Please be informed, effective with COMEX and NYMEX integration, August 17th and September 14th 2009, respectively, FEC will no longer translate the filling broker for electronic trades into the floor broker acronym. Therefore, it will be incumbent upon firms to read the Tag 50 (party role 44 in FIXML) as is currently done for CME and CBT products.
Upon completion of the integration of COMEX and NYMEX products to the CME Group FEC (Front End Clearing) platform, the ability to group multiple brokers under one broker acronym, as is currently done in TMS, will no longer be available. Nevertheless, CME offers the same grouping capability in a different manner via GLOBEX.
Firms that have an ongoing need to logically group multiple brokers/traders under one identifier for risk and/or order management purposes can do so by requesting a new GLOBEX-API firm number, as is done currently for CME and CBT products, from your respective GLOBEX Account Manager (GAM).
A firm can assign one or many brokers/traders to this new API number. Each broker/trader will still be required to identify themselves with their unique operator id (via Fix Tag 50) upon each session logged into and the assigned I-link/trader ID will be a searchable criteria in FEC and it will populate the filling broker field on the trade register report and data file.
With respect to clearing fees and brokerage payments for GLOBEX trades, CME Group manages those independently in each respective system. For members’ clearing fees, the Exchange Fee System (EFS) separately associates each member’s acronym to the Fix tag 50 id as it is registered in EFS. For brokerage billing purposes, the Brokerage Payment System (BPS) does the same; e.g. separately associates each member’s acronym to the Fix tag 50 id that is registered in BPS.
Provided that the broker/member logs into GLOBEX with the assigned session/user id and his/her registered tag 50 operator ID, FEC will group such members for risk and order management purposes; and EFS and BPS will respectively assess the appropriate clearing fees and brokerage payments.
If you have any questions, please call CCS at 312-207-2525 or email clearing services at email@example.com.
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.