CME Globex Notices: May 21, 2018

Critical System Updates

MDP 3.0 Performance Enhancements - June 3

Effective Sunday, June 3 (trade date Monday, June 4), CME Group will continue performance improvements on the following CME Globex MDP 3.0 channels. In internal testing, these enhancements improved MDP 3.0 performance up to 60%.

These enhancements will not impact iLink order routing or market structure dynamics.

MDP 3.0 Performance Enhancements
Launch Date	Impacted MDP 3.0 Channels
June 3	CME Globex Equity Futures excluding ES – 318 CBOT Globex Equity Index Futures - 342 CBOT Globex Interest Rate Options - 345 CBOT Globex Commodity Futures II – 346 NYMEX Globex Emissions Futures – 380 NYMEX Globex Nat Gas & Other Non-Crude Energy Futures - 386
June 10	CME Globex Equity Futures (ES) – 310 COMEX Globex Futures - 360 COMEX Globex Options - 361 NYMEX Globex Emissions Options - 381 NYMEX Globex Crude & Crude Refined Options – 383 NYMEX Globex Metals, Softs & Alternative Markets Futures - 384 NYMEX Globex Metals, Softs & Alternative Markets Options – 385 NYMEX Globex Nat Gas & Other Non-Crude Energy Options – 387 DME Globex Options – 441
June 24	CME Globex Equity Options (ES) – 311 CME Globex Commodity Options – 317 CME Globex Equity Options excluding ES - 319 CBOT Globex Commodity Options – 341 CBOT Globex Equity Index Options – 343 BMD Globex Futures – 430 BMD Globex Options - 431 KRX Globex Futures - 450 MGEX Globex Options - 461

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UpdateUpdate - Price Precision Extension - 2018

† Denotes update to the article

CME Group is implementing end-to-end technology changes to support increased price granularity. Currently, CME Group systems support a maximum of 7 decimals. With this initiative, products with up to 9 decimals may be listed and traded. On Sunday, January 13 (trade date Monday, January 14), pending regulatory approval, the 2-Year Treasury Note futures and spreads will move from 7 decimals to 8 to support trading at 1/8 of 1/32.

Customers are encouraged to move to support 9 decimals now; but there are no plans to list a product that uses the 9th decimal at this time.

Starting Sunday, August 12, the price precision extension rollout will begin with MDP 3.0. With this release, customer certification will be required for MDP 3.0 and Streamlined SBE.

On Sunday, November 4, a production test instrument for the 2-Year Treasury Note futures will be launched on CME Globex. This new test instrument will give customers the ability to confirm system readiness for the introduction of 8-digit decimal price precision. †Upon the launch of this test instrument, clients whose systems are not yet prepared to handle 8 decimal precision must ensure their systems have the ability to ignore market data and iLink/Drop Copy execution reports on this new instrument.

Price Precision Timeline:

 

For complete updated rollout information and dates, refer to Key Events and Dates in the Client Impact Assessment.

The Client Impact Assessment includes additional information on the following:

• CME Globex iLink
• CME Globex MDP3 and Mandatory Certification
• Streamlined MDP and Mandatory Certification
• ITC
• CME Globex Drop Copy
• Referential Data
• Production Globex Test Instrument

These changes are currently available in New Release for customer testing. The 2-Year Treasury Note futures will be listed with 1/8 of 1/32 tick in New Release on Monday, June 11.

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CME Globex API Secure Logon – iLink and Drop Copy

CME Group is committed to our customers’ information security. To ensure the highest levels of security, CME Group has launched the CME Globex API Secure Logon in Q1 2018 to harden iLink and Drop Copy 4.0 session authentication.

The new Secure Logon is in production and will be supported in parallel with the current model with surcharges until Friday, June 29. Any iLink or Drop Copy Target sessions that connect using plain text password are subject to surcharges as follows:

• Sunday April 29 – Friday June 1: $100/session/month
• Sunday June 3 – Friday June 29: $500/session/month

Only Secure Logons will be supported starting Sunday, July 1.

