CME Globex Notices: March 11, 2019

Critical System Updates

SenderSubID Validation on iLink Messages - March 31

Pending all relevant CFTC regulatory review periods, effective Sunday, March 31, CME Globex will validate iLink FIX tag 50-SenderSubID on all iLink messages.

All Tag 50 IDs must meet the following criteria:

• at least 2 bytes (characters) in length
• include alpha and/or numeric characters
• may include only the following non-alpha numeric characters
  • _ underscore
  • - dash
  • : colon
  • @ (commercial) at
  • . period

Any iLink message submitted with an invalid  tag 50 value will be rejected. CME Globex will send a Session Level Reject (tag 35-MsgType=3) message including tag 58=<Reject Reason>.

Reject Reason	Tag 58-Text
Invalid length	Business Reject: Other '50 (SENDER_SUB_ID) length: 1 min: 2'
Invalid character	tag SenderSubID (50) can contain only alphanumeric values

This validation is now available for customer testing in New Release.

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Consolidated iLink Fill Messages for BMD and KRX - May 19

On Sunday, May 19 (trade date Tuesday, May 21), CME Group will continue to launch consolidated iLink fill messages on CME Globex to reduce the number of iLink Execution Report - Fill messages. With this launch, CME Globex will consolidate Fill Execution Reports. Currently, when an aggressor order matches with multiple resting orders, CME Globex sends execution reports to the aggressor for each individual resting order.

As a result of fewer consolidated fill execution reports being disseminated, MDP 3.0 Trade Summary Messages (tag 35-MsgType=X, tag 269-MDEntryType=2) will be published up to 80 microseconds faster than today, in internal testing.

The key client system impacts of consolidated iLink fill messages include:

• iLink Fill Behavior Change
• New repeating group for Fill Reason

Consolidated iLink Fill Messages Timeline
Market Segment ID	Market Segment Description	New Release Launch	Production Launch
74	BMD Futures and Options	Available	Sunday, May 19 (trade date Tuesday, May 21)
	KRX Futures		Sunday, June 2(trade date Monday, June 3)

Please review the Client Impact Assessment and view a brief explanatory video for additional information on Consolidated iLink Fill Messages.

Consolidated iLink Fill Messages Frequently Asked Questions (FAQ) is now available.

Certification is not required for Consolidated iLink Fill Messages.

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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Changes to User Defined Spreads Functionality: Resting Order Eliminations  - Q2 2019

In Q2 2019, CME Group will implement the following changes to User Defined Spreads (UDS) functionality on CME Globex:

• Performance changes
• Improved spread recognition logic
• Extended timing for UDS creation
• Effects of UDS creation in non-Open Market states
• Changes to tag 5979-RequestTime value
• Harmonization of SecurityID Source values

Please Note: To facilitate this change, customers will be asked to cancel all Good ‘Till Cancel (GTC) and Good ‘Till Date (GTD) orders for User-Defined Spreads (UDS) only for the affected products by the close on Friday before the production launch. After 16:00 CT on specified Friday, any remaining GT orders on UDS will be cancelled or deleted by the CME Global Command Center (GCC).

Please review the Client Impact Assessment for additional information and New Release launch schedule.

Changes to User Defined Spreads Functionality
Market Segment ID	Market Segment Description	New Release Launch	Production Launch
50 52 68 70 72 76 78 88	CME Interest Rate Options CME Globex FX Futures and Options II CME Equity Futures II; CBOT Equity Futures CME, CBOT and MGEX Commodity Futures CBOT Commodity Futures II NYMEX and COMEX Metals and Alternative Market Futures NYMEX Emissions and Non-Crude Energy Futures CME Globex FX Futures and Options	Available	Q2 2019
Market Segment ID	Market Segment Description	New Release Launch	Production Launch
54 56 58 60 64 74 80 82 84	CBOT and CME Equity Options NYMEX Emissions Options; NYMEX Energy, Metals, Softs and Alternative Markets Options; COMEX Options; DME Options CBOT Interest Rate Options CME, CBOT and MGEX Commodity Options CME Equity Futures - E-mini S&P KRX Futures; BMD Futures and Options DME Futures; NYMEX Crude and Crude Refined Energy Futures CME Interest Rate Futures CBOT Interest Rate Futures	Available	Q2 2019

If you have any questions or concerns, please contact your Global Account Manager 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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Decommission of Select ITC Market Data - November 1

Effective at the close of business Friday, November 1, select ITC market data functions will be decommissioned in favor of an architecture that will support price decimals beyond 7 digits. As the result of the launch of SBE Settlements and Valuations and CME Reference Data API, many ITC data functions will become redundant and will be decommissioned.

There will be a 6-month parallel period from the Settlements and Valuations production launch and decommission of select ITC market data. There will be the following ITC market data impacts:

• NYMEX, COMEX and DME ITC channels will be eliminated
• Futures and options settlements
• Cleared volume and open interest
• Cumulative volume
• High/Low/Last prices
• Fixing prices
• Marker prices
• Close prices
• Net change
• Lead month indicator
• Flex options
• Contract specifications
• Index prices

Real-time trading floor data, such as trades, will continue to be disseminated on ITC channels for CME, CBOT, and MGEX.

Please review the Client Impact Assessment for additional information and decommission schedules.

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iLink Mandatory Order Handling Flag  - November 17

Effective Sunday, November 17, 2019 (trade date Monday, November 18), in conjunction with the Futures Industry Association (FIA) Execution Code Schema initiative, CME Globex will require the current iLink FIX tag 1031-CustOrderHandlingInst on the following iLink messages.

