Effective May 1, 2017, all EFP transactions must be submitted solely through CME ClearPort or CME Direct for purposes of submission to CME Clearing.
Submitting EFPs electronically reduces operational risk through a more streamlined and efficient process.
If you currently submit EFPs to your Clearing Member Firm, who in turn submits the EFP to the Exchange, the process does not need to change for you. Your Clearing Member can continue to submit the EFP to the Exchange on your behalf. The primary difference in this submission process is that your Clearing Member Firm will need to set up your account in CME ClearPort for submission.
CME Group has been working with brokers, Clearing Member Firms and other market participants to ensure a seamless transition by May 1. If you currently use EFPs as part of your grain marketing or hedging strategies, please be sure to contact your Clearing Member Firm or broker to ensure you have adequate coverage by the May 1, 2017 migration deadline.