CME Globex Notices: February 27, 2023

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

Critical Updates

iLink 3 Cancel On Behalf Functionality - March 12

On Sunday, March 12 (trade date Monday, March 13), CME Group will continue the phase launch of the new Cancel On Behalf functionality that allows iLink 3 sessions to cancel orders and quotes from different iLink 3 sessions under the same CME Globex Firm ID (GFID). This functionality 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 schema version 8. Cancel On Behalf is not allowed on iLink 2 orders and quotes.

In addition to the new Cancel On Behalf functionality, CME Group will allow client systems to block future mass quotes submissions from a different iLink 3 session under the same GFID via Quote Cancel (tag 35-MsgType=Z) message using a new tag 9182-QuoteEntryOpen = 0. The original session will have the ability to remove this block by submitting a Mass Quote (tag 35-MsgType=i) message with tag 9182-QuoteEntryOpen = 1.

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

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

Certification in AutoCert+ is required to utilize the new Cancel On Behalf functionality. The new AutoCert+ test suite is currently available for customer certification.

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User Defined Spread (UDS) Name Update - April 2

Effective Sunday, April 2 (trade date Monday, April 3), CME Globex will update the tag 55-Symbol format for MDP3 and iLink 3 for User Defined Instruments (UDS). Additionally, tag 107-SecDesc will be updated for iLink 2. With this change, the date of UDS request will be removed from the name. The data types for these tags will not change.  Client systems should not parse the UDS name for reference information. 

• Tag-55 Symbol Current Format –  UD:U$: GN 0808123456
• Tag-55 Symbol New Format – UD:U$: GN 123456
• Tag 107-SecDesc Current Format –  UD:U$: GN 0808123456
• Tag 107-SecDesc New Format –  UD:U$: GN 123456

The updated UDS name format will be available for customer testing in New Release on Monday, March 13.

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CME Settlements and Valuations SBE Schema and Final Settlement Update - April 2

Effective Sunday, April 2 (trade date Monday, April 3), CME Group will launch a new Simple Binary Encoding (SBE) schema on all CME Settlements and Valuations channels. Additionally, the new SBE incremental schema will be sent on Google Cloud: 

• CME Settlements and Valuations - SBE UDP Multicast
• Settlements and Valuations - GCP SBE  

Additionally, CME Settlements and Valuations will begin sending “final final” settlements with this update. The “final final” Settlement is the settlement sent after expiration of trade. 

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

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Enhancements to Public Settlement “stl” Files on CME FTP - April 16

Effective Sunday, April 16, CME Group will provide new, enhanced Public Settlement "stl" files on the CME FTP site. The legacy file formats will be decommissioned by Friday, April 14. 

Please review the Clearing Advisory for full technical details and decommission of legacy file schedule. 

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Product Launches

Event Contracts on Bitcoin Futures - March 12

Effective Sunday, March 12 (trade date Monday, March 13), pending completion of all regulatory review periods, Event Contracts on Bitcoin futures will be listed for trading on CME Globex.

Event Contracts on Bitcoin Futures
PRODUCT	MDP 3.0: TAG 6937-ASSET	ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP	MARKET DATA CHANNEL
Event Contracts on Bitcoin futures	ECBTC	VB	329

Please note: Event Contracts on Bitcoin futures will settle daily to the settlement price of CME Bitcoin futures calculated between 2:59 -3:00 p.m. CT.

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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Micro Platinum Futures - March 12

Effective Sunday, March 12 (trade date Monday, March 13), pending completion of all regulatory review periods, Micro Platinum futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

Micro Platinum Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
Micro Platinum futures	PLM	PL	384

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

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

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Molybdenum Oxide (Platts) Futures - March 12

Effective Sunday, March 12 (trade date Monday, March 13), pending completion of all regulatory review periods, Molybdenum Oxide (Platts) futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

Molybdenum Oxide (Platts) Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
Molybdenum Oxide (Platts) futures	MOX	MU	360

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

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

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Listing BTICs on S&P Futures on CME Globex - March 12

Effective Sunday, March 12 (trade date Monday, March 13), pending completion of all regulatory review periods, the following BTICs on S&P futures will be listed for trading on CME Globex.

