Technology Enhancements

To serve you better and ensure that  CME Group provides the best-in-class technology, we are working constantly to introduce enhanced functionality and improved performance.

Includes the following services:

  • CME ClearPort
  • CME Direct
  • CME Globex
This Enhancements Service Production New Release
Globex Risk Management Enhancements: Inline Credit Controls CME Globex
July 23 Available
Request for Cross for Volatility-Quoted Options  CME Globex  August 6 Available
Market By Order (MBO) Market Recovery Implied Dissemination Modification CME Globex August 6 Available
CME Globex Execution Information Enhancements CME Globex September 10 Available
Spread Statistics Change CME Globex
September 10
August 14
Self-Match Prevention Enhancements  CME Globex
September 24 Available 
New - Implied Functionality for CME FX Futures and SD Calendar Spreads CME Globex
September 24 August 7
CME Globex
CME Globex

Globex Risk Management Enhancements: Inline Credit Controls

Starting this Sunday, July 23, in addition to existing risk management controls, CME Group will offer optional, more granular pre-trade risk management capability through the In-Line Credit Control (ICC) tool.

The ICC tool allows Clearing Member Firms and Executing Firms to set daily position limits for CME Globex, per product, at the account level through Account Manager.

Risk Administrators are encouraged to register and set limits in all products starting this Sunday, July 23. Please review the complete ICC enforcement schedule.

The new functionality will feature:

  • Daily quantity position limits applied per product at the account level.
  • Positions reset to flat at the end of the day. Good 'Til Cancel (GTC) and Good 'Til Date (GTD) orders will roll-over to be calculated in the next day’s working orders.
  • No latency differential; all orders are subject to the same ICC processing.
  • Both Clearing Member Firm and Executing Firm Risk Admins can register accounts and set limits.
    • The most restrictive limit applies.
    • Clearing Member Firm and Executing Firm Risk Admins can view each other's account limits.
    • Clearing Member Firms and Executing Firms cannot change the other's limit.
  • Email alerts can be set up when pre-set threshold level breaches occur (for example, at 80%).

Please note: With the introduction of ICC, clients may see minor changes in order entry round trip times (RTT) during large market events.

Initially, ICC processing for accounts approaching their pre-set threshold level, In-Flight Mitigation(IFM) enabled orders may temporarily violate account limits resulting in a reject. See scenario here. Future phases of ICC will accommodate In-Flight Mitigation and eliminate the temporary account limit violation scenario.

See more on Viewing and Managing Inline Credit Control Limits and Configuring Alerts and Policies for Inline Credit Controls.

For registered client systems, a new or cancel/replace order that violates specified position limits will be rejected. CME Globex will send a Session Level Reject (tag 35-MsgType=3) message including tag 58=<Reject Reason>.

Reject Reason Tag 58-Text
Position Limit Violation Position Limit Violation for Account: <Account>, Position Increase: <position> makes position above the BUY Position Limit: <Limit> by amount: <Amount>. Limit set by CMF for Product Code: <Product Code>
Position Limit Violation for Account: <Account>, Position Increase: <position> makes position above the BUY Position Limit: <Limit> by amount: <Amount>. Limit set by EF for Product Code: <Product Code>
Account Policy Violation Pre-Trade Registration Violation: Account: <Account> is not Registered for this Executing Firm
Product Policy Violation Pre-Trade Registration Violation: Account: <Account> is not Registered to Trade Product Code: <Product Code>
UDS Covereds Policy Violation Pre-Trade Registration Violation: Account: <Account> is not Registered to Trade UDS Covereds
Account Deactivation Violation Pre-Trade Registration Violation: Account: <Account> has been Suspended from Trading by the CMF for this Executing Firm

This new functionality is currently available for customer testing in New Release.

Please contact your Global Account Manager with any questions on onboarding and testing In-line Credit Controls functionality in New Release in the U.S. at +1 312 634 8700, in Europe at +44 203 379 3754 or in Asia at +65 6593 5505 for additional information.

Please contact Certification Support for Electronic Trading (CSET) in the U.S. at +1 312 930 2322, in Europe at +44 20 3379 3803 or in Asia at +65 6593 5593 with questions while testing in New Release.

Request for Cross for Volatility-Quoted Options

Effective Sunday, August 6 (trade date Monday, August 7), pending all relevant regulatory review periods, CME Globex will allow the Request for Cross (RFC) for the following CME FX Volatility-Quoted Options(VQO) products:

Request for Cross for Volatility-Quoted Options
Product Maturity Tag 1151-SecurityGroup Tag 6937-Asset
Australian Dollar Monthly 3A VXA
Weekly VAA-VAE
Japanese Yen Monthly 3Y VXJ
Weekly VJA-VJE
British Pound Monthly B3 VXB
Weekly VBA-VBE
Swiss Franc Monthly 3S VXS
Weekly VSA-VSE
Canadian Dollar Monthly 3C VXC
Weekly VCA-VCE
Euro FX Monthly 3E VXT
Weekly VTA-VTE

With this change, Globex Cross will no longer be allowed on VQO products. VQO products will be eligible for Committed Cross with 50 % BPM.

