GLOBEX Advisory Notices
To | CME Globex Customers
From | CME Globex Account Management
Subject | CME Globex Notices: May 7, 2007
Notice Date | 2007-05-07
Notice Number | 050707
Effective Date | 1969-12-31
Welcome to the CME Globex Notices for the week of May 7, 2007. CME Electronic Trading Customer Forums Proposed CBOT Merger Client Impact Assessment This Week NYMEX Catastrophic Risk Futures Price Format Change Reminder: CME S&P 500/Citigroup Growth Options Instrument Group Code Change Reminder: NYMEX Gulf Coast and New York Harbor Energy Products Launch Reminder: CME Eurodollar Options Changes May Reminder: CME Market Data Platform Lite Channel Elimination Reminder: CME Hurricane Seasonal Maximum Futures Launch Reminder: CME Hurricane Seasonal Futures Launch Reminder: CME E-mini FTSE/Xinhua China 25 Index Futures Launch CME Market Data Platform Channel Changes - Critical System Impact Discontinuing CME Globex Trader Licenses June Reminder: CME Commodities Extended Electronic Trading Hours July Legacy Certification Environment Decommission If you have any questions or concerns, please contact your CME Globex Account Manager at 312.634.8700; or at +44.20.7796.7100 in Europe. Learn the latest in electronic trading on CME Globex FCMs, IBs, proprietary trading groups, ISVs and market data distributors - Register today for the CME Electronic Trading Customer Forum. The CME Electronic Trading Customer Forums are designed to bring CME and its customers together. You will receive updates and information regarding CME Globex platform changes, electronic trading policies and new offerings in the next 6-12 months. These events are free and attendance is limited to CME customers. The forum will cover:
CBOT-CME proposed merger update Product updates NYMEX product updates and the CME Messaging Policy Enhanced Execution Reports User-Defined Spreads: Combos | New market data format: FIX/FAST New offering: Drop copy New offering: Cancel on disconnect New certification environments and AutoCert+ tool
Singapore Thursday, 7 June 2007 16:30 Registration 16:45 Presentation Reception to follow Fullerton Hotel The Straits Room, 4th Floor 1 Fullerton Square Singapore
CLICK HERE to register. Proposed CBOT Merger Client Impact Assessment CME previously announced that it intends to migrate e-cbot products to CME Globex in a phased approach beginning Q1 2008, subject to completion of the CME-CBOT merger, which is expected to occur mid-2007, pending approvals by regulators, shareholders of both companies and CBOT members, as well as completion of customary closing conditions. In an effort to provide information as early as possible regarding this electronic trading migration, the CME/CBOT Client Impact Assessment document is now available for your reference at www.cme.com/CBOTImpact. Key topics discussed in this document are as follows: Key Dates and Events CME Globex System Impacts Product-Specific Functionality Fractional and Cabinet Pricing Implied Spread Functionality Matching Algorithms Market Data Messages and Channels Testing and Certification Bandwidth Recommendations Messaging Policy Implications User Identification For more information about this client impact document, please contact CME Globex Account Management or via phone at 312.634.8700 or at +44.20.7623.2550 in Europe. NYMEX Catastrophic Risk Futures Price Format Change Effective this Sunday, May 13, 2007 (for trade date Monday, May 14), the price format for all NYMEX Catastrophic Risk futures will be modified for CME iLink and CME Market Data Platform messaging as outlined below. This new format will apply to all prices, including Trade, High and Low, Best Bid and Offer, and Daily Settlements, except Final Settlements.
NYMEX Catastrophic Risk Futures Price Formats
Product | Product Code | Sample Prices
New Trade Price | New Minimum Tick | Current Trade Price | Current Minimum Tick
Nationwide Index | WU | 4850 | 1 | 485000 | 100
Texas-Maine Index | WY | 4851 | 1 | 485100 | 100
Florida Index | WF | 4852 | 1 | 485200 | 100
Reminder: CME S&P 500/Citigroup Growth Options Instrument Group Code Change Effective this Sunday, May 13 (for trade date Monday, May 14), the Instrument Group Code for all CME S&P 500 ®/Citigroup Growth options on futures will change to SN. Currently, the Instrument Group Code for CME S&P 500/Citigroup Growth options is SO. Instrument Group Codes can be found at position 70 - 71 of the Instrument Creation (MO) market data message. More information on MO messages is available in the RLC Message Specifications module of the CME Market Data Platform SDK. Reminder: NYMEX Gulf Coast and New York Harbor Energy Products Launch Effective this Sunday, May 13 (for trade date Monday, May 14), three new NYMEX Gulf Coast and New York Harbor energy products will launch on the CME Globex platform. The first 24 months of each product will be launched with implied functionality. Calendar spreads will also be listed upon launch.
