CME Globex Notices: June 11, 2018

Critical System Updates

MDP 3.0 Performance Enhancements - June 24

Effective Sunday, June 24 (trade date Monday, June 25), 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 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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New New - Covered UDS Max Order Quantity Enhancement   - June 24

Effective Sunday, June 24 (trade date Monday, June 25), CME Globex will enhance the maximum quantity allowed for a Covered User Defined Spread (UDS). 

A Covered UDS with a single outright option:

The maximum quantity of the option product will be recognized as the maximum order quantity for the entire UDS.

A Covered UDS with an option spread (Combo):

The maximum quantity of the option product will be recognized as the maximum order quantity for the entire UDS and the spread quantity will be used in validating the maximum order quantity.  (e.g. in the treasury options a user can trade 49,999 covered butterflies which would be 49,999 x 99,998 x 49,999 x futures quantity)

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

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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, June 3 – Friday, June 29: $500/session/month

Only Secure Logons will be supported starting:

• Monday, June 11 - in New Release
• Sunday, July 1 - in Production

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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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, all 2-Year Treasury Future Spreads (including Calendar Spreads, Tail Spreads and Inter-Commodity Spreads with a 2-Year Treasury Future) along with the futures portion of covered options UDS, 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.

†With this release, customer certification will be required for MDP 3.0 and Streamlined SBE.  The new Market Data templates are currently available in New Release and the AutoCert+ tool will be available for certification beginning Sunday, June 17.

Starting Sunday, August 12, the price precision extension rollout will begin with MDP 3.0 in production over several weekend.

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:

 

 

Customer Mock Trading Sessions:

To ensure customers can process the market data, CME Group will offer three customer mock trading sessions prior to each schema rollout group and Globex test instrument launch:

• Saturday, July 28
• Saturday, August 25
• Saturday, October 20

Customers are required to register and join the conference bridge line to participate in the mock trading sessions.

For complete impacts, rollout information and dates, please 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 are now available in New Release with 1/8 of 1/32 tick.

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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 available in New Release 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

Wet Freight Baltic Mini Daily Futures  - June 24

Effective Sunday, June 24 (trade date Monday, June 25), these Wet Freight Baltic Mini Daily futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

Wet Freight Baltic Mini Daily Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
Mini Freight Route TC2 (Baltic) Daily Futures	TMD	FT	386
Mini Freight Route TC14 (Baltic) Daily Futures	T4D	FT	386
Mini Freight Route TD3C (Baltic) Daily Futures	TLD	FT	386
Mini Freight Route TD20 (Baltic) Daily Futures	T2M	FT	386

These wet freight Baltic Mini Daily futures are currently available for customer testing in New Release.

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

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Light Sweet Crude vs. Brent Crude Last Day Financial Spreads - July 1

Effective Sunday, July 1 (trade date Monday, July 2), calendar spreads between the Light Sweet Crude Oil futures vs. Brent Crude Oil Last Day Financial futures Inter-Commodity spreads will be listed on CME Globex and for submission for clearing via CME Clearport.

Light Sweet Crude Futures vs. Brent Crude Oil Last Day Financial Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Tag 762- SecuritySubType	Listing Cycle
Light Sweet Crude Oil Futures vs Brent Crude Oil Last Day Financial Futures	CL	IE	IP (Inter-Commodity Spread)	The first 12 months, Jan-Mar, Mar-Jun, Jun-Sep and Sep-Dec for the nearest 12 months and all combinations of Jun-Dec for nearest 48 months

The spreads will be made available for customer testing in New Release on Monday, June 18.

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

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Freight Platts Futures - July 1

Effective Sunday, July 1 (trade date Monday, July 2), the following Freight Platts futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

Freight Platts Monthly Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
Freight Route TC5 (Platts) BALMO Futures	THB	FT	386
Freight Route TD3C (Platts) Futures	TD3	FT	386
Freight Route TD3C (Platts) BALMO Futures	T3B	FT	386

These Freight Platts futures will be available for customer testing in New Release on Monday, June 25.

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

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Eris Swap Futures on Globex - 4Q 2018

In Q4 2018, pending regulatory approval, CME Group will list Eris Swap Futures on the CBOT designated contract market (DCM) for trading on CME Globex. Eris swap futures Block Trade transactions can also be submitted via CME Direct or CME ClearPort.

The Eris Swap futures will function similarly and trade alongside the MAC Swap Futures, bringing together the two leading interest rate swap futures on a single exchange venue.

Eris  Swap futures will be listed for quarterly IMM starting contracts, with fixed MAC coupons, and underlying tenors of 2, 3, 4, 5, 7, 10, 12, 15, 20, and 30-years.

The Client Impact Assessment includes information on the following:

• Order Entry Considerations
  • Pricing conventions
  • Trading Eligibility
• Market Data Considerations
  • Market Data Channels
  • Product Specifications
    • Eris Swap Futures Security Type
    • Eris Swap Futures Product Code
    • Standard Calendar Spreads (SP)
    • Changing Minimum Price Increment
    • Contract Month Convention
  • Eris Swap Futures Market Data through CME DataMine.
  • Risk Management Services

These futures will be made available in New Release for customer testing on a date to be announced in a future Globex notice.

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Product Changes

FIX Tag Changes for CBOT Grain Options UDS Group - June 24

Effective Sunday, June 24 (for trade date Monday, June 25), the values in the following FIX tags will be changed for CBOT Grain options UDS group:

• iLink: tag 55-Symbol
• MDP 3.0 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 are currently available for customer testing in New Release.