Listing BTICs on S&P Futures on CME Globex
PRODUCT	MDP 3.0: TAG 6937-ASSET	ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP	MARKET DATA CHANNEL
BTIC on S&P Growth Index futures	SGT	PM	318
BTIC on S&P Value Index futures	SUT	PV	318
BTIC S&P Smallcap 600 futures	SMT	PS	318

These futures are currently available for submission for clearing on CME ClearPort and will be amended as reflected in the CME ClearPort Notice and the Executive Special Report SER-9144.

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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Listing NY Harbor ULSD Brent Crack Spread Average Price Option - March 12

Effective Sunday, March 12 (trade date Monday, March 13), pending completion of all regulatory review periods, NY Harbor ULSD Brent Crack Spread Average Price option will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

Listing NY Harbor ULSD Brent Crack Spread Average Price Option
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group (UDS)	Market Data Channel
NY Harbor ULSD Brent Crack Spread Average Price option	HBO	EF	EX	383

The option is 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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Listing Freight Route TC20 (Baltic) Futures - March 12

Effective Sunday, March 12 (trade date Monday, March 13), pending completion of all regulatory review periods, the Freight Route TC20 (Baltic) futures and Freight Route Middle East to UK Continent (TC20) (Baltic) BALMO futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

Listing Freight Route TC20 (Baltic) Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
Freight Route Middle East to UK Continent (TC20) (Baltic) futures	TF2	FT	386
Freight Route Middle East to UK Continent (TC20) (Baltic) BALMO futures	TFB	FT	386

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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Transatlantic Crude Spread Futures - March 19

Effective Sunday, March 19 (trade date Monday, March 20), pending completion of all regulatory review periods, Transatlantic Crude Spread futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

Transatlantic Crude Spread Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
WTI-Brent Trade Month Financial futures	TBK	CC	382
WTI Houston (Argus) vs. Brent Cross-Month futures	HBX	CC	382
WTI Midland (Argus) vs. Brent Cross-Month futures	WBX	CC	382

These  will be available for customer testing in New Release on Monday, March 13.

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

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Micro E-mini S&P MidCap 400 and SmallCap 600 Futures - March 19

Effective Sunday, March 19 (trade date Monday, March 20), pending completion of all regulatory review periods, Micro E-mini S&P MidCap 400 and Micro E-mini SmallCap 600 futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

Micro E-mini S&P MidCap 400 and SmallCap 600 Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
Micro E-mini S&P MidCap 400 Index futures	MMC	ME	318
Micro E-mini S&P SmallCap 600 Index futures	MSC	SC	318

These futures will be available for customer testing in New Release on Monday, March 13.

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

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Product Changes

NewNew - Delisting and Removal of Canadian Crude Products - March 3

On Monday, February 27, the following Canadian Crude Products were delisted, and effective close of business Friday, March 3 these futures and options will be removed from CME Globex.

Delisting and Removal of Canadian Crude Products
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group
Edmonton Light Sweet (NE2) Monthly Index Futures	LSW	BB
Edmonton C5+ Condensate (NE2) Monthly Index Future	CC5
Edmonton Light Sweet (NE2) Monthly Index Average Price Option	SWO
Dakota Access Bakken (NE2) Monthly Index Futures	DAB
Hardisty Western Canadian Select (NE2) Monthly Index Futures	WCW
Guernsey Light Sweet (NE2) Monthly Index Futures	GSW
Edmonton Synthetic Sweet (NE2) Monthly Index Futures	SSW
Hardisty Western Canadian Select (NE2) Monthly Index Average Price Option	WCI
Clearbrook Bakken Sweet (NE2) Monthly Index Futures	CSW
Edmonton Synthetic Sweet (NE2) Monthly Index Average Price Option	SSO
Edmonton C5+ Condensate (NE2) Monthly Index Average Price Option	CCO
Western Canadian Select (WCS) Crude Oil Futures	WCE
Western Canadian Select (WCS) Crude Oil Option	WCO

These futures and options currently have no open interest.

