• BrokerTec Markets on CME Globex Update - November 30, 2023

      • To
      • BrokerTec Clients
      • From
      • Global Market Solutions & Services (GMSS)
      • #
      • 20231130
      • Notice Date
      • 30 November 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 System Information

       

      BrokerTec Algorithmic Trading Systems Annual Recertification

      As a reminder, all BrokerTec EU customers are required to self-certify annually their Algorithmic trading systems per the Markets in Financial Instruments Directive - MiFID II CDR EU 2017/584 (RTS 7). If you have not completed re-certification, please do so by Sunday, December 31.

      To complete the self-certification process, BrokerTec Front Office Managers must review and confirm all Algorithmic Trading systems registered in the CME Customer Center via Request Center > BrokerTec Requests > Algorithmic Trading, then update the Certification Date and attach the updated or new certification form for all registered Algos.

      BrokerTec EU requires its participants to complete the Annual Certification Form.

      For more information on completing the Annual Algorithmic System Certification and managing Algos, please refer to the CME Customer Center User Help.

      For support and questions regarding functionality, please contact Global Account Management.

      Back to Top

      Increased Mass Quote Messaging Capacity

      Effective Sunday, January 7, 2024 (trade date Monday, January 8), customers will be able to quote and quote cancel up to 375 messages per second (MPS). Currently, customers can quote or quote cancel a maximum of 350 MPS.

      This change  is currently available for customer testing in New Release.    

      More information about Mass Quote Messaging Thresholds is available in the Client Systems Wiki.

      Back to Top

      Globex User Signature (GUS) ID Maintenance

      As a reminder, all Front Office Admin Managers of BrokerTec (BTEC) participants are responsible for updating their firm’s Globex User Signature (GUS) IDs and to ensure that BTEC has the correct contact and identity information associated with those IDs. GUS IDs should be periodically reviewed, updated and/or deleted if considered inactive. Front Office Admin Managers must take the following action on GUS information from the Request Center:

      • Update the following information for the individual or team lead assigned to the active GUS IDs under their Globex Firm IDs (GFIDs): first and last name, email, phone number/type, country, address, and town/city.
      • Delete any GUS IDs that are no longer active. 

      Please review all GUS IDs associated with your Firm IDs as soon as possible but no later than February 29, 2024.

      Please note: Before deleting any GUS(s), make sure they are not in use as deleting them will prevent order placement. Contact Global Account Management at globalaccountmanagement@cmegroup.com who will provide information regarding the Front Office Admin Managers and any system support required to make the changes. If you have compliance questions contact US Compliance at uscashmarketscompliance@cmegroup.com.

      Back to Top

      Update - iLink 3 BrokerTec Schema Version 5 Decommission

      † Denotes update to the article

      Starting in  March 2024, BrokerTec on CME Globex will no longer accept iLink 3 schema version 5 messages in the Production environment.

      Version 8 of iLink 3 for BrokerTec launched in February 2023.

      iLink 3 BrokerTec Schema Version 5 Decommission
      Market Segment ID Description New Release Decommission Production Decommission
      16 BTEC EU Order Entry Service Gateway Available March 2024
      44 BrokerTec EGB
      46 BrokerTec EU Repo
      14 BTEC US Order Entry Service Gateway
      40 BrokerTec US Treasury Actives
      42 BrokerTec US Repo and TBAs

      †Effective with this change, BrokerTec GFE 11.1.0.34+ will be required for access in the New Release environment.

      Back to Top

      Product Launches

       

      BrokerTec EUROGC+ ITALY General Collateral Baskets on CME Globex

      Effective Sunday, December 10 (trade date Monday, December 11), the following BrokerTec EUROGC+ ITALY General collateral (GC) basket will be listed on CME Globex.

      BROKERTEC EUROGC+ ITALY GENERAL COLLATERAL (GC) BASKETS
      PRODUCT MDP 3.0: TAG 6937-ASSET ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP MDP 3.0: TAG 1180-APPLID
      EUROGC+ ITALY EGIT EURG 517

      This change is available for customer testing in New Release.

      Back to Top

      New - BrokerTec EUROGC+ GOVSSA and ITALY Minimum Size Baskets on CME Globex

      Effective Sunday, December 10 (trade date Monday, December 11), the following BrokerTec EUROGC+ GOVSSA and ITALY Minimum Size General collateral (GC) baskets will be listed on CME Globex.

      BROKERTEC EUROGC+ GOVSSA AND ITALY MINIMUM SIZE BASKETS
      PRODUCT MDP 3.0: TAG 6937-ASSET ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP MDP 3.0: TAG 1180-APPLID
      EUROGC + ITALY MIN SIZE 25MM EGIT25 EURG 517
      EUROGC + ITALY MIN SIZE 50MM EGIT50 EURG 517
      EUROGC + ITALY MIN SIZE 75MM EGIT75 EURG 517
      EUROGC + ITALY MIN SIZE 100MM EGI100 EURG 517
      EUROGC + GOVSSA MIN SIZE 25MM EGSS25 EURG 517
      EUROGC + GOVSSA MIN SIZE 50MM EGSS50 EURG 517
      EUROGC + GOVSSA MIN SIZE 75MM EGSS75 EURG 517
      EUROGC + GOVSSA MIN SIZE 100MM EGS100 EURG 517

      This change will be available for customer testing in New Release on Monday, December 4.

      Back to Top

      Update - BrokerTec US Treasuries RV Butterfly Spreads

      † Denotes update to the article

      Effective Sunday, January 28, 2024 (trade date Monday, January 29) new exchange-defined BrokerTec US Treasuries RV Butterfly spreads will be made available for trading on CME Globex.  BrokerTec US Treasuries RV Butterfly spreads will utilize a new strategy type (RB). BrokerTec US Treasuries RV Butterfly spreads will allow customers to trade between three US Treasury Actives at different points on the yield curve in a single transaction to eliminate legging risk and allow more efficient execution.

      Similar to RV Curve spreads, the RV Butterfly spreads will trade at yield differentials in a +1:-2:+1 convention; and prices will be inverted as in a typical yield market. These spreads will have predefined DV01-neutral leg ratios.

      Please review the †Client Impact Assessment for detailed spread construction and pricing examples.

      These changes are currently available for customer testing in the New Release.

      Back to Top

      Product Changes

      New - Change to BrokerTec US RV Curve Contract Leg Ratios

      Effective Sunday, December 3 (trade date Monday, December 4), the BrokerTec RV Curve contract leg ratios will be amended as follows.

      CHANGE TO BROKERTEC US RV CURVE CONTRACT RATIOS
      PRODUCT SYMBOL CURRENT LONG NAME NEW LONG NAME
      UST 2YR vs 5YR RV Curve UB2:05 2Y/5Y 7:3 
      Ratio - 7:3      		 2Y/5Y 5:2 
      Ratio – 5:2
      UST 2YR vs 10YR RV Curve UB2:10 2Y/10Y 4:1
      Ratio – 4:1      		 2Y/10Y 9:2
      Ratio – 9:2
      UST 2YR vs 20YR RV Curve UB2:20 2Y/20Y 6:1 
      Ratio – 6:1      		 2Y/20Y 7:1 
      Ratio – 7:1
      UST 3YR vs 20YR RV Curve UB3:20 3Y/20Y 4:1 
      Ratio – 4:1      		 3Y/20Y 9:2 
      Ratio – 9:2
      UST 3YR vs 30YR RV Curve UB3:30 3Y/30Y 5:1 
      Ratio – 5:1      		 3Y/30Y 6:1 
      Ratio – 6:1
      UST 5YR vs 10YR RV Curve UB5:10 5Y/10Y 5:3 
      Ratio – 5:3      		 5Y/10Y 2:1 
      Ratio – 2:1
      UST 5YR vs 20YR RV Curve UB5:20 5Y/20Y 5:2 
      Ratio – 5:2      		 5Y/20Y 3:1 
      Ratio – 3:1
      UST 5YR vs 30YR RV Curve UB5:30 5Y/30Y 3:1 
      Ratio – 3:1      		 5Y/30Y 4:1 
      Ratio – 4:1
      UST 7YR vs 10YR RV Curve UB7:10 7Y/10Y 5:4 
      Ratio – 5:4      		 7Y/10Y 4:3 
      Ratio – 4:3
      UST 7YR vs 30YR RV Curve UB7:30 7Y/30Y 5:2 
      Ratio – 5:2      		 7Y/30Y 3:1 
      Ratio – 3:1
      UST 20YR vs 30YR RV Curve UB20:30 20Y/30Y 5:4 
      Ratio – 5:4      		 20Y/30Y 4:3 
      Ratio – 4:3

      This change will be available for customer testing in New Release on Thursday, November 30.

      Back to Top

      Post-Trade

      Support for BrokerTec US Treasuries RV Butterfly Spreads in CME STP FIX and FIXML

      Effective Sunday, January 28, 2024 (trade date Monday, January 29), new exchange-defined BrokerTec US Treasuries RV Butterfly spreads will be made available for trading on CME Globex.

      Trade capture reports for trades of BrokerTec RV Butterfly spread will be denoted with a new security sub type "RB" (FIX : tag 762-SecuritySubTyp=RB) (FIXML : /TrdCaptRpt/Instrmt/@SubTyp="RB")

      This spread is currently available for customer testing in New Release.

      Back to Top

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2025 CME Group Inc. All rights reserved.