Transaction Timelines

CME Clearing uses multiple daily timelines for our different processes and products. On this page we have compiled those timelines for your benefit. For a broader view of our hours of operation:

View trading hours.

Banking Timeline

CME Clearing adheres to a designated timeline for daily performance bond collateral transaction and settlement cycle processing. The time frames apply to all specialized programs supported by CME Group, unless noted otherwise.

Time Event
8:30 a.m. CT

Clearing firm deadline to notify the collateral bank of treasury security delivery for same day performance bond credit. This applies to CME & CME/OCC cross margining program.

Clearing firm deadline to enter withdrawal request to C21 Banking and Asset Management to release foreign currency performance bond cash (MXN, CAD, EUR, & GBP) for same day value.

Foreign debt deposit or withdrawal requests to C21 Banking and Asset Management for same day settlement.

9:30 a.m. CT Clearing firm deadline to input security transactions to C21 Banking and Asset Management for CME & CME/OCC cross margining program.  
10:30 a.m. CT

Clearing firm deadline to input withdrawal request to C21 Banking and Asset Management to withdraw excess securities for CME & CME/OCC cross-margining program.

Clearing firm deadline to enter withdrawal request to C21 Banking and Asset Management to release foreign currency performance bond cash for next day value.

Clearing firm deadline to enter requests for deposit and withdrawal of stock through DTC system.

Deadline for CME to access DTC system for pledges and withdrawals of stock for pb. credit for ITD cycle.

11:00 a.m. CT

Clearing firm deadline to input IEF2, IEF3, IEF4 and IEF5 purchase/withdrawal instructions to C21 Banking and Asset Management.

Clearing firm deadline for phone notification to the Clearing House of intention to either invest dollars in IEF2 & IEF5 or liquidate IEF2 & IEF5.

Original letters of credit or amendments to previously issued letters of credit to CME for ITD cycle performance bond credit must be received by 11:00 AM.

1:30 p.m. CT

Clearing firm deadline to notify bank of intention to deliver securities for afternoon performance bond credit for CME & CME/OCC cross-margining program.

Clearing firm deadline for deposits of stock into DTC system to receive performance bond credit.

2:00 p.m. CT

Clearing firm deadline to enter Treasury security withdrawal and deposit transactions to C21 Banking and Asset Management for excess Treasury collateral allocated to CME or for CME & CME/OCC cross-margining program.

Settlement bank confirmation; payment obligations due and owed to the Clearing House from the ITD settlement cycle will be paid.

P.M. IEF2 deposit and withdrawal deadlines vary by fund, but are not later than 2:00 p.m.

Please call the Clearing House Financial Unit at 312 207 2594 for specific deadlines.

*Note: Deadline for Chase, N.Y. treasuries is 1:30 p.m.

OTC Clearing Timeline

New York Local Event
6:00 p.m.   Sunday evening market open
  4:00 p.m. Tokyo Capture quotes for JPY (LIBOR & OIS)
  4:30 p.m. Sydney Capture quotes for AUD (BBR-BBSW & OIS)
  4:30 p.m. Wellington Capture quotes for the NZD (BBR)
8:30 a.m.   Settlement banks confirm USD VM and Initial Margin call (portfolio) from previous day’s clearing cycle – USD, EUR, GBP and CAD cash moves at the settlement bank shortly thereafter (JPY, CHF and AUD are confirmed at this time, but cash moves on T+2).
3:00 p.m.   Capture quotes for USD (LIBOR & OIS) and CAD (CDOR & OIS).
  4:30 p.m.
Hong Kong & Singapore

Capture quotes for the following currencies:

  • HKD (HIBOR)
  • SGD (SOR)
  4:00 p.m. SAST

Capture quotes for the following currencies:

  • ZAR (JIBAR)
  4:00 p.m. CET

Capture quotes for the following currencies:

  • SEK (STIBOR), DKK (CIBOR/CIBOR2), NOK (NIBOR)
  • CZK (PRIBOR), PLN (WIBOR), HUF (BUBOR)
  4:00p.m. London

Capture quotes for the following currencies:

  • EUR (EURIBOR & OIS)
  • GBP (LIBOR & OIS)
  • CHF (LIBOR)
7:00 p.m.   Same day trade submission/acceptance deadline for all currencies.  Generate combined end-of-day Clearing reports for all currencies including Trade Register.
8:00 p.m.   Calculate Initial Margin for entire portfolio.
10:00 p.m.   Settlement instructions for all currencies are sent to settlement banks.
7:00 p.m.   Friday night Clearing closed until the following Sunday

Futures and Options Clearing Timeline

Event Eastern Time Central Time
NYMEX Coal (API 2 and API 4) contracts 1.00 p.m. 12.00 p.m.
NYMEX Brent Crude Oil Futures-Style Margin Option (BZO) contracts 3.30 p.m. 2.30 p.m.
NYMEX/COMEX Cut off Exercise/Abandon Entry 4:30 p.m. 3:30 p.m.
Announce NYMEX/COMEX Contrary Instructions ~4:30 p.m. ~3:30 p.m.
CBT FLEX Cut off Exercise/Abandon Entry  6:00 p.m. 5:00 p.m.
Announce CBT FLEX Contrary Instructions ~6:00 p.m. ~5:00 p.m.
Run CBT FLEX E/A Process (Produce reports)  ~6:00 p.m. ~5:00 p.m.
NYMEX/COMEX Metal Delivery Intentions  6:00 p.m. 5:00 p.m.
NYMEX/COMEX/DME FEC cutoff (ALL)  6:45 p.m. 5:45 p.m.
NYMEX/COMEX/DME PCS Deadline 7:00 p.m. 6:00 p.m.
CME/CBT FEC cutoff (Electronic)  7:00 p.m. 6:00 p.m.
CBT Cut off Exercise/Abandon Entry  7:00 p.m. 6:00 p.m.
Announce CBT Contrary Instructions  ~7:00 p.m. ~6:00 p.m.
Run NYMEX/COMEX E/A Process (Produce reports)  ~8:30 p.m. ~7:30 p.m.
CME Cut off Exercise/Abandon Entry  8:00 p.m. 7:00 p.m.
Announce CME Contrary Instructions  ~8:00 p.m. ~7:00 p.m.
CME/CBT FEC cutoff (Non-Electronic and Give-ups)  8:00 p.m. 7:00 p.m.
CME/CBT PCS Deadline  8:30 p.m. 7:30 p.m.
Run CME, CBT E/A Process (Produce reports)  9:30 p.m. 8:30 p.m.