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Changes to Trading Hours for BTICs on Commodity Indexes  - March 12

Effective Sunday, March 12 (trade date Monday, March 13), pending completion of all regulatory review periods, the trading hours for BTICs on Commodity Indexes will be updated as follows:

Changes to Trading Hours for BTICs on Commodity Indexes
PRODUCT	MDP 3.0: TAG 6937-ASSET	ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP	current trading hours	new trading hours
BTIC on Bloomberg Roll Select Commodity Index futures	DRT	LH	Sunday-Friday 5:00 p.m.-4:00 p.m. CT.	Sunday-Friday 5:00 pm - 1:30pm CT
BTIC on S&P-GSCI Excess Return Index futures	GIT	GH
BTIC on S&P-GSCI Commodity Index futures	GDT	GT

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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UpdateUpdate - Change to Maximum Order Quantity for Three-Month SOFR Futures: Resting Order Eliminations - March 19

† Denotes update to the article

Effective Sunday, March 19 (trade date Monday, March 20), the maximum order quantity, tag 1140-MaxTradeVol, in the Security Definition (tag 35=d) message will be changed for the following Three-Month SOFR futures and spreads.

Please note: To facilitate this change, customers will be asked to cancel all Good ‘Till Cancel (GTC) and Good ‘Till Date (GTD) orders for Last-5 (Purples/Oranges/ Pinks/Silvers/Coppers) futures and spreads, by the close on Friday, March 17. After 16:00 CT on Friday, March 17, any remaining GT orders on these markets will be removed by the CME Globex Command Center (GCC).

Change to Maximum Order Quantity for Three-Month SOFR Futures
PRODUCT	SPREADS	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
Three-Month SOFR futures	Fronts – (November 2023 to December 2024)	SR3	SS	30000	50000
	Reds (Mar 2025 - Dec 2025)			30000	50000
	† Greens (Mar 2026 - Dec 2026)			30000	30000
	Blues			30000	30000
	Golds			30000	30000
	Last-5 (Purples/Oranges/ Pinks/Silvers/Coppers)			30000	10000
	All Intra-commodity Spreads except SR3-BSB			30000	50000
Three-Month SOFR futures vs Three-Month Bloomberg Short-Term Bank Yield (BSBY) futures (SR3-BSB)	Intra-commodity Spreads	SR3	BW	9999	10000

Please note: The maximum order quantity in the Green, Blue, and Gold years will remain the same.

These changes will be available for customer testing in New Release on Monday, March 13.

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Listing Cycle Expansion for Three-Month SOFR Futures - March 19

Effective Sunday, March 19 (trade date Monday, March 20), the listing cycle for the Three-Month SOFR futures will be expanded on CME Globex.

Listing Cycle Expansion for Three-Month SOFR Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current Listing Schedule	New Listing Schedule
Three-Month SOFR futures	SR3	SS	41 quarterly months and 4 serial months	41 quarterly months and 6 serial months

These futures will be available for customer testing in New Release on Monday, March 13.

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

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Change to External Alias and Strike Price Listing for certain Nasdaq Options; Resting Order Eliminations  - March 19

Effective Sunday, March 19 (trade date Monday, March 20), strike price listing rule will be changed for the following Nasdaq-100 options on CME Globex and for submission for clearing via CME ClearPort. With this change, the external alias will display the full strike price.

• Example: tag 55-Symbol= NQZ3 P16000, currently the strike price on the external alias truncates a single digit – Example: tag 55-Symbol = NQZ3 P1600

Please note: To facilitate this change, customers will be asked to cancel all Good ‘Till Cancel (GTC) and Good ‘Till Date (GTD) orders for certain Nasdaq options contracts, by the close on Friday, March 17. After 16:00 CT on Friday, March 17, any remaining GT orders on these markets will be removed by the CME Global Command Center (GCC).

