This functionality makes the broker fees information submitted on CME ClearPort API available to CME STP consumers. Detailed information on CME ClearPort API support of broker fees is available here.
Testing and Certification
Certification is mandatory for CME STP customers planning to utilize the new broker fee attributes and the CommData element.
Testing is recommended to ensure a smooth experience for customers not planning to utilize broker fee attributes.
Broker fee submission on new trades and fee updates on existing trades will be supported for Outrights, Spreads and Allocations via CME ClearPort API.
Flow from CME ClearPort API to CME STP to Customer
CME STP trade reports have a dedicated block, the CommData element, for broker fees. Valid attributes are:
Type of Rate initially allowed for broker fees:
1 = Per Unit
2 = Percentage
8 = Per Contract
Rate per basis. For example, $1 per contract.
|Unit of measure|
|Unit of measure for trade.|
|Unit of Measure Currency|
|Currency unit of measure for trade.|
Trade currency. Default is USD.
|Leg Reference ID|
Trade leg identifier.Required on all CommData legs of a spread.
Certain fee updates may not be passed through. Broker fees will not be published on CME STP Trade Capture Reports resulting from the following post-trade allocations:
Allocations / Reassignment from a Customer Holding Account to an actual Customer Account
Although these post-trade activities may change the ownership of the trade, the Broker Fees will only be available to the original trade owner
FIXML Structure Rules
The order of elements is critical in FIXML so the new Broker fees element should always be in the following order:
- After RegTrdID and
- Before TrdRegTS
The new CommData element will be present in the RptSide messaging component.
Each CommData element will represent one Broker fee.
Outright Crude Oil Trade - No Legs
There are no LegRefIDs as this is an Outright.
- Basis (way fees are charged) is Per Unit.
- Per unit amount is $0.01.
- Unit is Barrel, as the CL is traded per barrel.
Line 20 in this Trade Capture Report message sample introduces the new CommData block:
Spread Natural Gas Trade - Multiple Legs
There are multiple LegRefID values as this is a Spread.
- Fee for each leg is $1 per contract.
- Basis (the way fees are charged) is Per Contract.
- Per contract amount is 1.00.
- Currency is USD
Lines 39-43 in this Trade Capture Report message sample introduces the new CommData block: