• BrokerTec Markets on CME Globex Update - January 11, 2024

      • To
      • BrokerTec Clients
      • From
      • Global Market Solutions & Services (GMSS)
      • #
      • 20240111
      • Notice Date
      • 11 January 2024

    • 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

       

       

      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      • Delete any GUS IDs that are no longer active.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.

      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

      iLink 3 BrokerTec Schema Version 5 Decommission

      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

      Update - iLink 3 Mass Quote Cancellation Change

      † Denotes update to the article

      Effective Sunday, March 3 (trade date Monday, March 4), CME Globex will implement an enhancement to the iLink 3 Mass Quote Cancellation to BrokerTec EGB on CME Globex.

      With this change, CME Globex will reject any Quote Cancel All (tag 35-MsgType =Z and tag 298-QuoteCancelType=4) message from a MSGW session not permissioned to quote any product group for the MarketSegmentID on which Quote Cancel All request was initiated. The Quote Cancel Reject (tag 35-MsgType=b and tag 297-QuoteStatus=5) message will include tag 300-QuoteRejectReason=9 (Not authorized to quote security) and tag 58-Text=Quote rejected: Not authorized to quote any group. Currently, CME Globex does not respond back to a Quote Cancel All request from a MSGW session not permissioned to quote any product group.

      Market Segment ID Description Production Launch
      44 BrokerTec EGB March 3, 2024

      This change will be available for customer testing in New Release on †Thursday, January 18.

      Back to Top

      Product Launches

      BrokerTec Euro Short Term Rate (ESTR) Repos and General Collateral Baskets for European Supranational Bills and Bonds on CME Globex

      Effective Sunday, January 21(trade date Monday, January 22) the following BrokerTec European Short Term Rate Repos and General collateral (GC) baskets for European Supranational Bills and Bonds will be listed on CME Globex.

      NEW BROKERTEC EUROPEAN SHORT TERM RATE (ESTR) REPOS ON EURO SUPRAS
      PRODUCT MDP 3.0: TAG 6937-ASSET ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP MDP 3.0: TAG 1180-APPLID

      European Union ESTR Repo LCH SA Bills

      EUBSTA

      ESTS

      517
      EIB ESTR Special Repo LCH SA Bonds XSDSTA
      European Union ESTR Repo LCH SA Bonds EUDSTA
      KFW ESTR Special Repo LCH SA Bonds KFDSTA

       

      NEW BROKERTEC EUROPEAN SHORT TERM RATE (ESTR) GENERAL COLLATERAL (GC) BASKETS ON EURO SUPRAS
      PRODUCT MDP 3.0: TAG 6937-ASSET ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP MDP 3.0: TAG 1180-APPLID
      EIB GC ESTR XSGSTA

      ESGS

      517
      EU GC ESTR EUGSTA
      KFW GC ESTR KFGSTA

      These changes are now available for customer testing in New Release.

      Back to Top

      BrokerTec US Treasuries RV Butterfly Spreads

      Effective Sunday, January 28 (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

      New - Listing BrokerTec “Classic” Type Repos and GC Baskets for LCH SA Cleared Spanish Collateral on CME Globex

      Effective Sunday, March 3 (trade date Monday, March 4), the following new “Classic” Type Repos and GC Baskets for LCH SA Cleared Spanish Bills and Bonds will be listed on CME Globex. 

      Listing BrokerTec “Classic” Type LCH SA Cleared Spanish Repos
      PRODUCT MDP 3.0: TAG 6937-ASSET ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP MDP 3.0: TAG 1180-APPLID
      Spanish Euro CCP Classic Repo Bonds ESSCD EUSA 517
      Spanish Euro CCP Classic Repo Bills ESSCB

       

      LISTING BROKERTEC “CLASSIC” TYPE LCH SA CLEARED SPANISH 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
      SPAIN GC SA CLASSIC INCL LINKERS EGSCLI

      EUGA

      517
      SPAIN GC SA CLASSIC LETRAS ONLY EGSCLE
      SPAIN GC SA CLASSIC EGSCA
      SPAIN GC SA CLASSIC NO LETRAS EGSCNL
      SPAIN GC SA CLASSIC SUB 10YR EGSC10
      SPAIN GC SA CLASSIC NO LETRAS SUB 10YR EGSC1N
      SPAIN GC SA CLASSIC SUB 15Y LTR LNK EGSC15
      SPAIN GC SA CLASSIC SUB 20YR EGSC20
      SPAIN GC SA CLASSIC SUB 20YR NO LETRAS EGSC2N

      These repos and baskets will be made available for customer testing in New Release on Monday, January 22.

      Back to Top

      Product Changes

      New - Renaming BrokerTec Spanish GC Baskets

      Effective Sunday, March 3 (trade date Monday, March 4), the product name and long name for the Spanish GC Baskets will be renamed to include BSB (“Buy-Sell-Back”).