The Client Impact Assessment provides more detailed process and messaging information.

A new iLink and Drop Copy certification suite is currently available in AutoCert+. iLink and Drop Copy 4.0 customer systems must complete this mandatory certification.

The CME Globex API Secure Logon is now available for customer testing in New Release.

Please contact your Global Account Manager with any questions or concerns in the U.S. at +1 312 634 8700, in Europe at +44 203 379 3754 or in Asia at +65 6593 5505 for additional information.

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New Functionality

Globex MDP3 SBE Schema Update - August 12

Starting Sunday, August 12, in conjunction with the price precision initiative, CME Group will update the schema for all Globex MDP3 SBE market data channels.  Please view the rollout schedule.   This release will not support template extension, however the order of the fields will be preserved in the new templates.  Please review an overview of changes. 

The new version 9 schema is currently available New Release for customer testing. 

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Streamlined MDP SBE Schema Update - August 26

Starting Sunday, August 26, in conjunction with the price precision initiative, CME Group will update the schema for streamlined SBE market data channels to support schema version 9 to ensure consistency between market data channels.  Please view the rollout schedule.  This release will not support template extension; however, the order of the fields will be preserved in the new templates. Please review an overview of changes. 

The new version 9 schema is currently available is currently availabe in New Rlease for customer testing New Release public FTP. 

Please Note: The schema update timeline for Streamlined Equity Indices, Eris Exchange and Bitcoin channels will be announced at a later date.

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Product Launches

Additional CME CF Cryptocurrency Pricing Data - June 4

Starting Monday, June 4, CME Group and Crypto Facilities (CF) will launch two additional cryptocurrency pricing products designed to give clients a reliable pricing index source.

The pricing data will be offered via streamlined CME CF Cryptocurrency Pricing Market Data feed on channel 213.

The feed will publish the following standardized reference rate and real time index pricing data:

• Reference Rates to provide a final settlement price in U.S. dollars shortly after 4 p.m. London time each day.
  • CME CF Ether-Dollar Reference Rates (ETH_RR_USD)
• Real Time Indices to allow users access to real-time cryptocurrency prices.  
  • CME CF Ether-Dollar Real Time Index (ETH_RTI_USD)

The additional cryptocurrency pricing data is currently available for testing in New Release. Certification is not required.

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Eurodollar Term Mid-Curve Options - June 10

Effective Sunday, June 10 (trade date Monday, June 11), Eurodollar Term Mid-Curve options will be listed for trading on CME Globex, trading floor, and for submission for clearing via CME ClearPort

Eurodollar Term Mid-Curve Options
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
3-Month Mid-Curve Options	TE2	G3 (UDS: U$)	313
6-Month Mid-Curve Options	TE3	G6 (UDS: U$)	313
9-Month Mid-Curve Options	TE4	G4 (UDS: U$)	313

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

These contracts are listed with, and subject to, the rules and regulations of CME.

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Product Changes

New New - Delisting and Removal of Argus Benzene Futures - This Week

On Monday, May 21 the following Argus Benzene futures contracts were delisted and on Friday, May 25 these futures contracts will be removed from CME Globex at close of business.

Delisting and Removal of Argus Benzene Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group
Benzene fob South Korea (Argus) Trade Month Futures	BSA	JR
European Benzene cif ARA (Argus) Trade Month Futures	BEA	JR

This futures contract currently have no open interest.

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New New - Listing Cycle Delay for Feeder Cattle Futures and Options  - This Week

Effective Thursday, May 24 (trade date Friday, May 25), the listing for the following Feeder Cattle Futures and Options will be temporarily suspended on CME Globex. On Sunday, June 10 (trade date Monday, June 11), and pending all CFTC regulatory review periods, the listing cycle of Feeder Cattle Futures and Options will resume.

