| 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 Emissions Futures
CME Globex will be hosting a mock trading session for these products in production on Saturday, March 8. More information will be available next week.
More details on these new NYMEX products is available from NYMEX Product Marketing at 212.299.2301.
These new instruments will be available for customer testing in Certification this Monday, March 3; and New Release this Tuesday, March 4.
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 are currently available for customer testing in New Release.