EBS Market on CME Globex Notice: September 28, 2023

Topics in this issue include:

• Critical Information
  • Reminder: Required Action for Legacy EBS Globex User Signature Entries - This Week
  • iLink 3 SBE Schema Update - This Week
  • Reduced Latency Floor batch window for all FX SPOT and NDFs - October 22
  • MDP 3.0 SBE Schema Update - Starting October 22
  • On-SEF NDF Tailored Order Books Launch - November 12 
  • Upcoming Regulatory Reporting Changes - Implementation of Unique Product Identifier (UPI) and Report Tracking Number (RTN) - January 29, 2024 
• Front-End Clients
  • EBS Workstation Enhancements - Q3 2023
  • EBS Workstation Migration to CME Group Single Sign-On - Q4 2023
• Announcements and Additional Resources
  • Reminder: CME Reference Data API v2 Decommission - October 27
  • CME STP for EBS Trades and the Decommission of CPT - December 31, 2024

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

Critical System Information

Reminder: Required Action for Legacy EBS Globex User Signature Entries

Last year, to ensure a seamless EBS Market migration to CME Globex, existing EBS Trader IDs were migrated to GUS IDs in CME Group systems, including those that may not have first/last names populated. To comply with current regulatory requirements and to guarantee that CME Group has the correct contact information for orders and trades, all EBS participants must take action to update their Globex User Signature (GUS) IDs to comply with CME Globex OperatorID 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• Delete any GUS IDs that are no longer active.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, 2023 to September 30, 2023.

Any inactive GUS's that do not have a trader name assigned, such as the GUS's assigned to 'Dummy First/Dummy Last' had products entitlements removed on Friday, September 15, and were deleted on Friday, September 22.

This will impact EBS Market and EBS Direct GUS IDs.

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), Admin Managers should ensure they are not in use, as deletion will prevent order placement. If required, your Global Account Manager can 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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iLink 3 SBE Schema Update

Effective this 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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Reduced Latency Floor Batch Window for All FX SPOT and NDFs

Effective Sunday, October 22 (trade date Monday, October 23), the Latency Floor batch window for all Spot and NDF products traded on EBS Market on CME Globex will be reduced to 1-3 milliseconds.  Currently Latency Floor batch window is set to 3-5 milliseconds.

This change will be available for customer testing in New Release on Monday, October 2.

More information about Latency Floor functionality is available in the Client Systems Wiki.

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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 13 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 12. 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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On-SEF NDF Tailored Order Books Launch

Effective Sunday, November 12 (trade date Monday, November 13), pending the completion of all regulatory review periods, On-SEF NDF Tailored Order Books capability will be made available by NEX SEF Limited on CME Globex. 

Please review the Client Impact Assessment for full technical details and launch schedule. 

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Upcoming Regulatory Reporting Changes - Implementation of Unique Product Identifier (UPI) and Report Tracking Number (RTN)

In response to ongoing regulatory reporting harmonization across different jurisdictions, CME Group is committed to supporting EBS FX trading venue customers in meeting their regulatory obligations in the regions from which they operate. We are currently looking to meet two key compliance dates:

• CFTC re-write Phase II - January 29, 2024
• European Markets Infrastructure Regulation (EMIR) Refit - April 29, 2024

Both initiatives introduce the Unique Product Identifier (UPI) which sits above the ISIN, an existing identifier already provider to customers trading on NEX SEF MTF (operated by NEX SEF Limited) and the EBS UK MTF (operated by BrokerTec Europe Limited). The implementation of UPI by EBS will be no later than Monday, January 29, 2024.

CME Group for EBS Market venues will to provide a Report Tracking Number (RTN) for all exchange traded derivatives (including OTC) to support clients with EMIR reporting obligation.

The UPI will be available for customer testing in New Release on Monday, November 6. Additonal information on the  details of the updates available on the Client Systems Wiki.

All customers trading FX NDFs on the NEX SEF MTF and EBS UK MTF are encouraged to engage their internal compliance and regulatory teams for additional changes as a result of the regulatory reporting updates to ensure reporting accuracy ahead of the compliance dates.

Please contact the Global Account Management or Cash Markets Reg Product Team to raise any questions regarding the upcoming regulatory changes.

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Front-End Clients

EBS Workstation Enhancements

In Q3 2023, EBS Workstation will introduce the following enhancements:

• EBS Market Minimum Fill Quantity for IOC/FAK Orders
  • Users will now be able to set Min Fill Quantity on IOC/FAK orders sent to EBS Market. This option will be available on the Order Form and if specified the order will either be Filled for at least that quantity or expire as Not Filled.
• View Market Data for selected FX Futures instruments
  • A quick link is being added to the Side Menu that will allow users to quickly view recent market data for a list of selected CME FX futures instruments. 

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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

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 an updated 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.

Starting Sunday, October 22, 2023 (trade date Monday, October 23) EBS trades will be available on CME STP and CME STP FIX, a unified post-trade solution for EBS Markets on CME Globex, EBS Direct, 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. CME STP for EBS FX Markets is now available for customer testing in New Release.

Further details will be provided in future announcements.

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

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