EBS Market on CME Globex Notice: August 17, 2023

Topics in this issue include:

• Critical Information
  • Reminder: NEX SEF Audit Trail: Revised FEAT 100 Reports Available
  • Reminder: Required Action for Legacy EBS Globex User Signature Entries
  • Reminder: NDF Messaging Efficiency Program (MEP)  - September 1 New
  • iLink 3 SBE Schema Update - October 1
  • MDP 3.0 SBE Schema Update - Starting October 22 New
  • EBS Workstation Migration to CME Group Single Sign-On - Q4 2023 New
• Announcements and Additional Resources
  • Reminder: CME Reference Data API v2 Decommission - October 27 New
  • CME STP for EBS Trades and the Decommission of CPT

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 Audit Trail.

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Reminder: Required Action for Legacy EBS Globex User Signature Entries

All EBS participants must take action to update their Globex User Signature (GUS) IDs to comply with CME Globex OperatorID Requirements and to guarantee that CME Group has the correct contact information for any orders or trades. Previously, to ensure a seamless EBS Markets migration to CME Globex, existing GUS IDs were migrated to CME Group systems, including those that may not have had complete first/last names populated. To comply with current regulatory requirements, Front Office Firm Admin Managers must take the following action on GUS information from the Request Center:

• Update the following information for the individual or team lead assigned to the active GUS IDs under their Globex Firm IDs (GFIDs): first and last name, email, phone number/type, country, address, and town/city.
• Delete any GUS IDs that are no longer active. 

New Firm Deadline: To accommodate for some unforeseen challenges in obtaining corrected data, all EBS participants are hereby granted an extension from June 30 to September 30.

Audit trail examinations conducted post-September 30, will review NEX SEF participants for compliance with Operator ID requirements consistent with MRAN 2022-02 and NEX SEF Rule 302.

Please note: Before deleting any GUS(s), make sure they are not in use as deleting them will prevent order placement. Your Global Account Manager will follow up via email and provide information regarding the Front Office Firm Admins who have the ability to update GUS(s) on behalf of your firm.

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New - Reminder: NDF Messaging Efficiency Program (MEP) 

This new Messaging Efficiency Program (“MEP”) will replace the existing NDF Quote Fill Ratio (QFR) for the Asian NDF 1M currency pairs to reinforce quoting quality on Friday, September 1. Subject to regulatory approval, a Market Regulation Advisory Notice (“MRAN”) 2023-01 outlining the MEP methodology, monitoring and actions for breaches will be effective Friday, September 1 and will replace MRAN 2021-03 outlining the QFR requirements. See the draft MRAN 2023-01 for additional information.

Please Note: Prior to the September effective date, the existing QFR will remain in force. 

Please ensure that the appropriate staff members within your institution are advised of the content of this communication. Any queries or clarification in respect to the above can be addressed to EBSGlobalNDF@cmegroup.com or your EBS account representative.

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iLink 3 SBE Schema Update

Effective Sunday, October 1, the iLink 3 SBE schema version 8  schema will be the only version supported in production. Client systems can only send version 8 messages.

The CME SFTP site will be updated as follows:

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New - MDP 3.0 SBE Schema Update

To support future enhancements for EBS Market on CME Globex, the MDP 3.0 SBE schema will be updated to version 12 starting Sunday, October 22 (trade date Monday, October 23), and concluding Sunday, November 5 (trade date Monday, November 6). More information regarding these enhancements will be published in the future EBS Market on CME Globex Notice.

The overview of MDP 3 schema updates is now available.  

EBS Market on CME Globex is currently on schema version 11. In order to ease customer development efforts, the new SBE schema files will support Template Extension for MDP 3.0 messages sent from EBS Client systems to CME Globex. 

For client systems who do not support template extension, the template is not backward compatible and the MDP 3.0 messages sent from CME Globex cannot be decoded.

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New - EBS Workstation Migration to CME Group Single Sign-On

Starting in Q4 2023, EBS Workstation will migrate to CME Group Single Sign-On authentication as part of the final phase of moving from legacy EBS technology to common CME Group technology. Clients can choose to integrate with either CME Group Login Single Sign-On or Federated Authentication solution

The migration to Single Sign-On will provide the following benefits:

• Enhanced User Experience: Manage only one user ID and password to access premium cmegroup.com content, permissioned CME Group Login integrated applications and other services for a seamless user experience.
• Optional Federated Authentication: Federated Authentication in which the user's login credential and password and any additional security checks stay within the customer’s infrastructure and is never shared with CME Group.  Customers have more control over what conditions their users get access to on CME Group systems. For example, customer security teams can choose to enforce IP address checking as a prerequisite to logging into a CME Group application.

During the migration period to ensure a seamless process, users logging into EBS Workstation will be presented a screen to self-onboard to CME Group Login.

Clients opting for Federated Authentication solution will work with CME Group technical teams to ensure smooth transition.

The migration details and start date will be announced in future EBS Workstation notices.

For questions, please contact ebsworkstation@cmegroup.com.

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Announcements and Additional Resources

New - Reminder: CME Reference Data API v2 Decommission

Effective Friday, October 27, Reference Data API version 2 will be decommissioned and no longer supported. To support the decommission, version 2 will be deprecated and no further enhancements will be offered as of Saturday, September 30. 

Customers are strongly encouraged to migrate to Reference Data API Version 3 as soon as possible to prevent any data interruptions. 

CME Reference Data API v3 (RD APIv3), hosted on Google Cloud (GC), provides the following enhancements:

• Decreased refresh time rate
• Increased results per page from 20 to 1000
• No change to your API IDs and entitlements

Clients should review the Client Impact Assessment for details on v3.

Reference Data API Version 3 is currently available in Production and for customer testing in New Release.

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CME STP for EBS Trades and the Decommission of CPT

As announced during the CME Globex migration, Central Post Trade (CPT) for EBS trades will be decommissioned starting in 2024. CPT TOF will be decommissioned on December 31, 2024, with CPT FIX decommission following shortly thereafter.

EBS trades will be available on CME STP and CME STP FIX, a unified post-trade solution for all trades on EBS venues, BrokerTec on CME Globex, BrokerTec Stream, and CME Group futures and options venues.

All clients are encouraged to start planning their migration now to ensure no interruption of service upon the CPT decommission, and to access to new products and features which will only be supported in CME STP. 

The following resources are now available:

• Message Specifications for CME STP for EBS FX Markets
• Business specifications for other Markets and Venues and Core specifications at Post Trade Services
• Migration Guide for CPT TOF to CME STP

A migration guide for CPT FIX to CME STP will be announced in future EBS Market on CME Globex notices.

The Global Account Management team will continue working with all TOF customers to discuss the options available and how best to manage the migration to CME STP.

Testing and functional certification in the New Release environment will be required prior to client’s production migration.

Further details will be provided in future announcements.

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

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