CME Globex Consolidated Fills Testing Beginning October 22nd

CME Group will launch CME Globex Consolidated iLink Fills in four phases beginning February 3, 2019. In preparation for the launch, CME Group will offer firms the opportunity to test the enhancement in New Release beginning Monday, October 22, 2018.

As a reminder, currently in a Globex matching event, when an aggressor order matches with multiple resting orders, CME Globex sends execution reports to the aggressor for each individual resting order. This results in large number of unnecessary messages transmitted to trading and clearing firms. With this launch, CME Globex will consolidate aggressor Fill Execution Reports to reduce the number of iLink Execution Report - Fill messages. Resting order fills can also be consolidated in non-FIFO markets and when Display Quantity orders are used. With consolidation, CME Globex will consolidate fill message which will reduce the number of confirm messages to trading and clearing firms. 

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