Clearing House Advisory Notices
To | Clearing Firms and Service Bureaus
From | Clearing House Department
Subject | Revised Pit-Trade Migration to FEC to be launched in March 2006
Notice Date | 2006-02-28
Notice Number | 06-46
Effective Date | 2006-02-28
The CME previously announced that with the introduction of Pit migration, it would no longer accept blank records in the trade type field. After consulting with clearing firms and software providers the exchange decided to allow firms to submit Pit trades with Blank Trade Type. If a firm submits a blank Trade Type to clearing, the trade will default to Trade Type 1. With this revision, below is the original text of the notice, published on January 10, 2006, where the 3rd bullet point is revised to reflect this change. In March, CME Clearing will migrate processing pit trades from the old mainframe-based TES system, to Front-End Clearing. This applies to all non-SLED pit trades for standard monthly futures and options for both CBOT and CME products. The old 3270-based TES screens will be retired, and firms will use the browser-based FEC user interface for all trade processing functions, including entry of packs and bundles, fungibility transactions, and we show/they show analysis. For the full text of this advisory. . .