• CME Globex Notices: January 10, 2022

      • To
      • CME Globex and Market Data Customers
      • From
      • Global Market Solutions & Services (GMSS)
      • #
      • 20220110
      • Notice Date
      • 13 January 2022

    • Topics in this issue include:

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

      Critical System Updates

      EC Calendar Spread Leg Pricing Methodology Change - January 23

      On Sunday, January 23 (for trade date Monday, January 24), to provide a more consistent leg pricing experience, the leg pricing methodology for the SecuritySubType=EC is being modified to use leg1 (the nearest expiration) as the anchor with prior day’s settlement price when the spread trades at zero, positive or negative price. Currently, when the spread trades at a positive price, the leg2 (the deferred expiration) acts as the anchor leg.

      In addition, a new BTIC on Adjusted Interest Rate FTSE-100 Total Return Index futures calendar spread will be listed for trading on CME Globex.

      Please review the client impact assessment for additional details.

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

      Back to Top

      Market Data Settlement Messaging Updates - March 6

      Effective Sunday, March 6 (trade date Monday, March 7), the market data incremental (tag 35-MsgType=X; tag 269=6) settlement messaging will be updated as follows for the products outlined below.

      To improve message efficiency, the following products will no longer support Settlement at Trading Tick (tag 731-SettlPriceType, Bit 2=1):

      Market Data Settlement Messaging Updates
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Market Data Channel
      Mini-Corn Futures XC XC 340
      Mini Soybean Futures XK XK
      Mini-sized Chicago SRW Wheat Futures XW XW
      Mini-sized KC HRW Wheat Futures MKC MH
      Mid-Sized Milk Futures JQ 05 316
      Micro GBP/USD Futures M6B 6B 314
      Micro USD/CNH Futures MNH RM
      Micro USD/JPY Futures M6J 6J
      Micro INR/USD Futures MIR 6P
      Micro CHF/USD Futures MSF 6S
      London Spot Silver Futures SSP SL 360
      London Spot Gold Futures GSP GL

      Additionally to improve settlement message granularity, the following product will add support for Settlement at Trading Tick (tag 731-SettlPriceType, Bit 2=1) messaging:

      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Market Data Channel
      E-mini S& MidCap 400 Futures EMD ME 318

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

      Back to Top

      Product Launches

      Listing Bitcoin Futures versus Micro Bitcoin Futures Fixed Price Ratio Inter-Commodity Spreads - January 23

      Effective Sunday, January 23 (trade date Monday, January 24), Bitcoin futures vs Micro Bitcoin futures Fixed Price Ratio Inter-Commodity spreads will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

      Listing Bitcoin Futures versus Micro Bitcoin Futures Fixed Price Ratio Inter-Commodity Spreads
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Tag 762-
      SecuritySubType      		 Market Data Channel
      Bitcoin Futures vs. Micro Bitcoin Futures BTC BF AE 318

      Please Note: Implieds will NOT be enabled. 

      The spreads are structured as leg1 Bitcoin Futures (BTC) minus leg2 Micro Bitcoin Futures (MBT) with a ratio of 1:50. Additional information on the Fixed Priced Ratio Inter-Commodity spreads can be found on the Spreads and Combinations Available on CME Globex confluence page.

      Example: Buying the spreads results in:
      Buy 1 January 2022 Bitcoin Futures (BTC)
      Sell 50 March 2022 Micro Bitcoin Futures (MBT)

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

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

      Back to Top

      EC Calendar Spread Leg Pricing Methodology Change - January 23

      On Sunday, January 23 (for trade date Monday, January 24), to provide a more consistent leg pricing experience, the leg pricing methodology for the SecuritySubType=EC is being modified to use leg1 (the nearest expiration) as the anchor with prior day’s settlement price when the spread trades at zero, positive or negative price.  Currently, when the spread trades at a positive price, the leg2 (the deferred expiration) acts as the anchor leg.

      In addition, a new BTIC on Adjusted Interest Rate FTSE-100 Total Return Index futures calendar spread will be listed for trading on CME Globex.

      Please review the client impact assessment for additional details.

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

      Back to Top

      Japanese Power (Day-Ahead) Tokyo Base-Load Average Price Option - January 23

      Effective Sunday, January 23 (trade date Monday, January 24), pending completion of all regulatory review periods, Japanese Power (Day-Ahead) Tokyo Base-Load Average Price option will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

      Japanese Power (Day-Ahead) Tokyo Base-Load Average Price Option
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Market Data Channel
      Japanese Power (Day-Ahead) Tokyo Base-Load Average Price Option JTO PH (UDS: PG) 387

      This Japanese Power (Day-Ahead) Tokyo Base-Load Average Price option are currently available for customer testing in New Release.

