GLOBEX Advisory Notices
To | CME Globex Customers
From | CME Globex Account Management
Subject | CME Globex Notices: October 1, 2007
Notice Date | 2007-10-01
Notice Number | 100107
Effective Date | 1969-12-31
Welcome to the CME Globex Notices for the week of October 1, 2007. Critical System Updates ITC 2.1 Changes on the Market Data Platform - October 14 Introducing Alphanumeric Host Order Numbers (HON) - October 28 Updated Client Impact! CBOT and Hosted Exchange Products and Functionality Launch - January 2008 New Functionality FIX/FAST Launch - Q4 2007 Product Launches COMEX Copper Options Launch on CME Globex - October 14 Commodity Excess Return Futures - October 14 E-mini MSCI Emerging Markets Futures Launch - October 21 Product Changes Futures Strips on NYMEX Uranium Launch - October 14 NYMEX Options Strategies on CME Globex - October 14 Events and Announcements Messaging Policy Q4 2007 Benchmarks - Effective Now! New Release Environment Maintenance - This Friday! Performance Testing Windows in Certification and New Release - October 22 If you have any questions or concerns, please contact your CME Globex Account Manager at 312.634.8700; +44.20.7796.7100 in Europe; or at +852.3101.7696 in Asia. Critical System Updates ITC 2.1 Changes on the Market Data Platform Effective Sunday, October 14, 2007, CME Group will implement changes to the current ITC 2.1 channel schema for CME Globex data on the Market Data Platform. The following channels will be added to the Market Data Platform to provide more granular and scalable ITC 2.1 format market data: Channel 200 - CME Globex Equity Futures Channel 201 - CME Globex Equity Options Channel 202 - CME Globex Interest Rate Futures Channel 203 - CME Globex Interest Rate Options Channel 204 - CME Globex FX Futures Channel 205 - CME Globex FX Options Channel 206 - CME Globex Commodity, Industrials and TRKRS Futures Channel 207 - CME Globex Commodity, Industrials and TRKRS Options These changes only impact the ITC 2.1 channels; there is no change to RLC-format channels. The current channels 4, 5 and 6 for CME Globex ITC 2.1 market data will be maintained in parallel with the new channels in production until December 1, 2007. Channel 4 - CME Globex Futures Channel 5 - CME Globex Options Channel 6 - CME Globex Spreads Please note: these ITC 2.1 channels, 4-6 and 200-207, disseminate Top of Book market data only. These new channels are currently available for customer testing in the New Release environment, and in Certification on October 16. The channel definitions for New Release are now available at www.cme.com/certsdk. Introducing Alphanumeric Host Order Numbers (HON) Effective September 15 in the New Release environment, CME Group introduced alphanumeric Host Order Numbers (HON) in FIX tag 37, OrderID, in all applicable iLink messaging. CME Group will force the following December 2007 futures to an alphanumeric HON in New Release: NYMEX Crude Oil - CLZ7 E-mini S&P 500 ® - ESZ7 Eurodollar - GEZ7 Euro FX - 6EZ7 Tag 37 is defined with a String format in the iLink Message Specifications module of the iLink Software Development Kit (SDK), so there is no field type change. Tag 37 is used to uniquely identify orders per contract, per trading session. Currently numeric only, tag 37 will use alphanumeric values to support the growth in trading and messaging volume. Alphanumeric values for tag 37 will be launched in production October 28. Updated Client Impact! CBOT and Hosted Exchange Products and Functionality Launch An updated Client Impact Assesment for the CBOT products and functionality launch on the CME Globex platform is now available to aid customer development efforts. This updated document includes new information on: FIX/FAST for CBOT and Hosted Exchanges Fractional Pricing Daily Limits, Implied Spreads and Daily Price Limits Leg Pricing Effective January 2008, the CBOT and Hosted Exchange functionality and products are scheduled to launch on the CME Globex electronic trading platform. Commodities, Dow and Hosted Exchange futures and options are scheduled to launch January 13, 2008. Interest Rate futures