Tag 1031 must be submitted on the following messages:

• New Order (tag 35-MsgType=D)
• Order Cancel/Replace Request (tag 35-MsgType=G)
• Mass Quote (tag 35-MsgType=i)

Please Note: Tag 1031 will continue to be an optional tag on the New Order Cross (tag 35-MsgType=s)message.

Tag 1031 will be returned on the following iLink messages:

• Execution Report: Order Creation or Modify (tag 35-MsgType=8, OrdStatus=0 or 5)
• Execution Report - Fill Notice (tag 35-MsgType=8, tag 39-OrdStatus=1 or 2)
• Execution Report - Reject (tag 35-MsgType=8, tag 39-OrdStatus=8)
• Execution Report - Order Elimination (tag 35-MsgType=8, tag 39-OrdStatus=C, tag 150-ExecType=F) 
• Quote Acknowledgment (tag 35-MsgType=b)
• Business Level Reject (tag 35-MsgType=j)
• Session Level Reject (tag 35=3)

All tag 1031 must be populated by the following valid values:

• W - Desk
• Y - Electronic (Default)
• C - Vendor-provided Platform billed by Executing Broker
• G - Sponsored Access via Exchange API or FIX provided by Executing Broker
• H - Premium Algorithmic Trading Provider billed by Executing Broker
• D - Other, including Other-provided Screen

Learn more on the FIA guidelines on how to identify the source of any order:

• Press Release
• Summary
• White paper

With this launch, CME Globex will validate tag 1031 on iLink messages.   Any iLink message submitted with an invalid  tag 1031 value will be rejected. CME Globex will send a reject message including the following tag 58=<Reject Reason>.

Message Type	Reject Message Type	Reject Reason	Reject Code (tag 380-BusinessRejectReason)	Tag 58-Text
New Order (tag 35-MsgType=D) Order Cancel/Replace Request (tag 35-MsgType=G)	Session Level Reject (tag 35-MsgType=3)	Not present Present, but contain a null value Present, but contain an invalid value	N/A	Required Field Missing 'Missing field: 'CustOrderHandlingInst (1031)' Invalid FIX Field: 1031=<null> tag CustOrderHandlingInst (1031) contains invalid value:  <>
Mass Quote (tag 35-MsgType=i)	Business Level Reject (tag 35-MsgType=j) Session Level Reject (tag 35-MsgType=3)	Not present Present, but contain an invalid value Present, but contain a null value	5 0 N/A	Business Reject: Required Field Missing '1031 (CUST_ORDER_HANDLING_INST)' tag CustOrderHandlingInst (1031) contains invalid value:  <> Invalid FIX Field: 1031=<null>

To facilitate migration to the mandatory iLink tag 1031, customers can implement this change in advance of the effective date.

Tag 1031 will be available in New Release for customer testing on Monday, August 26.

Certification is not required for iLink Mandatory Order Handling Flag.

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New Functionality

iLink Enhancement for End-to-End Note Field - March 31

Effective Sunday, March 31 (trade date Monday, April 1), in response to customer requests, iLink order entry will launch a new FIX tag 5149-Memo. This new tag will allow customers to submit a free-form Note with orders to help facilitate with end-of-day trade reconciliation between trading and clearing firms.

When tag 5149-Memo is submitted on the iLink inbound messages, it will be returned on all associated iLink outbound messages. iLink tag 5149-Memo values will be passed through to Drop Copy and CME STP.

The new iLink tag 5149 can be submitted on the following messages:

• New Order (tag 35-MsgType=D)
• Order Cancel/Replace Request (tag 35-MsgType=G)
• Order Cancel Request (tag 35-MsgType=F)
• Order Mass Action Request (tag 35-MsgType=CA)
• Quote Request (tag 35-MsgType=R)
• Security Definition Request (tag 35-MsgType=c)
• New Order Cross (tag 35-MsgType=s)
  • For Request for Cross (“RFC”) order, customers can submit tag 5149 on each buy and sell repeating group. Each acknowledgment and execution report for the buy and the sell orders will contain the corresponding tag 5149 value from the correct buy and sell repeating group.
• Mass Quote (tag 35-MsgType=i)
• Quote Cancel (tag 35-MsgType=Z)

Tag 5149 will be returned on the following iLink messages only when it is sent on the originating message:

• Execution Report: Order Creation or Modify (tag 35-MsgType=8, OrdStatus=0 or 5)
• Execution Report: Order Cancel (tag 35-MsgType=8, OrdStatus=4)
• Execution Report: Fill Notice (tag 35-MsgType=8, tag 39-OrdStatus=1 or 2)
• Execution Report: Order Elimination (tag 35-MsgType=8, tag 39-OrdStatus=4 or C)
• Execution Report: Reject (tag 35-MsgType=8, tag 39-OrdStatus=8)
• Execution Report: Trade Cancel (tag 35-MsgType=8, tag 39-OrdStatus=H)
• Order Cancel and Order Cancel/Replace Reject (tag 35-MsgType=9)
• Order Mass Action Report (tag 35-MsgType=BZ)
• Quote Acknowledgment (tag 35-MsgType=b)
• Quote Cancel Acknowledgment (tag 35-MsgType=b, tag 297-QuoteAckStatus=1, 3, 4 or 5)
• Security Definition (tag 35-MsgType=d)
• Business Level Reject (tag 35-MsgType=j)

tag 5149-Memo
Tag	FIX Name	Req	Valid Values	Format	Description
5149	Memo	N	--	String (75)	Allows users to submit a free-form Note tag with a customer order and persists from order entry through clearing

If tag 5149-Memo value on inbound messages exceeds the max length of 75 bytes, iLink will return a truncated 75 bytes from the right on the response.

