Initial Price Limits Clause Samples

Initial Price Limits. In any trading session, there shall be no trading in any Contract Month at any price above its Initial Upper Limit or below its Initial Lower Limit, except as provided in Clause 2.5.3 and Clause 2.5.4. If the price for any such Contract Month reaches either its Initial Upper Limit or Initial Lower Limit, a Cooling Off Period of fifteen (15) minutes shall be implemented during which trading shall only take place at or between the Initial Upper Limit and Initial Lower Limit. For the avoidance of doubt, the Cooling Off Period shall apply to trading in all Contract Months.