Clearing Processing for iLink Order Handling Flag “TAG 1031” - Effective November 17, 2019

Beginning on Sunday November 17th, effective for trade date Monday November 18, 2019, CME Globex will require that the Order Handling Tag (“Tag 1031”) be provided on all submitted orders, with one of six possible values as enumerated below. This is in conjunction with the Futures Industry Association’s “Execution Code Schema” initiative and is intended to improve the processing of brokerage charges by standardizing the set of allowable values and mandating that the appropriate value be provided when the order is submitted. FIA refers to this value as the “Execution Source Code” and it is also known as the Customer Order Handling Indicator, the Client Order Handling Indicator, or the Voice/Direct indicator. Previously, providing this value on the iLink order submission message was optional, and with the change, it will be required.

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