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:
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 BAMS 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 BAMS for foreign currency cash and securities for next day value (AUD, JPY, SEK, SGD). |
| 11:00 a.m. CT | Clearing Member deadline to enter all collateral deposit and/or withdrawal requests in BAMS prior to Intraday Settlements 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 BAMS 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 in BAMS. 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 deposit or request withdrawals of USD cash in BAMS. Cash for deposits must be received in CME Settlement Bank accounts by 2:30. Clearing Member deadline to enter withdrawal requests of Stocks, ETFs, and Corporate Bonds into DTC and BAMS. |
| 3:00 p.m. CT | Deadline for same day processing of Letters of Credit. |
| 3:30 p.m. CT | Clearing firm deadline to enter deposits requests of Stocks, ETFs and Corporate Bonds into DTC and BAMS. |
| 4:00 p.m. CT | Clearing Member deadline to enter deposit and/or withdrawal requests in BAMS for foreign currency cash and securities for next day value (CAD, EUR, GBP, and MXN) or T+2 value (AUD, JPY, SEK, SGD). |
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:
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| 4:00 p.m. SAST |
Capture quotes for the following currencies:
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| 4:00 p.m. CET |
Capture quotes for the following currencies:
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| 4:00p.m. London |
Capture quotes for the following currencies:
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| 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 Early Coal (Clearing Codes F2C, F2Q, F4C, F4Q, MTC, MFY) | 10:00 a.m. | 9:00 a.m. |
| Dutch and UK Natural Gas (Clearing Codes TFO, TTO, UFO and UKO) | 10:00 a.m. | 9:00 a.m. |
| 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 Brent Crude Oil Futures Style Margin Option Contracts (BZO) UPDATE: No Contrary Instructions Commencing with March 2020 - SER-8430 | 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. |
| NYMEX and COMEX Option Contracts | 4:30 p.m. | 3:30 p.m. |
| Run NYMEX/COMEX E/A Process (Produce reports) | ~5:15 p.m. | ~4.15 p.m. |
| NYMEX/COMEX Metal Delivery Intentions | 6:00 p.m. | 5:00 p.m. |
| CBT FLEX Cut off Exercise/Abandon Entry | 6:30 p.m. | 5:30 p.m. |
| Announce CBT FLEX Contrary Instructions | ~6:30 p.m. | ~5:30 p.m. |
| CBT Cut off Exercise/Abandon Entry | 6:30 p.m. | 5:30 p.m. |
| Announce CBT Contrary Instructions | ~6:30 p.m. | ~5:30 p.m. |
| CME Cut off Exercise/Abandon Entry | 6:30 p.m. | 5:30 p.m. |
| Announce CME Contrary Instructions | ~6:30 p.m. | ~5:30 p.m. |
| NYMEX Late Power and Coal Contracts | 6:30 p.m. | 5:30 p.m. |
| CBOT Flex Option Contracts | 6:30 p.m. | 5:30 p.m. |
| CME Option Contracts | 6:30 p.m. | 5:30 p.m. |
| CBOT Option Contracts | 6:30 p.m. | 5:30 p.m. |
| NYMEX/COMEX/DME FEC cut-off (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 cut-off (Electronic) | 7:00 p.m. | 6:00 p.m. |
| Run CME, CBT E/A Process (Produce reports) | 7:15 p.m. | 6:15 p.m. |
| Run CBT FLEX E/A Process (Produce reports) | ~7:15 p.m. | ~6:15 p.m. |
| CME/CBT FEC cut-off (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. |
| CGM deadline (all markets) | 9:00 pm | 8:00 pm |
