BrokerTec Markets on CME Globex Update: April 6, 2023

Critical Information

BrokerTec Reporting Availability

As a reminder, BrokerTec reports on CME Globex are distributed through either the Enterprise Reporting Portal (EREP) or CME SFTP.

Enterprise Reporting (EREP) is a browser-based tool that enables firm users to search, view, and print or download CME Group pre-processed reports. Users may save any report listed on EREP to file, zip, or PDF. This feature offers customers the flexibility to review and reconcile reports in various formats and is typically the tool used for most traders to view and download their daily reports.

Secure File Transfer Protocol (SFTP) is a network transmission protocol that uses a Secure Shell (SSH) connection and public / private key pair to authenticate access prior to sending and receiving files over a secure connection.  SFTP is typically used for firms to set up a centralized, systematic method for receiving reports into their systems.

The Back Office Admin Manager will authorize an authority figure to manage the SFTP Folder. This person will have the responsibility for managing SFTP IDs and granting permission to additional individuals to create and manage SFTP IDs. 

To access to BrokerTec reports, report recipients should take the following actions:

• Obtain a CME Group Login
• Request access to EREP and/or SFTP through their firm's Back Office Admin Manager

Admin Managers should complete and submit BrokerTec EREP and SFTP Report Registration Form(s) as needed. When submitting these forms, each user will need to specify the roles or categories of reports for which they need access:

• Enterprise Reporting (EREP) Production Registration Form
• Secure File Transfer Protocol (SFTP) Production Registration Form
• BrokerTec Billing Group Production Registration Form

For a summary of the reports and applicable report access roles, see BrokerTec Reporting. 

If you do not know your designated Admin Manager, please reach out to Global Account Management.

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Derived Data Enhancement for BrokerTec U.S. Treasury
Channel 215 - May 21

Effective Sunday, May 21, CME Group will support implied prices for RV Curve instruments and a new Simple Binary Encoding (SBE) schema on the derived data channel 215 - BrokerTec U.S. Treasuries.  This launch will not impact the BrokerTec on CME Globex market data channels. 

The schema update will impact all client systems connecting to channel 215. The impacted services are as follows:

• BrokerTec U.S. Treasury Market Data - Multicast
• BrokerTec U.S. Treasury Market Data - GCP

Please review the Client Impact Assessment for full technical details and launch schedule.

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Support for BrokerTec Stream 2.0 Trades on CME STP and
CME STP FIX - June 4

Effective Sunday, June 4 (trade date Monday, June 5), CME STP will launch support for BrokerTec Stream 2.0, the new relationship-based trading platform for U.S. Treasuries.

With this launch, there will be enhancements to CME STP and STP FIX Trade Capture Reports and Party Roles for BrokerTec Stream 2.0 trades. Full details and the updated FIX dictionary can be found in CME STP BrokerTec Stream v2.0 Client Impact Assessment.

These enhancements are backward compatible.

These enhancements are currently available for customer testing in New Release.

Customers are encouraged to test their CME STP and/or CME STP FIX processes in New Release.

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Announcements and Additional Resources

NewNew - Internal Testing Reminder

As a reminder, CME Group internal testing in the Production environment can occur during the weekend. Any trades or market data generated during these tests should be disregarded.

Clients can connect to CME Globex services beginning at 10:30 a.m. Central Time (CT) Sundays to prepare for weekly start-up. Clients should ensure all services are disconnected by 5:00 p.m. CT Fridays to avoid receiving internal test data.

CME Group Trading and Clearing Hours are also available on the CME Group website.

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Manage BrokerTec Notices in Subscription Center

Please be aware that customers can now subscribe to and manage email preferences for the ‘BrokerTec Markets on CME Globex Update’ notices via the Subscription Center, a self-serve online resource for managing email communications from CME Group. A CME Group Login is required to access the Subscription Center. Current recipients of the bi-weekly ‘BrokerTec Markets on CME Globex Update’ require no action to continue receiving these notices.

