Client Management Advisory Notices
To | Clearing Firms, Service Bureaus, ISV's, Other Order Routing System Providers
From | CME Market Regulation
Subject | Regulatory Advisory RA-03-03: Reminder Regarding Mandatory Submission of Workstation Operator/User Codes in Fix 2.3 and All Versions of CME ILink (SM)
Notice Date | 2003-08-18
Notice Number | CMO#0399
Effective Date |
Since October 31, 2000, CME has required that all GLOBEX®order messages contain identifying information for the workstation operator. Accurate data in this field is necessary for fee and regulatory purposes, and the requirement applies for all GLOBEX® interfaces. The workstation operator identifier (also known as user code) must uniquely identify the person who entered the instruction into the system. The firm that grants access to its system must assign each individual a unique identifier that is not shared with anyone else. This requirement applies to individual members, employees of the clearing firm, and to customers of the clearing firm. Please note that this unique identifier for employees and members must be the same as those reported by the firm in the Exchange Fee System (“EFS”). Firms must be able to provide Market Regulation with the identity of the person assigned a particular user code upon request, and must maintain historical records for at least five years to identify each user code. In general, a person should not have multiple user codes within a system. If an order is entered via an automated trading system ('ATS') that does not require an individual to initiate or manually confirm the creation of a specific instruction , we recommend that the field contain the charactoers 'ATS' followed by a numeric sequencer (i.e. ATS001, ATS002). Each unique ATS program should have a different sequencer. Within its records, the firm should also associate this ATS workstation code with the person who is responsible for administering the trading by the ATS system. The 32 byte maximum length user code should be transmitted in the following FIX Tags, depending on the FIX API version: FIX 2.3 - FIX Tag 116, “entryUser” ID, or iLink 1.0 or 2.0 - FIX Tag 50, “SenderSubID” Failure to pass accurate information in this field may result in the application of incorrect fees and could be a violation of Exchange Rule 576 (“Identification of GLOBEX Terminal Operators”). If you have any Regulatory questions please contact Mark Hecker at (312) 648-3708 and Exchange Fee questions should be directed to Julie Langland at (312) 648-5470.