Listing Cycle Delay for Feeder Cattle Futures and Options
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current First Trade Date	New First Trade Date	Market Data Channel
Feeder Cattle Futures May 2018	GF	GF	May 25, 2018	June 11, 2018	316
Feeder Cattle Options May 2018	GF	F0	May 25, 2018	June 11, 2018	317

These contracts are listed with, and subject to, the rules and regulations of CME.

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Changes to Bursa Malaysia Derivatives (BMD) USD RBD Palm Olein Futures - This Week

Effective Thursday, May 24, and pending final regulatory approval, Bursa Malaysia Derivatives (BMD) USD RBD Palm Olein futures will be made available for trading on CME Globex with the following changes.

Expiration Change for Bursa Malaysia Derivatives (BMD) USD RBD Palm Olein Futures
Product	iLink: tag 1151- Security Group MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current Expiration (Malaysia Time)	New Expiration (Malaysia Time)
USD RBD Palm Olein futures	BL	FPOL	Expires at 1200 on the 15th day of the delivery month	Expires at 1800 on the 25th calendar day, 2 months prior to delivery month

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

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Listing Cycle Expansion for Black Sea Wheat Financially Settled (Platts) Futures  - June 3

Effective Sunday, June 3 (trade date Monday, June 4), the listing cycle for Black Sea Wheat Financially Settled (Platts) futures will be expanded on CME Globex.

Black Sea Wheat Financially Settled (Platts) Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current Listing Schedule	New Listing Schedule
Black Sea Wheat Financially Settled (Platts) Futures	BWF	WP	Monthly contracts listed for twelve (12) consecutive months.	Monthly contracts listed for fifteen (15) consecutive months.

These contracts are listed with, and subject to, the rules and regulations of CBOT.

This change will be available for customer testing in New Release on Monday, May 28.

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Strike Price Increment for Silver Options and Silver Weekly Options - June 3

Effective Sunday, June 3 (trade date Monday, June 4), the strike price listing rules for Silver options and Silver Weekly options will be modified on CME Globex.

Strike Price Increment for Silver Options and Silver Weekly Options
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current Strike Listing Rule	New Strike Listing Rule
Silver Option	SO	SO	Minimum 40 strikes at $0.25 per troy ounce strike increment above and below the at-the-money strike. If the underlying futures settle price is less than $10.00, then 10 strikes at $0.10 per troy ounce strike increment above and below the at-the-money strike in addition to the above $0.25 increment strikes. Dynamic strikes at $0.25 ($0.10 if the underlying futures settle price is below $10.00) per troy ounce strike increment above and below the highest and lowest pre-listed strikes.	Minimum 40 strikes at $0.25 per troy ounce strike increment above and below the at-the-money strike plus dynamic strikes at $0.05 per troy ounce strike increment for the nearest 48 calendar months. If the underlying futures’ settle price for contract months 1-3 is less than $25.00 then additional strikes at $0.05 per troy ounce strike increment.
Silver Weekly Option	SO1–SO5	SO	Minimum 20 strikes at $0.25 per troy ounce strike increment above and below the at-the-money strike. If the underlying futures settle price is less than $10.00, then 10 strikes at $0.10 per troy ounce strike increment above and below the at-the-money strike in addition to the above $0.25 increment strikes.	Minimum 20 strikes at $0.05 per troy ounce strike increment above and below the at-the-money strike then 16 strikes at $0.25 per troy ounce strike increment above and below the highest and lowest $0.05 increment strikes plus dynamic strikes at $0.05 per troy ounce strike increment.

The existing dynamic strike generation rule will also change to $0.05 intervals.

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

These contracts are listed with, and subject to, the rules and regulations of COMEX.