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

      Back to Top

      Container Freight Futures - February 13

      Effective Sunday, February 13 (trade date Monday, February 14), pending completion of all regulatory review periods, Container Freight futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

      Container Freight Futures
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 TAG 996-UNITOFMEASURE Market Data Channel
      Container Freight (China/East Asia to US West Coast) (FBX01) (Baltic) Futures CS1 FT FEU (Forty Foot Equivalent Unit) 386
      Container Freight (US West Coast to China/East Asia) (FBX02) (Baltic) Futures CS2
      Container Freight (China/East Asia to US East Coast) (FBX03) (Baltic) Futures CS3
      Container Freight (China/East Asia to North Europe) (FBX11) (Baltic) Futures CS4
      Container Freight (North Europe to China/East Asia) (FBX12) (Baltic) Futures CS5
      Container Freight (China/East Asia to Mediterranean) (FBX13) (Baltic) Futures CS6

      Please Note: Container Freight futures will feature a new value for tag 996-UnitofMeasure=FEU (Forty Foot Equivalent Unit).

      These futures will be available for customer testing in New Release on Monday, January 31.

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

      Back to Top

      NewNew - 20-Year U.S. Treasury Bond Futures - March 6

      Effective Sunday, March 6 (trade date Monday, March 7), pending completion of all regulatory review periods, 20-Year U.S. Treasury Bond Futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

      20-Year U.S. Treasury Bond Futures
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Market Data Channel
      20-Year U.S. Treasury Bond Futures TWE ZY 344

      These futures will be available for customer testing in New Release on January 31.

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

      Back to Top

      NewNew - Listing 20-Year U.S. Treasury Bond Futures Spreads - March 6

      Effective Sunday, March 6 (trade date Monday, March 7), the following Implied Treasury spreads for the 20-Year U.S. Treasury Bond Futures will be listed on CME Globex.

      Listing 20-Year U.S. Treasury Bond Futures Spreads
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Tag 762- SecuritySubType
      2-Year T-Note vs. 20 Year T-Bond Inter-commodity Ratio Spread TTW IV IV
      2-Year T-Note vs. 20 Year T-Bond Inter-commodity Ratio Spread TWW
      3-Year T-Note vs. 20-Year T-Bond Inter-commodity Ratio Spread TRW
      3-Year T-Note vs. 20-Year T-Bond Inter-commodity Ratio Spread THW
      5-year T-Note vs. 20-Year T-Bond Inter-commodity Ratio Spread FTW
      5-year T-Note vs. 20-Year T-Bond Inter-commodity Ratio Spread FYW
      10-year T-Note vs. 20-year T-Bond Inter-commodity Ratio Spread TYW
      10-year T-Note vs. 20-year T-Bond Inter-commodity Ratio Spread TOW
      Ultra 10-Year T-Note vs. 20-Year T-Bond Inter-commodity Ratio Spread NYW
      Ultra 10-Year T-Note vs. 20-Year T-Bond Inter-commodity Ratio Spread NTW
      T-Bond vs. 20-Year T-Bond Inter-commodity Ratio Spread ZBW
      T-Bond vs. 20-Year T-Bond Inter-commodity Ratio Spread ZTW
      20-Year T-Bond vs. Ultra T-Bond Inter-commodity Ratio Spread TWU
      20-Year T-Bond vs. Ultra T-Bond Inter-commodity Ratio Spread TWB

      These spreads will be available for customer testing in New Release on Monday, January 31.

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

      Back to Top

      Product Changes

      NewNew - Delisting and Removal of Houston Ship Channel Natural Gas (Platts IFERC) Basis Futures - This Week

      On Monday, January 10 the following Houston Ship Channel Natural Gas (Platts IFERC) Basis Futures were delisted, and effective close of business Friday, January 14 these futures will be removed from CME Globex.

      Delisting and Removal of Houston Ship Channel Natural Gas (Platts IFERC) Basis Futures
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group
      Houston Ship Channel Natural Gas (Platts IFERC) Basis Futures NHN FD

      These futures currently have no open interest.