Please note that the BPM percentage to the CME FX Premium-Quoted Options (PQO) products will remain the same at 20%.

This change is currently available for customer testing in New Release.

Detailed information including functionality and messaging for Cross is available in the Client Systems Wiki.

Market By Order (MBO) Market Recovery Implied Dissemination Modification

Starting on Sunday, August 6 (trade date Monday, August 7), to allow customer systems to efficiently recover market data books, the Market by Order Recovery feed will now include 2nd level (1023-MDPriceLevel) Market by Price implied book depth (tag 269-MDEntryType=E, F).

Market By Order (MBO) Market Recovery Implied Dissemination Modification
Group Channel Number Channel Name Production Launch Date
1 312 CME Globex Interest Rate Futures Sunday, August 6
382 NYMEX Globex Crude & Crude Refined Futures
2 360 COMEX Globex Futures Sunday, August 13
384 NYMEX Globex Metals, Softs, & Alternative Market Futures
380 NYMEX Globex Emissions Futures
386 NYMEX Globex Nat Gas & other Non-Crude Energy Futures
382 NYMEX Globex Crude & Crude Refined Futures
440 DME Globex Futures
340 CBOT Globex Commodity Futures
346 CBOT Globex Commodity Futures II
460 MGEX Globex Futures
344 CBOT Globex Interest Rate Futures
316 CME Globex Commodity Futures
430 BMD Globex Futures

The Market By Order (MBO) Market Recovery Implied Dissemination Update is currently available for customer testing in New Release.

Update - CME Globex Execution Information Enhancements

† Denotes update to the article

Starting Sunday, September 10 (trade date Monday, September 11), CME Group will offer customers the following CME Globex execution information enhancements:

  • Updated STP function - new Common Trade ID automatically traces each individual execution across CME Globex and through clearing
    • iLink tag 37711-MDTradeEntryID
    • MDP 3.0 tag 37711-MDTradeEntryID
    • CME STP and CME STP FIX MDTrdEntrID
  • Real-time trade price adjustments reporting to participating traders and market as a whole via iLink and MDP 3.0 messages
    • Currently, trade price adjustments are only available via Clearing systems
CME Globex Execution Information Enhancements
Tag1300-MarketSegmentID Market Segment Launch Schedule
68 CME Equity futures excluding E-mini S&P Sunday, September 10
50 CME Eurodollar options Sunday, September 24
76 NYMEX and COMEX Metals and Alternative Market futures Sunday, September 24
78 NYMEX Non-Crude Energy futures Sunday, September 24
54 CME Equity options Sunday, October 22
56 NYMEX and COMEX options Sunday, October 22
58 CBOT Treasury options Sunday, October 22
64 CME E-mini S&P 500 futures Sunday, October 22
80 NYMEX Crude Energy futures  Sunday, October 22
84 CBOT Treasury futures Sunday, October 22
88 CME Globex FX Futures and Options Sunday, October 22
52 CME FX options Sunday, October 29
60 CBOT Commodity and Equity options Sunday, October 29
70 CME Commodity futures Sunday, October 29
72 CBOT Commodity futures Sunday, October 29
74 Hosted Partner Exchange markets and NYMEX Emissions futures Sunday, October 29
82 CME Eurodollar futures Sunday, October 29

Please review the client impact assessment for information on functionality and messaging impacts and complete rollout schedule.

These enhancements are now available in New Release for customer testing.

Please contact your Global Account Manager with any questions or concerns in the U.S. at +1 312 634 8700, in Europe at +44 203 379 3754 or in Asia at +65 6593 5505 for additional information.

Spread Statistics Change

To better align traded volume information across platforms, effective Sunday, September 10 (trade date Monday, September 11), when a spread-of-spreads trades MDP 3.0 will only publish traded volume updates for the top-level spread and the outright legs.

Today, MDP 3.0 publishes volume updates for the top-level spread, the spread legs and the outright legs. With this change, the spread legs will no longer have a volume update when traded as part of a spread-of-spreads. The following table outlines the new behavior. This change only affects trades for spread-of-spreads. Trades in spreads will continue to function as they do today.

Current State
PS Pack Spread – Volume update
Effective Sunday, September 10
PS Pack Spread – Volume update
PK Pack 1 – Volume update PK Pack 1 – No volume update

 Outright leg 1 – Volume update

 Outright leg 1 – Volume update

 Outright leg 2 – Volume update

 Outright leg 2 – Volume update

 Outright leg 3 – Volume update

 Outright leg 3 – Volume update

 Outright leg 4 – Volume update

 Outright leg 4 – Volume update

PK Pack 2 – Volume update PK Pack 2 – No volume update

 Outright leg 1 – Volume update

 Outright leg 1 – Volume update

 Outright leg 2 – Volume update

 Outright leg 2 – Volume update

 Outright leg 3 – Volume update

 Outright leg 3 – Volume update

 Outright leg 4 – Volume update

 Outright leg 4 – Volume update

Detailed spread and spread-of-spread information is available in the Client Systems Wiki.

