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  • Solicited order cancel
    • Cancel request is initiated by client system and cancel acknowledgment is expected result.
  • Unsolicited order cancel
    • Cancel acknowledgment sent at order expiration
    • Cancel on Disconnect (COD) – client system is registered for COD and hard disconnect cancels all orders
    • Cancel initiated by FirmSoft
    • Cancel initiated by GCC

 See Execution Report - Order Creation, Cancel, or Modify, tag 378-ExecRestatementReason for additional technical information.


If CME Global Command Center (GCC) cancels a trade, the client application receives an iLink 2 Execution Report - Trade Cancel containing the following information:


The following section presents the different steps composing the Request for Cross process. Note that the duration of each state is configurable and may be entirely skipped if configured to 0 seconds.


Step 1: Client system submits an iLink Quote Request message with the Side, signaling intent to next submit a cross order which establishes the Pre-Cross state.Pre-Cross State

Step 2: Upon receipt of the iLink Quote Acknowledgment message, the client system observes the designated waiting period where applicable and then sends a New Order Cross message with a specific Cross Type.

Pre-Cross State

Step 3: CME Globex broadcasts a Security Status message with the Security Trading Status indicating the Pre-Cross state to market participants.

Step 4: During the Pre-Cross state, orders can appear on the book that will match with the cross order during the Cross state.

Step 5; : After the configured Pre-Cross time period, CME Globex sends a Security Status message with the Security Trading Status indicating that the RFC state has changed to Cross.

Cross State

Step 6: CME Globex will broadcast market data associated with the RFC order and the order book will be updated.

Step 7: During the Cross state, other orders are allowed to match with the cross order and any remaining cross order quantity matches against itself at the Broker Match Guarantee percent.

Step 8: After a CME Globex configurable time period, a Security Status message is sent with the Security Trading Status indicating Resume (Normal) Trading state.

Resume Trading State