---
kind: "section"
citation: "17 C.F.R. § 41.14"
title: "17"
number: "41.14"
heading: "Transition period for indexes that cease being narrow-based security indexes."
url: "https://uscodex.org/cfr/17/41.14"
---

# §41.14. Transition period for indexes that cease being narrow-based security indexes.

- (a) **Forty-five day tolerance provision.** An index that is a narrow-based security index that becomes a broad-based security index for no more than 45 business days over 3 consecutive calendar months shall be a narrow-based security index.
- (b) Transition period for indexes that cease being narrow-based security indexes for more than forty-five days. An index that is a narrow-based security index that becomes a broad-based security index for more than 45 business days over 3 consecutive calendar months shall continue to be a narrow-based security index for the following 3 calendar months.
- (c) **Trading in months with open interest following transition period.** After the transition period provided for in [paragraph (b)](#b) of this section ends, a national securities exchange may continue to trade only in those months in the security futures product that had open interest on the date the transition period ended.
- (d) **Definition of calendar month.** Calendar month means, with respect to a particular day, the period of time beginning on a calendar date and ending during another month on a day prior to such date.

## Notes

### Authority

Authority: Sections 206, 251 and 252, Pub. L. 106-554, 114 Stat. 2763, 7 U.S.C. 1a, 2, 6f, 6j, 7a-2, 12a; 15 U.S.C. 78g(c)(2).

### Source

Source: 66 FR 44511, Aug. 23, 2001, unless otherwise noted.