For the latest roadmap of CME Group technology initiatives:
See the Development Launch Schedule.
Critical Updates
Increased Mass Quote Messaging Capacity - January 7, 2024
Effective Sunday, January 7, 2024 (trade date Monday, January 8), customers will be able to quote and quote cancel up to 375 messages per second (MPS). Currently, customers can quote or quote cancel a maximum of 350 MPS.
| Messaging Thresholds for Mass Quote and Quote Cancel | |||
|---|---|---|---|
| Environment | Current Reject Threshold | New Reject Threshold | Interval |
| Production | 350 | 375 | Three-second window |
| New Release | 20 | 25 | Three-second window |
This change is currently available for customer testing in New Release.
More information about Mass Quote Messaging Thresholds is available in the Client Systems Wiki.
Term Secured Overnight Financing Rate (SOFR) Reference Rates on MDP Channel 312 - January 7, 2024
Effective Sunday, January 7, 2024 (trade date Monday, January 8), Term SOFR Reference Rates will only be available on the CME Benchmark Administration Premium MDP and GCP channels and will no longer be published on the CME Globex MDP channel 312.
Clients are strongly encouraged to migrate to the CME Benchmark Administration Premium channels for Term SOFR Reference Rates as soon as possible.
Currently, Term SOFR Reference Rates are available on both CME Benchmark Administration Premium channel 261 and CME Globex Interest Rate futures channel 312.
| Term SOFR Rates | ||
|---|---|---|
| RATES | MDP 3.0: TAG 6937-ASSET | MDP 3.0 TAG 1151 - SECURITY GROUP |
| Term SOFR 1-Month | TR1 | 04 |
| Term SOFR 3-Month | TR3 | 04 |
| Term SOFR 6-Month | TR6 | 04 |
| Term SOFR 12-Month | T1Y | 04 |
These changes are currently available in New Release for customer testing.
Cash Settled Commodities Indices available via CME Benchmark Administration Premium - January 21, 2024
Effective Sunday, January 21, 2024 (trade date Monday, January 22), CME Group will launch the Cash Settled Commodities Indices, as shown in the table below, on CME Benchmark Administration Premium. The messages for these indices will be sent on the Benchmark Administration Premium Simple Binary Encoding (SBE) Multicast channel ID 261 via SBE template MDIncrementalRefreshSettle401 same as the Petroleum Indices.
With this launch, the ITC Category Code Y - Cash Prices messages for these indices will no longer be supported effective Sunday, March 17, 2024 (trade date Monday, March 18) and fully decommission the impacted indices in Q2 2024.
| Index Name | Market | Current ITC Ticker | Current ITC Channel | Future SBE Ticker (tag 55- Symbol) |
Future SBE Channel ID |
|---|---|---|---|---|---|
| Fresh Bacon Index | CME | IB | 3 | IBX | 261 |
| Lean Hog Index | CME | IH | 3 | IHX | 261 |
| Pork Cutout Index | CME | IJ | 3 | IJX | 261 |
| Boxed Beef Index | CME | IM | 3 | IMX | 261 |
Please Note: The Feeder Cattle Composite Index (ICX) will continue to be sent via ITC Category Code Y - Cash Prices message.
These indices are currently available for customer testing in New Release.
NewiLink 3 Party Details Harmonization - January 28, 2024
Effective Sunday, January 28, 2024 (trade date Monday, January 29), CME Group will implement the iLink 3 messaging changes to Pre-Registered administrative information to be consistent with the On-Demand administrative information. These changes will also bring the front-end messaging into alignment with the back-office feeds and simplify the reconciliation process.
