At the CME, Customers Mean Everything and we are committed to delivering an outstanding customer service experience in each and every interaction that we have with our end user community. Continuing to uphold this promise, we are pleased to announce a new feature within CME’s Exchange Fee System that will assist fee administrators with their reconciliation process.

Effective January 3, 2007, the Fee System will have an API (Feed of Accounts) that will allow firms to send a feed to the Exchange to process their account information. This new feature will be an alternative to utilizing the current online application.  This feature is strictly optional, but these enhancements will be available to firms for immediate use.

The general concept of the account transmission is to automate the transfer of member-owned and incentive program participant accounts from Clearing Firms’ bookkeeping systems to the CME. Firms will be required to provide the primary owner of the account along with any other additional member owners and/or controllers.

The expected benefits of this feature are to reduce issues associated with lack of proper account registration and the subsequent resubmission of trades through the online application.  This feature will also reduce online account maintenance, as it will allow for multiple additions, changes and/or deletions, all at once. Firm administrators would no longer have to make separate modifications.