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BrokerTec US Repo Specials, General Collateral, and General Collateral Financed products have Workup enabled when trading on CME Globex.

All other BrokerTec products such as US Actives and US Curve Ration (RV) Spreads in BrokerTec US, along with all products traded on BrokerTec EU do not have Workup.

For additional information regarding Workup please refer to "BrokerTec on CME Globex Market Functionality" document under the Integration section of BrokerTec portal. support.brokertec.com

For BrokerTec US Repo Specials, General Collateral and General Collateral Financed products, customers can leverage a common workup ID to link each trade execution across CME Globex and through Clearing as follows:

  • iLink tag 820-TradeLinkID
  • CME STP and CME STP FIX tag 820-LinkID 

Summary

When multiple orders from different counterparties are matched during a workup, the Trade Confirmation Reports are sent with trade quantity aggregated for US Repos.

Use Case

Consider following Passive Order Book:

Globex Firm IDGlobex User SignatureSidePriceQuantity

GFID-1

GUS-1

Bid

0.01

50

GFID-2

GUS-1

Bid

0.01

50

GFID-1

GUS-1

Bid

0.01

100

GFID-1

GUS-2

Bid

0.01

200

Aggressor actions

GFID-3 Sell aggress for 50 starts Workup-Private Phase.

GFID-3 Sell aggresses for another 100 during the Workup-Private Phase 

GFID-4 Sell aggress for 250 during the Workup-Public Phase


CME STP aggregated Trade Capture Reports for BrokerTec US Repo Specials and General Collateral products

Passive side Trade Capture Reports

Globex Firm IDGlobex User SignatureSidePriceTrade Quantity

GFID-1

GUS-1

Bid

0.01

150

GFID-2

GUS-1

Bid

0.01

50

GFID-1

GUS-2

Bid

0.01

200

Aggressor side Trade Capture Reports

Globex Firm IDSidePriceTrade Quantity

GFID-3

Sell

0.01

150

GFID-4

Sell

0.01

250

CME STP aggregated Trade Capture Reports for BrokerTec US Repo General Collateral Financed (GCF) products

Passive side Trade Capture Reports

Globex Firm IDGlobex User SignatureSidePriceTrade Quantity

GFID-1

GUS-1

Bid

0.01

150

GFID-2

GUS-1

Bid

0.01

50

GFID-1

GUS-2

Bid

0.01

200

Aggressor side Trade Capture Reports

Globex Firm IDSidePriceTrade QuantityNotes

GFID-3

Sell

0.01

150


GFID-4

Sell

0.01

50


GFID-4

Sell

0.01

200


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