Certification is not required for iLink and Drop Copy customers who wish to use the new tag 5149.

Tag 5149-Memo is currently available in New Release for customer testing.

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iLink Enhancement for Clearing Instructions - March 31

Effective Sunday, March 31 (trade date Monday, April 1), iLink order entry will support new FIX tags to instruct CME Clearing House to clear CME Globex trades in a particular way. Currently, special characters in tag 1-Account are used to signal post-trade instructions. With this launch, the following new FIX tags will be used for post-trade clearing instructions on customer orders:

• Tag 819-AvgPxIndicator and tag 1731-AvgPxGroupID will be added to iLink messages to allow customers to group their trades so that they can be calculated and processed as average price trades for Clearing.
• Tag 1598 - ClearingTradePriceType will be added to iLink messages to indicate whether the front month leg of the Single Line Entry Differential Spreads (SLEDS) should clear at the market price where they were matched or to clear at the prior day’s settlement price

Please note: Both new clearing instruction tag and special character in tag 1-Account will be supported until further notice.  If both tags are submitted, new clearing instruction tag will take precedence.

When these new tags are submitted on the iLink inbound messages, it will be returned on all associated iLink outbound messages.

Drop Copy will also support these new tags at launch.

These new tags can be submitted on the following messages:

• New Order (tag 35-MsgType=D)
• Order Cancel/Replace Request (tag 35-MsgType=G)
• New Order Cross (tag 35-MsgType=s)
  • For Request for Cross (“RFC”) order, customers can submit tag 819, tag 1731, and tag 1598 on each buy and sell repeating group. Each acknowledgment and execution report for the buy and the sell orders will contain the corresponding tag values from the correct buy and sell repeating group.
• Mass Quote (tag 35-MsgType=i)

These new tags will be returned on the following iLink messages only when it is sent on the originating message:

• Execution Report: Order Creation or Modify (tag 35-MsgType=8, OrdStatus=0 or 5)
• Execution Report: Order Cancel (tag 35-MsgType=8, OrdStatus=4)
• Execution Report: Fill Notice (tag 35-MsgType=8, tag 39-OrdStatus=1 or 2)
• Execution Report: Order Elimination (tag 35-MsgType=8, tag 39-OrdStatus=4 or C)
• Execution Report: Reject (tag 35-MsgType=8, tag 39-OrdStatus=8)
• Execution Report: Trade Cancel (tag 35-MsgType=8, tag 39-OrdStatus=H)
• Quote Acknowledgment (tag 35-MsgType=b)

Clearing Instruction
Tag	FIX Name	Req	Valid Values	Format	Description
819	AvgPXIndicator	N	0 – No Average Pricing (Default) 1 – Trade is part of an Average Price Group Identified by the AvgPxGroupID 3 - Notional Value Average Pricing with Average Price Group Identified by the AvgPxGroupID	String (3)	Indicates if the resulting trade is to be average priced or not. This tag is also used to indicate type of average price grouping.
1731	AvgPxGroupID	N	--	String (20)	Used to identify account numbers or orders for grouping trades together for average price calculations. If incoming value is greater than max length, iLink will return the right most twenty bytes.
1598	ClearingTrade PriceType	N	0 – Trade Clearing at Execution Price 1 – Trade Clearing at Alternate Clearing Price	String (1)	Indicates whether spread differential trade is clearing at execution price (Tag 31-LastPx) or alternate clearing price (i.e. previous day’s settlement price).

Certification is not required for iLink and Drop Copy customers who wish to use these new tags.

The new clearing instruction tags are currently available in New Release for customer testing.

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UpdateUpdate - Launch of Settlements and Valuations Market Data  - April 28

† Denotes update to the article

Effective Sunday, April 28 (for trade date Monday, April 29), CME Group will launch a new Simple Binary Encoding (SBE) Market Data Channels (MDP) called Data Insights: Settlements and Valuations. This new channel is designed to provide more robust market data for CME Globex, OTC and floor venues.

The new Data Insights: Settlements and Valuations channels will offer:

• Four new market data channels for CME, CBOT, NYMEX and COMEX
• New data set called Theoretical Valuations for futures and options products without volume, open interest, or underlying pricing required for clearing.
  • Theoretical Valuations are the true asset values that can be used for margin modeling, compliance, risk management and firms' other specific needs where settlements are not generated.
  • Sourcing Theoretical Valuations directly from CME Group provides customers with certainty as the data points are validated by the exchange.
• Fixing prices
• Marker prices
• Futures and options settlements
• End of day High/Low prices
• Cleared volume and open interest

With the launch of Data Insights: Settlements and Valuations MDP channel, most ITC market data will be decommissioned in favor of more robust market data offering. For additional information, please review Decommission of Select ITC Market Data article.

Please review the Client Impact Assessment for additional information and launch schedules.

† The production config.xml file is now available.

Availability of licensing requirements and Commercial Terms of use for Data Insights: Settlements and Valuations will be announced in a future communication from CME Group.

