• EBS Market Integration Notice

      • To
      • EBS Customers
      • From
      • Global Markets Solutions and Serivces
      • #
      • 20210909
      • Notice Date
      • 09 September 2021

    • EBS Market Integration onto CME Globex

      Subject to applicable regulatory approvals, EBS Market's Central Limit Order Book and eFix Matching Service will launch on CME Globex. You will receive subsequent notices with additional details and actions required to support the EBS Market integration onto CME Globex.

      Topics in this issue include:

      Critical System Information

      EBS Migration Mock Trading to Begin October 2

      In preparation for mock testing, we ask that you continue to engage in the completion of the API certification process and submission of production connectivity forms.

      Migration of clients to the new EBS Workstation and EBS Direct platforms will also continue along with Post-Trade migrations.

      Our goal throughout the entire migration is a seamless experience for all clients, and we continue to evaluate our progress at every step. Next month, we expect to communicate a final cutover date as well as remaining mock testing dates and early production access schedules which will precede the final cutover to CME Globex.

      We appreciate your support and feedback. If you have any questions, please contact Global Account Management or your EBS Sales Executive.

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      Production Connectivity Options and Order Forms Available Now

      Production Environment connectivity offerings and order forms for EBS markets are now available.

      CME Group requests all Production Connectivity Access Request and Change Forms are currently due to ensure readiness for the mock trading session(s) beginning October 2, 2021 and EBS Market launch on CME Globex. If you have not submitted these forms please do so as soon as possible.

      Equinix is now offering a cross-connect migration promotion for authorized customers. For existing EBS iCross customers who migrate to EBS GLink and/or RNet, Equinix will:

      • waive the install fee
      • offer a grace period on the monthly recurring charge until January 1, 2022

      This offer includes cross connects from Secaucus, Slough and Tokyo campuses to the New Release and Production environments via GLink and/or RNet.

      See the EBS GLink Cross Connect Specifications or EBS Access and Cross Connect Specifications via RNet for more information.

      If you have any questions, please contact Global Account Management.

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      Client Testing for EBS Market and eFix Matching Service on CME Globex

      Core features for EBS Market and eFix Matching Service are now available in the CME Globex New Release environment for client and vendor testing, including order entry, market data, Drop Copy and product reference data.

      Full details on features and functionality are available now in the EBS Market on CME Globex Launch Schedule.

      All EBS Market and eFix Matching client systems will need to establish connectivity to the CME Globex New Release environment prior to testing or certifying. See the EBS integration environments overview for details about accessing the test environments. Clients may choose from the following options:

      • CME Cert VPN: a secure, encrypted tunnel through an internet service that supports VPN protocols.
      • CME Cert Data Center: cross-connect to CME Data Center locations (where offered), using a 1Gbps fiber handoff.

      ACTION REQUIRED

      Learn more about how to get set up for testing, including connecting to CME Globex New Release environment and setting up a system profile, company details, and sessions:

      If you have any questions, please contact Global Account Management.

      Please review the following Client Impact Assessments for more details:

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      Client Services for EBS Market and eFix on CME Globex

      With the EBS Market and eFix migration to CME Globex, a number of client services and solutions will be available for these markets. An overview of all services available to EBS Market and eFix clients is now available, including:

      • Administrative
      • Credit and Risk Management
      • Product and Instrument
      • Reporting and Analytics
      • Front-End Trading Solution
      • Market Data
      • Order Entry
      • Trade Confirmations

      Onboarding information for New Release and the Production environments are also available now.

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      AutoCert+ Available Now

      The Market Data, iLink 3 and Drop Copy AutoCert+ test suites are now available for application certification in preparation for the EBS Market launch on CME Globex. AutoCert+ is an automated testing tool for validating application functionality prior to connecting to and transacting on CME Group platforms. Certification ensures messaging and processing reliability and the capability to gracefully recover during abnormal events.

      CME Group requires that all client and vendors systems are certified by AutoCert+ before connecting to the Production environment for:

      For certification assistance or questions, please contact Certification Support for Electronic Trading (CSET).

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      Disorderly Market Testing for NEX SEF on CME Globex

      Participants on NEX SEF, operated by NEX SEF Limited, are required to self-certify that their algorithms will avoid contributing to or creating disorderly trading conditions, as defined in the relevant Rulebooks. This self-certification is mandatory prior to the initial deployment of trading algorithms or trading strategies and prior to any substantial updates or changes.

      NEX SEF participants must complete this self-certification prior to the launch of EBS Market On-SEF NDFs on CME Globex, even if the algorithm is self-certified for the current trading platform. Self-certification attestation will be available via the Request Center in the CME Customer Center prior to the production launch. More information on the availability schedule will be available in further EBS Integration Notices.