The ‘BrokerTec Markets on CME Globex Update’ is currently sent bi-weekly at 9 a.m. Central Time (CT) Thursdays and includes critical information, announcements, and resources required for customers to support BrokerTec markets on CME Globex.

Learn how to Subscribe to 'BrokerTec Markets on CME Globex Updates'. 

Versions of BrokerTec notices dated March 23, 2023 and onward are also available from the Notice Archive page.

Historical BrokerTec notices dated July 2019 through March 9, 2023, are available from the BrokerTec Support Portal, which requires a separate login.

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Holiday Schedule Reminder: Good Friday and Easter Monday 2023

The Good Friday and Easter Monday holidays this year are Friday, April 7 and Monday, April 10. BrokerTec on CME Globex clients will observe the following impacts:

• All BrokerTec EU & UK markets will be closed for trading and settlement on
  Friday, April 7 and Monday, April 10.
• BrokerTec U.S. Treasury Actives and RV Curves will be available for trading from 7:00 a.m. to 12:00 p.m. Eastern Time (ET), but not for settlement on
  Friday, April 7.
• BrokerTec U.S. Repos will not be listed on Friday, April 7.

CME STP and CME STP FIX will reflect the correct Settlement Dates for all trades in the Trade Capture Reports, FIXML attribute SettlDt or FIX tag 64-SettlDate.

Holiday Trade Date-Settlement Date Examples

Applies to BrokerTec U.S. Treasury Actives and RV Curve spreads only.

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BrokerTec 2023 Customer Disaster Recovery Exercises

CME Group is offering BrokerTec customers two opportunities to test with our BrokerTec disaster recovery systems. To help ensure readiness and provide an opportunity for you to test your connectivity to and ability to transact via our DR systems, customers are strongly encouraged to sign up and test with us on the following dates:

• BrokerTec U.S. - April 22, 2023
• BrokerTec EU - May 20, 2023

Similar to last year’s event, these Spring exercises provide customers with a chance to test their Production connectivity to the BrokerTec DR engines and customer gateways.

US customers who participated in the October 2022 SIFMA exercise also are encouraged toregister and participate in the DR exercises, as there are very important differences between SIFMA and our Spring failovers. During SIFMA, customers either test their DR or Production connectivity to BrokerTec’s Production engines and gateways, which use DR back-end systems.

In April and May, the reverse is true, and this is the annual opportunity to test your Production connectivity to our DR markets.

To participate in the disaster recovery exercise, register here.

View the mock trading script.

Please contact operationalresilience@cmegroup.com with any questions.

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NewNew - BrokerTec Stream 2.0 Upgrade - June 4

Effective Sunday, June 4 (trade date Monday, June 5), CME Group will upgrade the BrokerTec Stream platform from version 1.5 to 2.0. BrokerTec Stream 2.0 is designed to deliver the best performance and lowest possible latency for our clients.

BrokerTec Stream 2.0 has new enhancements including:

• Sweepable matching
• Firm price improvements
• FIX 4.4-compliant APIs for Makers and Takers
• Front-end access via BrokerTec Global Front End (GFE) Client

This launch paves the way for future enhancements including netted credit across BrokerTec Stream and BrokerTec Markets on CME Globex.

Clients should have already received the Taker and Maker API rules of engagement documentation that outline the technical changes as well as the BrokerTec GFE Configuration for New Release environment. These are also available on the BrokerTec Support Portal.

API clients must complete conformance testing and certification. CME STP does not require conformance testing and certification for this launch.

Clients are strongly encouraged to test this upgrade in the New Release environment. Please contact Certification Support for Electronic Trading (CSET) at +1 312 930 2322 in the US, +44 20 3379 3803 in Europe, or +65 6593 5593 in Asia for assistance.

Mock Trading Sessions
CME Group is also offering BrokerTec customers three opportunities for mock testing for API clients in Production. To help ensure readiness and provide an opportunity to transact via our Production systems, customers are strongly encouraged to sign up and test with us on the following dates:

• May 13
• May 20
• June 3

Customers can contact their account executive in advance to participate.

Please review the mock trading script for additional details.

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