GLOBEX Advisory Notices
To | CME Globex Customers
From | CME Globex Account Management
Subject | CME Globex Notices: November 5, 2007
Notice Date | 2007-11-05
Notice Number | 110507
Effective Date | 1969-12-31
Welcome to the CME Globex Notices for the week of November 5, 2007. Critical System Updates Changes to Instrument Creation (MO) Replay Channels - November 18 ITC2.1 Market Data Platform Channel Changes - December 1 CBOT and Hosted Exchange Products and Functionality Launch - January 2008 FIX/FAST Channel Definitions - January 2008 New Functionality Instrument Creation (MO) Message Enhancements - November 18 Product Launches Treasury Matched Mid-Curve Options - November 18 Product Changes User-Defined Spreads for NYMEX RBOB, Heating Oil and Copper Options - November 18 Strike Listing Change for E-mini NASDAQ-100 Options - November 18 Additional Calendar Spreads for E-mini Equity Futures - November 18 Implied Functionality for Feeder Cattle Futures - November 18 Horizontal and Vertical Strategies for Wood Pulp Options - November 30 Events and Announcements CME Globex Veterans' Day Holiday Schedule - November 12 Certification and New Release Access via the London Hub! - November 19 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 Changes to Instrument Creation (MO) Replay Channels Effective Sunday, November 18, 2007, CME Group is introducing new Instrument Creation (MO) Replay channels on the Market Data Platform in production. With these new channels, every product RLC data channel (e.g., channel 7, Equity futures; channel 8, Equity options, etc.) will have a dedicated MO Replay channel so customers can listen only to the MO messages for which they receive market data. The current MO Replay channels (channel 1 and 16) will be decommissioned effective Sunday, March 30, 2008. Please note, these changes only affect the RLC-format channels. There are no changes to the ITC 2.1-format channels. The new MO Replay channels are currently available in New Release for customer testing. The new MO replay channels will be available in Certification on Wednesday, November 21. The channel definitions for New Release are now available at www.cme.com/certsdk. ITC2.1 Market Data Platform Channel Changes The legacy ITC2.1 Market Data Platform channels 4, 5 and 6 for CME Globex market data will be decommissioned on December 1, 2007. Until December 1, the legacy ITC2.1 Market Data Platform channels will operate in parallel with the new ITC2.1 channels. The new channel schema, launched on Sunday, October 14, provides more granular and scalable ITC2.1-format market data. More information on this change and the new channels is available online. CBOT and Hosted Exchange Products and Functionality Launch 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.
CBOT & Hosted Exchange Launch Schedule
Mock Trading Sessions | December 1
December 15
January 6, 2008
January 12, 2008
January 26, 2008
Commodities, Dow & Hosted Exchanges Product Launch | January 13, 2008
Interest Rate Product Launch | January 27, 2008
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 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. FIX/FAST Channel Definitions As previously announced, the FIX/FAST channel definition tables in PDF format will be available until January 2008. After January 2008, the Market Data Configuration Service will be the only source for channel definitions. The Market Data Configuration Service is designed to ease the recommended procedure of verifying templates and channel configuration each week at Sunday start-up. The Market Data Configuration Service is currently available and allows customers to receive an XML file from an FTP site with all the Market Data Platform channel information (multicast IP, product group and ISIN served) for FIX/FAST. More information on the Market Data Configuration Service is available in the Core Functionality module of the FIX/FAST SDK, Section 2.1.2.2. Please note: there is no change for the RLC and ITC2.1 format market data channel definition tables. New Functionality Instrument Creation (MO) Message Enhancements Effective Sunday, November 18, 2007, the following enhancements will be made to the Instrument Creation (MO) RLC-format market data message.