and options are scheduled to launch January 27. Jade and Metal products are not included in this launch. All CBOT-related functionality and CBOT and Hosted Exchange products, including futures, options, spreads and strategies, are currently available for testing in New Release. Customers can now certify for Cabinet pricing in New Release, via the AutoCert+ automated certification tool. The new functionality to support this launch includes Fractional and Cabinet pricing; matching algorithms; new spreads; and enhancements to the Instrument Creation (MO) and Security Definition (MU) market data messages. Complete information on the customer system impacts for this launch is available in the CBOT Client Impact Assessment. New Functionality FIX/FAST Launch Customers are now able to certify their applications for FIX/FAST in New Release via AutoCert+. More information on certification is available in the AutoCert+ User Guide. FIX/FAST is currently available for customer testing in the New Release environment. Please note: customer certification for FIX/FAST is mandatory. In early Q4 2007, CME Group is scheduled to launch the new FIX/FAST market data format on the CME Globex platform. FIX/FAST is the basis of a new industry standard for market data and improves bandwidth scalability. The new format is based on FIX SM and FAST SM protocols for increased efficiency. FIX provides the core message structure and syntax while the FAST protocol increases optimization. Customers must complete their migration to FIX/FAST from the legacy RLC format market data by October 17, 2008. After October 17, surcharges will be assessed for each site still receiving RLC format market data. $2,000 per week in October $4,000 per week in November $6,000 per week in December The legacy RLC format market data will be eliminated no later than the end of December 2008. The FIX/FAST Software Development Kit, including Market Data Platform channel definitions and reference code, is available online at www.cme.com/fixfast. Product Launches COMEX Copper Options Launch on CME Globex Effective Sunday, October 14, 2007 (for trade date Monday, October 15), options on COMEX Copper futures will launch on the CME Globex electronic trading platform. Complete CME Globex product specifications will be available in the NYMEX & COMEX Options on CME Globex Snapshot. More information on Copper options is available from NYMEX Product Marketing at 212.299.2301. CME Group will host a mock trading session for NYMEX options strategies and COMEX Copper options on CME Globex Saturday, October 6. This Mock Trading Session test plan and script are currently available online.
COMEX Copper Options
Product | Instrument Group Code | Product Code | MDP RLC Channel
Copper Options | 1U | HXE | 37
COMEX Copper options on the CME Globex platform are currently available for customer testing in the Certification environment. Commodity Excess Return Futures Effective Sunday, October 14, 2007 (for trade date Monday, October 15), the following Commodity Excess Return futures (CERFs) will launch on the CME Globex platform. The CERFs are based on sub-indices drawn from the S&P® GSCI® Excess Return Index and are similar to the currently listed CERF-style futures based on the S&P GSCI ER Index.
Commodity Excess Return Futures
Product | Instrument Group Code | Product Code | Listed Contracts
S&P GS Energy ER | GA | GER | 1
S&P GS Non-Energy ER | GNE
S&P GS Natural Gas ER | GNG
S&P GS Industrial Metals ER | GIM
These CERFs are currently available in the Certification environment for customer testing. E-mini MSCI Emerging Markets Futures Launch Effective Sunday, October 21 (for trade date Monday, October 22), E-mini MSCI Emerging Markets futures will launch on the CME Globex platform. Based on the MSCI Emerging Markets Index, these new futures allow customers to quickly and efficiently manage exposure to the active global emerging markets segment. The E-mini MSCI Emerging Markets futures are a powerful tool for capturing the opportunities presented by developing economies, based on the leading emerging markets benchmark index.
