GLOBEX Advisory Notices
To | CME Globex Customers
From | CME Globex Account Management
Subject | CME Globex Notices: April 28, 2006
Notice Date | 2006-04-28
Notice Number | 042806-8
Effective Date | 2006-04-28
April 28, 2006 Welcome to the CME Globex Notices summary for the week of April 28, 2006. Changes This Week Reminder: CME Electronic Trading Customer Forum Upcoming Changes Reminder: CME Israeli Shekel Futures and Options Launch New CME Options Auto-Reserve Functionality CME Spread Type Changes Reminder: Leg Execution Reports for CME Libor-Eurodollar Inter-Commodity Spreads CME Equity and CME FX Spreads: Leg Execution Reports Mass Quote Message Change CME Market Data Change Reminder: End-of-Month Options on the CME Globex Platform Reminder: CME Market Data API Elimination Covered CME Eurodollar Options: User-Defined Spreads Phase I Reminder: Ex-Pit Transaction Functionality Reminder: CME Housing Futures If you have any questions or concerns, please contact your CME Globex Account Manager at 312.634.8700; or at +44.207.623.2550 in Europe. Reminder: CME Electronic Trading Customer Forums CME would like to invite you to the upcoming CME Electronic Trading Customer Forums. Registration and more information on the upcoming CME Electronic Trading Customer Forums is available online. Agenda highlights include: Upcoming CME Globex Enhancements CME Market Data API Elimination and CME Market Data Platform Migration NYMEX Energy Products on the CME Globex Platform Each meeting will be followed by a reception, where CME Eurodollar options functionality will be demonstrated by a select group of ISVs. Reminder: CME Israeli Shekel Futures and Options Launch Effective Sunday, May 7, 2006 (for trade date Monday, May 8), CME is scheduled to launch CME Israeli Shekel futures and options on futures on the CME Globex platform. The CME Israeli Shekel are currently available for testing in the CME certification environment. More information on the CME Israeli Shekel is available online. New CME Options Auto-Reserve Functionality Effective Sunday, May 7, 2006 (for trade date Monday, May 8), CME is scheduled to launch the new CME Options Auto-Reserve functionality. Whenever an outright Lead Month Futures instrument in Continuous Trading state is put in Reserved state, the CME Options Auto-Reserve functionality automatically places the corresponding options and option spreads into a temporary Interrupted state. Customers can submit, modify and cancel orders during the Reserved and Interrupted states. Please note: when the CME Options Auto-Reserve places an instrument group in Interrupted State, all resting quotes will be cancelled and all new Mass Quote messages will be rejected until the group is returned to Continuous Trading state. More information on the CME Options Auto-Reserve functionality is available online. CME Spread Type Changes Effective Sunday, May 21, 2006 (for trade date Monday, May 22), to simplify and streamline customer processing of CME-listed spreads, CME is implementing new Spread Type values for the Instrument Creation (MO) message, position 727-728. These new values can be used to easily determine the spread type and associated listing conventions. More information on this Spread Type change is available online. Reminder: Leg Execution Reports for CME Libor-Eurodollar Inter-Commodity Spreads Effective Sunday, May 7, 2006 (for trade date Monday, May 8), to further enhance the transparency of the electronic market, leg execution reports will be disseminated for the CME Libor-Eurodollar inter-commodity spread (LEDS). More information on LEDS leg execution reports is available online. CME Equity and CME FX Spreads: Leg Execution Reports Effective June 25, 2006 (for trade date Monday, June 26), to enhance the transparency of the markets, CME is scheduled to launch leg execution reports for CME Equity and CME FX spreads. CME Equity and CME FX spreads leg execution reports will be available for testing in the CME certification environment Monday, May 15. A short suite of optional tests for this functionality is currently available in the CME AutoCert tool. More information and documentation is available online. Mass Quote Message Change Effective Sunday, July 9, 2006 (for trade date Monday, July 10), to simplify and improve processing, CME is reducing the maximum number of quotes a market maker can submit in a single Mass Quote message to 100. Currently, market makers can submit a maximum of 195 quotes in a single Mass Quote message. This change to the Mass Quote message will be available for testing in the CME certification environment Sunday, May 21, 2006. More information on this change is available online. CME Market Data Change Effective Sunday, May 21, 2006 (for trade date Monday, May 22), to reduce bandwidth utilization, CME is eliminating all Delete N Lines (MC) and Market Sheet (MF) market data messages. More information on this market data change is available online. Reminder: End-of-Month Options on the CME Globex Platform On Sunday, May 21, 2006 (for trade date Monday, May 22), for the first time, CME is scheduled to launch end-of-month options on CME E-mini S&P 500® and CME S&P 500 futures on the CME Globex electronic trading platform. More information on this product launch is available online. Reminder: CME Market Data API Elimination As previously announced, CME is eliminating CME Market Data API (MD API), the legacy market data vehicle, on July 1, 2006. All CME MD API customers must complete the migration to the CME Market Data Platform before July 1. More information on the CME MD API cut-off and the CME Market Data Platform is available online. Covered CME Eurodollar Options: User-Defined Spreads Phase I On Sunday, July 9, 2006 (for trade date Monday, July 10), CME is scheduled to launch Covered CME Eurodollar options on futures (Covereds). Covereds are the first phase of the CME User-Defined Spreads (UDS) initiative, and the model for future UDS functionality. With this launch, CME is introducing three new order entry messages and one new Security Definition (MU) market data message, for creating Covereds. This release will impact: All customers interested in trading Covereds; and, All customers receiving CME Eurodollar options market data on channel 10 of the CME Market Data Platform. More information on Covereds is available online and in the User-Defined Spreads for CME Eurodollar Options: Covereds Client Impact Assessment. Reminder: Ex-Pit Transaction Functionality On Sunday, July 9, 2006 (for trade date Monday, July 10), to facilitate market transparency, CME is scheduled to launch Ex-Pit transaction functionality on the CME Globex platform. All customers interested in Ex-Pit transactions are required to complete a quick certification on the CME AutoCert tool. Ex-Pit transaction functionality is currently available in the CME certification environment. More information on Ex-Pit transactions functionality is available online. Reminder: CME Housing Futures CME Housing futures are currently available in the CME Globex certification environment for customer testing. More information on CME Housing futures is available online. ©2006 Chicago Mercantile Exchange Inc (CME). All rights reserved. The Globe Logo, Globex® and CME® are trademarks of CME