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Product Launches

NewNew - Tanker Freight Futures - March 31

Effective Sunday, March 31 (trade date Monday, April 1), pending completion of all regulatory review periods, Tanker Freight futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

Tanker Freight Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
Freight Route TD25 (Baltic) Futures	AEB	FT	386
Freight Route TD22 (Baltic) Futures	ACB	FT	386

These products will be available for customer testing in New Release on Monday, March 18.

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

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NewNew - Japan Crude Cocktail (Detailed) Futures  - March 31

Effective Sunday, March 31 (trade date Monday, April 1), pending completion of all regulatory review periods, Japan Crude Cocktail (Detailed) futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

Japan Crude Cocktail (Detailed) Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
Japan Crude Cocktail (Detailed) Futures	JCC	GU	386

The Japan Crude Cocktail (Detailed) futures will be available for customer testing in New Release on Monday, March 18.

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

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Product Changes

Changes to Various S&P 500 and E-mini S&P 500 Options - This Week

Effective Sunday, March 17 (trade date Monday, March 18), the strike price listing rules will be changed for the following various S&P 500 Options and E-mini S&P 500 options.

Changes to Various S&P 500 and E-mini S&P 500 Options
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current Strike Price Listing Rule	New Strike Price Listing Rule
S&P 500 Quarterly Options	SP	OS	ATM ± 50% of Exercise Reference Price in 25 Index points intervals   ATM ± 20% of Exercise Reference Price in 10 Index Points Interval ATM ± 10% of Exercise Reference Price in 5 Index Points Interval for nearest	ATM +30% and ATM -50% in 100 Index points intervals   ATM +20% and ATM -40% in 50 Index points intervals ATM +10% and ATM -25% in 10 Index points intervals for nearest 2 Quarterly months ATM +5% and ATM -15% in 5 Index points intervals for nearest Quarterly 35 days prior to its expiry
S&P 500 End of the Month Options	EV	OS	ATM ± 50% of Exercise Reference Price in 25 Index points intervals   ATM ± 20% of Exercise Reference Price in 10 Index Points Interval ATM ± 10% of Exercise Reference Price in 5 Index Points Interval for nearest	ATM +30% and ATM -50% in 100 Index points intervals   ATM +20% and ATM -40% in 50 Index points intervals ATM +10% and ATM -25% in 10 Index points intervals ATM +5% and ATM -15% in 5 Index points intervals for nearest expiring month 35 days prior to its expiry
S&P 500 (3rd Friday) Non-Quarterly Options	EV3	OS
S&P 500 Friday Weekly (Non-3rd Friday) Options	EV1 – EV4	OS	ATM +15% and ATM -35% in 25 Index points intervals ATM +10% and ATM -25% in 10 Index points intervals ATM +5% and ATM -15% in 5 Index points intervals	ATM +30% and ATM -50% in 100 Index points intervals ATM +20% and ATM -40% in 50 Index points intervals ATM +10% and ATM -25% in 10 Index points intervals ATM +5% and ATM -15% in 5 Index points intervals
S&P 500 Monday Weekly Options	S1A – S5A	OS
S&P 500 Wednesday Weekly Options	S1C – S5C	OS
E-mini S&P 500 Quarterly Options	ES	EW	ATM ± 50% of Exercise Reference Price in 25 Index points intervals   ATM ± 20% of Exercise Reference Price in 10 Index Points Interval ATM ± 10% of Exercise Reference Price in 5 Index Points Interval for nearest	ATM +30% and ATM -50% in 100 Index points intervals   ATM +20% and ATM -40% in 50 Index points intervals ATM +10% and ATM -25% in 10 Index points intervals for nearest 2 Quarterly months ATM +5% and ATM -15% in 5 Index points intervals for nearest Quarterly 35 days prior to its expiry
E-mini S&P 500 End of the Month Options	EW	EW	ATM ± 50% of Exercise Reference Price in 25 Index points intervals   ATM ± 20% of Exercise Reference Price in 10 Index Points Interval ATM ± 10% of Exercise Reference Price in 5 Index Points Interval for nearest	ATM +30% and ATM -50% in 100 Index points intervals ATM +20% and ATM -40% in 50 Index points intervals ATM +10% and ATM -25% in 10 Index points intervals ATM +5% and ATM -15% in 5 Index points intervals for nearest expiring month 35 days prior to its expiry
E-mini S&P 500 (3rd Friday) Non-Quarterly Options	EW3	EW
E-mini S&P 500 Friday Weekly (Non-3rd Friday) Options	EW1 – EW4	EW	ATM +15% and ATM -35% in 25 Index points intervals ATM +10% and ATM -25% in 10 Index points intervals ATM +5% and ATM -15% in 5 Index points intervals	ATM +30% and ATM -50% in 100 Index points intervals ATM +20% and ATM -40% in 50 Index points intervals ATM +10% and ATM -25% in 10 Index points intervals ATM +5% and ATM -15% in 5 Index points intervals
E-mini S&P 500 Monday Weekly Options	E1A – E5A	EW
E-mini S&P 500 Wednesday Weekly Options	E1C – E5C	EW

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

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

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NewNew - Circuit Breaker Amendments for Certain Metals and Energy Futures - March 31

Effective Sunday, March 31 (trade date Monday, April 1), and pending all relevant CFTC regulatory review periods, circuit breaker values will be modified for the following Metals and Energy futures.

