CME ClearPort® Market Operations
August 22, 2011
September 09, 2011
Please be advised of the following changes to the CME ClearPort® User Interface, effective September 9, for trade date September 12, 2011:
- All products on CME ClearPort® will be configured for both single sided and dual sided trade entry.
- Single Side Trade Entry can occur in CME ClearPort® through two models:
- The Buyer and Seller of a trade can each separately enter their respective side of the trade into CME ClearPort®, indicating each other as the opposite parties, and the system will match the two sides together, provided that all required match-critical fields are identically populated.
- One side of a trade (the buyer or seller) can enter their respective side of the trade, indicating the opposite side. The other party can then Accept the alleged trade from the Trade Blotter, entering in the account information for their side. An alleged trade can also be Rejected if the trade information is incorrect.
- Single Side Trades can be entered by “Brokers,” “Active Trading Firms,” and “Asset Managers”. With this model, a trade could have a different Broker on the Buy Side and the Sell Side, a Broker opposite an Active Trading Firm, two Active Trading Firms directly transacting, etc.
- All registered Brokers and Asset Managers are automatically eligible for Single Side Trade Entry with no additional registration required.
- Trading Firms must “opt in” to directly transact on Single Sided deals by registering as an Active Trading Firm. Participants should be aware that the list of Brokers, Active Trading Firms and Asset Managers for a specific product is shown in a dropdown to other participants in that market when a trade is being entered.
- Trading Firms who continue to transact through a broker using Single Side Trade Entry do not need to register as an Active Trading Firm.
- Due to the nature of Single Sided deals, trades entered in this way do not have the same anonymity as traditional brokered (“Dual Sided”) trades. The opposite party of the transaction will always be shown. Therefore, if two Active Trading Firms directly transact, the opposite Active Trading Firm will be shown. However, if one or both parties transact through a Broker, that Broker will be shown as the opposite party, and the firm “behind” that Broker will remain anonymous.
- All CME ClearPort® Rules and Regulations regarding transaction eligibility, posting and documentation requirements, Block Trade rules, etc., remain unchanged.
- Users who are properly registered will have the ability to toggle the deal mode from dual sided to single sided trade entry by clicking a ‘to single side mode’ button. If a user clicks the ‘to single-side mode’ button the title ‘Buyer Information’ should change to ‘Account Information’ and ‘Seller Information’ should change to ‘Opposite Information’.
- Additional information regarding Single Side Trade Entry can be found in the User Guide at: http://www.cmegroup.com/clearing/files/CME_ClearPort_GUI_User_Guide.pdf
Should you have any questions about Single Side Trade Entry or would like to register your Trading Firm to submit single sided trades, please contact CME ClearPort® Market Operations at 800-438-8616/ 212-299-2670 or e-mail: CustCare@cmegroup.com.