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UpdateUpdate - FIX tag Changes for CBOT Grain Options UDS Group - June 10

† Denotes update to the article

Effective Sunday, June 10 (for trade date Monday, June 11), the values in the following FIX tags will be changed for CBOT Grain options UDS group:

• iLink: tag 55-Symbol
• iLInk: tag 1151-SecurityGroup

FIX tag Changes for CBOT Grain Options UDS
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	† Current iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group (UDS)	† New iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group (UDS)
Corn Options	OZC	OC	CY	GG
Corn Weekly Options	ZC1-ZC5	OC	CY	GG
Short-Dated New Crop Corn Options	OCD	OC	CY	GG
Soybean Options	OZS	SQ	PZ	GG
Soybean Weekly Options	ZS1-ZS5	SQ	PZ	GG
Short-Dated New Crop Soybean Options	OSD	SQ	PZ	GG
South American Short-Dated New Crop Soybean Options	SRS	SQ	PZ	GG
Chicago SRW Wheat Options	OZW	OW	WZ	GG
Chicago SRW Wheat Weekly Options	ZW1-ZW5	OW	WZ	GG
Short Dated New Crop Chicago SRW Wheat Options	OWD	OW	WZ	GG
KC HRW Wheat Options	OKE	OK	1G	GG
KC HRW Wheat Weekly Options	OE1-OE5	OK	1G	GG
Short-Dated New Crop KC HRW Wheat Options	KWE	OK	1G	GG
Corn CSOs	CZ8, CZ9, CZ6, 12C, CZ7, CZC	Y1	Y2	Y2
Soybean CSOs	SZ1, SZ3, SZ5, SZK, 12S, SC7, SZ8, SZ0, SZ4, CZS, SZ9, SZH	Q1	Q2	Y2
Wheat CSOs	WC3, WC6, CZW, WCM, 12W, CWZ	W1	Z2	Y2
KC Wheat CSOs	KC6, KCR, 12K, CKZ, CK3, KZC	K3	K4	Y2
Chicago SRW Wheat-Corn Intercommodity Spread Options	ZCW	Q3	Q4	Y2

These changes will be available for customer testing in New Release on Monday, June 4.

† To facilitate the change, customers are asked to cancel all Good ‘Till Cancel (GTC) and Good ‘Till Date (GTD) UDS orders after the close on June 8. After 16:00 CT on June 8, all remaining GT orders for these spreads will be cancelled or deleted by the CME Global Command Center (GCC).

These contracts are listed with, and subject to, the rules and regulations of CBOT.

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UpdateUpdate - Fix tag Change to KC HRW-Chicago SRW Wheat Inter-Commodity Spread Options- June 10

Effective Sunday, June 10 (for trade date Monday, June 11), the values in the following FIX tags will be changed the KC HRW-Chicago SRW Wheat Inter-Commodity Spread options:

• iLink: tag 55-Symbol
• iLInk: tag 1151-SecurityGroup

FIX tag Changes for KC HRW-Chicago SRW Wheat Inter-Commodity Spread options
Product	MDP 3.0: tag 6937-Asset	Current iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	†New iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group (UDS)	New iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group (UDS)
KC HRW-Chicago SRW Wheat Intercommodity Spread Options	KWC	KW	Q3	KX	Y2

These changes will be available for customer testing in New Release on Monday, June 4.

To facilitate the change, customers are asked to cancel all Good ‘Till Cancel (GTC) and Good ‘Till Date (GTD) UDS after the close on June 8. After 16:00 CT on June 8, all remaining GT orders for these spreads will be cancelled or deleted by the CME Global Command Center (GCC).

These contracts are listed with, and subject to, the rules and regulations of CBOT.

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New New - Renaming Refined Product Futures  - June 10

Effective Sunday, June 10 (trade date Monday, June 11), the following Mini Naphtha futures contracts will be renamed as follows.