Circuit Breaker Amendments for Certain Metals and Energy Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current Special Price Fluctuation Limits	New Special Price Fluctuation Limits
Gold Futures	GC	GC	Level 1: 900 Level 2: 1800 Level 3: 2700 Level 4: 3600 Level 5: No Limit	5% of dynamically calculated reference price
E-micro Gold Futures	MGC	GC	Level 1: 900 Level 2: 1800 Level 3: 2700 Level 4: 3600 Level 5: No Limit	5% of dynamically calculated reference price
Gold Kilo Futures	GCK	GC	Level 1: 900 Level 2: 1800 Level 3: 2700 Level 4: 3600 Level 5: No Limit	5% of dynamically calculated reference price
E-mini Gold Futures	QO	GC	Level 1: 9000 Level 2: 18000 Level 3: 27000 Level 4: 36000 Level 5: No Limit	5% of dynamically calculated reference price
Silver Futures	SI	SI	Level 1: 1200 Level 2: 2400 Level 3: 3600 Level 4: 4800 Level 5: No Limit	5% of dynamically calculated reference price
1,000-oz. Silver Futures	SIL	SI	Level 1: 1200 Level 2: 2400 Level 3: 3600 Level 4: 4800 Level 5: No Limit	5% of dynamically calculated reference price
E-mini Silver Futures	QI	SI	Level 1: 12000 Level 2: 24000 Level 3: 36000 Level 4: 48000 Level 5: No Limit	5% of dynamically calculated reference price
Copper Futures	HG	HG	Level 1: 2000 Level 2: 4000 Level 3: 6000 Level 4: 8000 Level 5: No Limit	5% of dynamically calculated reference price
E-mini Copper Futures	QC	HG	Level 1: 200 Level 2: 400 Level 3: 600 Level 4: 800 Level 5: No Limit	5% of dynamically calculated reference price
Copper Financial Futures	HGS	HG	Level 1: 200 Level 2: 400 Level 3: 600 Level 4: 800 Level 5: No Limit	5% of dynamically calculated reference price
Platinum Futures	PL	PL	Level 1: 650 Level 2: 1300 Level 3: 1950 Level 4: 2600 Level 5: No Limit	5% of dynamically calculated reference price
Palladium Futures	PA	PD	Level 1: 6000 Level 2: 12000 Level 3: 18000 Level 4: 24000 Level 5: No Limit	5% of dynamically calculated reference price
NY Harbor ULSD Futures	HO	CL	Level 1: 1500 Level 2: 3000 Level 3: 4500 Level 4: 6000 Level 5: No Limit	7% of dynamically calculated reference price
E-mini Heating Oil Futures	QH	CL	Level 1: 1500 Level 2: 3000 Level 3: 4500 Level 4: 6000 Level 5: No Limit	7% of dynamically calculated reference price
RBOB Futures	RB	CL	Level 1: 1500 Level 2: 3000 Level 3: 4500 Level 4: 6000 Level 5: No Limit	7% of dynamically calculated reference price
E-mini RBOB Gasoline Futures	QU	CL	Level 1: 1500 Level 2: 3000 Level 3: 4500 Level 4: 6000 Level 5: No Limit	7% of dynamically calculated reference price
Henry Hub Natural Gas Futures	NG	NG	Level 1: 300 Level 2: 600 Level 3: 900 Level 4: 1200 Level 5: No Limit	7% of dynamically calculated reference price
Henry Hub Natural Gas Last Day Physically-Delivered Futures	MNG	NG	Level 1: 300 Level 2: 600 Level 3: 900 Level 4: 1200 Level 5: No Limit	7% of dynamically calculated reference price
E-mini Natural Gas Futures	QG	NG	Level 1: 300 Level 2: 600 Level 3: 900 Level 4: 1200 Level 5: No Limit	7% of dynamically calculated reference price
Henry Hu Natural Gas Look-Alike Penultimate Financial Futures	HP	HX	Level 1: 300 Level 2: 600 Level 3: 900 Level 4: 1200 Level 5: No Limit	7% of dynamically calculated reference price
Henry Hub Natural Gas Penultimate Financial Futures	NPG	HX	Level 1: 300 Level 2: 600 Level 3: 900 Level 4: 1200 Level 5: No Limit	7% of dynamically calculated reference price
Henry Hub Natural Gas Look-Alike Last Day Financial Futures	HH	NG	Level 1: 300 Level 2: 600 Level 3: 900 Level 4: 1200 Level 5: No Limit	7% of dynamically calculated reference price
Henry Hub Natural Gas Last Day Financial Futures	NN	NG	Level 1: 300 Level 2: 600 Level 3: 900 Level 4: 1200 Level 5: No Limit	7% of dynamically calculated reference price
Henry Hub Natural Gas Last Day Financial Futures (Daily Units)	NNE	NG	Level 1: 300 Level 2: 600 Level 3: 900 Level 4: 1200 Level 5: No Limit	7% of dynamically calculated reference price
Light Sweet Crude Oil Futures	CL	CL	Level 1: 500 Level 2: 1000 Level 3: 1500 Level 4: 2000 Level 5: No Limit	7% of dynamically calculated reference price
E-mini Crude Oil Futures	QM	CL	Level 1: 500 Level 2: 1000 Level 3: 1500 Level 4: 2000 Level 5: No Limit	7% of dynamically calculated reference price
Crude Oil Financial Futures	WS	WS	Level 1: 500 Level 2: 1000 Level 3: 1500 Level 4: 2000 Level 5: No Limit	7% of dynamically calculated reference price
Brent Last Day Financial Futures	BZ	OP	Level 1: 500 Level 2: 1000 Level 3: 1500 Level 4: 2000 Level 5: No Limit	7% of dynamically calculated reference price

Note: The current 5-tier static price limit settings will be changed to a percentage of the prior trading day’s settlement price applied in rolling 60-minute look-back periods.

