GLOBEX Advisory Notices
To | CME(R) Globex(R) Customers
From | CME Globex Account Management
Subject | CME(R) Globex(R) Options Enhancements
Notice Date | 2005-06-15
Notice Number | 061505-2
Effective Date |
Dear CME® Globex® Customers, CME is implementing several enhancements to the CME Globex electronic trading platform to facilitate broader access, liquidity and market-making activity in options on futures for CME Equity, CME Foreign Exchange (FX) and CME Interest Rate products. Effective June 20, 2005, all of the following enhancements will be available for testing in CME AutoCert and the CME certification environment.
Release 1 - Mid-August 2005 CME Eurodollar Options on the CME Globex platform, via CME iLink® and CME Market Data API (CME MD API) CME Eurodollar New Mass Quote Functionality With this release, customers will be able to access the hybrid market for electronic CME Eurodollar options via CME iLink 2.0, which today is only available via the CME Enhanced Options System. A new Indicative Prices message type (MX) will disseminate indicative quotes via CME MD API 2.X and CME Market Data Network (CME MDN). This release will also include enhancements to the existing Request for Quote functionality. Release 1 will introduce Mass Quotes for CME Eurodollar options on the CME Globex platform. This functionality will allow CME Eurodollar Options Market Makers to submit actionable quotes on selected outrights and spreads, and to update markets for multiple option strikes via a single message containing two-sided quotes.
Release 2 - Mid-October 2005 CME Equity and CME FX Mass Quote Functionality Mass Quoting functionality will allow CME-designated Market Makers in the CME Equity and CME FX products to submit multiple two-sided quotes to the CME Globex platform through a single message.
In early September, CME will launch enhanced Market Maker Protections for Mass Quotes in the CME certification environment. Market Maker Protections will then be launched into production with Release 2 in mid-October, to reduce the number of customer-impacting CME releases. Documentation for the enhanced Market Maker Protections will be available in July. Further information and specification documents are available at www.cme.com/optionsenhancements 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. Thank you, CME 800.331.3332