Page tree
Skip to end of metadata
Go to start of metadata

CME Globex allows firms to submit orders on behalf of clients or other clearing member firms for whom the submitting firm is authorized to transact.

Firm ID and Order Submission

A client system can negotiate and establish a session with one Firm ID and populate tag 1691-PartyDetailD with a different Firm ID to submit the order. This is only allowed if both firms are associated with the same session.

Firm Trading for Itself

A firm submitting an order for itself must populate tag 1691-PartyDetailID with the value assigned by CME Group to the firm as an identifier of its own business.

Firm Trading on Behalf of a Clearing Member Firm

For an authorized firm to submit an order for a clearing member firm (Affiliate, Sub-Accounting, or Cross-Margin firm number), the submitting firm must populate tag 1691-PartyDetailID with the value assigned by CME Group to the clearing member firm on whose behalf the order is submitted.

Firm Trading for a Non-Clearing Member Firm

For the firm to submit an order for a client that is not a clearing member, the submitting firm can populate tag 582-CustOrderCapacity and tag 1816-ClearingAccountType as described in the iLink 3 Party Details Definition Request message layout.

Example

The following example demonstrates how firm 999 can submit orders for:

  • itself (firm 999)
  • another clearing member firm (e.g. firm 998)
  • for a non-clearing member firm client

Order Entry Scenario

Supporting iLink Tag Values

Firm Submitting Order

Tag 1691-PartyDetailID = 999

Firm Submitting Order for another Clearing Firm

Tag 1691-PartyDetailID = 998

Firm Submitting Order for Client

  • Tag 1691-PartyDetailID = 999
  • Tag 1816-ClearingAccountType = 0 (Customer)
  • Tag 582-CustOrderCapacity = 3 (Member trading for another member)