|Topics in this issue include:
|Critical System Updates|
Changes to Instrument Creation (MO) Replay Channels
The new MO Replay channels on the Market Data Platform, introduced in November 2007, allow customers to listen only to the MO messages for which they receive market data. With these new channels, every product RLC data channel (e.g., channel 7, Equity futures; channel 8, Equity options, etc.) now has a dedicated MO Replay channel.
Please note, these changes only affect the RLC-format channels. There are no changes to the ITC 2.1-format channels.
The new MO Replay channels are currently available in New Release, Certification and production. The channel definition tables are available online for Certification and New Release, and for production.
Volatility-Quoted Options Launch
Volatility-quoted options support delta-neutral trading, which virtually eliminates the execution risk inherent to trading premium price options. The volatility-quoted options will utilize the existing FX options and futures products.
To simplify market data dissemination and processing, all market data for these new volatility-quoted options is segregated to new Market Data Platform channel 6. The market data for the equivalent premium legs is disseminated on channel 12, per current behavior. Information on the new channel is available in the New Release Channel Definition table.
All of the volatility-quoted options suite, including all maturities in the American- and European-style, and Straddle, Strangle and Vertical strategies, are available in the New Release environment for customer testing. Customers can certify for volatility-quoted options in New Release via AutoCert+. This brief certification is mandatory for all systems that will provide trading access to these options.
More information on these new products and the associated messaging and functionality enhancements is available in the Volatility-Quoted Options Client Impact Assessment.
NYMEX Natural Gas Futures Extension
More information on the Natural Gas futures is available in the NYMEX on CME Globex Snapshot.
These additional contracts are currently available in the New Release environment for customer testing.
The Calendar spreads will use Strategy Type Code SP and the Butterfly spreads will use BF. The Strategy Type Code can be found at position 727-728 in the Instrument Creation (MO (m-oh)) RLC market data message. More information on the Strategy Type Code and MO messages is available in the RLC Message Specifications module of the Market Data Platform SDK.
These new spreads are currently available in New Release and Certification for customer testing.
Lean Hog Option Strikes Expansion
These expanded strikes will be available in New Release for customer testing Tuesday, February 19.
Minimum Tick and Spread Changes For U.S. Treasury Products
The Tick Display Format Type (position 572), Number of Decimals in Displayed Price (position 574) and Strategy Type Code (position 727) can be found in the Instrument Creation (MO) RLC market data message. More information on these fields and their recommended use is included in the CBOT Client Impact Assessment.
These changes will be available for customer testing in New Release on Tuesday, February 19.
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Futures trading is not suitable for all investors, and involves risk of loss. Futures are a leverage instrument, and because only a percentage of a contract's value is required to trade, it is possible to lose more than the amount of money initially deposited for a futures product.