Refined Product Futures Contracts
Current Product Name	New Product Name	iLink: tag 1151-Security Group MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group
Mini Naphtha (Free Spec) Cargoes CIF NWE (Argus) Futures	Mini Naphtha Cargoes CIF NWE (Argus) Futures	NCF	RF
Mini Naphtha (Free Spec) Cargoes CIF NWE (Argus) Crack Spread (100mt) Futures	Mini Naphtha Cargoes CIF NWE (Argus) Crack Spread (100mt) Futures	NCC	RF

These changes will be available for customer testing in New Release on Monday, June 4.

These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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Listing Cycle Changes and Delisting of E-mini Nifty 50 Index Futures - June 28

On Monday, February 26, the E-mini Nifty 50 Index futures September 2018 and December 2018 contract months were removed from CME Globex.  With this change, the June 2018 contract will be the last available contract month listed for trading. Following the expiration of the June 2018 contract month, on Thursday, June 28, E-mini Nifty 50 Index futures will be delisted and removed from CME Globex at the close of business.

Listing Cycle Changes and Delisting of E-mini Nifty 50 Index Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current Listing Schedule	New Listing Schedule
E-mini Nifty 50 Index Futures	MNF	FN	Four months in the March Quarterly Cycle and two nearest serial months	Monthly contracts listed up to and including June 2018

These contracts are listed with, and subject to, the rules and regulations of CME.

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Events and Announcements

New New - 10Gbps Offering  - June 1

To allow for greater than 1Gbps connectivity for market data distribution, CME Group will begin offering a 10Gbps fiber interface for CME LNet, EConnect, EConnect Secaucus and Globex Hub customers.  Interested customers can begin ordering the 10Gbps fiber interface from CME Group starting Friday, June 1.  By Monday, October 1, CME Group expects the bandwidth for the full market data feed to exceed 1Gbps and will modify traffic shaping to 2Gbps. For those customers that order the 10Gbps fiber interface, 1Gbps pricing will be in effect until Monday, October 1 when customers will be charged for 10Gbps as reflected in the chart below.

Offering	1Gbps Monthly  Customer Fee	10Gbps Monthly Customer Fee
CME LNet	$8,000	$12,000
CME EConnect	$4,000	$6,000
CME EConnect Secaucus	$4,000	$6,000
CME Globex Hubs	$1,000	$2,000

All CME LNet, EConnect, EConnect Secaucus and Globex Hub customers should review their existing market data subscriptions and determine which option they will use based on their bandwidth needs. 
Options to consider:

• Limit market data subscriptions to 1Gbps of bandwidth
• Choose to have multiple 1Gbps connections (additional monthly fee)
• Upgrade to a 10Gbps interface (new monthly fee)   
• License space in CME Group Colocation Facility          

Key Dates:

• June 1, 2018 –  CME Group begins accepting 10Gbps fiber interface orders for CME LNet, EConnect, EConnect Secaucus and Globex Hubs
• October 1, 2018 – CME Group will modify traffic shaping to 2Gbps and the regular fees for the 10Gbps interface offering will go into effect

Additional Resources:

• Bandwidth statistics, by channel: www.cmegroup.com/bandwidthstats

For more information on the 10Gbps offering, please contact your Global Account Manager.

Global Account Management
U.S.: +1 312 634 8700 globalaccountmanagement@cmegroup.com
Europe: +44 20 3379 3754 gamemea@cmegroup.com
Asia: +65 6593 5505 gamasia@cmegroup.com

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CME Group to List USD Eris Interest Rate Swap Futures - 4Q 2018

As previously announced, Eris Swap futures will be listed with and subject to the rules and regulations of CBOT starting in the fourth quarter of 2018, and existing open interest in the contracts will be transferred to CME Group at that time. The Eris futures will trade alongside the MAC Swap Futures, bringing together the two leading interest rate swap futures on a single exchange venue. Until the migration in late 2018, Eris Swap Futures will remain listed at Eris Exchange and cleared at CME Clearing, where they are subject to margin offsets with CME Group's interest rate futures.

An FAQ on the change is currently available.

Technical information on the launch and API considerations will be available in future CME Globex Notices.

 

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