Transaction Timelines

CME Clearing uses multiple daily timelines for our different processes and products. On this page we have compiled those timelines for your benefit. For a broader view of our hours of operation:

View trading hours.

Banking Timeline

CME Clearing adheres to a designated timeline for daily performance bond collateral transaction and settlement cycle processing. The time frames apply to all specialized programs supported by CME Group, unless noted otherwise.

Time Event

8:30 a.m. CT

Clearing Member deadline to enter deposit and/or withdrawal requests in C21 Asset Management for foreign currency cash and securities for same day value (CAD, EUR, GBP, and MXN).

10:30 a.m. CT

Clearing Member deadline to enter deposit and/or withdrawal requests in C21 Asset Management for foreign currency cash and securities for next day value.
 

11:00 a.m. CT

Clearing Member deadline to enter all collateral deposit and/or withdrawal requests in C21 Asset Management prior to Intraday processing. Entries made after this time may not be processed until Intraday completes.

1:00 p.m. CT

Clearing Member deadline to enter deposit and/or withdrawal requests in C21 Asset Management for COMEX Gold Warrants for margin credit.

2:00 p.m. CT

Clearing Member deadline to enter all non-cash collateral deposit and/or withdrawal requests into C21 Asset Management.

IEF2 deadlines vary by fund and may be earlier, but are accepted no later than 2pm CT.

2:30 p.m. CT

Clearing Member deadline to enter USD Cash deposit and/or withdrawal requests in C21 Asset Management.

 

Clearing Member deadline to enter withdrawal requests of Stocks, ETFs and Corporate Bonds into DTC system.

3:00 p.m. CT

Deadline for same day processing of Letter of Credit amendments and issuances.

 

3:30 p.m. CT

Clearing firm deadline to enter deposits requests of Stocks, ETFs and Corporate Bonds into DTC system.

OTC Clearing Timeline

New York Local Event
6:00 p.m.   Sunday evening market open
  4:00 p.m. Tokyo Capture quotes for JPY (LIBOR & OIS)
  4:30 p.m. Sydney Capture quotes for AUD (BBR-BBSW & OIS)
  4:30 p.m. Wellington Capture quotes for the NZD (BBR)
8:30 a.m.   Settlement banks confirm USD VM and Initial Margin call (portfolio) from previous day’s clearing cycle – USD, EUR, GBP and CAD cash moves at the settlement bank shortly thereafter (JPY, CHF and AUD are confirmed at this time, but cash moves on T+2).
3:00 p.m.   Capture quotes for USD (LIBOR & OIS) and CAD (CDOR & OIS).
  4:30 p.m.
Hong Kong & Singapore

Capture quotes for the following currencies:

  • HKD (HIBOR)
  • SGD (SOR)
  4:00 p.m. SAST

Capture quotes for the following currencies:

  • ZAR (JIBAR)
  4:00 p.m. CET

Capture quotes for the following currencies:

  • SEK (STIBOR), DKK (CIBOR/CIBOR2), NOK (NIBOR)
  • CZK (PRIBOR), PLN (WIBOR), HUF (BUBOR)
  4:00p.m. London

Capture quotes for the following currencies:

  • EUR (EURIBOR & OIS)
  • GBP (LIBOR & OIS)
  • CHF (LIBOR)
7:00 p.m.   Same day trade submission/acceptance deadline for all currencies.  Generate combined end-of-day Clearing reports for all currencies including Trade Register.
8:00 p.m.   Calculate Initial Margin for entire portfolio.
10:00 p.m.   Settlement instructions for all currencies are sent to settlement banks.
7:00 p.m.   Friday night Clearing closed until the following Sunday

Futures and Options Clearing Timeline

Event Eastern Time Central Time
NYMEX Coal (API 2 and API 4) contracts 1.00 p.m. 12.00 p.m.
NYMEX Brent Crude Oil Futures-Style Margin Option (BZO) contracts 3.30 p.m. 2.30 p.m.
NYMEX/COMEX Cut off Exercise/Abandon Entry 4:30 p.m. 3:30 p.m.
Announce NYMEX/COMEX Contrary Instructions ~4:30 p.m. ~3:30 p.m.
CBT FLEX Cut off Exercise/Abandon Entry  6:00 p.m. 5:00 p.m.
Announce CBT FLEX Contrary Instructions ~6:00 p.m. ~5:00 p.m.
Run CBT FLEX E/A Process (Produce reports)  ~6:00 p.m. ~5:00 p.m.
NYMEX/COMEX Metal Delivery Intentions  6:00 p.m. 5:00 p.m.
NYMEX/COMEX/DME FEC cutoff (ALL)  6:45 p.m. 5:45 p.m.
NYMEX/COMEX/DME PCS Deadline 7:00 p.m. 6:00 p.m.
CME/CBT FEC cutoff (Electronic)  7:00 p.m. 6:00 p.m.
CBT Cut off Exercise/Abandon Entry  7:00 p.m. 6:00 p.m.
Announce CBT Contrary Instructions  ~7:00 p.m. ~6:00 p.m.
Run NYMEX/COMEX E/A Process (Produce reports)  ~8:30 p.m. ~7:30 p.m.
CME Cut off Exercise/Abandon Entry  8:00 p.m. 7:00 p.m.
Announce CME Contrary Instructions  ~8:00 p.m. ~7:00 p.m.
CME/CBT FEC cutoff (Non-Electronic and Give-ups)  8:00 p.m. 7:00 p.m.
CME/CBT PCS Deadline  8:30 p.m. 7:30 p.m.
Run CME, CBT E/A Process (Produce reports)  9:30 p.m. 8:30 p.m.