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

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

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COMEX Product Security Definition Update – Negative Pricing Eligible - March 31

Effective Sunday, March 31  (for trade date Monday, April 1), CME Group will update the  Security Definition messages (tag 35-MsgType=d) with tag 872-InstAttrbValue bit 10-Negative Price Eligibility with the value of 1 to support negative pricing for the following products.

COMEX Product Security Definition Update – Negative Pricing Eligible
Product Name	MDP 3.0 tag 6937-Asset	iLink tag 55-Symbol MDP3.0 tag 1151-SecurityGroup
Aluminium European Premium Duty-Unpaid (Metal Bulletin) Futures	AEP	ST
Aluminum Japan Premium (Platts) Futures	MJP	ST
Aluminum MW U.S. Transaction Platts (25MT) Futures	AUP	ST

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

This contract is listed with, and subject to, the rules and regulations of COMEX.

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NewNew - Listing Cycle Expansion for German Power Baseload Calendar Month Futures - March 31

Effective Sunday, March 31 (for trade date Monday, April 1), CME the listing cycle for the following German Power Baseload Calendar Month futures will be expanded on CME Globex.

German Power Baseload Calendar Month Futures
Product	MDP 3.0 tag 6937-Asset	iLink tag 55-Symbol MDP3.0 tag 1151-SecurityGroup	Current Listing Schedule	New Listing Schedule
German Power Baseload Calendar Month Futures	DEB	PW	Monthly contracts listed for the current year and the next 2 calendar years. Monthly contracts for a new calendar year will be added following the termination of trading in the December contract of the current year	Monthly contracts listed for the current year and the next 4 calendar years. Monthly contracts for a new calendar year will be added following the termination of trading in the November contract of the current year.

In addition to the extension of the listing schedule, please note that monthly contracts for a new calendar year will be added following the termination of trading in the November contract of the current year instead of the December contract.

This change will be available in New Release for customer testing on Monday, March 18.

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

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Change to Strike Price Listing Rule for Various FX Options - March 31

Effective Sunday, March 31, (trade date Monday, April 1), the strike price listing rule will be changed for various FX options as follows:

Change to Strike Price Listing Rule for Various FX Options
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current Strike Price Listing Rule	New Strike Price Listing Rule
British Pound/US Dollar Options (GBP/USD)	GBU	YB	ATM ± 48 Strikes in 0.005 increments	ATM ± 10 Strikes in 0.005 increments plus an additional 5 strikes in 0.010 increments for nearest Quarterly/Serial month   ATM ± 10 Strikes in 0.005 increments plus an additional 15 strikes in 0.010 increments for all other months
British Pound/US Dollar (GBP/USD) Weekly Friday Options	1BP – 5BP	YB	ATM ± 48 Strikes in 0.005 increments	ATM ± 10 Strikes in 0.005 increments plus an additional 5 strikes in 0.010 increments
British Pound/US Dollar (GBP/USD) Weekly Wednesday Options	WG1– WG5	YB	ATM ± 48 Strikes in 0.005 increments	ATM ± 10 Strikes in 0.005 increments plus an additional 5 strikes in 0.010 increments
Vol-Quoted British Pound/US Dollar Options (GBP/USD)	VXB	B3	ATM ± 48 Strikes in 0.005 increments	ATM ± 10 Strikes in 0.005 increments plus an additional 5 strikes in 0.010 increments for nearest Quarterly/Serial month ATM ± 10 Strikes in 0.005 increments plus an additional 15 strikes in 0.010 increments for all other months
Vol-Quoted British Pound/US Dollar (GBP/USD) Weekly Friday Options	VBA – VBE	B3	ATM ± 48 Strikes in 0.005 increments	ATM ± 10 Strikes in 0.005 increments plus an additional 5 strikes in 0.010 increments
Vol-Quoted British Pound/US Dollar (GBP/USD) Weekly Wednesday Options	VG1– VG5	B3	ATM ± 48 Strikes in 0.005 increments	ATM ± 10 Strikes in 0.005 increments plus an additional 5 strikes in 0.010 increments
Swiss Franc/US Dollar Options (CHF/USD)	CHU	YS	ATM ± 24 Strikes in 0.0050 increments	ATM ± 10 Strikes in 0.0050 increments for nearest Quarterly/Serial month   ATM ± 10 Strikes in 0.0050 increments plus an additional 5 strikes in 0.0100 increments for all other months
Swiss Franc/US Dollar (CHF/USD) Weekly Friday Options	1SF – 5SF	YS	ATM ± 24 Strikes in 0.0050 increments	ATM ± 10 Strikes in 0.0050 increments
Vol-Quoted Swiss Franc/US Dollar Options (CHF/USD)	VXS	3S	ATM ± 24 Strikes in 0.0050 increments	ATM ± 10 Strikes in 0.0050 increments for nearest Quarterly/Serial month   ATM ± 10 Strikes in 0.0050 increments plus an additional 5 strikes in 0.0100 increments for all other months
Vol-Quoted Swiss Franc/US Dollar (CHF/USD) Weekly Friday Options	VSA – VSE	3S	ATM ± 24 Strikes in 0.0050 increments	ATM ± 10 Strikes in 0.0050 increments
New Zealand Dollar/US Dollar Options (NZD/USD)	6N	2N	ATM ± 8 Strikes in 0.0050 increments	ATM ± 10 Strikes in 0.0050 increments for nearest Quarterly/Serial month   ATM ± 10 Strikes in 0.0050 increments for all other months
New Zealand Dollar/US Dollar (NZD/USD) Weekly Friday Options	1Z – 5Z	2N	ATM ± 8 Strikes in 0.005 increments	ATM ± 10 Strikes in 0.0050 increments
Mexican Peso/US Dollar Options (MXN/USD)	6M	MO	ATM ± 30 Strikes in 0.0005 increments	ATM ± 10 Strikes in 0.0005 increments for nearest Quarterly/Serial month   ATM ± 20 Strikes in 0.0005 increments for all other months
Mexican Peso/US Dollar (MXN/USD) Weekly Friday Options	1M – 5M	MO	ATM ± 30 Strikes in 0.00050 increments	ATM ± 10 Strikes in 0.0005 increments

