EBS Market on CME Globex Notice

EBS Market on CME Globex Notice

Topics in this issue include:

• Critical Information
  • Reminder: NEX SEF Audit Trail: Revised FEAT 100 Reports Available
  • MDP 3 Conflated TCP Subscription Request Messaging Controls - April 30 
  • Customer Lab Closure and Migration to New CL2 Environment - May 24 Update
  • Reminder: EBS Reporting Availability
• Product Launches
  • Launch of Bitcoin/US Dollar EOM Non-Deliverable Forwards (NDF) for EBS Market on CME Globex - May 7 New
• Product Changes
  • Increase to Maximum Order Quantity for EBS eFix Products on CME Globex - April 2
• Announcements and Additional Resources
  • EBS Market and eFix 2023 Customer Disaster Recovery Exercises Update

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

Critical System Information

Reminder: NEX SEF Audit Trail: Revised FEAT 100 Reports Available

The FEAT 100 reports, issued end-of-day after each trading day, stopped capturing fill and elimination notice elements starting June 10, 2022, until February 24, 2023, when the issue was remediated. 

Revised FEAT 100 reports are available for all participants. The reports from June 10, 2022, to February 24, 2023, will be available for download via CME Enterprise Reporting Portal (EREP) and via CME SFTP service for 180 days, until September 16.

As a reminder, fill and elimination elements are required for compliance with NEX SEF Rules on Audit Trail. FEAT 100 reports are issued for participants’ convenience for compliance with MRAN 2022-01 Order Routing/Front-End Audit Trail Requirements. These reports should be stored by the participants for five years.

If you have any questions, please reach out to audittrail@cmegroup.com.

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MDP 3 Conflated TCP Subscription Request Messaging Controls

Effective Sunday, April 30 (trade date Monday, May 1), CME Globex will implement subscription request messaging controls for conflated TCP MDP3. With this update, client systems will be disconnected if unfiltered subscription requests (both NoSecurityGroup and NoRelatedSym are equal to zero) exceed 100 requests within one second. If the limit is exceeded, client systems will be disconnected and will not be able to re-login for one minute. The following Terminate message will be sent to client systems when sending a negotiate message within the one-minute rejection period.

The updated subscription volume controls are currently available for customer testing in New Release.

Update - 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, 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. Existing CME Globex Certification/New Release connectivity will not work in CL2.

† The connectivity option in the CL2 environment is CL2 Cert VPN, which is recommended and available now.

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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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 Institution Code Report 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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Product Launches

New - Launch of Bitcoin/US Dollar EOM Non-Deliverable Forwards (NDF) for EBS Market on CME Globex

Effective Sunday, May 7 (trade date Monday, May 8), subject to regulatory approval, the EBS UK MTF and NEX SEF¹ will launch for trading Bitcoin/US Dollar Non-Deliverable Forwards (NDFs) on CME Globex.

The Bitcoin/US Dollar NDFs will feature the following new Access Groups:

• ON SEF/ON MTF CRYPTO NDFs
• OFF SEF/ON MTF CRYPTO NDFs

Additional product and instrument information will be available in the Reference Data API.

Customers that would like to trade this product and have not already discussed this with EBS can contact their CME EBS Account Executive to discuss onboarding requirements.

These products will be available for customer testing in New Release on Monday, March 27.

¹Operated respectively by BrokerTec Europe Limited and NEX SEF Limited

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Product Changes

Increase to Maximum Order Quantity for EBS eFix Products on CME Globex

Effective Sunday, April 2 (trade date Monday, April 3), the maximum order quantity, tag 1140-MaxTradeVol, in the Security Definition (tag 35=d) message will be increased for all EBS eFix instruments listed on CME Globex to the value of 2,000,000,000 from the current value of 999,000,000.

For additional information on EBS eFix specifications, please refer to the CME Globex Product Reference sheet.

This change is currently available for customer testing in New Release.

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Announcements and Additional Resources

Updated - EBS Market and eFix 2023 Customer Disaster Recovery Exercises

† Denotes update to the article

CME Group is offering EBS customers two opportunities to test with our EBS disaster recovery systems. To help ensure readiness and provide an opportunity for you to test your connectivity to and ability to transact via our DR systems, customers are strongly encouraged to sign up and test with us on the following dates:

• April 22: for customers of EBS Market and eFix – New York FX Spot and New York Metals
• † May 20: for customers of EBS Market and eFix – London FX Spot and London NDFs

Similar to last year’s event, these Spring exercises provide customers with a chance to test their Production connectivity to the EBS Market and eFix DR engines and customer gateways.

US customers who participated in the October 2022 SIFMA exercise also are encouraged to register and participate in the DR exercises, as there are very important differences between SIFMA and our Spring failovers. During SIFMA, customers either test their DR or Production connectivity to EBS Market and eFix’ s Production engines and gateways, which use DR back-end systems.

In April and May, the reverse is true, and this is the annual opportunity to test your Production connectivity to our DR markets.

Customers must register in advance to participate. Please review the mock trading script for additional details.

Please contact operationalresilience@cmegroup.com with any questions.

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