The Drop Copy service allows clients to receive real-time copies of Globex Execution Report and Acknowledgement messages as they are sent over iLink order entry system sessions. Drop Copy aggregates iLink messages, enabling clients to aggregate positions and monitor orders for sessions guaranteed by one or more clearing firms upon approval of the clearing firms. Drop Copy is a risk management service designed to facilitate real-time monitoring of order and trading activity on the Globex platform. Drop Copy sends ASCII encoded copies of iLink execution reports, heartbeats and acknowledgements and trade bust messages for one or many source sessions through a FIX protocol-based messaging interface.

Get more information about testing and certification here.

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No, the Drop Copy service is a read-only interface that does not support order entry or cancellation on the Globex platform.

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Drop Copy Group: A client-defined grouping of iLink sessions for which Drop Copy data will be consolidated.

iLink Source Session: An iLink order entry session which feeds into a Drop Copy group. A given iLink session can be a source session for more than one Drop Copy group. 

Drop Copy Target Session: A CME Group-determined FIX session over which the Drop Copy data is delivered. A single Drop Copy group may have multiple target sessions based on the configuration characteristics of the source sessions which feed the Drop Copy group.

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Convenience Gateway (CGW) target session: The CGW target sessions will receive real-time messages from CGW source sessions.

Market Segment Gateway (MSGW) target session: MSGW target sessions will receive real-time messages from source sessions that are unique per market segment and session combination. Clients need to connect to each MSGW target session in order to receive Drop Copy messages from each specific market segment gateway.

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Drop Copy Convenience Gateway (CGW) target session: Consumers manage sequence streams from Convenience Gateway iLink source sessions across all market segments.

Drop Copy Market Segment Gateway (MSGW) target session: Consumers manage sequence streams from Market Segment Gateway iLink source sessions per unique market segment.

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There is no limit to the number of iLink source sessions that can feed into a single Drop Copy group.

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The number of Drop Copy target sessions required depends upon the distribution of the iLink source sessions across the Globex environment and the type of Drop Copy session. The number is based upon the number of iLink Gateways used by those sessions. As a result, all clients should architect their software to support multiple Drop Copy target sessions for a given Convenience session Drop Copy group. MSGW Drop Copy Targets will only have one target session per Drop Copy group.

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A single Drop Copy Convenience Gateway (CGW) target can have up to 1000 CGW sendercomps.

A single Drop Copy Market Segment (MSGW) target can have up to 5000 MSGW sendercomps.

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The first Drop Copy group is free for each entity. Each subsequent Drop Copy group costs $500/month. Clients control the number of Drop Copy groups; there is no limit to the number of source sessions assigned to a Drop Copy group.

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Yes, the Drop Copy service will include order and fill data for all products traded on CME Globex. However, it does not distinguish order flow between exchanges on a given session ID.

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Drop Copy supports messaging from iLink source sessions for CME Group listed derivatives, BrokerTec and EBS Market on Globex. 

• CME Group listed derivatives: iLink source session messaging for Convenience Gateway (CGW) and Market Segment Gateway (MSGW)
• BrokerTec: iLink source session messaging for Market Segment Gateway (MSGW)
• EBS Market: iLink source session messaging for Market Segment Gateway (MSGW) and Convenience Gateway (CGW)

NOTE: Drop Copy groups are supported separately by venue

• CME Group listed derivatives
• BrokerTec
• EBS Market

Relationship based trading venues (e.g., EBS Direct) are not supported on Drop Copy.

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Yes, a single iLink source session can be configured to feed into one or more Drop Copy groups and the target sessions related to those groups.

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A FIX Resend Request should be used for retrieving less than 2,500 most recent messages at a time.

FIX resend requests will be restricted to a 48-hour window, which begins after the Sunday start-up. Messages requested as part of FIX resend request, which fall outside of the 48-hour window will not be honored and the request will be rejected.

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When you are ready to test, your Global Account Manager will provide you with a temporary Drop Copy target session configured to receive CME Group-generated order data in the New Release environment. The temporary Drop Copy target session will expire on a weekly basis and must be renewed through your Global Account Manager. Please allow 48 hours for all configuration work to be completed and notify your Global Account Manager of the dates and times you wish to test to ensure proper support resources are available.

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For Drop Copy target sessions sequencing messages from Convenience Gateway source sessions the following will apply:

• New target sessionID
• New IP address (one Primary and one backup)
• New port

For Drop Copy target sessions sequencing messages from Market Segment Gateway source sessions the following will apply:

• New target sessionID
• New IP addresses (19 Primary and backup, total 38 IPs)
• New port

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Please contact your Global Account Manager when you are ready to certify for Drop Copy so a temporary AutoCert+ Drop Copy target session can be allocated to you for certification. Allow 48 hours for all configuration work to be completed. Once your certification is complete, the temporary AutoCert+ Drop Copy target session will be rescinded to facilitate certification by other Drop Copy clients.

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For Drop Copy access in production:

• CME Group listed derivatives clients must complete the Customer Connection Agreement, Schedule 1 and Schedule 12 Drop Copy Service forms. If clients are authorized for Self Service, Drop Copy groups are created in the Request Center.
• BrokerTec and EBS clients can create Drop Copy groups in the Request Center.

To request access to New Release, new clients should contact Global Account Management. Current clients should contact your Global Account Manager for details.

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Clients must first obtain the secure key pair through the Customer Center, then they should follow the logon procedure using the downloaded security credentials.

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CME Group listed derivatives clients connected to Globex may request Drop Copy functionality, however, the clearing firm responsible for the applicable iLink source session IDs must approve. Any application that wishes to use Drop Copy must certify for Drop Copy functionality. Firms with admin-control of their GFID (Globex Firm ID) do not need their clearing firm’s approval for creating/deleting/managing their Drop Copy group(s).

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Please refer to Technology Partner Services Directory for a list of third-party software vendors who have certified for Drop Copy.

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No, per question nine, the number of Drop Copy target sessions required depends upon the distribution of the iLink source sessions across the Globex environment and the type of Drop Copy session. The number is based upon the number of iLink Gateways used by those sessions.

Therefore, if a firm has more than one CGW session ID associated with a Drop Copy, there is a chance that additional CGW Target sessions may be created.

A client would use the Drop Copy service to receive real-time copies of Globex Execution Report and Acknowledgement messages as they are sent over iLink order entry system sessions on a separate, dedicated path. Straight Through Processing (STP) functionality would be used to monitor end to end trading activity across trading venues over the same feed and real-time trade flow between the front and middle office.

Drop Copy is optimized for real-time insight into client activity on the Globex central limit order book.

CME STP is designed for trade and post-trade confirmations across all venues.

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