• CBOT Integration Update

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      • CME Globex Customer
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      • CME Globex Account Management
      • #
      • 20080109
      • Notice Date
      • 09 January 2008
    • Mock Trading Session Saturday, January 12  
      Participation in this weekend's mock trading session is strongly encouraged.

      In response to customer requests, this Saturday's session will include the legacy CBOT Interest Rate products. More information is available in the CBOT Mock Trading Plan.

      Customers participating in this Saturday's mock trading session are requested to call into the conference bridge at 866.548.4703, passcode 584529, to receive important updates and information during the session.

      All times are given in Central time (CT).

      • 8:30 a.m.: Customer login to CME Globex
        • Instrument Creation (MO) messages available for download
      • 9 - 11 a.m.: Mock Trading Session
        • 9 - 10 a.m.: Scripted testing
          • End-to-end testing through Clearing
        • 10 - 11 a.m.: Unscripted testing
          • Front-end testing only
          • CME Group injects CBOT futures orders into markets

      Key Details

      • Legacy CME markets will also be open to customers; however, there will be no data replay in these markets.
      • CME Group strongly recommends customers test any new iLink IDs in production before the Saturday mock trading session.
      • In previous mock trading sessions, some QuickFIX users were unable to trade due to a QuickFIX configuration issue. Please ensure that your application is configured to permit Saturday trading.
      • During this Saturday's session, the e-cbot simulation environment will be available.

      CME Group Contact Information
      In addition to the conference bridge, the CME Globex Control Center (GCC) and CME Group Clearing Services will be available throughout the mock trading session for any questions or concerns.

      • Conference Bridge: 866.548.4703, passcode 584529
      • GCC: 312.456.2391
      • Clearing Services: 312.207.2525

      Changed Electronic Commodity Trading Hours  
      The electronic trading hours for legacy CBOT commodity products on CME Globex are changing as follows:

      • 4:50 p.m. - Pre-open (currently 5:30 p.m. on e-cbot)
      • 6:00 p.m. - Open (currently cycles by product beginning at 6:30 p.m.on e-cbot)
        • Note: Futures and Options will open at the same time
      • 6:00 a.m. - Futures halt and enter pre-open
        • Options close
      • 9:30 a.m. - Futures Side-by-Side open
      • 1:15 p.m. - Futures close
      • 2:30 - 4:30 p.m. - Monday - Friday afternoon pre-open session for futures only (currently 2:30 - 3:55 p.m. on e-cbot)

      There are some minor differences for South American Soybean futures and the mini products. A complete list of trading hours is available in Appendix I of the CBOT Client Impact Assessment.

      Reminder for Order Pricing  
      Please note: any orders submitted to the CME Globex platform with more than seven (7) digits to the right of the decimal in FIX tag 44, Price, will be rejected. CME Globex supports a maximum of seven digits after the decimal in tag 44.

      Changed CME Globex Product Codes  
      Effective Sunday, January 13, 2008, the following products will be available for trading with new CME Globex product codes. These products will also be available for the mock trading session this Saturday. Please note: these codes are different than the previous e-cbot product codes.

      • Ethanol futures (EH)
      • Ethanol options (OEH)
      • E-mini Soybean futures (XK)
      • Dow Jones SM U.S. Real Estate Index futures (RX)
      • Dow Jones AIG Commodity Index Excess Return futures (AW)

      The 30-Year Interest Rate Swap futures (I3) will be available effective Sunday, January 27, and for the mock trading session on Saturday, January 26.

      Equity Calendar Spreads on CME Globex  
      As previously announced, the trading convention for equity futures calendar spreads on the CME Globex platform will match the current equity convention, and is the opposite of the e-cbot convention. On CME Globex, the trading convention is that a bid equals sell leg 1 (near month) and buy leg 2 (deferred month), resulting in a positive spread price. The legacy e-cbot convention is that a bid equals buy leg 1 (near month) and sell leg 2 (deferred month), resulting in a negative spread price.

      Early Entry for Good-Till Orders  
      Last Sunday, January 6, Instrument Creation (MO) RLC and Security Definition FIX/FAST market data messages were disseminated for the CBOT & Hosted Exchange instruments scheduled to launch this Sunday, January 13. They are now available on their respective replay channels. CME Group is broadcasting these messages to prepare customers to enter Good 'Till Cancel (GTC) and Good 'Till Date (GTD) orders during the extended pre-open period on Friday, January 11.

      These market data messages for the CBOT Interest Rates products will be broadcast starting January 20, to facilitate GTC/GTD order entry on Friday, January 25. They will subsequently be available on their respective replay channels.

      Any resting GTC and GTD orders for CBOT & Hosted Exchange products will be removed from e-cbot at 4:20 p.m. CT on the Friday before their migration to CME Globex.

      The schedule for the extended futures pre-open for entering GTC/GTD orders is:

      • Friday, January 11
        • Commodity & Hosted Exchanges futures - 1:30 - 6:00 p.m. CT
        • Equity futures - 4:00 - 6:00 p.m. CT
      • Sunday, January 13
        • All of the above futures - 3:00 p.m. - market open
      • Friday, January 25
        • Interest Rate futures - 4:00 - 6:00 p.m. CT
      • Sunday, January 27
        • Interest Rate futures - 3:00 p.m. - market open

      More information, and the complete list of products scheduled to launch on January 13 and 27, is available in the Client Impact Assessment.

      CBOT Integration Resources  
      The new CBOT & Hosted Exchanges Quick Reference Guide for Traders is now available on the CME Group Web site. The updated CBOT Mock Trading Plan and the Client Impact Assessment for the CBOT & Hosted Exchange launch on CME Globex are also available. All documentation for this migration to the CME Globex electronic trading platform is available on the CME Group Web site.

      CBOT & Hosted Exchange Launch Schedule
      Remaining Mock Trading Sessions January 12
      January 26
      Commodities, Dow & Hosted Exchanges Product Launch January 13
      Interest Rate Product Launch January 27

      Please contact your CME Globex Account Manager for more information at 312.648.3736; in Europe at +44.20.7796.7100; or in Asia at +852.3101.7696.

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