|Topics in this issue include:
|Critical System Updates|
Effective Sunday, June 6, CME Globex market data will be disseminated exclusively in FIX/FAST 2.0 format. This launch introduces a number of customer-requested enhancements to support trading and market data strategies. A subset of Market Data Platform channels are currently available in production for parallel testing.
The FIX/FAST 2.0 format is not backward-compatible to the current FIX/FAST format. Even if a customer does not want to take advantage of these enhancements, to ensure uninterrupted access to CME Globex market data, all current customer systems are required to develop to FIX/FAST 2.0 and complete mandatory certification via AutoCert+.
FIX/FAST 2.0 is currently available for customer testing in the New Release environment and on the parallel Market Data Platform channels in production. Information on this release can be found online in the FIX/FAST 2.0 Client Impact Assessment.
FIX tag 64-SettleDate on Production Parallel Channels
A new configuration file for the Production environment, named config20.xml, is available on the ftp.cmegroup.com site. This file contains five channels utilizing the FIX/FAST 2.0 format. These channels have new IP addresses and ports. The balance of channels in this file are in the FIX/FAST 1.6 format with the current multicast IPs and ports.
Please note: the new tag 64-SettleDate will be added to the Market Data Incremental Refresh (tag 35-MsgType=X) settlement messages this weekend for the parallel channels CME Equity futures (307), CME Interest Rate options (310), and CME FX futures (311). Tag 64-SettleDate is also available for testing on all channels in the New Release environment.
The impacted channels are listed below.
Channel 7 - CME Equity Futures
Channel 8 - CME Equity Options
Channel 32 - NYMEX Metals, Softs and Alternative Markets and COMEX Futures
Channel 37 - NYMEX Metals, Softs and Alternative Markets and COMEX Options
Current channel configuration information is available on the ftp.cmegroup.com site as outlined in the Core Functionality module of the FIX/FAST Software Development Kit. Information on the new channels will be added to the config.xml file this Sunday, May 23. The channels will be available for customers and broadcasting heartbeats as of Sunday, June 6.
These new channels are currently available in New Release for customer testing.
CME Globex Performance Enhancements for Select CBOT Commodity Futures
These performance improvements will be applied to the following products.
There will be no changes to functionality or messaging format with these performance improvements. Good 'Till Cancelled and Good 'Till Date (GTC/GTD) orders will not be impacted.
With this launch CME Group customers will be able to trade the world's most-consumed edible oil in a cash-settled, dollar-denominated contract, with the safety and liquidity of CME Group. This expansion of the edible oil product suite also creates opportunities for cross-trading with soybean oil based on the historically strong correlation between these products. Together, crude palm oil and soybean oil account for about 61 percent of all the edible oil in the world.
Crude Palm Oil futures will have tag 1151-SecurityGroup=CPO and tag 55-Symbol=UC. It is listed on CME (tag 207=XCME) and market data will be distributed on the CME Commodity Futures Market Data Platform channel (13).
The new dollar-denominated Crude Palm Oil futures are currently available for customer testing in the New Release environment.
International Skimmed Milk Powder Futures and Options
Skimmed milk in powder form has become a popular source of protein because it does not require refrigeration, making it easier to transport and store than fluid milk or dairy products containing fat. Delivery points for the electronically traded product include Auckland (New Zealand), Los Angeles, CA (US), Melbourne (Australia), Newark, NJ (US), Rotterdam (Netherlands) and Seattle, WA (US). The international dry milk market size is estimated at $6.7 billion U.S. dollars.
These futures and options are currently available for customer testing in Certification and New Release.
The Ultra T-Bond futures contract is the fastest growing interest rate futures product ever introduced by the CME Group exchanges. Adding options to this robust futures market will provide even more opportunities for market participants seeking longer-dated, off-balance sheet exposure in Treasury markets.
Ultra T-Bond options will have tag 1151-SecurityGroup=OUB and tag 55-Symbol=UB. It is listed on CBOT (tag 207=XCBT) and market data will be distributed on the CBOT Interest Rate Options Market Data Platform channel (116).
The new Ultra T-Bond options will be available for customer testing in the New Release environment Monday, May 24.
New Variable Quantity Energy Futures
These new variable quantity products are defined as follows:
These products will be available for customer testing in New Release this Monday, May 24.
The CME Globex codes for the Vintage 2009 futures will be tag 55-Symbol=VO and tag 1151-SecurityGroup=VAF.
The Environmental Protection Agency's (EPA) Clean Air Act Amendments of 1990 set a goal of reducing annual sulfur dioxide emissions. Reductions in SO2 emissions are facilitated through a market-based cap and trade system - the centerpiece of the EPA's Acid Rain Program. The new sulfur dioxide contracts will allow more flexibility in trading attributable to the vintage mechanism of this product. Compliance emitters under the EPA's Program can now have physically delivered previous vintage SO2 certificates for compliance purposes.
The new SO2 Emission Allowance Vintage 2009 futures will be available for customer testing in New Release Monday, May 24.
Maximum Order Quantity Changes for NYMEX and COMEX Products
The maximum order quantity for every instrument listed on CME Globex is identified in tag 1140-MaxTradeVol, in the Security Definition (tag 35-MsgType=d) message.
The increased maximum order quantity will be available for customer testing in New Release this Monday, May 24.