Field Capitalization
CME Globex will capitalize tag 1691-PartyDetaiID values on the following Party Detail Roles on the Pre-Registered Party Detail Definition Request Acknowledgment messages sent from Order Entry Service Gateway to Client System. Client systems are not required to send capitalized values to CME Globex, but capitalized values will always be returned.
| iLink 3 Party Details Definition Request Acknowledgment (tag 35=CY) | ||
|---|---|---|
| Tag 1693 - Party Detail Role | Current Submitted/Return tag 1691-PartyDetailID Value Behavior | New Return tag 1691-PartyDetailID Value Behavior |
| 24 (customer account) 1000 (take up account) |
aBcde | ABCDE |
Field Truncation
CME Group will truncate tag 1691-PartyDetaiID values on the following Party Detail Roles on the Pre-Registered Party Details Definition Request Acknowledgment messages sent from Order Entry Service Gateway to Client System. If this tag values submitted on the Party Details Definition Request message exceeds the required length, iLink 3 will return a truncated required length from the right on the response.
| iLink 3 Party Details Definition Request Acknowledgment (tag 35=CY) | |||
|---|---|---|---|
| Tag 1693 - Party Detail Role | Required Length | Current Submitted/Return tag 1691-PartyDetailID Value Behavior | New Return tag 1691-PartyDetailID Value Behavior |
| 24 (customer account) | 12 | 1234567890987Account | 90987ACCOUNT |
| 1000 (take up account) | 11 | 1234567890987Account | 0987ACCOUNT |
| 96 (take up firm) | 3 | 10f23 | f23 |
These changes are only applicable to the Pre-Registered administrative information. There is no change to the On-Demand Party Detail Definition Request Acknowledgment (tag 35=CY) messages sent from Market Segment Gateway to Client System.
More detailed information on Party Details is available in iLink 3 Party Details Definition Messaging.
These changes will be available for customer testing in New Release on Thursday, December 7, 2023.
Mandatory Migration - iLink 3 Binary Order Entry Protocol for CGW - January 28, 2024
CME Group is introducing iLink 3 on Convenience Gateways (CGW) for trading futures and options on CME Globex. The iLink 3 protocol will launch on the existing CGWs on Sunday, January 28, 2024 (trade date Monday, January 29). All customers connected via CGW will need to migrate to iLink 3 by December 31, 2024.
iLink 3 includes:
- Simple Binary Encoding (SBE) for faster message encoding and decoding
- A simple, lightweight, point-to-point session layer protocol using FIX Performance (FIXP)
- More efficient iLink FIX messaging
- Standard message size, fixed positions, and fixed length fields
- A consistent encoding method for order entry and market data
The Client Impact Assessment is available and provides detailed functionality and messaging information.
Based on customer feedback and to better align with iLink 2 CGW, Cancel on Disconnect (COD) will be optional functionality for all iLink 3 CGW sessions. Customers will be able to request COD functionality to be disabled or enabled in:
- New Release – Now available
- Production – Now available
Please note that all iLink 3 CGW sessions will be created with COD enabled. Clearing Firm Administrators can disable COD functionality by entering the change request via Firm Admin Dashboard (FADB).
iLink 3 on CGW is currently available in New Release for customer testing.
AutoCert+ certification is required for all client systems using CGWs.
- Now Available – iLink 3 CGW functionality available in New Release and AutoCert+ certification
- January 28, 2024 – Production launch of iLink 3 on CGW
- December 31, 2024 – Deadline for customer migration
- January 31, 2025 - iLink 2 on CGW Decommission
To participate in the mock trading sessions please register and view the mock trading script.
Further information on the production launch deployment schedule, and mock trading sessions will be published in upcoming CME Globex Notices.
Please contact your Global Account Manager for additional information.
Drop Copy Impacts - Mandatory iLink 3 Binary Order Entry Protocol for Convenience Gateway - January 28, 2024
On Sunday, January 28, 2024 (trade date Monday, January 29), CME Group will launch the iLink 3 protocol on existing Convenience Gateways (CGW) for trading futures and options on CME Globex. All customers connected via Convenient Gateway (CGW) are encouraged to migrate to iLink 3 as early as possible prior to the iLink 2 decommission. Key events and dates are available.
Impacts of mandatory iLink 3 Binary Order Entry protocol for Convenience Gateway on Drop Copy Convenience Gateway target sessions.
- Message encoding: The Drop Copy encapsulated XML Non-Fix (tag 35-MsgType=n) Message payload sent from iLink 3 source sessions will be in ASCII format.
