|Variable Quantity Energy Products on CME Globex|
As previously announced, the first Variable Quantity energy products will launch on CME Globex Sunday, May 10, 2009 (trade date Monday, May 11). The following futures, calendar spreads, and future strips will be available for trading upon this launch:
Detailed product information for CME Globex is available online.
At customers' requests, to support an extended testing time for these new product types and messaging tags, these products will be available as betas in New Release. Customers should re-load the instruments each week at startup to ensure any changes to the instruments are captured. Any changes will be communicated via the CME Globex Notices.
Please note: the test products Chicago Natural Gas Basis Swap (NBN) and NYISO Zone A Locational Based Monthly Peak Swap Futures (KAN), currently listed in New Release for testing purposes only, are still available as well.
Effective Sunday, April 26, 2009 (trade date Monday, April 27), the FIX/FAST Security Definition message (tag 35-MsgType=d) will be enhanced to support the upcoming launch of variable quantity energy products on CME Globex. These products have a fixed contract size and a multiplier, which is applied to the number of lots traded to calculate the total Cleared Quantity. The Cleared Quantity varies within a product based upon the instrument's maturity.
A Client Impact Assessment is available online that details the FIX/FAST messaging impacts and order entry display considerations to support these new products, including information on the three test products currently available in New Release.
With this launch, the new tag 996-UnitofMeasure will be populated with a unit of measure for the contract size for all outright instruments listed on CME Globex.
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