      RENAMING BROKERTEC LCH SA CLEARED SPANISH GC BASKETS
      CURRENT PRODUCT NAME NEW PRODUCT NAME CURRENT MDP 3.0 TAG 2714-FINANCIAL INSTRUMENT FULL NAME NEW CURRENT MDP 3.0 TAG 2714-FINANCIAL INSTRUMENT FULL NAME MDP 3.0: TAG 6937-ASSET ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP MDP 3.0: TAG 1180-APPLID
      SPAIN GC SA INCL LINKERS SPAIN GC SA BSB INCL LINKERS GC_SA_SPAIN_INCL_LINKERS GC_SA_BSB_SPAIN_INCL_LINKERS EGSALI EUBG 517
      SPAIN GC LETRAS ONLY SPAIN GC SA BSB LETRAS ONLY GC_SA _SPAIN_LETRAS_ONLY GC_SA_BSB_SPAIN_LETRAS_ONLY EGSALE
      SPAIN GC SA SPAIN GC SA BSB GC_SA_ SPAIN_NO_LINKERS GC_SA_BSB_SPAIN_NO_LINKERS EGCSA
      SPAIN GC SA NO LETRAS SPAIN GC SA BSB NO LETRAS GC_SA_SPAIN_NO_LTRA_NO_LNKR GC_SA_BSB_SPAIN_NO_LTRA_NO_LNKR EGSANL
      SPAIN GC SA SUB 10YR SPAIN GC SA BSB SUB 10YR GC_SA_SPAIN_SUB_10YR_NO_LINKERS GC_SA_BSB_SPAIN_SUB_10YR_NO_LINKERS EGSA10
      SPAIN GC SA NO LETRAS SUB 10YR SPAIN GC SA BSB NO LETRAS SUB 10YR GC_SA_SPAIN_SUB_10Y_NO_LTRA_NO_LNKR GC_SA_BSB_SPAIN_SUB_10Y_NO_LTRA_NO_LNKR EG10NL
      SPAIN GC SA SUB 15Y LTR  LNK SPAIN GC SA BSB SUB 15Y LTR LNK GC_SA_SPAIN_SUB_15Y_+_LTR_+_LNK GC_SA_BSB_SPAIN_SUB_15Y_+_LTR_+_LNK ES15LL
      SPAIN GC SA SUB 20YR SPAIN GC SA BSB SUB 20YR GC_SA_SPAIN_SUB_20YR_NO_LINKERS GC_SA_BSB_SPAIN_SUB_20YR_NO_LINKERS EGSA20
      SPAIN GC SA SUB 20YR NO LETRAS SPAIN GC SA BSB SUB 20YR NO LETRAS GC_SA_SPAIN_SUB_20Y_NO_LTRA_NO_LNKR GC_SA_BSB_SPAIN_SUB_20Y_NO_LTRA_NO_LNKR ES20NL

      These changes will be made available for customer testing in New Release on Monday, January 22.

      Back to Top

      New - Globex Symbol Format Change for BrokerTec US RV Curve Products

      Effective Sunday, March 3 (trade date Monday, March 4), the MDP 3.0 Security Definition tag 55=Symbol for the BrokerTec RV Curve products (Tag762- Strategy Type = RV)  will change to reflect the product code (tag 6937-Asset) and instrument GUID (37513-InstrumentGUID). Currently, MDP 3.0 Security Definition tag 55=Symbol for the BrokerTec RV Curves reflects spread leg:month/year-spread leg:month/year.

      Example:

      Product Code: UB2:07

      Current Format: UB02:1225-UB07:1230

      New Format:  UB2:07-KMETKNSODFVN

       

      This change will be made available for customer testing in New Release on Monday, February 5.

      Back to Top

      Front-End Clients

      Reminder: BrokerTec Global Front End Upgrade Client 11.2

      A new BrokerTec Global Front End (GFE) Client 11.2 software upgrade is available now. Firms that need to package the BrokerTec GFE Client for distribution can download and distribute version 11.2.

      Customers using BrokerTec Sync will automatically be upgraded to the latest version in early January.

      The software release includes:

      • US Treasuries Actives
        • Support for BrokerTec US Treasuries RV Butterfly Spreads
          • Traders will be able to access and trade the new BrokerTec UST RV Butterfly spreads via the GFE when the product launches in Q1 2024.
        • New display conventions for US Treasuries RV Curves and Butterfly Spreads
          • Traders will be able to customize market data display in the GFE to format yield difference in the RV instruments as:
            • Pick/Give (default)
            • Front leg yield minus back leg yield [for butterflies: wings minus body yield]
            • Back leg yield minus front leg yield [for butterflies: body minus wings yield]
      • Off the Run Treasuries
        • Consolidated Matching Window (CMW) enhancements
          • Traders will be able to paste orders from Excel in the CMW during matching sessions.
      • Technical Enhancements
        • BrokerTec GFE 11.2 release introduces support for iLink 3 schema V8. Decommission of the iLink 3 schema V5 used by prior versions of the GFE is scheduled for March 2024. Please upgrade to this latest version as soon as possible to prevent any interruption of service.

      For additional details, please see BrokerTec GFE Client 11.2 - What's New.

      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.

      Back to Top

      Post-Trade

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

      Effective Sunday, January 28 (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

      Announcements and Additional Resources

      Reminder: BrokerTec Market Support Legacy Contact Updates to be Decommissioned

      BrokerTec US and EU Market Support contact points integrated with the CME Global Command Center (GCC) in November 2023. Effective Sunday, January 21,the legacy BrokerTec US and EU contact points will be decommissioned. 

      Please Note the following:

      • The email addresses ms@btec.com and btec_eu@nex.com will be decommissioned. Emails sent to these addresses will not be delivered and customers will receive an "undeliverable" message. Note that emails sent to legacy addresses will no longer be forwarded to the GCC after January 21.
      • BrokerTec legacy phone numbers will be decommissioned. Customers calling legacy phone numbers will receive a "number not in service" message. Note that calls to these numbers will no longer be forwarded to the GCC after January 21.
        • BrokerTec Market Support phone queries should be made to the regional GCC numbers:
          U.S. at +1 800 438 8616
          Europe at +44 20 7623 4747
          Asia at +65 6532 5010 
          -selecting option 4 for EU markets and 5 for US markets 
          -or via email at gcc@cmegroup.com for all regions.

      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.