BrokerTec Markets on CME Globex Update: March 21, 2024

Topics in this issue include:

• CRITICAL SYSTEM INFORMATION
  • iLink 3 BrokerTec Schema Version 5 Decommission - April 14
  • Increased Mass Quote Messaging Reject Threshold - April 21
  • iLink 3 BrokerTec US Duplicate Order Validation Change - May 19  Update
  • iLink 3 Party Details Harmonization - May 19
• FRONT-END CLIENTS
  • BrokerTec Global Front End Upgrade Client 11.3 - April 2 New
  • BrokerTec Global Front End - CME Globex New Release (NR) Network Requirement Change - April 24 New
• ANNOUNCEMENTS AND ADDITIONAL RESOURCES
  • BrokerTec and EBS Customer Disaster Recovery Exercises - July 27

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

iLink 3 BrokerTec Schema Version 5 Decommission

Starting Sunday, April 14, BrokerTec on CME Globex will no longer accept iLink 3 schema version 5 messages in the Production environment. Client systems can only send version 8 messages.

Version 8 of iLink 3 for BrokerTec launched in February 2023. The new version 8 schema is currently available for download via the CME SFTP site. More details on the SFTP site is available on Schema Distribution.

Effective with this change, BrokerTec GFE 11.2+ will be required for access in the Production environment.

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Increased Mass Quote Messaging Reject Threshold

Effective Sunday, April 21 (trade date Monday, April 22), customers will be able to quote and quote cancel up to 400 messages per second (MPS). Currently, customers can quote or quote cancel a maximum of 375 MPS.

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

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

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Update - iLink 3 BrokerTec US Duplicate Order Validation Change

† Denotes update to the article

† Effective Sunday, May 19 (trade date Monday, May 20), CME Globex will implement an enhancement to the iLink 3 Duplicate Order Validation to BrokerTec US on CME Globex.

With this change, if a violation has occurred, any subsequent duplicate messages will continue to be rejected until after a full time interval has passed without any new duplicate messages having been received. 

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

More information about the current Duplicate Order Validation functionality is available in the Client Systems Wiki.

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iLink 3 Party Details Harmonization

Effective Sunday, May 19 (trade date Monday, May 20), CME Group will implement the iLink 3 messaging changes to Pre-Registered administrative information to be consistent with the On-Demand administrative information. These changes will also bring the front-end messaging into alignment with the back-office feeds and simplify the reconciliation process.

Field Capitalization

CME Globex will capitalize tag 1691-PartyDetaiID values on the following Party Detail Roles on the Pre-Registered Party Detail Definition Request Acknowledgment messages sent from Order Entry Service Gateway to Client System. Client systems are not required to send capitalized values to CME Globex, but capitalized values will always be returned.

Field Truncation

CME Group will truncate tag 1691-PartyDetaiID values on the following Party Detail Roles on the Pre-Registered Party Details Definition Request Acknowledgment messages sent from Order Entry Service Gateway to Client System. If this tag values submitted on the Party Details Definition Request message exceeds the required length, iLink 3 will return a truncated required length from the right on the response.

*These fields are optional for BrokerTec products.

These changes are only applicable to the Pre-Registered administrative information. There is no change to the On-Demand Party Detail Definition Request Acknowledgment (tag 35=CY) messages sent from Market Segment Gateway to Client System.

More detailed information on Party Details is available in iLink 3 Party Details Definition Messaging.

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

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Front-End Clients

New - BrokerTec Global Front End Upgrade Client 11.3

On Tuesday, April 2, a new BrokerTec Global Front End (GFE) Client 11.3 software upgrade will be available. Firms that need to package the BrokerTec GFE Client for distribution can download and distribute version 11.3 once it is available.

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

The software release includes:

• EU Repo
  • Bulk Order Manager Import Options for Spanish Classic Repos
    
    • Traders can use the new Import options to enter positions in the newly introduced LCH SA cleared Classic Spanish Repo market.
  • Tick Up/Down Live Order(s)
    • New "Move Up" and "Move Down" buttons are added to the "Book" tab in Log Book for traders to change EU Repo order rates in one tick increment.  
      
• US & EU Repo
  • Enhanced and additional Self-Match Prevention warnings for Bulk Order Manager orders
    • Individual warning pop ups will be displayed when BOM orders are removed due to Self-Match Prevention (SMP).
    • Enhanced messages will be available in the Bulk Order Manager Error section as well as in the Market Messages tab of the Log Book Window.
• Technical Enhancements
  • Support for BackEnd Trading Services for BrokerTec US CLOB markets
    • BrokerTec GFE 11.3 introduces support for the BackEnd Trading Services (BETS) platform, a Google Cloud native solution providing a new connectivity option to BrokerTec US markets via secure web APIs. Further details are available in the What's New document linked below.
  • BrokerTec Stream login
    • Users will no longer be required to enter a separate password to login into BrokerTec Stream.
  • STP Timestamp
    • A new column "STP Timestamp" is available in the Clearing Trades window. This column contains the full timestamp of the trade as reported by STP, down to the nanosecond for BrokerTec CLOB products.

For additional details, please see BrokerTec GFE Client 11.3 - 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.

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New - BrokerTec Global Front End - CME Globex New Release (NR) Network Requirement Change

Effective Wednesday, April 24, the port range that is required to be opened for connectivity to the BrokerTec Global Front End client for testing in the CME Globex New Release (NR) environment will change. New NR accounts created after Friday, March 22, will be required to use the new port range to connect immediately:

This change affects only New Release connectivity. No change is required for BrokerTec GFE Production connectivity.

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Announcements and Additional Resources

BrokerTec and EBS Customer Disaster Recovery Exercises

CME Group strongly encourages all EBS and BrokerTec customers to register to test with our disaster recovery systems, to help ensure readiness and test your ability to transact via our DR systems.

• Saturday, July 27 - US and Europe Markets (BrokerTec & EBS)

If you are interested in participating in our upcoming Disaster Recovery (DR) Mock Trading Session, please register your interest by completing the following form:

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