CME STP Notices: August 13, 2020

CME STP

Enhancement to CME STP Transaction Type - Q3 2020

In Q3 2020, new trades on CME STP submitted through CME ClearPort will be reported using TransTyp=”0” (New), currently new trades are reported using TransTyp=”2” (Replace).

This enhancement is available in the New Release for customer testing.

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CME STP Support of BrokerTec Markets - Q4 2020

Effective Q4 2020 subject to applicable regulatory approvals, to support the integration of BrokerTec markets with CME Group technology, transactions executed on CME Globex, BrokerTec Direct, and registered external deals will be available for consumption on CME STP and CME STP FIX.

Please Note: Client systems that submit subscriptions for trades with dates covering the cut-over weekends will receive trades executed in the previous week.

For more information, including specifications and workflows, please review the Client Impact Assessments.

• CME STP FIX Support for BrokerTec Trades
• CME STP FIXML Support for BrokerTec Trades

These enhancements will be available for customer testing in New Release as follows:

For further information, contact CME STP Onboarding and General Information:

US: 1 212 299 2445
Europe: 44 20 3379 3797
Asia: 65 6593 5582
Email:STP@cmegroup.com

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CME STP FIX

CME STP FIX Migration and Messaging Enhancements - August 30

Starting Sunday, August 30 (trade date Monday, August 31), CME Group will implement the following changes to CME STP FIX.

• Session migrations (in Production only)
• Changes to tag ordering in message header
• Changes to unauthorized request response
• Enhancing the Reject message text for missing mandatory tags
• Changes to MLegRptTyp (Tag 442) default behavior
• Validation of Trade Capture Report Request (AE) message

These changes ware currently available for client testing in the New Release.

Details of these changes to CME STP FIX are provided below:

Session Migrations

Production: Starting Monday, August 30, in a phased migration, customers will need to connect to new source IP addresses and URLs to access CME STP FIX. Please contact your Global Account Manager with for additonal information.

New Release: There are no migrations required for New Release sessions. Clients will not experience source IP or URL changes. To ensure a smooth migration, customers are strongly encouraged to test the following messaging enhancements in New Release.

Changes to tag ordering in message header

The tag ordering for all CME STP FIX messages will be harmonized to simplify client support. Previously specific message types (Logon Ack, Logoff Ack, Heartbeat, Reject, TradeCaptureReport Ack, TradeCaptureReport and CollateralReport) used a different ordering.

Changes to unauthorized request response

Currently, CME STP FIX does not publish a response message to queries for unentitled Party IDs.

With this change, the query for unentitled Party IDs will be rejected and an authorization failed message sent to clients. CME STP FIX sends Trade Capture Report Request Ack (tag 35-MsgType=AQ) – Reject with tag 750-TradeRequestStatus = 2 (Rejected) and tag 749-TradeRequestResult = 9 (Unauthorized for Trade Capture Report Request) Tag 58-Text ="Authorization FAILED”

Enhancing the Reject Message text for missing mandatory tags

Currently, the reject message text in tag 58-Text in the Trade Capture Report Request Ack (tag 35-MsgType=AQ) reject message for invalid messages describes the high-level FIX error. For example: tag 58=Unsupported Request Type: Illegal Request Type

With this launch, the reject message will explicitly identify the missing mandatory tag in the Reject message.

Example 1: 58=Field was not found in message, field=<Tag Number>

Example 2: 58=Field not valid: 452=77

Changes to MLegRptTyp (Tag 442) implementation

Currently the value in Tag 442-MLegRptTyp in the Trade Capture Report Request message resolves to a default value of ‘2’ for clients using 3rd party client applications even when submitted as ‘3’.

With this change, CME STP FIX will harmonize behavior for MLegRptTyp so that 442 will be optional for all users and will only default to ‘2’ if not sent. If tag 442 is sent on the request, CME Group will respond accordingly to the submitted value.

Validation of Trade Capture Report Request (AD) message

Currently, a client system Trade Capture Report Request (tag 35-MsgType=AD) for trades (tag 580-NoTradeDates) spanning more than one trade date (tag 75-TradeDate), will be acknowledged with only one trade for the given trade date.

With this change, CME STP FIX will only send the first trade message for requested trade date (tag 75-TradeDate) and also send a reject message with Trade Capture Report Request Ack (tag 35-MsgType=AQ) – Reject with tag 750-TradeRequestStatus = 2 (Rejected) and Tag 58-Text =” 58=Field not valid” for a subscription request with more than one trade date.

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Enhancement to CME STP FIX Transaction Type - Q3 2020

In  Q3 2020, new trades on CME STP FIX submitted through CME ClearPort will be reported using TransTyp=”0” (New), currently new trades are reported using TransTyp=”2” (Replace).

This enhancement is available in the New Release for customer testing.

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CME STP FIX Support of BrokerTec Markets - Q4 2020

Effective Q4 2020 subject to applicable regulatory approvals, to support the integration of BrokerTec markets with CME Group technology, transactions executed on CME Globex, BrokerTec Direct, and registered external deals will be available for consumption on CME STP and CME STP FIX.

Please Note: Client systems that submit subscriptions for trades with dates covering the cut-over weekends will receive trades executed in the previous week.

For more information, including specifications and workflows, please review the Client Impact Assessments.

• CME STP FIX Support for BrokerTec Trades
• CME STP FIXML Support for BrokerTec Trades

These enhancements will be available for customer testing in New Release as follows:

For further information, contact CME STP Onboarding and General Information:

US: 1 212 299 2445
Europe: 44 20 3379 3797
Asia: 65 6593 5582
Email:STP@cmegroup.com

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Contacts

Please contact the following support teams for:

• New Release Environment Support:
  Certification Support for Electronic Trading (CSET) in the U.S. at +1 312 930 2322, in Europe at +44 20 3379 3803 or in Asia at +65 6593 5593.
• Production Environment Support:
  CME Global Command Center (GCC) in the U.S. +1 800 438 8616, in Europe at +44 20 7623 4747 or in Asia at +65 6532 5010.

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