For the latest roadmap of CME Group technology initiatives:
See the Development Launch Schedule.
Additional Resources:
- 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
Upcoming Change to Risk Management System Designated Person Form Process - Q4 2024
In Q4 2024, the current nominated Risk Management System Designated Person (DP) for each BrokerTec participant will be migrated to BrokerTec Risk Management System users. This migration will happen automatically so long as each Risk DP has a valid CME Group Login that matches the email address on file in Service Cloud DP.
Each BrokerTec participant is recommended to:
- Review and update its current listing of Risk DPs as required
- Ensure that each Risk DP has a valid CME Group Login
For questions on how to make changes, information regarding the authorized persons or middle office managers for your firm, or any system support, contact CME Global Account Management.
New Process - Expected in Q4 2024
Starting in Q4 2024, BrokerTec will stop onboarding new Risk DPs. New users appointed by the firm’s Middle Office Managers will be onboarded as BrokerTec Risk Management System users and given BrokerTec risk system entitlements. The BrokerTec Risk Managers will be onboarded via this form.
The form must be submitted by a Middle Office Admin Manager who oversees the GFIDs they are requesting. If the firm does not have a Middle Office Manager, the firm will need to work with CME Global Account Management to have one set up by filling out the Self-Service form in Service Cloud.
Current Process
When a BrokerTec participant seeks to nominate a new Risk DP, an existing Risk DP for the participant must complete this form. In the event an existing Risk DP is no longer with the firm, an authorized person of the firm may contact EASE directly rather than completing the form.
When nominating a new Risk DP, only a written request by an authorized person of the firm is considered. As a reminder, BrokerTec participants should keep their Risk DPs current and should make any changes as soon as possible to avoid any delays in trading activity.
When nominating a new Risk DP, only a written request by an authorized person of the firm is considered. As a reminder, BrokerTec participants should keep their Risk DPs current and should make any changes as soon as possible to avoid any delays in trading activity.
If you have compliance questions contact U.S. Compliance.
BrokerTec U.S. Repo Managed Order Enrichment - December 15
Effective Sunday, December 15 (trade date Monday, December 16), BrokerTec on CME Globex will introduce the new Top of Stack (TOS) priority feature for U.S. Repo instruments. TOS prioritizes the passive managed order of the TOS owner based on the pre-defined TOS requirements.
More details on the TOS functionality are now available in the client impact assessment.
With this launch, BrokerTec U.S. Repo clients can receive the Unsolicited Modify message in a scenario when the passive managed order (i.e. tag 6881-ManagedOrder=1) is reprioritized with quantity adjustment. See Unsolicited Modify Acknowledgment Messages for more information on this type of order modification. Currently, iLink tag 6881 is for internal use only.
The new TOS for products subject to this change are currently available for customer testing in New Release.
Reminder: Notification Required for Changes in MPID or Registration Status
BrokerTec Americas has an obligation to report U.S. Treasury transactions to FINRA's Trade Reporting and Compliance Engine (TRACE). Each report must identify the parties to the transaction using a FINRA assigned Market Participant Identifier (MPID).
As a reminder, participants must notify BrokerTec of their change in entity type, regulatory status, and any changes to MPIDs as soon as possible, if not prior to the change, to ensure complete and accurate trade reporting.
For more information, view the TRACE FAQ.
If you have any questions please contact USCashMarketsCompliance@cmegroup.com.
BrokerTec GTC-GTD Order Qualifiers and Pre-Open Change - January 12, 2025
Effective January 12, 2025 (trade date Monday, January 13), two new order qualifiers will be supported for BrokerTec U.S. Treasury Actives:
Please review the client impact assessment for more messaging, and functionality information.
The new BrokerTec GTC-GTD Order Qualifiers is currently available for customer testing in New Release.
BrokerTec U.S. Treasury Actives Pre-Open Change
With the release, client systems will see their open orders resting on the book after the close and available for trading after the market open. To accommodate the order maintenance, the Pre-open timing on Sundays for the BrokerTec U.S. Treasury Actives will be expanded from 15 minutes to one hour.
UpdateBrokerTec MDP 3.0 SBE Schema Update - February 2, 2025
† Denotes update to the article
To support future enhancements for BrokerTec markets on CME Globex, including BrokenDates fields, the MDP 3.0 SBE core schema will be updated to version 13 starting Sunday, February 2, 2025 (trade date Monday, February 3), and conclude Sunday, March 16 (trade date Monday, March 17). The new fields are for future use and will not be populated with the schema launch. More information regarding these enhancements will be published in a future BrokerTec Markets on CME Globex Notice.
All BrokerTec channels on CME Globex are currently utilizing core schema version 11. To ease customer development efforts, the new SBE schema files will support template extension for MDP 3.0 messages. For client systems that do not support template extension, the schema update is not backward compatible, and the MDP 3.0 messages sent from CME Globex cannot be decoded.
† CME Group strongly advises to test the readiness of client applications in advance of the schema upgrade in the NR environment.
Please review the client impact assessment for full technical details and launch schedule.
Announcements and Additional Resources
NewUpdate to GCC Targeted Messaging System - November 24
Please be advised that as of Sunday, November 24, the “from” address on GCC Targeted messages sent by the CME Global Command Center (GCC) will change. Emails will continue to display the name CME Global Command Center, but the new "from" address will be: cmegroup@cme.xmatters.com. This is a no-reply address. The GCC contact email address remains the same: gcc@cmegroup.com.
While there is no action required from customers, we do encourage you to ensure the new address is set to be a trusted address.
If you have any questions, please contact the CME Global Command Center in the U.S. at +1 800 438 8616, in Europe at +44 20 7623 4747, in Asia at +65 6532 5010, or in Japan at +81 3 6733 7559 or via email at gcc@cmegroup.com.
NewBrokerTec Algorithmic Trading Systems Annual Recertification - December 31
Algorithmic trading participants of the BrokerTec EU RM and the BrokerTec EU MTF are required to certify that the algorithms they deploy have been tested to avoid contributing to or creating disorderly trading conditions, as well as explain the means used for that testing. Testing must have been performed prior to the initial deployment of the algorithm or prior to any substantial update or change of trading algorithm or trading strategy.
The BrokerTec EU RM and the BrokerTec EU MTF require its participants to complete this form at least on an annual basis.
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.
The BrokerTec EU RM and BrokerTec EU MTF, operated by CME Amsterdam B.V. and BrokerTec Europe Limited respectively, require its participants to complete the Annual Certification Form, by December 31.
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.