NYMEX Gulf Coast and New York Harbor Energy Futures
Product | Instrument Group Code | Product Code | Contract Size | Contract Tick Size | Tick Value | CME Globex Tick Size | Maximum Listed Months | MDP Channel
Gulf Coast Ultra Low Sulfur Diesel (ULSD) | CL | LU | 42,000 Gallons | 0.0001 | $0.0001 | 1 | 36 | 30
New York Harbor ULSD | CL | LH | 42,000 Gallons | 0.0001 | $0.0001 | 1 | 36 | 30
Gulf Coast Gasoline | CL | LR | 42,000 Gallons | 0.0001 | $0.0001 | 1 | 36 | 30
TAS Contracts
Gulf Coast ULSD TAS | CT | LUT | 42,000 Gallons | 0.0001 | $0.0001 | 1 | 3 | 30
New York Harbor ULSD TAS | CT | LHT | 42,000 Gallons | 0.0001 | $0.0001 | 1 | 3 | 30
Gulf Coast Gasoline TAS | CT | LRT | 42,000 Gallons | 0.0001 | $0.0001 | 1 | 3 | 30
NYMEX Gulf Coast and New York Harbor Energy Intercommodity Spreads
Product | Instrument Group Code | Product Code | Strategy Type Code | Contract Tick Size | CME Globex Tick Size | Implied Months | MDP Channel
Gulf Coast ULSD vs Heating Oil | CL | LU:HO | IS | 0.0001 | 1 | 24 | 30
New York Harbor ULSD vs Heating Oil | CL | LH:HO | IS | 0.0001 | 1 | 24 | 30
Gulf Coast Gasoline vs RBOB Gasoline | CL | LR:RB | IS | 0.0001 | 1 | 24 | 30
Gulf Coast Gasoline vs Gulf Coast ULSD | CL | LR:LU | IS | 0.0001 | 1 | 24 | 30
These new NYMEX products are currently available in the New Release Certification environment for customer testing. Reminder: CME Eurodollar Options Changes Effective this Sunday, May 13 (for trade date Monday, May 14), CME is implementing the following changes to CME Eurodollar options on futures. Tick Change CME is implementing the new Variable Tick Table (VTT) 12 for all CME Eurodollar options except the spot month. The spot month will continue to trade at a quarter tick. Please note: although all CME Eurodollar options except the spot month will use VTT 12, only the first two quarterlies and the serials are eligible to trade at quarter ticks. CME Rules prohibit quarter tick orders and trades for all mid-curve options and for all quarterly options except the first two. VTT 12 is defined as follows:
VTT 12 for cme eurodollar options on futures
Variable Tick Table Index Code (position 576-577) Instrument Creation (MO) Message | Current Price (P) | CME Globex Tick Size
12 | P < -5 | 0.50
12 | -5 <= P <= 5 | 0.25
12 | P > 5 | 0.50
Variable Tick Tables are defined in position 576-577, Variable Tick Table Index Code, in the Instrument Creation (MO) message. More information on VTT is available in CME Market Data Platform SDK: Core Functionality, section 4.5.3 "Calculating Tick Size Based on Instrument Creation (MO) Message". More information on MO messages is available in CME Market Data Platform SDK: RLC Message Specifications. VTT 12 has been implemented in the New Release Certification environment for customer testing. Strikes Listing Change At customers' requests, CME is changing the strikes listing rules for CME Eurodollar options. With this change, strikes will be listed at 12.5 basis points intervals, ATM ± 6 (150 points) for the following CME Eurodollar options. Outside the ATM ± 6 range, strikes will be listed at 25 points intervals. CME Eurodollar Options Four nearest-expiring quarterlies Serials 1-Year MidCurve Options Four weeklies Two serials Two quarterlies 2-Year MidCurve Options Two quarterlies 5-Year MidCurve Options One quarterly Reminder: CME Market Data Platform Lite Channel Elimination Effective Sunday, May 20, the CME Market Data Platform Lite Channel (channel 18) will be decommissioned. CME recommends all customers verify they are not relying solely on the Lite Channel for market data before May 20. Reminder: CME Hurricane Seasonal Maximum Futures Launch Effective Sunday, May 20, 2007 (for trade date Monday, May 21), the CME Hurricane Seasonal Maximum futures will launch on the CME Globex platform. Based on the Carvill Hurricane Indexes (CHI TM ), the CME Hurricane Seasonal Maximum futures represent the highest index value of the season for each region.