      To facilitate this self-certification for all NEX SEF clients, CME Group supports regularly scheduled simulated disorderly trading conditions in the CME Globex New Release environment where order entry messages will be injected at 35 messages per second (MPS) to create additional latency in the environment. The session schedule is:

      • Thursdays: 5:00 AM – 6:00 AM GMT (23:00 PM – 0:00 AM CT on Wednesdays)
      • Thursdays: 3:00 PM – 4:00 PM GMT (9:00 AM – 10:00 AM CT)

      CME Group also supports the ability to inject erroneous orders and trades into the New Release environment.

      Please note: These testing sessions, along with the self-certification in Request Center are separate from the mandatory functionality certification required for all client API systems prior to production access to CME Globex. Functional certification is available now in the AutoCert+ tool.

      Additional Resources:

      For questions about the disorderly markets testing, please contact Certification Support for Electronic Trading (CSET) at 312 930 2322 in the US, +44 20 3379 3803 in Europe, or +65 6593 5593 in Asia.

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      eFix on CME Globex Messaging Enhancements

      CME Group will implement enhancements to iLink3 Execution Report to support the integration of eFix Matching on CME Group services.  With this change, CME Globex will provide the following transaction details on both iLink3 Execution Report – Trade Outright messages for the eFix Matching instruments:

      • GrossTradeAmt (Tag 381)
      • ContraGrossTradeAmt (tag 5542)

      Currently, these transaction details are only available on the second Execution Report - Trade Outright which is sent after the Fixing price is published and assigned to the trade.

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

      Additonal details on eFIX Matching are available on eFix Matching Message Scenario.

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      Production iLink 3 EBS Market on CME Globex Configuration File

      This Sunday, September 12, the production iLink 3 EBS Market on CME Globex configuration file will be available for customer download from  sftpng.cmegroup.com.  The new EBS Market Segment Gateway (MSGW) Configuration file allows clients systems to receive the list of all market segments and IPs for EBS MSGWs and Order Entry Service Gateways.

      iLink 3 EBS MSGW Configuration Update – Production Environment

      Milestone SFTP Site Directory Configutation File CME Globex Platform
      Currently sftpng.cmegroup.com /MSGW/Production/Configuration MSGW_Config.xml
      • Futures and Options on Futures
      • BrokerTec Markets
      Starting September 12 MSGW_Config.xml
      • Futures and Options on Futures
      • BrokerTec Markets
      MSGW_Config_EBS.xml
      • Futures and Options on Futures
      • BrokerTec Markets
      • EBS Market and eFIX Matching Service

      For more additional information on these MSGW configuration files is available in SFTP - MSGW Configuration.

      Production EBS Globex Ultra UDP Market Data Configuration File Available Now

      The EBS Globex Ultra UDP Market Data Configuration is now available for customer download from ftp://ftp.cmegroup.com/ or sftpng.cmegroup.com. The previously announced IPs and ports are no longer valid. The Market Data Configuration file allows clients systems to receive the list of all market data channel configurations (multicast IP and product groups) for UDP market data groups.

      For more additional information on these network configuration files is available in FTP and SFTP Site Information section of the CME Globex EBS Market - Market Data Client Impact.

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      Reference Data API Production Access

      Access to EBS product referential data in the Production environment via Reference Data API is now available. In order to access EBS referential data via Reference Data API, clients are required to use Oauth, an open protocol that supports secure authorization in a simple, standard method and decouples authentication from authorization and entitlement registration.

      Apply now for access to EBS referential information.

      EBS on Reference Data API is currently available for customer testing in New Release.

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      EBS Ai on CME Globex

      CME Group will temporarily implement an EBS Ai on CME Globex API to facilitate the EBS Market Integration. This API will allow existing EBS customers to transact on CME Globex using EBS Ai with minimal modifications to your trading and market data solutions. CME Group is offering this service to reduce your risk of losing access to EBS Market and eFix during the migration to CME Globex. 

      EBS Ai will require less development effort as it replicates the FIX version of the Ai spec to support EBS Market on CME Globex for order entry and credit screened market data.  This approach will require a few minor development changes and future enhancements to EBS Market and eFix on CME Globex may not be available over EBS Ai.  Full details on the differences between the Legacy Ai protocol and the new EBS Ai protocol are available in the Client Impact Assessment.

      Migration to CME Globex order entry and credit screened market data will be required at a later date within 2-3 years.  More information will be published in the future EBS Market Integration Notice.

