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Clearing Systems and Operations - CME Group

 
 

CME Clearing is a fast, highly complex and high volume business that uses sophisticated systems and operations.

Front End Clearing Systems

The Front-End Clearing System (FEC) is a web-based application that provides clearing member firm back office staff with an integrated method for entering and processing a variety of trade types.

Broker Payment Systems

BPS facilitates brokerage payments to filling brokers by member firms via automatic debits to member firms' bank accounts. All members and member firms are required to use BPS for broker billing and payment.

Give-up Payment Systems

The Give-Up Payment System (GPS) offers real-time fee calculation, automatic payment processing for member firm give-up execution business and online viewing of transactions.

Clearing System User Guides Directory

Find systems manuals, technical standards and guidelines, training, forms and other resources in this directory.

Average Pricing Calculations

The Average-Pricing feature of Front-End Clearing allows a group of transactions at various prices, to be replaced by a smaller set of transactions at an average price. The system supports both a true average price, and a rounded average price. Here are the exact calculation details, expressed both in English and algebraically, and here are some examples.

 

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