Drop Copy 4.0 is a risk management service designed to facilitate real-time monitoring of trading activity on the CME Globex platform. Drop Copy 4.0 sends carbon copies of iLink execution reports, heartbeats and acknowledgement, and trade bust messages for one or many source sessions through a FIX protocol-based messaging interface.
More information can be found online regarding certification, migration and availability in production.
No, the Drop Copy service is a read-only interface that does not allow a recipient to cancel or enter any orders on the CME Globex platform.
A customer-defined grouping of iLink sessions for which Drop Copy data will be consolidated.
An iLink order entry session ID which feeds into a Drop Copy group. A given iLink session can be a source session for more than one Drop Copy group (e.g., if both the trading firm and the clearing firm want to consume the drop copy data for the same trading activity).
A CME Group-determined FIX session over which the Drop Copy data is delivered. A single Drop Copy group may have multiple target sessions based on the configuration characteristics of the source sessions which feed the Drop Copy group.
The CGW target sessions will receive real-time messages from currently supported CGW source sessions.
MSGW target sessions will receive real-time messages from source sessions that are unique per market segment and session combination.
There is no limit to the number of iLink source sessions that can feed into a single Drop Copy group.
The number of Drop Copy target sessions required depends upon the distribution of the iLink source sessions across the CME Globex environment and the type of Drop Copy session. The number is based upon the number of iLink Gateways used by those sessions. As a result, all customers should architect their software to support multiple Drop Copy target sessions for a given convenience session Drop Copy group. MSGW Drop Copy Targets will only have one target session per DC Group.
The first Drop Copy group is free for each entity that has signed a CME Connection Agreement. Each subsequent Drop Copy Group costs $500/month. Clients control the number of Drop Copy groups; there is no limit to the number of source sessions assigned to a Drop Copy group.
Yes, the Drop Copy service will include order and fill data for all products traded on CME Globex. However, it does not distinguish order flow between exchanges on a given session ID.
Yes, a single iLink source session can be configured to feed into one or more Drop Copy groups and the target sessions related to those groups.
A FIX Resend Request should be used for retrieving less than 2500 most recent messages at a time.
FIX resend requests will be restricted to a 48 hour window which begins after the Sunday start-up. Messages requested as part of FIX resend request which fall outside of the 48 hour window will not be honored and the request will be rejected.
When you are ready to test, your Global Account Manager will provide you with a temporary Drop Copy target session configured to receive CME Group-generated order data in the New Release environment. The temporary Drop Copy target session will expire on a weekly basis and must be renewed through your Global Account Manager. Please allow 48 hours for all configuration work to be completed and notify your Global Account Manager of the dates and times you wish to test to ensure proper support resources are available.
For Drop Copy target sessions sequencing messages from convenience gateway source sessions the following will apply:
For Drop Copy target sessions sequencing messages from market segment gateway source sessions the following will apply:
Please contact your Global Account Manager when you are ready to certify for Drop Copy so a temporary AutoCert+ Drop Copy target session can be allocated to you for certification. Allow 48 hours for all configuration work to be completed. Once your certification is complete, the temporary AutoCert+ Drop Copy target session will be rescinded to facilitate certification by other Drop Copy customers.
To sign up for Drop Copy access in production, please complete the Customer Connection Agreement, Schedule 1 and Schedule 12 Drop Copy Service forms. To request access to New Release, please complete the Interface Development Agreement. All required documents can be found on www.cmegroup.com/globex/get-connected/customer-agreement.html. Firms that signed the Self-Service Agreement can create and manage their own drop copy group(s). Please contact your Global Account Manager for details.
All customers connected to CME Globex may request Drop Copy functionality, however the Clearing Firm responsible for the applicable iLink source session IDs must approve. Any application that wishes to use Drop Copy must certify for Drop Copy functionality. Firms with admin-control of their GFID do not need their Clearing Firm’s approval for creating/deleting/managing their drop copy group(s).
Please refer to Technology Partner Services Directory for a list of third-party software vendors who have certified for Drop Copy. For more information on Drop Copy, please contact your Global Account Manager.
Global Account Management (GAM)
Certification Support for Electronic Trading (CSET)
U.S.: +1 312 930 2322
Europe: +44 20 3379 3803
Asia: +65 6593 5593