These options are 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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Changes to Euro FX and Japanese Yen Options - March 31

Effective Sunday, March 31 (trade date Monday, April 1), the strike price listing rule will be changed for Euro FX and Japanese Yen options to include smaller strike increments. The new strike increments format in FIX tags iLink: tag 107-SecurityDesc and MDP 3.0: tag 55-Symbol will be as seen in the table below.

Changes to Euro FX and Japanese Yen Options
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current Strike Price Listing Rule	New Strike Price Listing Rule	iLink: tag 107-SecurityDesc MDP 3.0: tag 55-Symbol
Euro/US Dollar Options (EUR/USD)	EUU	XE	ATM ± 24 Strikes in 0.0050 increments	ATM ± 8 Strikes in 0.0025 increments plus an additional 10 strikes in 0.0050 increments for nearest Quarterly/Serial month   ATM ± 10 Strikes in 0.0050 increments plus an additional 10 strikes in 0.0100 increments for all other months	EUUJ9 C1155  EUUJ9 C1157 – New (Actual strike = 1.1575) EUUJ9 C1160 EUUJ9 C1162 – New (Actual strike = 1.1625) EUUJ9 C1165
Euro/US Dollar (EUR/USD) Weekly Friday Options	1EU – 5EU	XE	ATM ± 24 Strikes in 0.0050 increments	ATM ± 8 Strikes in 0.0025 increments plus an additional 10 strikes in 0.0050 increments	2EUJ9 C1155 2EUJ9 C1157 – New (Actual strike = 1.1575) 2EUJ9 C1160 2EUJ9 C1162 – New (Actual strike = 1.1625) 2EUJ9 C1165
Euro/US Dollar (EUR/USD) Weekly Wednesday Options	WE1– WE5	XE	ATM ± 24 Strikes in 0.0050 increments	ATM ± 8 Strikes in 0.0025 increments plus an additional 10 strikes in 0.0050 increments	WE2J9 C1155 WE2J9 C1157 – New (Actual strike = 1.1575) WE2J9 C1160 WE2J9 C1162 – New (Actual strike = 1.1625) WE2J9 C1165
Vol-Quoted Euro/US Dollar Options (EUR/USD)	VXT	3E	ATM ± 24 Strikes in 0.0050 increments	ATM ± 8 Strikes in 0.0025 increments plus an additional 10 strikes in 0.0050 increments for nearest Quarterly/Serial month   ATM ± 10 Strikes in 0.0050 increments plus an additional 10 strikes in 0.0100 increments for all other months	VXTJ9 C1155 VXTJ9 C1157 – New (Actual strike = 1.1575) VXTJ9 C1160 VXTJ9 C1162 – New (Actual strike = 1.1625) VXTJ9 C1165
Vol-Quoted Euro/US Dollar (EUR/USD) Weekly Friday Options	VTA – VTE	3E	ATM ± 24 Strikes in 0.0050 increments	ATM ± 8 Strikes in 0.0025 increments plus an additional 10 strikes in 0.0050 increments	VTBJ9 C1155 VTBJ9 C1157 – New (Actual strike = 1.1575) VTBJ9 C1160 VTBJ9 C1162 – New (Actual strike = 1.1625) VTBJ9 C1165
Vol-Quoted Euro/US Dollar (EUR/USD) Weekly Wednesday Options	VE1 – VE5	3E	ATM ± 24 Strikes in 0.0050 increments	ATM ± 8 Strikes in 0.0025 increments plus an additional 10 strikes in 0.0050 increments	VE2J9 C1155 VE2J9 C1157 – New (Actual strike = 1.1575) VE2J9 C1160 VE2J9 C1162 – New (Actual strike = 1.1625) VE2J9 C1165
Japanese Yen/US Dollar Options (JPY/USD)	JPU	QJ	ATM ± 30 Strikes in 0.000050 increments	ATM ± 8 Strikes in 0.000025 increments plus an additional 10 strikes in 0.000050 increments for nearest Quarterly/Serial month   ATM ± 10 Strikes in 0.000050 increments plus an additional 10 strikes in 0.00010 increments for all other months	JPUJ9 C0915 JPUJ9 C0917 – New (Actual strike = 0.009175) JPUJ9 C0920 JPUJ9 C0922 – New (Actual strike = 0.009225) JPUJ9 C0925
Japanese Yen/US Dollar (JPY/USD) Weekly Friday Options	1JY – 5JY	QJ	ATM ± 30 Strikes in 0.000050 increments	ATM ± 8 Strikes in 0.000025 increments plus an additional 10 strikes in 0.000050 increments	2JYJ9 C0915 2JYJ9 C0917 – New (Actual strike = 0.009175) 2JYJ9 C0920 2JYJ9 C0922 – New (Actual strike = 0.009225) 2JYJ9 C0925
Japanese Yen/US Dollar (JPY/USD) Weekly Wednesday Options	WJ1– WJ5	QJ	ATM ± 30 Strikes in 0.000050 increments	ATM ± 8 Strikes in 0.000025 increments plus an additional 10 strikes in 0.000050 increments	WJ2J9 C0915 WJ2J9 C0917 – New (Actual strike = 0.009175) WJ2J9 C0920 WJ2J9 C0922 – New (Actual strike = 0.009225) WJ2J9 C0925
Vol-Quoted Japanese Yen/US Dollar Options (JPY/USD)	VXJ	3Y	ATM ± 30 Strikes in 0.000050 increments	ATM ± 8 Strikes in 0.000025 increments plus an additional 10 strikes in 0.000050 increments for nearest Quarterly/Serial month   ATM ± 10 Strikes in 0.000050 increments plus an additional 10 strikes in 0.00010 increments for all other months	VXJJ9 C0915 VXJJ9 C0917 – New (Actual strike = 0.009175) VXJJ9 C0920 VXJJ9 C0922 – New (Actual strike = 0.009225) VXJJ9 C0925
Vol-Quoted Japanese Yen/US Dollar (JPY/USD) Weekly Friday Options	VJA – VJE	3Y	ATM ± 30 Strikes in 0.000050 increments	ATM ± 8 Strikes in 0.000025 increments plus an additional 10 strikes in 0.000050 increments	VJBJ9 C0915 VJBJ9 C0917 – New (Actual strike = 0.009175) VJBJ9 C0920 VJBJ9 C0922 – New (Actual strike = 0.009225) VJBJ9 C0925
Vol-Quoted Japanese Yen/US Dollar (JPY/USD) Weekly Wednesday Options	VJ1– VJ5	3Y	ATM ± 30 Strikes in 0.000050 increments	ATM ± 8 Strikes in 0.000025 increments plus an additional 10 strikes in 0.000050 increments	VJ2J9 C0915 VJ2J9 C0917 – New (Actual strike = 0.009175) VJ2J9 C0920 VJ2J9 C0922 – New (Actual strike = 0.009225) VJ2J9 C0925

