• BrokerTec Markets on CME Globex Update: May 4, 2023

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      • BrokerTec Clients
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      • Global Market Solutions & Services (GMSS)
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      • 20230504
      • Notice Date
      • 04 May 2023
    • Topics in this issue include:

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

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

      Critical Information

      BrokerTec Global Front End (GFE) SSH Gateways Migration

      Following prior notification, new SSH gateways for BrokerTec GFE users are now available. Customers using the BrokerTec GFE SSH solution will have to migrate to the new SSH gateways. This entails a simple configuration change in the BrokerTec GFE to point the connection to the new gateways. For details, please see the 'BrokerTec GFE SSH Configuration' document on the BrokerTec Support Portal.

      As mentioned in February and March notifications, firms using the BrokerTec GFE SSH solution are encouraged to update network and firewall configuration to allow users to reach the following new public IP addresses:

      • Production:
      • Disaster Recovery:

      The current BrokerTec GFE SSH gateways will be decommissioned by mid-June 2023.

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      Derived Data Enhancement for BrokerTec U.S. Treasury Channel 215

      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:

      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

      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.

      Please Note: There is no impact to CME STP or CME STP FIX messages for BrokerTec Central Limit Order Book (CLOB) trades executed on CME Globex.

      These enhancements are backward compatible. However, due to the BrokerTec Stream 2.0 changes, any trades executed before the launch will not reflect the actual traded quantity on CME STP historical queries post launch. Clients are strongly encouraged to ensure they have accurately captured all BrokerTec Stream 1.5 trades by end of trading day Friday, June 2.

      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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      Front-End Clients

      New - BrokerTec Global Front End Upgrade Client 10.8 - Coming in Early June

      In early June, there will be a new BrokerTec Global Front End (GFE) Client 10.8 software upgrade. Firms that need to package the BrokerTec GFE Client for distribution can download and distribute version 10.8 when it is available.
      Customers using BrokerTec Sync will automatically be upgraded to the latest version.

      The software release includes:

      • BrokerTec Stream 2.0
        • Sweepable Matching - in addition to the existing Single Ticket market segment, BrokerTec GFE users can execute in the new BrokerTec Stream 2.0 Sweepable market segment via a UI toggle.
      • U.S. Treasuries
        • Tick Up/Down Live Orders - new "Move Up" and "Move Down" buttons added to "Book" tab in Log Book for traders to change US Treasury and RV Curve order prices in one tick increment.
        • A new "Yield" column is added to the Consolidated Matching Window for Off the Runs.
      • EU Repo
        • New Import Options in Bulk Order Manager (BOM) to support ESTR Repo instruments.
      • Security Enhancements
        • Support for Two-factor Authentication (2FA) and CME Group Federation Single Sign-On.

      For additional details, please see BrokerTec GFE Client 10.8 - What's New.

      Please note that BrokerTec GFE 10.8 is a 64-bit application. If using a 32-bit version of Microsoft Windows, please reach out to the CME Group Global Command Center (GCC) by May 31, 2023. 

      Any client inquiries for technical issues or Production support should be directed to the CME Group Global Command Center (GCC) in the U.S. +1 800 438 8616, in Europe at +44 20 7623 4747 or in Asia at +65 6532 5010.

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      Announcements and Additional Resources

      CME RNet Network for BrokerTec Stream 2.0 Connectivity

      A CME RNet network is now available in Secaucus (NY5) for BrokerTec customers wanting to connect to BrokerTec Stream 2.0 using an API. Connection to the new CME RNet network in Secaucus is via a local Equinix cross-connect or carrier circuit terminating in NY5.

      For questions, please contact Global Account Management.

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      New - BrokerTec U.S. Treasury Testing in New Release

      Starting Monday, May 8, CME Group will be conducting internal testing on BrokerTec U.S. Treasury and U.S. Treasury Repo instruments in the New Release environment. These tests will impact instrument availability for trading, pricing, maturity dates, and General Collateral (GC) eligibility. Clients should be aware they may see non-standard behavior in these instruments in the New Release environment for the duration of the tests. The testing is scheduled to end by June 9.

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      Update - BrokerTec 2023 Customer Disaster Recovery Exercises

      † Denotes update to the article

      † Following the successful BrokerTec U.S. exercise on April 22, CME Group is offering BrokerTec customers an opportunity to test with our BrokerTec EU disaster recovery systems on Saturday, May 20. 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.

      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.

      U.S. 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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      BrokerTec Stream 2.0 Upgrade

      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 starting at 9:00 a.m. CT
      • May 20 starting 9:00 a.m. CT
      • June 3 starting at 9:00 a.m. CT

      Please Note: After the June 3 mock date, customers will keep their changes in Production for the launch.

      Customers can contact their account executive in advance to participate.

      Please review the mock trading script for additional details.

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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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