Dairy Spot Call Auction

Dairy Spot Call Data

Following the successful transition of Nonfat Dry Milk to the electronic auction in January, Spot Call Butter will move to the CME Direct Auction Platform on Monday, April 10.

Customers who are not currently registered and enabled to trade Butter on CME Direct Auction Platform should register before March 27 to ensure readiness by the go-live date. 

The auction time will be revised to accommodate a break between the open outcry Cheese sessions, and the electronic Butter and Nonfat Dry Milk sessions. See the table below for the current and the revised hours.

Type Current Hours Revised Hours with Butter and NDM Electronic
Cheese (Barrels and Blocks) 10:45 a.m. - 10:55 a.m. No change
Butter 11:00 a.m. - 11:10 a.m. 11:15 a.m. - 11:25 a.m.
Nonfat Dry Milk 11:30 a.m. - 11:40 a.m. No change

CME Group facilitates daily wholesale price discovery in physical dairy markets for Cheddar Cheese in Barrels and Blocks, Butter, and Nonfat Dry Milk. The spot call functions to manage/balance participants’ current inventories provide a trusted environment to transact business, and to provide an open and transparent price discovery mechanism for our customers.

The decision to change from an open outcry market to CME Direct Auction was made in response to industry demand and will further enhance the transparency of prices and user experience, while expanding access to a broader set of commercial dairy customers, brokers, and other physical market participants. 

Contact Us

We will be working closely with customers and end users to ensure a seamless transition to the CME Direct Auction platform.

Dairy Auction Hotline:

+1 312 648 3999

Questions?

Dairy Team

To ensure readiness prior to going live, contact:

Dairy Spot Call Onboarding

CME Direct Auction

CME Direct Auction is an innovative and proven transaction-based auction platform for trading and price discovery in physical spot markets.

How is CME Direct Auction Platform different from CME Direct?

Futures and options products are available on CME Direct, while physically delivered spot call dairy products are available on the CME Direct Auction Platform. They are two separate platforms, requiring separate registration. A trader who is registered on CME Direct to trade futures and options will still need to complete the registration process for the CME Direct Auction Platform.

View the CME Direct Auction user manual

Registering for CME Direct Auction - Dairy Spot Call

A verification officer for the firm must complete and submit the registration information to receive access to the CME Dairy Auction.

A verification officer is a primary firm contact with inherent authority to add and remove users from the CME Direct Auction platform. We strongly encourage the assignment of a back-up officer.

Registering Online for CME Dairy Auction – Dairy Spot Call is Free and Easy

New Firm & User Registration

For firms that are not currently registered for CME Direct Auction.

Step 1

Verification officers and users of the platform must register and activate a CME Group Login ID

Register for CME Group Login.

CME Group Login is a self-managed, centralized user profile service that authenticates access to applications and services.

Learn more about CME Group Login.

Step 2

Read and agree to the required CME Spot Market Trading Agreement. This step applies to Production Access only.

Step 3

Complete and submit the CME Direct Auction Registration Form. 

Sign up for Production Access  (The production environment will not be live until November. You will be emailed production login details at that time)

Sign up for Test Access (The test environment is currently live. You will be emailed test login details shortly after completing the registration form.)

By clicking the “Submit” button at the bottom of the page, your request will be routed to our EASE team for processing. Upon receipt and validation, EASE will onboard your firm and users. You will receive notification via email upon completion.

For questions about the process or status of your registration, contact:

CME Enterprise Application & System Entitlements (EASE)

U.S. +1 312 456 1560
Europe +44 20 3379 3802
Asia +65 6593 5536

Step 4

Registered trading firms must contact their clearing member to request that a clearing account be added to CME Account Manager. Clearing members should be provided with a list of products as well as a list of OTC brokers that can enter trades on their behalf.

The CME Direct Auction application requires Microsoft .NET Framework 3.5 Service Pack 1

Access the Test Environment.

Access the Production Environment.

Additional User Registration

This process is for firms already registered with CME Group that wish to add additional users. The process must be completed by a verification officer.

Step 1

Each new user must create and activate a CME Group Login ID and provide the verification officer with their newly created CME Group Login IDs.

Register for CME Group Login.

Step 2

Verification officer must complete and submit the CME Direct Auction Additional User Form. 

Register an Additional User. (Production Environment)

Register an Additional User. (Test Environment)

By clicking the “Submit” button at the bottom of the page, your request will get routed to our EASE team for processing. Upon receipt and validation, EASE will onboard new users. Users will receive notification via email upon completion.