CME Globex Notices: August 29, 2022

Critical Updates

Event Contracts - September 18

Effective Sunday, September 18 (trade date Monday, September 19), event options contracts will be listed for trading on CME Globex, pending completion of all regulatory review periods. Event contracts are daily-expiring, cash settled, European Style, options on futures contracts. Event contracts will provide access to some of our most recognized global products, including metals, energy, equities, and foreign currencies. Additionally, non-tradable underlying futures will be listed to support the new event options. Event contracts will be listed on a new MDP 3.0 channel (329 - Event Contracts).  

Please review the Client Impact Assessment for additional details.

In preparation for the upcoming launch, event contract options and underlying futures are now available in the CME Globex production environment as non-tradable.

The event contracts are currently available for customer testing in New Release.

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

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Energy Gasoil Crack Spreads - September 18

Effective Sunday, September 18 (trade date Monday, September 19), new exchange defined Energy Gasoil Crack spreads will be made available for trading on CME Globex. The new spreads will use a new strategy type (TB) and trade at a reduced tick.

The TB spread is an inter-commodity ratio futures spread allowing the simultaneous purchase (sale) of a distilled product (i.e., Low Sulphur Gasoil) with a corresponding sale (purchase) of the raw product from which it was produced (i.e., Crude Oil).

Please review the Client Impact Assessment for additional details.

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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iLink 3 Order Cancel and Cancel/Replace Requests by ClOrdID - October 2

Starting Sunday, October 2 (trade date Monday, October 3), CME Group will begin launching a new risk management feature that allows clients to cancel and modify resting orders using FIX tag 11-ClOrdID, without providing tag 37-OrderID. This feature will be enabled for all CME Group futures and options on futures on CME Globex. It is only available on iLink 3 sessions using the v8 schema. However, iLink 2 sessions are also impacted by this launch.

Prior to each launch weekend, clients must ensure all resting Good Till Cancel (GTC) and Good Till Date (GTD) orders have a unique tag 11-ClOrdID value per SenderComp and market segment. On each launch weekend, any resting GTC/GTD orders will be evaluated for duplicative ClOrdID values per SenderComp and market segment. Orders with duplicate values will be eliminated prior to the open.

Please review the Client Impact Assessment for full technical details and launch schedule.

Certification in AutoCert+ is required to utilize the new Order Cancel and Cancel/Replace Requests by ClOrdID functionality. This change and the new AutoCert+ test suite are currently available in New Release for customer testing and certification.

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Product Launches

Listing Cycle Expansion for E-Mini S&P 500 Monday, Wednesday, and Specific Friday Weekly Options - September 11

Effective Sunday, September 11 (trade date Monday, September 12), the listing cycle for the following E-mini S&P 500 Monday, Wednesday, and Friday Weekly options will be expanded on CME Globex.

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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Options on Ether Futures - September 12

Effective Sunday, September 11 (trade date Monday, September 12), pending completion of all regulatory review periods, Options on Ether Futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

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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Energy Gasoil Crack Spreads - September 18

Effective Sunday, September 18 (trade date Monday, September 19), new exchange defined Energy Gasoil Crack spreads will be made available for trading on CME Globex. The new spreads will use a new strategy type (TB) and trade at a reduced tick.

The TB spread is an inter-commodity ratio futures spread allowing the simultaneous purchase (sale) of a distilled product (i.e., Low Sulphur Gasoil) with a corresponding sale (purchase) of the raw product from which it was produced (i.e., Crude Oil).

Please review the Client Impact Assessment for additional details.

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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Events Contracts - September 18

Effective Sunday, September 18 (trade date Monday, September 19), event options contracts will be listed for trading on CME Globex, pending completion of all regulatory review periods. Event contracts are daily-expiring, cash settled, European Style, options on futures contracts. Event contracts will provide access to some of our most recognized global products, including metals, energy, equities, and foreign currencies. Additionally, non-tradable underlying futures will be listed to support the new event options. Event contracts will be listed on a new MDP 3.0 channel (329 - Event Contracts).  

Please review the Client Impact Assessment for additional details.

In preparation for the upcoming launch, event contract options and underlying futures are now available in the CME Globex production environment as non-tradable.

The event contracts are currently available for customer testing in New Release.