CME Hurricanes Seasonal Maximum Futures
Region | Instrument Group Code | Product Code
Florida | HF | HFM
Gulf Coast | HF | HGM
Northern Atlantic Coast | HF | HNM
Southern Atlantic Coast | HF | HSS
Eastern U.S. | HF | HXM
These CME Hurricane Seasonal Maximum futures will be available for customer testing in the New Release Certification environment Monday, May 14. Reminder: CME Hurricane Seasonal Futures Launch Effective Sunday, May 20 (for trade date Monday, May 21), the CME Hurricane Seasonal futures will launch on the CME Globex platform. Based on the Carvill Hurricane Indexes (CHI), the CME Hurricane Seasonal futures represent the total cumulative index values for all hurricanes that make landfall in each region during each hurricane season.
CME Hurricanes Seasonal Futures
Region | Instrument Group Code | Product Code
Florida | HF | HFA
Gulf Coast | HF | HGA
Northern Atlantic Coast | HF | HNA
Southern Atlantic Coast | HF | HSA
Eastern U.S. | HF | HXA
These CME Hurricane Seasonal futures will be available for customer testing in the New Release Certification environment Monday, May 14. Reminder: CME E-mini FTSE/Xinhua China 25 Index Futures Launch Effective Sunday, May 20 (for trade date Monday, May 21), the CME E-mini FTSE ®/Xinhua ® China 25 Index futures on the CME Globex platform. The CME E-mini FTSE/Xinhua China 25 Index futures are designed to meet the growing need for 24-hour access to the Chinese equity markets. The FTSE/Xinhua China 25 Index is comprised of 25 of the largest, most liquid red-chip and H-share Chinese companies listed on the Hong Kong Stock Exchange. CME E-mini FTSE/Xinhua China 25 Index futures are currently available for customer testing in the New Release Certification environment. CME Market Data Platform Channel Changes - Critical System Impact Effective 5:00 p.m. Central time, Wednesday, May 24, the ports and IP addresses for all CME Market Data Platform channels in the New Release Certification environment are changing. Data will no longer be available at the current ports and IP addresses. Customers receiving market data in the New Release Certification environment must access the new ports and IP address to receive market data. The new CME Market Data Platform channel information for the New Release Certification environment is available online. The current channel information is also available online. Discontinuing CME Globex Trader Licenses Effective May 31, 2007, no new CME Globex Trader licenses or IDs will be issued. CME anticipates CME Globex Trader will be decommissioned by the end of this year. The limitation of CME Globex Trader to futures markets, aging functionality and infrastructure, and the declining user base have led to the decision to decommission CME Globex Trader. Traders may replace CME Globex Trader with a third-party application, CME EOS Trader or CME Galax-C handhelds to access CME Globex markets. More information is available in the CME Globex Trader Update. Reminder: CME Commodities Extended Electronic Trading Hours Effective Monday, June 4, 2007, trading hours for CME Commodity futures and options on CME Globex will be extended to virtually 24 hours a day. The markets will open for trading at 9:05 a.m. Central time (CT) Mondays and close at 1:30 p.m. CT Fridays, with a daily 60 minute trading halt and trade date roll at 4:00 p.m. Legacy CME Certification Environment Decommission Effective July 1, 2007, CME is decommissioning the legacy CME certification environment. The new certification environments, launched earlier this year, provide greater flexibility and functionality for developing, testing and certifying customer applications. More information on the new certification environments is available at www.cme.com/cert. New IDs for the legacy CME certification environment are no longer available. Any customers currently connected to the legacy CME certification environment will need to migrate to the new environments before the July 1 cut-off. Please contact your CME Globex Account Manager for more information and to start your migration. ©2007 Chicago Mercantile Exchange Inc (CME). All rights reserved. The Globe Logo, Globex®, E-mini®, iLink® Globex Trader® Galax-C® and CME® are trademarks of CME