      Certification is not required for the new EBS Ai.  EBS Ai is currently available for customer testing in New Release.  Current Ai Clients that want to test the EBS Ai on CME Globex  will need to establish connectivity to the CME Globex New Release environment prior to testing. Clients may choose from the following options by submit the New Release Environment Access Request Form:

      • CME Cert VPN: a secure, encrypted tunnel through an internet service that supports VPN protocols.
      • CME Cert Data Center: cross-connect to CME Data Center locations (where offered), using a 1Gbps fiber handoff.

      If you have any questions, please contact Global Account Management.

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      EBS Credit on CME Globex

      To support the integration of EBS Market and eFix Matching on CME Group services, EBS Credit functionality will be made available for all EBS instruments.

      EBS credit functionality allows a market participant firm to manage prime and bilateral credit risk with other market participants for EBS Market, eFix Matching Service and EBS Direct trading venues.

      EBS credit functionality for CME Globex instruments is currently available for customer testing in New Release.

      In the New Release environment, client systems configured for prime and bilateral credit will have the opportunity to test credit scenarios with related messaging and consume credit screened market data in the designated currency pair - US Dollar/Chinese Yuan (USD/CNH).

      • Bilateral credit will be unlimited to all other bilateral GFIDs.
      • One bilateral GFID with no credit to any other bilateral GFID will enter orders in the designated pair.
      • Orders entered against a counterparty resting order with no credit will result in the aggressing order resting on the book.
      • Orders entered against a counterparty resting order with no relationship will result in the aggressing order resting on the book.
      • Prime customer orders exceeding the configured credit limit will result in an order reject.
      • Client systems with insufficient credit will display orders on the Ultra Market Data feed but not on the Credit Screened market data feed.

      An EBS Risk Manager GUI and API will be available for clients to manage their credit profiles. API clients will be required to complete a functional certification via Autocert+ tool prior to the production launch. More information on the EBS Risk Manager services and certification test suite availability will be announced in future EBS Market Integration Notices.

      Please contact the following for additional information:

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      EBS Disaster Recovery Information Available Now

      As part of CME Group’s comprehensive business continuity management program, EBS Disaster Recovery (DR) scenarios and DR system connection details for EBS Market and eFix Matching Service are now available. The EBS Production environment is designed and built with multiple layers of redundancy. Failover from Production to a DR environment is only invoked due to a widespread data center or connectivity failure.  Details about opportunities to test connectivity and order flow through our DR environment will be available in upcoming EBS Market Integration Notices. 

      If you have any questions, please contact Global Account Management.

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      Post Trade

      EBS Central Post Trade (CPT) for CME Group Systems - Available for Customer Testing

      EBS Central Post Trade is currently available for client testing in the EBS Customer Lab for all clients that have migrated from Deal Feed Services. The updated system is backward compatible with the current EBS Central Post Trade system. Although CME Group does not anticipate any issues, we recommend completing client testing ahead of the Production launch.

      EBS Central Post Trade is only available in the EBS Customer Lab for testing. Clients who need to test the post-trade service for CME Globex integration have the option to connecting to the New Release environment to trade on CME Globex, or arranging for direct trade injections. See details on the entity setup requirements and the two processes for testing EBS Central Post Trade.

      Please refer to additional resources as needed:

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      Announcements and Additional Resources:

      EBS Operational Readiness Guide Available Now

      A new client onboarding and setup resource is now available to assist clients with the integration of EBS Market's central limit order book and eFix Matching Services onto CME Globex.

      The EBS Operational Readiness Guide includes checklists and details required for accessing and setting up EBS services for CME Globex, links to required forms and related resources, and support team contact details.

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      The ‘Future of EBS’ Webpage Available Now

      A new resource about comprehensive changes to EBS trading venues, platforms, and services, the ‘Future of EBS’ webpage, is now available. The Future of EBS webpage provides timelines, key milestones, customer impacts for EBS Market, eFix Matching Service, EBS Direct, and APIs, and additional customer resources.

      Please check this page often to view additional new resources as projects evolve.

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      Subscription Center for EBS Market Integration Notice

      Please be aware that customers can now subscribe to receive EBS Market Integration Notices via the Subscription Center, a self-serve online resource for managing email communications from CME Group. The EBS Market Integration Notices are currently sent bi-weekly at 2am Central Time (CT) Thursday and include communications regarding the up-to-date details and actions required for clients to support the EBS Market integration onto CME Globex.

      All clients who currently receive the EBS Market Integration notice will remain on the distribution and will not require any action to continue receiving the notice.  New clients who want to start receiving the EBS Market Integration notice will need to use their CME Group Login to access Subscription Center and select “EBS Market Integration Notices” to subscribe. 

      Additional details about how to Subscribe to the EBS Market Integration Notice are now available.

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