Change to External Alias and Strike Price Listing for Equity 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
E-mini Nasdaq-100 Options	NQ	QZ	500-point increment: -80% - +30% (when listed) 250-point increment: -40% - +20% (<96 DTE) 100-point increment: -30% - +15% (<66 DTE) 50-point increment: -20% - +10% (<35 DTE) 10-point increment: -10% - +5% (<5 DTE)	500-point increment: -80% - +30% (when listed) 250-point increment: -40% - +20% (<96 DTE) 100-point increment: -30% - +15% (<66 DTE) 50-point increment: -20% - +10% (<35 DTE) 25-point increment: -10% - +5% (<10 DTE) 10-point increment: -10% - +5% (<5 DTE)
E-mini Nasdaq-100 End-of-Month Options	QNE	NW
E-mini Nasdaq-100 Monday Weekly Options - Week 1-5	Q1A-Q5A	NW
Tuesday Weekly Options on E-mini Nasdaq-100 Index Futures - Week 1-5 (European-Style)	Q1B-Q5B	QZ
E-mini Nasdaq-100 Wednesday Weekly Options - Week 1-5	Q1C-Q5C	NW
Thursday Weekly Options on E-mini Nasdaq-100 Index Futures - Week 1-5 (European-Style)	Q1D-Q5D	QZ
E-mini Nasdaq-100 Weekly Options - Week 1-4	QN1-QN4	NW
Options on Micro E-mini Nasdaq-100 Index Futures	MNQ	NE
Micro E-mini Nasdaq-100 Index EOM Options	MQE	NE
Weekly Options on Micro E-mini Nasdaq-100 Index Futures - Week 1-4	MQ1-MQ4	NE
Monday Weekly Options on Micro E-mini Nasdaq-100 Index Futures - Week 1-5 (European-Style)	D1A-D5A	NE
Tuesday Weekly Options on Micro E-mini Nasdaq-100 Index Futures - Week 1-5 (European-Style)	D1B-D5B	NE
Wednesday Weekly Options on Micro E-mini Nasdaq-100 Index Futures - Week 1-5 (European-Style)	D1C-D5C	NE
Thursday Weekly Options on Micro E-mini Nasdaq-100 Index Futures - Week 1-5 (European-Style)	D1D-D5D	NE

For the options strike price value, customers are advised to leverage tag 202-StrikePrice on the MDP 3.0 Security Definition (tag 35-MsgType=d) message.

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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Enable Implied Functionality for CME FX Futures - April 2

Effective Sunday, April 2 (trade date Monday, April 3), pending completion of all regulatory review periods, implied functionality for the following CME FX futures will be enabled for all outright contracts and calendar spread combinations for the first 12 consecutive contract months on CME Globex.

Enable Implied Functionality for CME FX Futures
PRODUCT	MDP 3.0: TAG 6937-ASSET	ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP
British Pound Sterling/U.S. Dollar (GBP/USD) futures	6B	6B
Canadian Dollar/U.S. Dollar (CAD/USD) futures	6C	6C
Japanese Yen/U.S. Dollar (JPY/USD) futures	6J	6J
Australian Dollar/U.S. Dollar (AUD/USD) futures	6A	6A
Euro/U.S. Dollar (EUR/USD) futures	6E	6E

Please note: The Non-Reviewable Range of each leg spread will be evaluated as an outright.

Implied eligible instruments, are identified in the MDP 3.0 Security Definition (tag 35-MsgType=d), in repeating group tag 871-InstAttribType:

• tag 872-InstAttribValue= 19: Implied Matching Eligibility

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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Events and Announcements

SPAN 2 Approximation Files Available Now

As previously announced, the SPAN 2 framework will be rolled out for specific product groupings in a phased multi-year approach after extensive testing, starting with major NYMEX energy futures and options on futures. 

To help clients prepare for this launch, CME Group is offering the following services:

• Tools for replicating SPAN 2 margin requirements through software and API solutions for post-trade processes.
• New SPAN 2 approximation file to help firms estimate SPAN 2 margins in low latency margin calculation scenarios for pre-trade margin approximation processes.

Please contact PostTradeServices@cmegroup.com now to get ready for this critical migration.

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POSTPONED: CME Group Backup Datacenter Migration and Test

The previously communicated March 4 backup datacenter migration test has been postponed. A new date and exercise details will be shared in future CME Globex notices.

Please contact your Global Account Manager or operationalresilience@cmegroup.com with any questions.

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Change to Access Manager Expiration Window Enforcement Time - March 19

Effective Sunday, March 19 (trade date Monday, March 20), to prevent orders during the pre-open period from unauthorized accounts managed in Access Manager, the expiration window enforcement time will be changed to 4 p.m. Central time (CT) from the current 5 p.m. CT.

There are no changes to API messaging or GUI displays with this enhancement.

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

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Delisting of Morningstar Indexes - March 31

As previously announced by Morningstar, at close of business Friday, March 31, Morningstar Indexes on CME S&P Streamlined Market Data for Equity Indices (channel ID 210) will be delisted.

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