These changes are 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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Changes to Non-Reviewable Ranges for Select NYMEX Futures - March 31

Effective Sunday, March 31 (trade date Monday, April 1), the Non-Reviewable Ranges will be modified for following NYMEX futures.

Changes to Non-Reviewable Ranges for Select NYMEX Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current Non-Reviewable Range	New Non-Reviewable Range
U.S. Midwest #1 Busheling Ferrous Scrap Futures	BUS	ST	5000	1000
LOOP Crude Oil Storage Futures	LPS	BB	5	10

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

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

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NewNew - Change to Minimum Price Increment for 3-Month SOFR Futures Exchange Defined Spread - April 7

Effective Sunday, April 7 (trade date Monday, April 8), the minimum price increment  (tag 969-MinPriceIncrement) will be change for the 3-Month SOFR futures exchange-defined spread:

Average Price Bundle Futures Spread 3-Month SOFR Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	762-SecuritySubType	Current tag 969 - MinPriceIncrement	New tag 969 - MinPriceIncrement
3-Month SOFR Futures	SS	SR3	AB	0.500000000	0.250000000

These products will be available for customer testing in New Release on Monday, March 25.

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

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Trading of Three EUA Futures and Options - April 28

Effective Sunday, April 28 (trade date Tuesday, April 30), beginning with the May 2019 contact the monthly European Union Allowance (EUA) futures and options will be made available for trading on CME Globex.

Temporary Suspension of Trading of Three EUA Futures and Options
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group
In Delivery Month European Union Allowance (EUA) Futures	EAF	VX
In Delivery Month European Union Allowance (EUA) Options	EAX	GY
In Delivery Month European Union Allowance (EUA) Serial Options	9G	GY

These products currently have no open interest.

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CME FX Option Changes  - June 9

Effective with the listing of the September 2019 quarterly options, these CME FX options will reflect the following changes:

• Expiration time will be 9:00 am Central Time (CT). Currently, these options expire at 2:00 pm CT.
• Exercise will use the 9:00 am CT fixing price instead of the 2:00 pm fixing price.

These changes will be in effect for all option instruments that expire after Sunday, June 9, 2019. Currently listed instruments, and any instruments that expire before June 9, 2019, will continue to use the 2:00 pm expiration and 2:00 pm fixing price for exercise.

Additional information on these changes including a two minute overview video can be found at cmegroup.com/10am.

The instrument last trade date and time can be found by leveraging FIX tags 865=7 (Last eligible trade date) and 1145-EventTime in the Security Definition (tag 35-MsgType=d) message.

The Fixing Price data blocks are sent in the MDP 3.0 Market Data Incremental Refresh (tag 35-MsgType=X) with the following attributes:

• Tag 279- MDUpdateAction=0 (New)
• Tag 269-MDEntryType=W (Fixing Price)
• Tag 270-MDEntryPX = Price of the MD Entry (This value will contain the fixing price).
• Tag 5796-Trading Reference will display the date for which the fixing price was calculated.

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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