Title | Position | Description
RFC Eligible Flag | 788 | Change to existing field Indicates whether a product is eligible for RFC functionality "0" = does not support RFC "1" = supports RFC Currently used to indicate method for cross (RFC vs. RFQ for cross)
Fractional Pricing Flag | 798 | New field Indicates whether a product uses standard decimal or fractional price display "0" = Standard decimal price display "1" = Fractional price display Currently populated with a space " "
N/A | 799 | New field In preparation for upcoming functionality, this position will now have a "0" Currently populated with a space " "
RFQ Cross Eligible Flag | 800 | New field Indicates whether a product is eligible for RFQ for cross functionality "0" = does not support RFQ for cross "1" = supports RFQ for cross
Exchange Code | 900-903 | New field Indicate the home exchange for the product ISO standard exchange identifier: XCME = CME XOCH = OneChicago XNYM = NYMEX XCEC = COMEX XFMS = FXMarketSpace
Cabinet Price | 904-922 | New field Provides cabinet price for the product in standard price format for options, and a space (" ") followed by 18 zeros (0) if a cabinet price doesn't apply
More information on these changes to the MO message, RFC and RFQ for cross functionality, is available in the CBOT Client Impact Assessment. MO messages with these fields are currently available for customer testing in New Release. Product Launches Treasury Matched Mid-Curve Options Effective Sunday, November 18, 2007 (for trade date Monday, November 19), Treasury Matched Mid-Curve (TOMMi) options on Eurodollar futures will launch on the CME Globex platform. These options are part of the weekly mid-curve suite of Eurodollar options but have extended expirations to match the longer-dated Treasury options. Designed to meet the need for a mid-curve Eurodollar option that expires at the same time as the Treasury options, TOMMi options will eliminate the date mismatch between Treasury and mid-curve options. The matched expirations will also facilitate more precise volatility spreading with Eurodollar and Treasury options. The CME Globex product code for these options is TE0 (t-e-zero). Please note: CME Group will not list any weekly options that would expire on the same day as a TOMMi option. The TOMMi options will launch on CME EOS Trader with a default clip size of "99999". These options are currently available in New Release for customer testing. Product Changes User-Defined Spreads for NYMEX RBOB, Heating Oil and Copper Options Effective Sunday, November 18, 2007 (for trade date Monday, November 19), User-Defined Spreads (UDS) functionality is launching for NYMEX RBOB, Heating Oil and Copper options on the CME Globex platform. With this launch, full 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. UDS functionality is currently available in Certification for NYMEX Crude Oil, Natural Gas, Gold and Silver options for customer testing. Strike Listing Change for E-mini NASDAQ-100 Options Effective Sunday, November 18, 2007 (for trade date Monday, November 19), the strikes listing rules for E-mini NASDAQ-100® options will change as described below.
E-mini NASDAQ-100 Strikes Listing Rules
Strike Interval | Current Listings | New Listings
10 basis points | ATM ± 7.5% | ATM ± 7.5%
25 basis points | None | ATM ± 15%
The new strikes are currently available for customer testing in the New Release environment. Additional Calendar Spreads for E-mini Equity Futures Effective Sunday, November 18, 2007 (for trade date Monday, November 19), futures calendar spreads will be expanded to include the five quarterly outrights on the following E-mini Equity futures: E-mini S&P 500® E-mini NASDAQ-100 E-mini S&P MidCap 400® E-mini S&P SmallCap 600® The available futures calendar spread listings will be expanded to include all four quarters for the E-mini Russell 2000®. These products currently list only one futures calendar spread each. The extended calendar spreads are currently available for customer testing in Certification and New Release. Implied Functionality for Feeder Cattle Futures Effective Sunday, November 18, 2007 (for trade date Monday, November 19), implied functionality for Feeder Cattle futures (CME Globex product code GF) will launch on the CME Globex platform. As a reminder, position 777 of the Instrument Creation (MO (oh)) message indicates whether a product will return legs and create implied orders. For more information, please see the Message Specifications module of the Market Data Platform SDK. Implied functionality on Feeder Cattle futures is currently available for customer testing in Certification. Horizontal and Vertical Strategies for Wood Pulp Options Effective Sunday, December 2, 2007 (for trade date Monday, December 3), CME Group is launching Horizontal (Strategy Type Code: HO) and Vertical (Strategy Type Code: VT) strategies for Wood Pulp options on futures on the CME Globex electronic trading platform. These strategies will be available for customer testing in New Release Monday, November 19, 2007. Events and Announcements CME Globex Veterans' Day Holiday Schedule The CME Globex Veterans' Day holiday schedule is now available online. Certification and New Release Access via the London Hub! Direct access to the Certification and New Release environment is now available via the CME Globex London Hub. Beginning Monday, November 19, CME Group customers will be able to access the Certification and New Release environments via the London Hub. This access option allows customers to fully leverage the capabilities of the environments, including production-level market data messaging for performance testing, on circuits up to 100mbps. Access to the Certification and New Release environments requires a new circuit to the London Hub which can be ordered now from any of the CME Group-approved telecommunication providers. The annual fee for this service is $6000.00. For more details, please contact Mark Vogel or Matthew Judge or call +44.207.796.7100. © 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.