- Message payload mapping conforming to the iLink 3 formats and encoding will feature deprecated message tags, additional tags and enumerations for order entry, clearing and regulatory compliance messaging specifications.
- A summary of ASCII encoded tags with their equivalent values in Simple Binary Encoding tags and enumerations is available.
- Target Session: Current Drop Copy CGW target session users do not need to request new target sessions although upon requesting the mandatory iLink 3 source session, a new target session may be automatically created to accommodate iLink order entry infrastructure load balancing and optimization considerations. Customers are requested to check for new automatically generated Drop Copy CGW target sessions.
- Parallel period: During the parallel period which runs until December 31, 2024, CME Globex will support Drop Copy target sessions connected to both iLink 2 and iLink 3 CGW sessions. When iLink 2 is decommissioned on December 31, 2024, any Drop Copy target sessions with iLink 2 sessions only will be removed from the platform.
- AutoCert+ Certification: Certification is not required for existing Drop Copy CGW session users.
Please review Mandatory iLink 3 Binary Order Entry Protocol for CGW for additional details.
UpdateGLink Network Infrastructure Upgrade in Aurora - February 3, 2024
† Denotes update to the article
The GLink Network Infrastructure Upgrade in Aurora will take place Saturday, February 3, 2024, *subject to testing results. This network upgrade consists of:
- Replacement of the existing end of life (EOL) Juniper switches with new Arista switches which will use new customer ports and new CME Group IP addresses
- Assignment of new GLink SiteIDs and Point-to-Point IPs by CME Group
- Customers are required to reuse their original Juniper customer source IP addresses
- Introduction of a new GLink Demarc Cable providing customers with equidistant connectivity to any rack unit (RU) in their cabinet
Please Note: The GLink Network Infrastructure Upgrade in Aurora will take place Saturday, February 10, 2024, if additional testing is required.
To ensure stability for our customers prior to launch, CME Group instituted a provisioning freeze for GLinks on the Juniper network effective August 30, 2023. Customers will be able to place orders for new GLinks on the Arista network during the freeze. Orders placed before Friday, December 1, will be provisioned and activated with the launch. Orders received after Friday, December 1, will be provisioned and activated in the order they were received after the launch. Juniper GLinks can no longer be ordered. †CME will institute a full freeze on all GLink move, add, and change requests starting Friday, December 1, and lasting until February 2024.
The expanded Arista network will provide additional capacity to support future growth.
In addition, the new GLink Demarc Cable will allow customers to optimize their CME Co-Location Licensed Space.
An updated Pending Client System Impact, with general dates and updated technical specifications, is now available. For questions or to discuss available migration options, please contact Global Account Management.
Product Launches
NewListing Cobalt and Lithium Average Price Options - December 10
Effective Sunday, December 10 (trade date Monday, December 11), pending completion of all regulatory review periods, the following average price options will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.
| Listing Cobalt and Lithium Average Price Options | ||||
|---|---|---|---|---|
| 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 |
| Cobalt Metal (Fastmarkets) Average Price Option | COO | C2 | C4 | 361 |
| Lithium Hydroxide CIF CJK (Fastmarkets) Average Price Option | LHO | L4 | L5 | 361 |
These options will be available for customer testing in New Release on Monday, December 4.
These contracts are listed with, and subject to, the rules and regulations of COMEX.
Bursa Malaysia Derivatives (BMD) Mini United States Dollar/Chinese Renminbi (HK) (USD/CNH) Futures - December 10
Effective Sunday, December 10 (trade date Monday, December 11), and pending final regulatory approval, Bursa Malaysia Derivatives (BMD) Mini United States Dollar/Chinese Renminbi (HK) (USD/CNH) futures and spreads will be made available for trading on CME Globex.
| Bursa Malaysia Derivatives (BMD) Mini United States Dollar/Chinese Renminbi (HK) (USD/CNH) Futures | |||
|---|---|---|---|
| Product | MDP 3.0: tag 6937-Asset | iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group |
Market Data Channel |
| Mini United States Dollar/Chinese Renminbi (HK) (USD/CNH) futures | FCNH | B6 | 430 |
These futures and spreads are currently available for customer testing in New Release.