This change will be available for customer testing in New Release Monday, August 14.

Update - Self-Match Prevention Enhancements

† Denotes update to the article

Effective Sunday, September 24 (trade date Monday, September 25) CME Group will launch enhancements to CME Globex Self-Match Prevention (SMP). SMP is optional functionality that allows market participants to prevent the matching of orders for accounts with common ownership if both the buy and sell orders contain the same SMP ID and Globex Firm ID.

With these enhancements, iLink customers will have the ability to configure SMP functionality across multiple Globex Firm IDs within or across clearing firms. Upon this release, orders submitted with unregistered SMP IDs will be rejected. CME Globex will send a Session Level Reject (tag 35-MsgType=8) message including tag 58=<Reject Reason>. All Good 'Till Cancel (GTC) and Good 'Till Date (GTD) orders with unregistered SMP IDs must also be updated to use a registered SMP ID by the close on the Friday before launch. Any remaining GT orders with unregistered SMP IDs will be eliminated at Sunday start-up on launch weekend.

The Firm Administrator Dashboard interface will continue to be used to request new SMP IDs but will be enhanced to allow existing SMP IDs to be modified to support additional Globex Firm IDs.

Detailed information, including the launch schedule, is available in the Client Impact Assessment.

The new SMP enhancements are currently available for customer testing in New Release. Customer certification is not required, but CME Group strongly recommends all system providers test these changes thoroughly in New Release.

Please note: Clients planning to test the SMP enhancements in New Release must contact their Global Account Manager to receive new SMP IDs, which will be activated after the New Release daily maintenance period (16:00 to 16:45 central time).

Please contact your Global Account Manager with any questions or concerns in the U.S. at +1 312 634 8700, in Europe at +44 203 379 3754 or in Asia at +65 6593 5505 for additional information.

New - Implied Functionality for CME FX Futures and SD Calendar Spreads

Effective Sunday, September 24, 2017 (trade date Monday, September 25), implied functionality will be enabled on the following CME FX futures outrights and all SD calendar spreads (i.e. serial-serial, serial-quarterly, quarterly-quarterly) in the first 12 months.

Implied Functionality for CME FX Futures and SD Calendar Spreads
Product MDP 3.0:
Tag 6937-Asset
iLink: tag 55-Symbol
MDP 3.0 tag 1151 - Security Group
British Pound 6B 6B
Canadian Dollar 6C 6C
Euro FX 6E 6E
Japanese Yen 6J 6J
Australian Dollar 6A 6A
Euro/British Pound RP FB

Implied functionality utilizes bids and offers in both spreads and their outright contracts to provide the most liquid possible markets with the best possible prices. In internal testing, implied functionality increased incremental feed bandwidth up to 13% on the CME Globex FX Futures MDP 3.0 channels 314 and 320.

To identify CME FX futures products with implied eligibility, the market data Security Definition message (tag 35-MsgType=d) will contain tag 872-InstAttrbValue bit 19-Implied Matching Eligible =1.

Implied book updates are disseminated via the market data Incremental message (tag 35- MsgType=X ) with tag 269-MDEntryType=E (implied bid) and F (implied offer).

Implied functionality for CME FX futures will be turned on for customer testing in New Release on Monday, August 7.

Additional detailed information on the implied functionality is available in the Client Systems Wiki.

For more information please visit cmegroup.com/fxmonthlies.

Includes the following services:

  • STP
  • Drop Copy
  • ConfirmHub

Includes the following services:

  • CME Globex Credit Controls (GC2)
  • Risk Management Interface (RMI)
  • CME Account Manager

CME Account Manager: CME Globex Inline Credit Controls Available in New Release

Effective Sunday, July 23 (trade date Monday, July 24), Inline Credit Controls (ICC) functionality for CME Globex will be available for setting ICC limits.

Refer to additional information as needed:

Please contact your Global Account Manager for more information about onboarding and testing In-line Credit Controls functionality in New Release.

Please contact Certification Support for Electronic Trading (CSET) in the U.S. at +1 312 930 2322, in Europe at +44 20 3379 3803 or in Asia at +65 6593 5593 with questions while testing in New Release.

Please contact the CME Global Command Center (GCC) in the U.S. +1 800 438 8616, in Europe at +44 20 7623 4747 or in Asia at +65 6532 5010 with any production questions.

Includes the following services:

  • Firm Admin Dashboard
  • AutoCert+

Contact Us

Global Account Management
U.S.: +1 312 634 8700
Europe: +44 20 3379 3754
Asia: +65 6593 5505

Global Command Center
U.S.: +1 800 438 8616
Europe: +44 20 7623 4747
Asia: +65 6532 5010
GCC Website

Certification Support for Electronic Trading (CSET)
U.S.: +1 312 930 2322
Europe: +44 20 3379 3803
Asia: +65 6593 5593

More in Develop to CME Globex