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
Enhancements Service Production New Release
CME FX Roadmap CME Globex
   
Market By Order Market Data CME Globex June 4 Available
Triangulation Functionality for Additional CME FX Products CME Globex
June 18 Available
Streamlined FIX/FAST and ITC 2 Blocks Decommission CME Globex
June 23 June 23
Market Data Dissemination of Intraday Settlements Prices CME Globex
June 25 Available
Eris Exchange Streamlined SBE Enhancements CME Globex
June 25 Available
New IPs and Ports for iLink Convenience Gateways CME Globex
June 2017  
Globex Risk Management Enhancements: Inline Credit Controls CME Globex
July 2017 Available

CME FX Roadmap

Date Environment Description
June 1, Thursday FX Prod 2017 Implied FX Futures
June 4, Sunday FX Prod 2017 Changes to Channel 320
June 18, Sunday FX Prod 2017 Triangulate CAD & EUR
June 25, Sunday FX Prod 2017 Changes to Channels 342 & 343

Market By Order Market Data

Continuing Sunday, June 4 (trade date Monday, June 5), to increase market transparency and customer choice, CME Group will continue the rollout Market by Order (MBO) for CME Globex markets.

Market Data Platform with MBO will feature:

  • Ability to view individual queue position and size of individual orders at a price while remaining anonymous
  • Existing channels enhanced to provide both MBO and MBP data on a single feed
  • CME Direct support
  • Exchange and asset class roll out model

The client impact assessment provides functionality and messaging information.

MBO is now available in New Release for customer testing. Please view the MBO rollout schedule for the new production dates.

With the introduction of MBO overall incremental feed bandwidth is expected to increase 30-40%. During peak times the number of incremental feed packets per millisecond may increase up to 40-50%.

The MBO certification suite is now available in AutoCert+ for customer testing. Customer systems who choose to process MBO via CME Globex must complete this certification.

Triangulation Functionality for Additional CME FX Products

Triangulation functionality will be enabled for the following CME FX products:

  • Sunday, June 18 (trade date Monday, June 19)
    • Canadian Dollar
      • Futures: tag 6937=6C
      • Premium-Quoted Options: tag 6937=CAU, 1CD-5CD
      • Volatility-Quoted Options: tag 6937=VXC, VCA-VCE
    • Euro FX
      • Futures: tag 6937=6E
      • Premium-Quoted Options: tag 6937=EUU, 1EU-5EU
      • Volatility-Quoted Options: tag 6937=VXT, VTA-VTE

The Swiss Franc, British Pound and Canadian Dollar markets will use a minimum quantity requirement of 10 lots to trigger a Triangulation execution. Japanese Yen and Euro FX will use 20 lot minimum for Triangulation execution. All Volatility-Quoted Options have a 20-lot minimum order size. These minimums are designed to mitigate the risk of a VQO or Triangulated execution without an assigned future.

In internal testing, triangulation functionality increased incremental feed bandwidth up to 25% on the CME Globex FX Options MDP 3.0 channels 315 and 321.

Triangulation functionality for the Japanese Yen, British Pound, Swiss France, Canadian Dollar and Euro FX is currently available for customer testing.

Streamlined FIX/FAST and ITC 2 Blocks Decommission

Blocks market data is now available on the streamlined SBE feed. The following streamlined FIX/FAST and ITC 2 Blocks feeds will be decommissioned in the New Release and Production environments as follows:

Streamlined FIX/FAST and ITC 2 Blocks Decommission
Streamlined FIX/FAST and ITC 2 Production New Release Client Impact Assessment
FIX/FAST Eris Exchange June 23 June 23 Eris Exchange Streamlined Conversion to SBE

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.

Market Data Dissemination of Intraday Settlements Prices

† Denotes update to the article

Effective Sunday, June 25 (trade date June 26) CME Group will fully support Tag 731-SettlPriceType bit 3 = “1” to indicate an Intraday Settlement.