These contracts are listed with, and subject to, the rules and regulations of BMD.
WTI-Brent Crude Oil Cross-Month Spread Option (One-Month) - December 10
Effective Sunday, December 10 (trade date Monday, December 11), pending completion of all regulatory review periods, WTI-Brent Crude Oil Cross-Month Spread option (One-Month) will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.
| WTI-BRENT CRUDE OIL CROSS-MONTH SPREAD OPTION (ONE-MONTH) | ||||
|---|---|---|---|---|
| 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 |
| WTI-Brent Crude Oil Cross-Month Spread Option (One-Month) | BVX | LO | 1N | 380 |
This option will be available for customer testing in New Release on Monday, December 4.
These contracts are listed with, and subject to, the rules and regulations of NYMEX.
Product Changes
Changes to Eris and MAC Interest Rate Swap Futures - November 27
Starting Friday, November 10, through Monday, November 27 (trade date Tuesday, November 28), the March 2024 contract months for the following Swap futures were temporarily suspended from trading and clearing, to support the amendment of the March 2024 coupon rate.
On trade date Tuesday, November 28, pending all relevant CFTC regulatory review periods, the March 2024 coupon rates for Eris SOFR Swap futures, and MAC SOFR Swap futures contracts will be adjusted as follows:
| TEMPORARY SUSPENSION OF SWAP FUTURES | ||||
|---|---|---|---|---|
| PRODUCT | MDP 3.0: TAG 6937-ASSET | ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP |
Current Coupon rate (%/year) |
New Coupon rate (%/year) |
| 1-Year Eris SOFR Swap Futures | YIA | EB | 4.00 | 4.25 |
| 2-Year Eris SOFR Swap Futures | YIT | EB | 3.50 | 4.00 |
| 3-Year Eris SOFR Swap Futures | YIC | EB | 3.50 | 4.50 |
| 4-Year Eris SOFR Swap Futures | YID | EB | 3.25 | 4.75 |
| 5-Year Eris SOFR Swap Futures | YIW | EB | 3.25 | 4.25 |
| 7-Year Eris SOFR Swap Futures | YIB | EJ | 3.25 | 4.25 |
| 10-Year Eris SOFR Swap Futures | YIY | EJ | 3.25 | 4.25 |
| 12-Year Eris SOFR Swap Futures | YII | EJ | 3.25 | 4.00 |
| 15-Year Eris SOFR Swap Futures | YIL | EK | 3.25 | 4.25 |
| 20-Year Eris SOFR Swap Futures | YIO | EK | 3.25 | 4.00 |
| 30-Year Eris SOFR Swap Futures | YIE | EK | 3.00 | 4.00 |
| 2-Year MAC SOFR Swap Futures | T1S | SJ | 3.50 | 4.00 |
| 5-Year MAC SOFR Swap Futures | F1S | SF | 3.25 | 4.25 |
| 7-Year MAC SOFR Swap Futures | S1S | S7 | 3.25 | 4.25 |
| 10-Year MAC SOFR Swap Futures | N1S | SN | 3.25 | 4.25 |
| 20-Year MAC SOFR Swap Futures | E1S | S2 | 3.25 | 4.00 |
| 30-Year MAC SOFR Swap Futures | B1S | SM | 3.00 | 4.00 |
These products currently have no open interest.
Early Listing of Bitcoin and Micro Bitcoin Weekly Options - December 3
Effective Sunday, December 3 (trade date Monday, December 4), pending completion of all regulatory review periods, the following weekly options will be listed early for trading on CME Globex and for submission for clearing via CME ClearPort.
| Listing of Bitcoin and Micro Bitcoin Weekly Options | ||
|---|---|---|
| PRODUCT | MDP 3.0: TAG 6937-ASSET | ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP |
| Monday – Friday Weekly Options on Micro Bitcoin Futures | W1A-W5A W1B-W5B W1C-W5C W1D-W5D W1E-W4E |
B1 |
| Monday - Friday Weekly Options on Bitcoin Futures | P1A-P5A P1B-P5B P1C-P5C P1D-P5D P1E-P4E |
B2 |
These weekly options are currently available for customer testing in New Release.
