GLOBEX Advisory Notices
To | CME Globex Customers
From | CME Globex Account Management
Subject | CME Globex Notices: January 29, 2007
Notice Date | 2007-01-29
Notice Number | 012907
Effective Date | 1969-12-31
Welcome to the CME Globex Notices for the week of January 29, 2007. February Update: NYMEX on CME Globex Reminder: Cabinet Pricing Change for CME FX and Commodity Options Reminder: CME Euroyen TIBOR Futures and Options Launch Reminder: CME FX Option Spreads Launch March Reminder: Enhanced Execution Reports and UDS: Combos Daylight Savings Time Reminder 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. Update: NYMEX on CME Globex Since the introduction of NYMEX futures and spreads on the CME Globex platform, market data messaging rates on the CME Market Data Platform NYMEX channel (20) have steadily increased, recently reaching peaks greater than 3 mbps. To better manage bandwidth utilization, CME is leveraging the scalability of the CME Market Data Platform and introducing three new channels for NYMEX and COMEX ® products. There is no change to the current NYMEX channel (20). Complete details on the three new NYMEX and COMEX channels on the CME Market Data Platform, including the products assigned to each channel, is available online. To facilitate this change, the Instrument Group Codes for the following NYMEX TAS products will change:
NYMEX Group Code Changes
Product | Product Code | Current Instrument Group Code | New Instrument Group Code
Natural GAS Last Day TAS | HHT | WT | NA
Natural Gas Penultimate TAS | HPT | WT | NA
Natural Gas TAS | NGT | CT | NA
These Instrument Group Code changes will be implemented in both the CME certification and production environments this Sunday, February 4, 2007 (for trade date Monday, February 5). The new CME Market Data Platform channels will be available in the certification environment this Wednesday, February 7, and in the production environment Sunday, February 25. More information on NYMEX and COMEX products on the CME Globex platform is available at www.nymexoncmeglobex.com. Reminder: Cabinet Pricing Change for CME FX and Commodity Options Effective this Sunday, February 4, 2007, at customers' requests, CME will provide actual Cabinet prices for CME FX and Commodity outright options in all CME iLink order entry and RLC market data messages. With this change, orders submitted with a price below the Low Limit price, including a 0 (zero) price, will be rejected. Currently, in these products, outright option orders at a 0 price are treated as Cabinet orders. The actual Cabinet prices will be broadcast in the Instrument Creation (MO) market data messages at position 625-643, Low Limit. The Cabinet values are currently available at www.cme.com/contractspecs. The Cabinet pricing changes are available for customer testing in the certification environment. Please note: there is no change to ITC 2.1 market data messages at this time, which will continue to reflect Cabinet trade prices as 0. Reminder: CME Euroyen TIBOR Futures and Options Launch Effective this Sunday, February 4, 2007 (for trade date Monday, February 5), CME Euroyen TIBOR futures and options will launch on the CME Globex platform. Electronically traded CME Euroyen TIBOR futures and options are identical to and fully fungible with the currently available floor contracts. Please note: these products have different Product and Instrument Group Codes, as detailed in the table below. The Euroyen market has become more volatile in recent months and this is a particularly auspicious time to offer hedgers and traders even wider access to CME Euroyen contracts via CME Globex. These new products are now available for customer testing in the certification environment.
CME EuroYen TIBOR Futures and Options on CME Globex
Product | Product Code | Instrument Group Code | Strategy Type Code
Futures and Future Spreads
CME EuroYen TIBOR Futures | EJ | EJ |
Packs | EJ | EJ | PK
Pack Spreads | EJ | EJ | PS
Bundles | EJ | EJ | FB
Calendars | EJ | EJ | SP
Butterflies | EJ | EJ | BF
Options and Option Spreads
CME EuroYen TIBOR Options † | EJ | EY |
1-Year Mid-Curve Options | EJ0 (zero) | J0 (zero) |
Straddles | EJ, EJ0 | J$ | ST
Strangles | EJ, EJ0 | J$ | SG
Horizontals | EJ, EJ0 | J$ | HO
Ratio 1x2 | EJ, EJ0 | J$ | 12
†Excludes 1-Year Mid-Curve Options Reminder: CME FX Options Spreads Launch Effective this Sunday, February 4, 2007 (for trade date Monday, February 5), Straddle, Strangle and Vertical spreads for the following CME Foreign Exchange (FX) options will be launched on the CME Globex platform. CME Euro FX options (product code 6E) CME Japanese Yen options (product code 6J) CME British Pound options (product code 6B) CME Swiss Franc options (product code 6S) CME Canadian Dollar options (product code 6C) CME Australian Dollar options (product code 6A) CME New Zealand Dollar options (product code 6N) CME Mexican Peso options (product code 6M) CME Russian Ruble options (product code 6R) These new options spreads are currently available for customer testing in the certification environment. Reminder: Enhanced Execution Reports and UDS: Combos The Enhanced Execution Reports and User-Defined Spreads (UDS): Combos release, scheduled to launch Sunday, March 25, 2007, introduces two sets of functional enhancements to the CME Globex platform. Enhanced Execution Reports With this release, Fill and Trade Cancellation messages will be enhanced for all products traded on the CME Globex platform with new FIX tags 442-MultiLegReportingType, 393-TotalNumSecurities and 527-SecondaryExecID. Customers will be able to use the enhanced Fill and Trade Cancellation messages to: Differentiate messages for outrights, legs and spreads Correlate leg and spread messages Identify the number of legs associated with a spread CME strongly recommends all customers test the enhanced execution reports prior to the production launch. Enhanced execution reports are currently available in the certification environment. UDS: Combos With UDS: Combos functionality, customers will be able to define and trade unique options instruments intra-day, composed of any or all of the following: Exchange-defined outright option(s) Exchange-defined option spread(s) Existing user-defined spreads Front-end trading applications interested in UDS: Combos functionality are required to certify via CME AutoCert+. This functionality will be available for testing and certification effective February 20, 2007. To access CME AutoCert+, please contact your CME Globex Account Manager at 312.634.8700. More information on this release is available in the UDS: Combos and Enhanced Execution Reports Client Impact Assessment . Daylight Savings Time Reminder Effective this year, the schedule for Daylight Savings Time has been extended by the Energy Policy Act of 2005. Daylight Savings Time will now be in effect from Sunday, March 11, 2007, through November 4, 2007. Previously, Daylight Savings Time ran from the first Sunday in April through the last Sunday in October. CME Globex will continue to observe Daylight Savings Time and the new schedule. Time-dependent front-end trading applications may be affected by this change. Please contact your front-end system provider for more information before March 11, 2007. ©2006 Chicago Mercantile Exchange Inc (CME). All rights reserved. The Globe Logo, Globex®, E-mini®, iLink® Globex Trader® and CME® are trademarks of CME