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 22. After 16:00 CT on June 22, 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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FIX Tag Change to KC HRW-Chicago SRW Wheat Inter-Commodity Spread Options - June 24

Effective Sunday, June 24 (for trade date Monday, June 25), the values in the following FIX tags will be changed the KC HRW-Chicago SRW Wheat Inter-Commodity Spread options:

• iLink: tag 55-Symbol
• MDP 3.0 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 are currently available for customer testing in New Release.

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 22. After 16:00 CT on June 22, 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 - Match Algorithm Changes for Soybean August-November Calendar Spread Options - June 24

† Denotes update to the article

Effective Sunday, June 24 (trade date Monday, June 25), the match algorithm will change from Split FIFO and Pro-Rata (tag 1142=K) to Threshold Pro-Rata (tag 1142=O) for the Soybean August-November Calendar Spread options. This change is to support the Fix Tag Changes for CBOT Grain Options UDS Group to allow all grain options to share the same matching algorithm. There will be no impact to the trading functionality.

Match Algorithm Changes for Soybean August-November Calendar Spread Options
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	†iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group (UDS)
Soybean August-November Calendar Spread Options	SZ4	Q1	†Q2

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

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

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Listing Cycle Expansion for Freight Route Futures - June 24

Effective Sunday, June 24 (trade date Monday, June 25), the listing cycle for the following Freight Route futures will be expanded on CME Globex.

Listing Cycle Expansion for Freight Route 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
Freight Route TD20 (Baltic) Futures	T2D	FT	Monthly contracts listed for the current year and the next 2 calendar years	Monthly contracts listed for the current year and the next 3 calendar years
Freight Route TD20 (Baltic) Futures	TL	FT	Monthly contracts listed for the current year and the next 2 calendar years	Monthly contracts listed for the current year and the next 3 calendar years
Freight Route TC2 (Baltic) Futures	TM	FT	Monthly contracts listed for the current year and the next 2 calendar years	Monthly contracts listed for the current year and the next 3 calendar years
Freight Route TC14 (Baltic) Futures	FRC	FT	Monthly contracts listed for the current year and the next 2 calendar years	Monthly contracts listed for the current year and the next 3 calendar years
Freight Route TC5 (Platts) Futures	TH	FT	Monthly contracts listed for the current year and the next 2 calendar years	Monthly contracts listed for the current year and the next 3 calendar years

In addition to the above listing cycle expansions we will also be harmonizing all rollover schedules to be annual on expiry of the December contract.

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

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

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Renaming Brent CFD Future  - June 24

Effective Sunday, June 24 (trade date Monday, June 25), Brent CFD futures will be renamed to the following:

Renaming Brent CFD Futures
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
Brent CFD: Dated Brent (Platts) vs. Brent Third Month (Platts) Daily Futures	Dated Brent (Platts) vs. Brent Second Month (BFOE) (Platts) Daily CFD Futures	A59	BB
Brent CFD: Dated Brent (Platts) vs. Brent Second Month (Platts) Daily Futures	Dated Brent (Platts) vs. Brent First Month (BFOE) (Platts) Daily CFD Futures	A6W	BB
Brent CFD: Dated Brent (Platts) vs. Brent Second Month (Platts) Weekly Futures	Dated Brent (Platts) vs. Brent First Month (BFOE) (Platts) Weekly Futures	CFB	BB
Brent CFD: Dated Brent (Platts) vs. Brent Third Month (Platts) Weekly Futures	Dated Brent (Platts) vs. Brent Second Month (BFOE) (Platts) Weekly Futures	CFC	BB

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

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

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New New - TOP Order Allocation Minimum/Maximum Quantity Changes  - June 24

Effective Sunday, June 24 (trade date Monday, June 25), the TOP order allocation minimum and maximum quantity will be increased for the following Kansas City Wheat options.  This change is designed to harmonize TOP behavior across the CBOT options.

TOP Order Allocation Minimum/Maximum Quantity Changes
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group (UDS)	TOP Order Allocation Minimum Current	TOP Order Allocation Minimum New	TOP Order Allocation Maximum Current	TOP Order Allocation Maximum New
KC HRW Wheat Options	OKE	OK	1G	5	10	10	100
KC HRW Wheat Weekly Options	OE1-OE5	OK	1G	5	10	10	100
Short-Dated New Crop KC HRW Wheat Options	KWE	OK	1G	5	10	10	100
KC Wheat CSOs	KC6, KCR, 12K, CKZ, CK3, KZC	K3	K4	5	10	10	100

These changes will be available for customer testing in New Release on Monday, June 18.

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

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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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Changes to Gold Options Matching Algorithm - July 1

Effective Sunday, July 1 (trade date Monday, July 2), the match algorithm will be changed from FIFO (tag 1142=F) to Split FIFO and Pro-Rata (tag 1142=K) for Gold options, Gold Weekly options, and spreads on CME Globex.

Changes to Gold Options Matching Algorithm
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group (UDS)
Gold Options	OG	OG	1Y
Gold Weekly Options	OG1-OG5	OG	1Y

This change will be available for customer testing in New Release on Monday, June 25.

To facilitate the change, customers are asked to cancel all Good ‘Till Cancel (GTC) and Good ‘Till Date (GTD) orders after the close on Friday, June 29. After 16:00 CT on Friday, June 29, all remaining GT orders for these options and 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 COMEX.

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New New - Change to Minimum Price Increment for BTIC on S&P Total Return Index Futures  - July 1

Effective Sunday, July 1 (trade date Monday, July 2), the minimum price increment tag 969-MinPriceIncrement will be changed for the following.

BTIC on S&P Total Return Index Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current tag 969 - MinPriceIncrement	New tag 969 - MinPriceIncrement
BTIC on S&P 500 Total Return Index Futures	TRB	TB	0.10	0.05