These contracts are listed with, and subject to, the rules and regulations of CME.
Changes to Event Contracts on Euro/US Dollar Futures - December 3
Effective Sunday, December 3 (trade date Monday, December 4), the following amendments will be made to Event Contracts on Euro FX/US Dollar futures.
- The external ITC alias will display the full strike price – Example: EC6EN331 P10950, currently the strike price on the ITC external alias truncates a single digit. Example: EC6EN331 P1095
- The strike price listing rule will be more granular on CME Globex and for submission for clearing via CME ClearPort
| EVENT CONTRACTS ON EURO/US DOLLAR FUTURES | ||||||
|---|---|---|---|---|---|---|
| PRODUCT | MDP 3.0: TAG 6937-ASSET | ILINK: TAG 55-SYMBOL MDP 3.0 TAG 1151 - SECURITY GROUP |
CURRENT ITC STRIKE PRICE FORMAT | NEW ITC STRIKE PRICE FORMAT | CURRENT STRIKE PRICE LISTING | NEW STRIKE PRICE LISTING |
| Event Contracts on Euro/US Dollar (EUR/USD) Futures | EC6E | V6 | 4 bytes | 5 bytes | 8 strikes at $0.0025 increment above and below the at-the money strike then 4 strikes at $0.0050 increment above and below the highest and lowest $0.0025 increment strike. Upon demand and at the discretion of the exchange, additional strikes added in $0.0025 and $0.0050 increments. | 8 strikes at $0.0010 increment above and below the at-the money strike then 8 strikes at $0.0025 increment above and below the highest and lowest $0.0010 increment strike, then 4 strikes at $0.0050 increment above and below the highest and lowest $0.0025 increment strike. Upon demand and at the discretion of the exchange, additional strikes added in $0.0010 and $0.0025 increments. |
Please Note: The CME Globex strike price format in tag 55-Symbol in the MDP 3.0 Security Definition (tag 35-MsgType=d) will remain unchanged.
These contracts are currently available for customer testing in New Release.
These contracts are listed with, and subject to, the rules and regulations of CME.
Events and Announcements
CME Group Settlement File and Daily Bulletin Modifications - January 8, 2024
Effective Monday, January 8, 2024, CME Group Settlement Files and Daily Bulletin will no longer be available through the below File Transfer Protocol (FTP) links, as CME Group will cease support of these FTP folders:
- https://www.cmegroup.com/ftp/settle/
- https://www.cmegroup.com/ftp/bulletin
- ftp.cmegroup.com/settle
- ftp.cmegroup.com/bulletin
As a result, CME Group will be making this information available to clients in the following ways:
- Daily Bulletin: CME Group Daily Bulletin files will continue to be available via the Daily Bulletin web page.
- Settlement Files: CME Group daily Settlement Files are available via the CME DataMine platform. Please take note the publication times of these files will be midnight Central Time (CT) but will continue to be available free of charge. For those that require daily Settlement Files before midnight, the end of day file is available via CME DataMine with paid subscription.
Clients with real-time or delayed market data licenses can receive their data via CME MDP 3.0 Market Data, CME Group Data on Google Pub/Sub, or an authorized distributor of CME Group market data, may expect settlement publication times to remain unchanged.
DataMine
| Dataset | Times Available (CT) | Fee Liable |
|---|---|---|
| End of Day File | 5:30 p.m.; 9:30 p.m.; and 9:30 a.m. (following day) | Yes |
| Settlements File | Midnight | No |
Contemporaneous with these changes, settlement prices on cmegroup.com product pages will also be published at midnight CT.
You are encouraged to assess your firms’ requirements as soon as practicable to ensure there is no material disruption to the use of data procured from the CME Group FTP site today.
More information will be made available in subsequent CME Globex Notices.
For more information, contact marketdata@cmegroup.com.