      Back to Top

      Expansion to Strike Price Listing and Increased Listing Cycle Schedule for Options on E-mini Nasdaq-100 Index Futures - January 23

      Effective Sunday, January 23 (trade date Monday, January 24), the following changes will be made to the E-mini Nasdaq-100 Options on CME Globex:

      • Expansion of strike price listing for all E-mini Nasdaq-100 Options
      • Increased listing schedule for E-mini Nasdaq-100 Weekly Options (Friday expiries).

      For additional information on these changes, please refer to the Special Executive Report SER-8895.

      Expansion to Strike Price Listing for Options on E-mini Nasdaq-100 Index Futures
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Current Strike Price Listing Procedures New Strike Price Listing Procedures
      Options on E-mini Nasdaq-100 Futures NQ QZ 100 index point integer multiples upon listing: +30% to -50% of the prior day’s settlement price on the underlying future contract
      10 index point integer multiples for the nearest expiration: +10% to -20% of the prior day’s settlement price on the underlying future contract.      		 500-point increment: -50% to +30% (when listed)
      100-point increment: -40% to +20% (‹186 DTE)
      50-point increment: -25% to +10% (‹96 DTE)
      10-point increment: -10% to +5% (‹35 DTE)
      Dynamic strikes allowed at 5 index point increments.
      Options on E-mini Nasdaq-100 Index Futures - End-of-Month (European-Style) QNE NW 100 index point integer multiples upon listing: +30% to -50% of the prior day’s settlement price on the underlying future contract
      10 index point integer multiples for the nearest three expirations: +10% to -20% of the prior day’s settlement price on the underlying future contract

      Wednesday Weekly Options on E-mini Nasdaq-100 Index Futures - Week 1-5 (European-Style)

      Monday Weekly Options on E-mini Nasdaq-100 Index Futures - Week 1-5 (European-Style)

      		 Q1A-Q5A & Q1C-Q5C NW Strikes listed within +10% to -20% of the prior day’s settlement price of the underlying future contract in 10 index point increments.
      Weekly Options on E-mini Nasdaq-100 Index Futures - Week 1-4 (European-Style); QN1-QN4 NW Weeks 1, 2 and 4: +10% to -20% of the prior day’s settlement price of the underlying future contract in 10 index point increments
      Week 3: +30% and -50% of the prior day’s settlement price of the underlying future contract in 100 index point increments and +10% and -20% in 10 index point increments

      Increased Listing Cycle Schedule for Weekly Options on E-mini Nasdaq-100 Index Futures
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Current Listing Cycle New Listing Cycle
      Weekly Options on E-mini Nasdaq-100 Index Futures - Week 1-4 (European-Style); QN1-QN4 NW 2 weekly contracts of week 3; no listings provided for March, June, Sept, or Dec. 3 consecutive contracts of Week 3, including Mar, Jun, Sep, and Dec. These options will expire into the next named quarterly month (i.e., QN3H2 will expire into positions in the NQM2 Future)

      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.

      Back to Top

      Events and Announcements

      Messaging Efficiency Program Q1 2022 Benchmarks

      The Q1 2022 CME Globex Messaging Efficiency Program Product Group Benchmarks are now available online. No changes were made to Q1 2022 existing Product Group Benchmarks vs. Q4 2021 Product Group Benchmarks.

      The CME Globex Messaging Efficiency Program creates fair business guidelines by which customers are billed a surcharge for overly high message rates.

      CME Globex firms who exceed the benchmark ratios in applicable product groups and are signed-up accordingly, receive email notifications of any potential surcharges. CME Globex firms who have access to the Firm Administrator Dashboard have the ability to view their messaging statistics on a T+1 basis.

      Please contact your Global Account Manager with any questions.

      Back to Top

      CME Globex Messaging Efficiency Program 2022 Holiday Calendar

      As noted in the CME Globex Messaging Efficiency Program (MEP) document, the MEP is not applied on certain dates before/on/after U.S. recognized holidays. To obtain dates as to when CME Globex Messaging Efficiency Program Ratios for all Product Groups included in the MEP will not be enforced, please refer to the CME Globex Messaging Efficiency Program Holiday Calendar.

      Please Note: The Holiday Calendar does not pertain to the Excessive Messaging Threshold (EMT) which is in effect during all trade dates and hours in which the Globex platform is open.

      If you have any questions, please contact the CME Global Command Center in the U.S. at +1 800 438 8616, in Europe at +44 20 7623 4747 or in Asia at +65 6532 5010.

      Back to Top

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2026 CME Group Inc. All rights reserved.