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

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Additional CVOL Indices on Benchmark Administration Premium - September 25

Effective Sunday, September 25 (trade date Monday, September 26), the following CME Group Volatility Index (CVOL) products will be listed on Benchmark Administration Premium UDP Multicast and GCP SBE.

Additional product and instrument information are defined in Reference Data API.

The CVOL Indexes are currently available for customer testing in New Release.

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Bursa Malaysia Derivatives (BMD) Crude Palm Oil vs East Malaysia Crude Palm Oil Inter-Commodity Futures Spreads - October 2

Effective Sunday, October 2 (trade date Monday, October 3), and pending final regulatory approval, inter-commodity spreads between Bursa Malaysia Derivatives (BMD)’s Crude Palm Oil vs BMD East Malaysia Crude Palm Oil futures will be made available for trading on CME Globex.

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

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

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30-Year Uniform Mortgage-Backed Securities (UMBS) To-Be-Announced (TBA) Futures - October 2

Effective Sunday, October 2 (trade date Monday, October 3), pending completion of all regulatory review periods, 30-Year Uniform Mortgage-Backed Securities (UMBS) To-Be-Announced (TBA) futures 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 CBOT.

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Product Changes

Sunsetting Eurodollar Options  - September 11

Effective Sunday, September 11 (trade date Monday, September 12), Eurodollar and Mid Curve option quarterlies will be sunset. No additional Weekly Mid-Curve, Term Mid-Curve, Mid-Curve, and Calendar Spread Options contracts will be listed after Monday, September 12, 2022.

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

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Changes to Bursa Malaysia Derivatives (BMD) Gold Futures - September 18

Effective Sunday, September 18 (trade date Monday, September 19), and pending final regulatory approval, the Bursa Malaysia Derivatives (BMD) Gold futures security definition (tag 35-MsgType=d) message will be amended as follows:

• Change to tag 996-UnitOfMeasure
• Change to tag 1147-UnitOfMeasureQty
• Change to tag 969-MinPriceIncrement
• Afternoon Trading Session Hours

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

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

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NewNew - Change to Maximum Order Quantity for SPIKES™ Volatility Index Futures - September 25

Effective Sunday, September 25 (trade date Monday, September 26), the maximum order quantity for the SPIKES™  Volatility Index futures, TAS futures and spreads will increase on CME Globex as follows:

• 1140-MaxTradeVol from 100 to 1999 for outrights
• 1140-MaxTradeVol from 100 to 2500 for spreads

The maximum order quantity applied to each instrument are identified in the Security Definition (tag 35-MsgType=d) message in tag 1140-MaxTradeVol. 

These changes will be available for customer testing in New Release on Monday, September 12.

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

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NewNew - Change to Bursa Malaysia Derivatives (BMD) Extended Night Trading Session - December 2022

In December 2022 and pending final regulatory approval, Bursa Malaysia Derivatives (BMD) will extend its night trading session for selected products on CME Globex. Due to the time difference between Malaysian Time and Central Time, the extended night trading session activities will begin the business day prior to actual trade date in Malaysian time. The new extended night trading session will be open for trading Monday - Thursday. 

There will be no Friday night trading session. There is no impact to the current Monday - Friday day trading sessions.

This change will be available for customer testing in New Release, Monday, September 12.

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

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Events and Announcements

UpdateUpdate - CME Group DR Datacenter Migration Test Postponed - March 2023

The mock disaster recovery test previously scheduled for September 10 has been postponed to early March 2023. Additional details, test scripts, and registration information will be announced in future CME Globex Notices. In the interim, we look forward to our customers joining us for the FIA Disaster Recovery Test on October 15, 2022.

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NewNew - Cessation of Eurodollar CVOL Indices - March 6

On Monday, March 6, 2023, the calculation and publication of the following three Eurodollar CVOL benchmarks and associated derivative indicators, which use Eurodollar futures and options as input data, will permanently cease as approved by the CVOL Oversight Committee.

• Eurodollar 90-day CVOL
• Eurodollar 1-year Mid-curve 90-day CVOL
• Eurodollar 2-year Mid-curve 90-day CVOL

Additional information on this change is available on the CVOL webpage.

Any comments or queries regarding the cessation of the three Eurodollar CVOLs should be sent to benchmark@cmegroup.com.

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