• CME Globex Notices: April 26, 2021

      • To
      • CME Globex and Market Data Customers
      • From
      • Global Market Support & Services (GMSS)
      • #
      • 20210426
      • Notice Date
      • 29 April 2021

    • Topics in this issue include:

    • For the latest roadmap of CME Group technology initiatives:
      See the Development Launch Schedule.

      Critical System Updates

      GLink Network Infrastructure Upgrade at Aurora Co-Location Facility - This Week

      The GLink network infrastructure at the CME Group Co-Location Facility in Aurora, IL, for futures and options markets will continue be upgraded on May 1. 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, additional details about the upgraded GLink architecture and additional information about the GLink rebalancing plan. Please review the client impact assessment revision history for details.

      Please contact your Global Account Manager for additional information.

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      Amendments to References of CME Globex Terminal Operators - This Week

      This Monday, May 2, CME Group will update the Messaging Policy documentation as part of an ongoing effort to harmonize references to CME Globex Terminal Operators and the way that such parties are identified across iLink 2 and iLink 3 order entry messaging. Current references to Tag 50 ID will be replaced with “Operator ID”.

      This change will be reflected on all CME Group GUIs and supporting materials.

      If you have any questions or concerns, please contact your Global Account Manager  for additional information.

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      CME FX Link Enhancements - This Week

      On Sunday, March 28, CME Group completed the Phase 1 CME FX Link enhancements to provide the following transaction details on the iLink fills for the OTC Spot FX leg instruments:

      • Actual OTC Spot FX leg fill price
      • Notional value for base currency
      • Notional value for counter currency

      Effective this Sunday, May 2, CME Group will continue to launch the Phase 2 CME FX Link enhancements to provide the Value Date on the iLink fills for the OTC Spot FX leg instruments

      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 - This Week

      On Sunday, March 28, CME Group completed the Phase 1 CME FX Link enhancements on the CME Drop Copy message payload to provide 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:

      • Actual OTC Spot FX leg fill price
      • Notional value for base currency
      • Notional value for counter currency

      Effective this Sunday, May 2, CME Group will continue to launch the Phase 2 CME FX Link enhancements to provide the Value Date on the iLink fills for the OTC Spot FX leg instruments in the  encapsulated XML Non-Fix (tag 35-MsgType=n) Message.

      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.

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      iLink 3 SBE Schema Update - May 16

      On Sunday, March 28, CME Group completed the launch of iLink 3 SBE Schema version 7 on all market segments.

      The new version 7 schema will support Template Extension for iLink 3 massages sent from Client systems to CME Globex until the end of day Friday, May 14.  Client systems can send iLink 3 messages using version 5 or 7; however CME Globex will only send messages using the version 7.

      Effective Sunday, May 16, version 7 schema will be the only supported in production.  Client systems can only send version 7 messages.

      Please Note: BrokerTec on CME Globex will remain on iLink 3 schema version 5.

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      NewNew - CME Globex Performance Enhancements - Starting June 6

      Starting Sunday, June 6, CME Group will implement the following enhancement to futures and options markets on the CME Globex platform. In internal testing, these enhancements improved performance on CME Globex more than 20%.

      MARKET SEGMENT DESCRIPTION MARKET SEGMENT ID PERFORMACE ENHANCEMENT DATE
      CME Globex Commodity Futures 60 June 6
      CBOT Globex Commodity Futures 60 June 6
      MGEX Globex Futures 60 June 6
      CME Globex FX Futures II 52 June 27
      CME Globex FX Options II 52 June 27
      DME Globex Options 56 June 27
      NYMEX Globex Crude & Crude Refined Options 56 June 27
      NYMEX Globex Nat Gas & other Non-Crude Energy Options 56 June 27
      NYMEX Globex Metals, Softs & Alternative Markets Options 56 June 27
      COMEX Globex Options 56 June 27
      CME Globex Equity Futures excluding ES 68 June 27
      CBOT Globex Equity Index Futures 68 June 27
      CME Globex Equity Options excluding ES        72 June 27
      CBOT Globex Equity Index Options 72 June 27
      NYMEX Globex Emissions Futures 78 June 27
      NYMEX Globex Nat Gas & other Non-Crude Energy Futures 78 June 27
      CME Globex Equity Options (ES) 54 July 11
      CME Globex Equity Options - Micro E-mini  54 July 11
      CME Equity Futures 64 July 11
      CME Globex Commodity Futures 70 July 11
      CBOT Globex Commodity Futures 70 July 11
      MGEX Globex Futures 70 July 11
      CME Globex Interest Rate Futures 82 July 11
      CBOT Interest Rate Futures II  82 July 11
      CME Globex FX Futures 88 July 11
      CME Globex FX Options 88 July 11
      CBOT Interest Rate Options 58 July 25
      CME Globex Commodity Options 60 July 25
      CBOT Globex Commodity Options 60 July 25
      MGEX Globex Options 60 July 25
      BMD Globex Futures 74 July 25
      BMD Globex Options 74 July 25
      DME Globex Futures 80 July 25
      NYMEX Globex Crude & Crude Refined Futurse 80 July 25
      CBOT Interest Rate Futures 84 July 25

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      Product Launches

      Micro Bitcoin Futures  - This Week

      Effective this Sunday, May 2 (trade date Monday, May 3), pending completion of all regulatory review periods, Micro Bitcoin futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

      Micro Bitcoin Futures
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Market Data Channel ITC Code
      Micro Bitcoin Futures

       

      		 MBT

       

      		 BF

       

      		 318

       

      N/A

      These futures 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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      USD Crude Palm Oil Bullet Futures and Options  - This Week

      Effective this Sunday, May 2 (trade date Monday, May 3), pending completion of all regulatory review periods, USD Crude Palm Oil Bullet futures and options will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

