EBS Market on CME Globex Notice

EBS Market on CME Globex Notice

Topics in this issue include:

• Critical Information
  • Update to Request for Quote Functionality (RFQ) - February 26
  • Customer Lab Closure and Migration to New CL2 Environment - May 24
  • Post-Migration iCross Connectivity
  • Reminder: EBS Reporting Availability New
  • Reminder: Short Code Identifiers on CME Globex
  • Reminder: Disorderly Market Testing for NEX SEF and EBS UK MTF on CME Globex
  • Reminder: FirmSoft
• Announcements and Additional Resources
  • Subscription Center for EBS Market on CME Globex Notice

Critical System Information

Update to Request for Quote Functionality (RFQ)

Effective Sunday, February 26, 2023 (trade date Monday, February 27), CME Globex will update the RFQ tag formats for MDP 3.0 tag 131-QuoteReqID and tag 9770-ExchangeQuoteRefId for iLink 3 to contain only numeric string values. The data types for these tags will not change. This notice is informational only. Clients should not parse these tags for reference information.

New Release and Production dates are outlined below.

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Customer Lab Closure and Migration to New CL2 Environment

As part of a data center services consolidation for improved quality and supportability, on May 24, 2023, the Customer Lab at its current location will close. Customer Lab services will migrate to a new environment, named CL2, at the data center where clients connect to the CME Globex Certification and New Release environment.

CL2 includes EBS Central Post Trade (CPT), EBS Direct 2.0 and BrokerTec Stream (v2.0 only) services. These services will reside outside of the CME Globex network. Ordering new connectivity to the CL2 environment will be required and details for ordering connectivity will be announced in the coming weeks. Existing CME Globex Certification/New Release connectivity will not work in CL2.

The connectivity options in the CL2 environment are:

• CL2 Cert VPN  - recommended and available now
• CL2 STunnel  - details to be announced in January 2023

The CL2 Cert VPN solution hardware and software requirements are similar to the CME Globex Cert VPN / NR solution for BrokerTec and EBS markets, easing the implementation of the new CL2 Cert VPN connectivity for clients that have implemented a CME Globex Cert VPN. If unfamiliar with those environments, be advised of the CL2 Cert VPN requirement for networking hardware to be capable of supporting IKE v2. As a result, procuring new networking hardware may be required. Please be mindful that lead times when ordering networking hardware are substantially longer now than they were pre-pandemic and plan accordingly.

The migration to the CL2 environment will be completed during the regular maintenance window for our test environments. If testing prior to May 24, continue connecting to the Customer Lab and migrate to the new connectivity on or after May 24.

Please contact Global Account Management with any questions regarding this migration.

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Post-Migration iCross Connectivity

CME Group continues to finalize the deactivation of legacy NEX EBS iCross connections used to access BrokerTec Stream, EBS Market and EBS Direct. All clients who are still leveraging iCross connectivity should contact ECHO-RNET@cmegroup.com to finalize the migration of NEX EBS Direct services from iCross to RNet. CME RNet is the client-managed connectivity solution providing access to Relationship-Based Trading for both EBS Direct and BrokerTec Stream platforms.

Detailed information on connectivity offerings is available in the Client Systems Wiki.

Customers who migrated services onto CME Globex should have contacted Equinix to advise them to cancel their cross-connect agreement with Equinix. After that migration, customers will be able to cancel/disconnect the associated cross-connects supporting the legacy iCross connectivity. Customers actively connecting to BrokerTec Stream will be contacted by CME Group to discuss migration planning.

For questions relating to your legacy iCross connections, please contact the ECHO team.

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New - Reminder: EBS Reporting Availability

As a reminder, EBS reports on CME Globex are distributed through either the Enterprise Reporting Portal (EREP) or CME SFTP.

Enterprise Reporting (EREP) is a browser-based tool that enables firm users to search, view, and print or download CME Group pre-processed reports. Users may save any report listed on EREP to file, zip, or PDF. This feature offers customers the flexibility to review and reconcile reports in various formats and is typically the tool used for most traders to view and download their daily reports.

Secure File Transfer Protocol (SFTP) is a network transmission protocol that uses a Secure Shell (SSH) connection and public / private key pair to authenticate access prior to sending and receiving files over a secure connection.  SFTP is typically used for firms to set up a centralized, systematic method for receiving reports into their systems.

The Back Office Admin Manager will authorize an authority figure to manage the SFTP Folder. This person will have the responsibility for managing SFTP IDs and granting permission to additional individuals to create and manage SFTP IDs. 
To access to EBS Reports, report recipients should take the following actions:

• Obtain a CME Group Login.
• Request access to EREP and/or SFTP through their firm's Back Office Admin Manager.

Admin Managers should complete and submit EBS EREP and SFTP Report Registration Form(s) as needed. When submitting these forms, each user will need to specify the roles or categories of reports for which they need access:

•  
  •  
    • EBS Standard Report EREP Registration
    • EBS Credit Report EREP Registration
    • EBS Regulatory Report EREP Registration
    • EBS Session Report EREP Registration
    • EBS Billing Report EREP Registration
    • EBS Institutional Report EREP Registration
    • SFTP Post Trade Reporting Registration

For a summary of the reports and applicable report access roles, see EBS Reporting.

If you do not know your designated Admin Manager, please reach out to Global Account Management.

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Reminder: Short Code Identifiers on CME Globex

To meet MiFID requirements, all EBS Market on-SEF and/or on-MTF NDF orders must contain accurate Short Codes registered to a client’s LEI, GFID and GUS. Clients trading in these markets must ensure their Short Codes (and corresponding natural person identifiers where applicable) are registered via the NEX Upload Facility (NUF). Clients are responsible for maintaining NUF Administrators whose role it is to ensure all Short Code information is accurate and registered to the correct entities and to update this information as needed. The EBS Upload Facility User Guide and NUF Registration Form are available online for your convenience.

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Reminder: Disorderly Market Testing for NEX SEF and EBS UK MTF on CME Globex

Participants on NEX SEF (operated by NEX SEF Limited) and EBS UK MTF (operated by BrokerTec Europe 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 and EBS UK MTF participants must complete this self-certification attestation which is available via the Request Center in the CME Customer Center. More information on the availability schedule will be available in further EBS Integration Notices.

To facilitate this self-certification for all 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 a.m. – 6:00 a.m. GMT (23:00 p.m. – 0:00 a.m. CT on Wednesdays)
• Thursdays: 3:00 p.m. – 4:00 p.m. GMT (9:00 a.m. – 10:00 a.m. 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:

• Details about accessing the test environment
• Details about Injecting erroneous orders in the New Release environment

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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Reminder: FirmSoft

FirmSoft is a browser-based order management tool that provides real-time access to information on working and filled CME Globex orders and provides risk mitigation functionality through order cancellation by permissioned users.

FirmSoft functionality includes activity across EBS Workstation, proprietary, and third-party front-end systems. FirmSoft access is granted by a Front Office Admin Manager via User Administration.

Learn more on FirmSoft functionality and User Administration. For additional details about using FirmSoft, please visit the FirmSoft User Help.

Please contact Global Account Management for further information, demos of the functionality or access questions.

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Announcements and Additional Resources

Subscription Center for EBS Market on CME Globex Notice

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

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To view previous versions of EBS Market Integration Notices, see the Advisory Notices page.