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The REST Order Entry API (OE API) is an easy-to-use service designed to meet the needs of clients trading non-latency-sensitive programmatic strategies. The REST OE API is an extended offering of CME Direct capabilities, CME Group's multi-venue front-end with access to CME Globex and CME ClearPort. REST OE API offers low-cost programmatic access to CME Globex leveraging CME Direct policies and procedures.

Currently, API access to CME Globex markets is available via the CME iLink FIX service. The REST OE API provides a complementary service, with API access to markets via RESTful Web Service APIs using JSON messaging.

The REST OE API is made up of three Web Services that support:

  • Order Management via CME Direct
    • Order Entry
    • Order Modifies
    • Order Cancel
  • User-Defined Spreads (UDS) creation
  • Query Status via CME Globex
    • Order Status, including cancelled orders
    • Trade Status

REST OE API supports order management for all futures, options and spreads listed on CME Globex, including User-Defined Spreads (UDS).

REST OE API is also fully functional with CME Direct and CME Direct Mobile, allowing users to switch between front-ends as needed, for instance:

  • Enter an order on REST OE API
  • Modify the order and check the status on CME Direct
  • Cancel the modified order via CME Direct Mobile


REST OE API cannot be used to act on or view orders submitted via CME iLink or iLink 3.


Onboarding and Entitlements

REST OE API is entitled via the CME Group Customer Center.

New users can get started on CME Direct now.

CME Group Login

Customers must create a CME Group Login profile and API ID(s) for self-management of profile and security information. After creating an ID, contact Enterprise Application & System Entitlements (EASE) to entitle the IDs for New Release, Certification and Production environments. API passwords managed through CME Group Login will expire annually.

Testing and Certification

Customers are required to certify in New Release before accessing the REST OE API in production. Contact Certification Support for Electronic Trading (CSET) for more information on testing and certification.

Product and Instrument Referential Data

REST OE API users can obtain the necessary product and instrument information from the CME Reference Data API.

Audit Trail Support

Orders submitted via the REST Order Entry API are captured in the CME Direct Audit Trail service. They are differentiated from CME Direct and CME Direct Mobile UI orders by the following fields:

Column

Value

Manual Order Identifier

CME Direct UIs = Y

CME OE API = N

Client Order ID

CME Direct UIs = numeric values only

CME OE API = alphanumeric values

Connectivity Modes

REST OE API supports HTTPS connections over the internet. 

User Authentication

REST OE API is a session-less service where clients must embed their exchange-assigned API key username and and password in the standard HTTP header of every message. Clients must use BASIC encoding for the username and password; represent the username and password pair with a separating colon (Username:Password), then convert the string to base64.

Credit and Risk Management Tools

Accounts for REST OE API must be created in CME Account Management Service by your FCM and enabled for CME Direct. API accounts will behave the same as registered UI accounts.

The following risk tools apply to REST OE API orders:

REST OE API orders are captured on Drop Copy feeds.

Request Throttles

Order Management, User-Defined Instrument and Query Status services are throttled as follows:

  • The Order Management and User-Defined Instrument APIs are limited to 10 calls per second for each API clientID.
  • The Order Management and Query Status API is limited to 50 total concurrent requests.
  • Any call that exceeds these limits will result in a Response Code 429.

Order Management API

The REST OE API - Order Management service supports order entry, modification and cancels on all CME Globex markets.

The URL /orders supports POST messages to enter new orders and create User Defined Spreads and Instruments on CME Globex markets, PUT messages to modify working orders and DELETE messages to cancel orders.

See: Order Entry API message specifications

Fill and Kill (FAK) and Fill or Kill (FOK) Order Duration Types

The REST OE API supports both Fill and Kill (FAK) and Fill or Kill (FOK) order duration types.

  • FAK orders will execute against resting liquidity up to the total order size. Any aggressing quantity not filled will be cancelled. If no resting liquidity is available, the entire FAK order will be cancelled.
  • FOK orders will execute against resting liquidity only if the entire order size can be filled; else the FOK order will be cancelled.

User-Defined Instruments and Spreads API

The REST OE API allows users to create real-time new markets on CME Globex for both User-Defined Instruments and User-Defined Spreads.

See: Order Entry API - Submit Instrument message specification

Query Status API

The REST OE API - Query Status service supports working and cancelled order status, and trade status. Trade status is available for all trades in the current week plus full prior week.

The URL /orders supports GET messages to retrieve working orders and cancelled orders.

The URL /trades supports GET messages to retrieve trade information.

Customers can query statuses using the following parameters:

  • Order Status by
    • Customer information, including application and account
    • Order status
    • Instrument
    • Customer order ID
  • Trade Status by
    • Customer information, including application and account
    • Trades that occurred during a particular time range
    • Instrument
    • CME Globex order ID
    • Customer order ID
    • Trade Status
    • CME Globex execution ID

See: Order Status API message specifications

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