      USD Crude Palm Oil Bullet Futures and Options
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Market Data Channel
      USD Malaysian Crude Palm Oil Day 15th Bullet Futures

       

      		 CPV

       

      		 UC

       

      		 316

       
      USD Malaysian Crude Palm Oil Day 10th Financial Option POX U4 317

      These products 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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      Lithium Hydroxide CIF CJK (Fastmarkets) Futures - This Week

      Effective this Sunday, May 2 (trade date Monday, May 3), pending completion of all regulatory review periods, Lithium Hydroxide CIF CJK (Fastmarkets) futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

      Lithium Hydroxide CIF CJK (Fastmarkets) Futures
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Market Data Channel ITC Code

      Lithium Hydroxide CIF CJK (Fastmarkets) Futures

      LTH

      LI

      360

      N/A

      These futures 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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      NewNew - E-mini S&P Europe 350 ESG Index Futures - May 23

      Effective Sunday, May 23 (trade date Monday, May 24), pending completion of all regulatory review periods, E-mini S&P Europe 350 ESG Index futures and spreads will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

      E-mini S&P Europe 350 ESG Index Futures
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Market Data Channel ITC Code
      E-mini S&P Europe 350 ESG Index Futures E3G EU 318 N/A
      BTIC on E-mini S&P Europe 350 ESG Index Futures E3T EQ 318 N/A

      Please note: E-mini S&P Europe 350 ESG Index futures will feature RT-Reduced Tick Spreads. The spread structure and leg assignment details are available on the Client Systems Wiki.

      These futures will be available for customer testing in New Release on Monday, May 3.

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

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      NewNew - Mexican Funding TIIE (Monthly Contracts) Futures - May 23

      Effective Sunday, May 23 (trade date Monday, May 24), pending completion of all regulatory review periods, Mexican Funding TIIE (Monthly Contracts) futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

      Mexican Funding TIIE (Monthly Contracts) Futures
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Market Data Channel ITC Code
      Mexican Funding TIIE (Monthly Contracts) Futures TIE MI 312 N/A

      These futures will be available for customer testing in New Release on Monday, May 3.

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

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      NewNew - MGEX Corporate Tax Futures - May 23

      Effective Sunday, May 23 (trade date Monday, May 24), Corporate Tax futures and calendar spreads will be listed for trading on CME Globex pending regulatory approval.  The Corporate Tax futures will trade based on a new Corporate Tax Rate Index that tracks the yearly taxable income of corporations imposed by the U.S. Federal government.

      MGEX Corporate Tax Futures
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 FUTURE TAG 762-SECURITYSUBTYPE Market Data Channel
      Corporate Tax Futures TAX MD SP
      (Calendar Spread)      		 460

      These futures will be available for customer testing in New Release on Monday, May 10.

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

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      Product Changes

      UpdateUpdate - Change to Maximum Order Quantity for Gold Futures Calendar Spreads - This Week

      Effective this Sunday, May 2 (trade date Monday, May 3), the maximum order quantity for Gold futures calendar spreads will be changed as follows:

      Change to Maximum Order Quantity for Gold Futures Calendar Spreads
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Current
      tag 1140-MaxTradeVol      		 New
      tag 1140-MaxTradeVol
      Gold Futures Calendar Spreads GC:GC GC 2,499 7,500

      This change 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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      Listing Cycle Expansion for EUR/USD Monthly Volatility-Quoted Options and JPY/USD Monthly Volatility-Quoted Options - May 16

      Effective Sunday, May 16 (trade date Monday, May 17), the listing cycle for the following EUR/USD Monthly Volatility-Quoted options and JPY/USD Monthly Volatility-Quoted options will be expanded on CME Globex and Trading Floor.

      Listing Cycle Expansion for EUR/USD Monthly Volatility-Quoted Options and JPY/USD Monthly Volatility-Quoted Options
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Current Listing Schedule New Listing Schedule
      EUR/USD Monthly Volatility-Quoted Options VXT 3E 4 Quarterlies, 8 Serials 8 Quarterlies, 8 Serials
      JPY/USD Monthly Volatility-Quoted Options VXJ 3Y 4 Quarterlies, 8 Serials 8 Quarterlies, 8 Serials

      These options will be available for customer testing in New Release on Monday, May 3.

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

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      Events and Announcements

      Changes to CME Globex Excessive Messaging Threshold (EMT)  - This Week

      To further encourage responsible messaging practices during all trading hours in which the Globex platform is available, CME Group is expanding its Excessive Messaging Threshold (EMT) to include all futures and options product groups effective this Sunday, May 2 (trade date Monday, May 3).

      As a reminder, the Excessive Messaging Threshold (EMT) is separate from the regular Messaging Program and thresholds are as follows:

      • Any Globex Firm ID which exceeds a Raw Message Count of 10 million for a Globex trade date and a Volume Ratio >500:1 in a specific product group may be subject to a $10,000 surcharge as well as other escalations.
      • Any iLink Session ID which exceeds a Raw Message Count of 1 million for a Globex trade date and a Volume Ratio >500:1 in a specific product group may be subject to a $10,000 surcharge as well as other escalations.

      To allow for broad market participation and accommodate the launch of Micro Bitcoin beginning Sunday, May 2 (trade date Monday, May 3), Micro Bitcoin will be exempt from the EMT for the month of May 2021.

      Market participants are reminded that both Micro Bitcoin and the existing Bitcoin contract are included in the BF product group and CME recommends making any necessary technical adjustments in order to refrain from exceeding EMT Thresholds at either the Globex Firm ID or iLink Session ID levels.

      Please refer to the CME Globex Messaging Efficiency Program or contact the following with any questions:

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Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

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