue a Hurricane Watch for a tropical storm if the forecast includes a possibility that such storm may become a hurricane and affect the coast with hurricane-force winds.) If, however, a storm moves out to sea without making landfall on the U.S. Coast as a hurricane (or weakens and makes landfall at non-hurricane strength) and the imminent danger of hurricane landfall abates, under the CME Rules and WRS Trading Platform Trading Rules, trading may resume in the relevant HuRLO™ series. Under the CME Rules, trading in the No Landfall HuRLOs™ ends at the latest October 15th (for series 1) and October 1st (for series 2) but, market participants will only receive a settlement amount if