Intraday Settlement Prices will be published on the last trading day of the calendar month for equity futures contracts. The settlement prices for equity products will be disseminated while the trading session is still active. They will represent a snapshot valuation of the settlement price at the time that they are published.

†Market Data Dissemination of Equity Intraday Settlements Prices
MDP 3.0 Channel Description MDP 3.0 Channel MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
MDP 3.0 tag 1151 - Security Group
CME Globex Equity Futures Channel 310 ES ES
CME Globex Equity Futures - excludes E-mini S&P 500 Channel 318 SP SP

†Intraday Settlement Prices for Dubai Mercantile Exchange (DME) will be published daily.

These changes will be available for customer testing in New Release on Tuesday, May 30. †To test tag 731-SettlPriceType bit 3 = “1” 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.

The MDP 3.0 Market Data Incremental Refresh message including the tag 731-SettlPriceType field is documented here.

Eris Exchange Streamlined SBE Enhancements

Effective Sunday, June 25 (trade date Monday, June 26), the Eris Exchange will launch enhancements with new functionality for the Streamlined SBE feed.

The streamlined Market Data enhancements will feature:

  • Theoretical update book processing
  • New daily statistics and reference data
  • Expanded instruments

The client impact assessment provides functionality and messaging information.

The enhancements and new functionality is available in New Release for customer testing.

The Eris streamlined SBE enhancements certification suite will be available in AutoCert+ for customer testing on Monday, May 15. Customer systems who choose to process Eris exchange streamlined SBE market data must complete this certification.

New IPs and Ports for iLink Convenience Gateways

† Denotes update to the article

Following the successful launch of Market Segment Gateway (MSGW), CME Group is introducing improvements to the Convenience Gateway (CGW) architecture. These changes include a hardware upgrade and are designed to reduce CGW IP management needs. There should be no performance change for iLink CGW sessions.

Effective Sunday, June 25 (trade date Monday, June 26), all CGW iLink sessions will use new IPs and ports. The new IP ranges are currently available on the Client Systems Wiki. Your Global Account Manager will provide the new IP and port mapping for your sessions by the end of the month.

All CGW iLink sessions must migrate to the new IPs and Ports in order to access CME Globex markets. The current IPs will be disabled after the close on Friday, June 23. A connectivity mock will be held Saturday, June 24.

An optional migration on Sunday, June 18, is also available. †Please provide your Global Account Manager with iLink sessions you will be testing migrate on this date by Friday, June 2. A connectivity mock will be held for those migrating early on Saturday, June 17.

CME Group is supporting a telnet test to the new primary CGW IPs and ports on Saturday, June 3, 9:00 – 10:30 am Central Time (CT). Backup CGWs will not be available. Login, application and administrative messaging will not be supported during the test. TCP connectivity will be supported during the test. †Please provide your Global Account Manager with iLink sessions you will be testing by Friday, June 2, to participate. If you experience any issues during the mock trading session, please dial into the conference bridge.

†Conference Bridge Details:
US toll free: 1 877 979 3898
International: 011 404 410 4584
Access Code: 6485475

Please note: Later this year, CGW sessions will move to the MSGW-style Application Level Fault Tolerance, with an enforced primary gateway. To minimize impact when this change is implemented customers must use their designated Primary IPs and Ports upon launch.

Drop Copy is not impacted by this change, but some iLink source sessions may be moved to different target sessions. The IPs and ports for Drop Copy sessions will not change.

If you have any questions or concerns, please contact your Global Account Manager 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.

Globex Risk Management Enhancements: Inline Credit Controls

In July 2017, 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.

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.

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.

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

In †July 2017 Inline Credit Controls (ICC) functionality for CME Globex will be available for production. ICC is an optional risk management tool that allows Clearing Member Firms and Executing Firms to set daily position limits for CME Globex orders, per product, at the account level. Each order will be checked on an in-line, pre-execution basis.

Features:

  • ICC limits apply to CME Globex orders only.
  • Daily quantity position limits are 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%).

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

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

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 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