CME Globex Notices: March 8, 2021

Critical System Updates

iLink 2 on MSGW - Decommission Reminder

Effective Sunday, March 28, iLink 2 on MSGW will be decommissioned and all MSGW sessions will support iLink 3 only. Attempts to connect to MSGWs and establish a FIX session over iLink 2 following decommission will be terminated.

As previously announced, iLink 2 on MSGW was deprecated Sunday, February 28. A charge of $1,000 USD per iLink session per week is applied to each session that has not yet migrated to iLink 3.

Please contact your Global Account Manager for additional information.

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Update on Order Routing and Front-End Audit Trail Requirements for iLink 3

As noted in the CME Globex Notice on January 30, 2020, the required audit trail specifications in the Client Systems Wiki were amended in connection with the implementation of iLink 3.

All customer systems must be certified for Audit Trail for iLink 3 prior to going to the production environment.

For additional information, please review the Market Regulation Advisory Notice on order routing and front-end audit trail regulatory requirements.

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Anchor Leg Pricing Enhancement - March 21

On Sunday, March 21 (for trade date Monday, March 22), CME Group is enhancing the leg price assignment process on selected future spreads to now consider the banding reference price as the price of the anchor leg. This will provide more accurate leg price assignments in less-liquid spreads. There will be no spread pricing impacts with this change.
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The following spread types will be impacted:

• SP - Standard Calendar Spread
• BF - Butterfly
• CF - Condor
• DF - Double Butterfly
• DI - Intercommodity
• IP - Intercommodity
• IS - Intercommodity
• RT - Reduced Tick
• RI - Reduced Tick Intercommodity
• SD - Calendar
• SI - Commodities Intercommodity 
• AB - Averaged Price Bundle  
• C1 - Crack 
• PS - Pack Spread
• PB - Pack Butterfly
• MP - Month Pack
• BS - Bundle Spread  
• SW - Invoice Swap Switch Spread  
• TL - Tail Spread
• SB Balanced Strip Spread
• WS Unbalanced Strip
• XS Intercommodity
• IN Invoice Swap Spread
• XF FX Link
• YF FX Link
• BC Intercommodity
• SC Invoice Swap Calendar Spread
• EF Inter-Exchange Reduced Tick Ratio Spread  

The anchor leg pricing enhancement is currently available for customer testing in New Release.

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GLink Network Infrastructure Upgrade at Aurora Co-Location Facility - March 27

The GLink network infrastructure at the CME Group Co-Location Facility in Aurora, IL, for futures and options markets will be upgraded over several weekends starting March 27. The network upgrade will include the installation of new hardware equipment. As part of this upgrade, no changes are expected for spine and leaf architecture, customer cross-connects, nor for GLink demarcations in customer cabinets.

The client impact assessment has been updated to reflect changes to the customer timeline and additional details about the upgraded GLink architecture. Please review the client impact assessment revision history for details.

Please contact your Global Account Manager for additional information.

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CME FX Link Enhancements - March 28

As a result of the new dates of iLink 3 schema update, the previously announced launch of the Phase 1 CME FX Link enhancements have been postponed to Sunday, March 28 (for trade date Monday, March 29).

With these enhancements, CME Group will provide the following transaction details on the iLink fills for the OTC Spot FX leg instruments:

Currently, these transaction details are not available via CME Globex and can only be obtained via CME Straight Through Processing (STP).

CME FX Link enhancements will apply to both iLink 2.x and iLink 3 customers. For iLink 3, these enhancements will be launched in production using the schema version 7. Additional information on the new FIX tags and messaging impacts for CME FX Link enhancements are available in the Client Impact Assessment.

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CME FX Link Enhancements: Drop Copy Impact - March 28

As a result of the new dates of iLink 3 schema update the previously announced launch of the Phase 1 CME FX Link enhancements for the Drop Copy service has been postponed to Sunday, March 28 (for trade date Monday, March 29).

With these enhancements, the CME Drop Copy message payload will reflect the following transaction details on the iLink fills for the OTC Spot FX leg instruments in the  encapsulated XML Non-Fix (tag 35-MsgType=n) Message.

Currently, these transaction details are not reflected in  the CME Drop Copy message payload and can only be obtained via CME Straight Through Processing (STP).

Please note: Certification of client systems already leveraging Drop Copy Convenience Gateway (CGW) and Market Segment Gateway (MSGW) is not required.

Additional information on the new FIX tags and messaging impacts for the CME Drop Copy payload message for CME FX Link enhancements are available in the Client Impact Assessment.

iLink 3 SBE Schema Update - March 28

To address recent changes to third-party SBE decoders, the previously announced iLink 3 SBE Schema Update to version 6 has been cancelled. The iLink 3 SBE schema will be updated to version 7, which started March 7. CME FX Link Enhancements and EBS Market on CME Globex will launch in production on schema version 7. The overview of iLink 3 schema updates is now available.

Version 7 will include all enhancements from version 6 PLUS:

• Change the data type of OrdType enum from uInt8 to uInt8NULL
  • Remove “Null” enum value(0)
• Change the data type of TimeInForce enum from char to charNULL
  • Remove “Null” enum value(255)

Futures and Options on Futures - Production Rollout

Please Note: BrokerTec on CME Globex will remain on iLink v5.

The new version 7 schema is currently available for customer testing in New Release.

To support the new iLink 3 schema rollout the CME SFTP site will be updated as follows:

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Product Launches

Three LNG Freight Futures (LNG Fuel) - March 21

Effective Sunday, March 21 (trade date Monday, March 22), pending completion of all regulatory review periods, the Three LNG Freight futures (LNG Fuel) will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

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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Product Changes

Listing Cycle Expansion for Cobalt Metal (Fastmarkets) Futures - March 28

Effective Sunday, March 28 (trade date Monday, March 29), the listing cycle for the following Cobalt Metal (Fastmarkets) futures will be expanded on CME Globex.

This change will be available for customer testing in New Release on Monday, March 15.

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

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Changes to Lumber Options - Resting Order Eliminations - April 11

Effective Sunday, April 11 (trade date Monday, April 12), the strike price will be modified in the external instrument name to display the full strike price for Lumber options.

The external instrument name is provided in MDP 3.0 tag 55-Symbol and iLink tag 107-SecurityDesc. As a reminder, CME Group does not recommend parsing the external instrument name to determine instrument characteristics.

Please Note: tag 202-Strike Price on the MDP 3.0 Security Definition (tag 35-MsgType=d) message will not change.

These changes will be available for customer testing in New Release on Monday, March 15.

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

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