Product | Instrument Group Code | Product Code | Listed Contracts
E-mini MSCI Emerging Markets Futures | EF | EMI | 2 quarterlies
Product | Instrument Group Code | Product Code | Strategy Type Code | Listed Contracts
E-mini MSCI Emerging Markets calendar spreads | EF | EMIMY-EMI MY† | EQ | 1 spread
† MY = Month and year in normal CME Group terminology, e.g. Z7 The E-mini MSCI Emerging Markets futures will be available in the New Release environment for customer testing Tuesday, October 9. Product Changes Futures Strips on NYMEX Uranium Launch Effective Sunday, October 14 (for trade date Monday, October 15), strips on the NYMEX Uranium futures will be launched on the CME Globex platform. These new strips will use the Strategy Type Code FS. Complete CME Globex product specifications are available in the NYMEX on CME Globex Snapshot. The Strategy Type Code can be found at position 727-728 in the Instrument Creation (MO (m-oh)) RLC market data message. More information on the Strategy Type Code and MO messages is available in the RLC Message Specifications module of the Market Data Platform SDK. These new Uranium strips are currently available in the Certification environment for customer testing. NYMEX Options Strategies on CME Globex Effective Sunday, October 14 (for trade date Monday, October 15), the following strategies on NYMEX options will be launched on the CME Globex platform. Complete CME Globex product specifications are available at NYMEX on CME Globex Web site. With this launch, full User-Defined Spreads (UDS) functionality, including Combos and Covereds, will be supported for these NYMEX options. More information on UDS functionality is available in the Options modules of the iLink SDK and Market Data Platform SDK. CME Group will host a mock trading session for NYMEX options strategies and COMEX Copper options on CME Globex Saturday, October 6. This Mock Trading Session test plan and script are currently available online.
NYMEX Options Strategies
Product | Instrument Group Code | Product Code | Strategy Type Code | MDP RLC Channel
Crude Oil Options Straddles | 1N | LO | ST | 35
Crude Oil Options Strangles | SG
Crude Oil Options Verticals | VT
Crude Oil Options Butterflies | BO
Gold Options Straddles | 1Y | OG | ST | 37
Gold Options Strangles | SG
Gold Options Verticals | VT
Gold Options Butterflies | BO
Natural Gas Options Straddles | 1T | ON | ST | 36
Natural Gas Options Strangles | SG
Natural Gas Options Verticals | VT
Natural Gas Options Butterflies | BO
Silver Options Straddles | S1 | SO | ST | 37
Silver Options Strangles | SG
Silver Options Verticals | VT
Silver Options Butterflies | BO
The Strategy Type Code can be found at position 727-728 in the Instrument Creation (MO (m-oh)) RLC market data message. More information on the Strategy Type Code and MO messages is available in the RLC Message Specifications module of the Market Data Platform SDK. These new strategies are currently available in the Certification environment for customer testing. Events and Announcements Messaging Policy Q4 2007 Benchmarks The Q4 2007 Messaging Policy benchmarks are currently available online. Changes to the benchmarks for Q4 include: Addition of the New Zealand Dollar futures (Group Code: 6N) at a Volume Ratio of 100:1 E-mini S&P ® MidCap 400 ® (Group Code: ME) benchmark raised to 40 from 35 U.S. Dollar-denominated Nikkei 225 TM (Group Code: NK) reduced to 35 from 45 Yen-denominated Nikkei 225 (Group Code: N1) reduced to 35 from 45 The benchmarks are published quarterly and are based on the per-product Volume Ratios, including the prior quarter's roll trading. New Release Environment Maintenance To prepare for the upcoming CBOT product and functionality launches, options on futures in the New Release environment will be unavailable beginning at 12:00 p.m. Central time (CT) this Friday, October 5. Futures in New Release, and the entire Certification environment, will be available per the normal schedule. Please contact your CME Globex Account Manager with any questions or concerns at 312.648.3736; or in Europe at +44.20.7796.7100; or in Asia at +852.3101.7696. Performance Testing Windows in Certification and New Release Effective Monday, October 22, weekly performance testing windows will be supported in Certification and New Release environments. During the performance testing windows, peak volume, real time, production level market data will be broadcast on all products listed on the CME Globex platform. Customers may send iLink messages and interact with production-like messaging rates. Certification Performance Testing Window: Thursdays, 7:00 - 9:00a.m. Central time (CT) New Release Performance Testing Window: Fridays, 7:00 - 9:00a.m. Central time (CT) Due to bandwidth limitations, VPN customers should not connect during the performance testing windows. Customers interested in performance testing in Certification or New Release are strongly advised to adopt one of the new, higher-bandwidth connectivity options, including CME CERTLink and Client CERTLink. More information on the testing environments and the performance testing windows is available in Certification Environments Overview. © Copyright 2007 CME Group All rights reserved. The Globe Logo, Globex®, E-mini®, iLink®, Globex Trader®, Galax-C®, TRKRS®, EOS Trader TM and CME® are trademarks of CME Group.