GLOBEX Advisory Notices
To | CME Globex Customers
From | CME Globex Account Management
Subject | CME Globex Notices: February 19, 2007
Notice Date | 2007-02-19
Notice Number | 021907
Effective Date | 1969-12-31
Welcome to the CME Globex Notices for the week of February 19, 2007. February Reminder: Extended NYMEX TAS Listings Reminder: NYMEX Products on the CME Market Data Platform March Reminder: NYMEX Catastrophic Risk Index Futures Launch on CME Globex Reminder: NYMEX Softs TAS Launch on CME Globex Reminder: Daylight Saving Time Reminder: Enhanced Execution Reports and UDS: Combos CME FX Trading Schedule Change CME Equity Options Spreads Changes If you have any questions or concerns, please contact your CME Globex Account Manager at 312.634.8700; or at +44.20.7796.7100 in Europe.
Meet. Greet. Expand Your Horizons. View leading trading applications and meet with leading ISV representatives from: actant Bloomberg Cunningham EccoWare GL Trade Orc Software Patsystems Rolfe & Nolan RTS Realtime Systems Trading Technologies Where: CME Auditorium, 20 S. Wacker Drive, Chicago, Illinois 60606 When: Wednesday, February 28, 2007 2:30 - 5 p.m. CT Appetizers and drinks. CLICK HERE to RSVP with Joanna Reynolds.
Reminder: Extended NYMEX TAS Listings Effective this Sunday, February 25, 2007 (for trade date Monday, February 26), one additional contract for the following NYMEX TAS will be launched on the CME Globex platform.
Extended NYMEX TAS Listings
Product | Instrument Group Code | Product Code | Currently Listed Contracts | New Listed Contracts
NYMEX Energy TAS Futures - on Financially Settled Products
Crude Oil future TAS | WT | WST | 2 | 3
RBOB Gasoline future TAS | WT | RTT | 2 | 3
Heating Oil future TAS | WT | BHT | 2 | 3
Natural Gas Last Day future TAS | WT | HHT | 2 | 3
Natural Gas Penultimate future TAS | WT | HPT | 2 | 3
Brent Financial future TAS | WT | BBT | 2 | 3
NYMEX Energy TAS Futures - on Physically Settled Products
Crude Oil TAS | CT | CLT | 2 | 3
Natural Gas TAS | CT | NGT | 2 | 3
RBOB TAS | CT | RBT | 2 | 3
Heating Oil TAS | CT | HOT | 2 | 3
Russian Export Blend Crude Oil (REBCO) TAS | CT | RET | 2 | 3
NYMEX iPort TAS Futures - on Financially Settled Products
3-2-1 Plus TAS | WT | WXT | 2 | 3
More information on NYMEX and COMEX products on the CME Globex platform is available at www.nymexoncmeglobex.com. Reminder: NYMEX Products on the CME Market Data Platform 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) at this time; however, it will be eliminated in both the certification and production environments on Sunday, May 6, 2007. Complete information on the three new NYMEX and COMEX channels on the CME Market Data Platform, including the products assigned to each channel, is available online. The new CME Market Data Platform channels are currently available in the certification environment, and will launch in the production environment this Sunday, February 25. More information on NYMEX and COMEX products on the CME Globex platform is available at www.nymexoncmeglobex.com. Reminder: NYMEX Catastrophic Risk Index Futures Launch on CME Globex Effective Sunday, March 4, 2007 (for trade date Monday, March 5), the following NYMEX Catastrophic Risk Index futures will launch on the CME Globex platform.
NYMEX Catastrophic Risk Index Futures
Product | Instrument Group Code | Product Code | MDP Channel | Contract Size | Contract Tick Size | Tick Value | CME Globex Tick Size | Listed
Catastrophic Risk Nationwide | WU | WU | 32 | 10 Index Points | 1.00 | $10.00 | 1 | 3
Catastrophic Risk Texas to Maine (excluding Florida) | WY | WY | 32 | 10 Index Points | 1.00 | $10.00 | 1 | 3
Catastrophic Risk Florida | WF | WF | 32 | 10 Index Points | 1.00 | $10.00 | 1 | 3
The need for protection against catastrophe risk is at a record high due to the combination of changing weather patterns, recent loss activity and the consequent change in industry peril modeling, rating agency criteria and solvency requirements. The NYMEX Property Damage Risk futures will allow real-time property risk management through a cleared futures exchange. The contracts will be financially settled against the Re-Ex Index by Gallagher Re, the specialist reinsurance intermediary and advisory firm. These NYMEX Property Damage Risk futures will be available for customer testing in the CME certification environment this Monday, February 26, 2007. NYMEX Softs TAS Launch on CME Globex Effective Sunday, March 11 (for trade date Monday, March 12), the following NYMEX Softs TM TAS contracts will launch on the CME Globex platform.
NYMEX SOFTS TAS CONTRACTS
Product | Instrument Group Code | Product Code | MDP Channel | Contract Size | Contract Tick Size | Tick Value | CME Globex Tick Size | Listed
Cocoa TAS | C1 (C-one) | CJT | 32 | 10 metric tons | 1.00 | $10.00 | 1 | 3
Coffee TAS | KD | KTT | 32 | 37,500 pounds | 0.0005 | $18.75 | 5 | 3
Cotton TAS | TC | TTT | 32 | 50,000 pounds | 0.0001 | $5.00 | 1 | 3
FCOJ TAS | FA | FJT | 32 | 15,000 pounds | 0.0005 | $7.50 | 5 | 3
Sugar 11 TAS | YA | YOT | 32 | 112,000 pounds | 0.0001 | $11.20 | 1 | 3
Sugar 14 TAS | FD | FTT | 32 | 112,000 pounds | 0.0001 | $11.20 | 1 | 3
These NYMEX Softs TAS contracts will be available in the CME certification environment for customer testing this Monday, February 26, 2007. Reminder: Daylight Saving Time Effective this year, the schedule for Daylight Saving Time has been extended by the Energy Policy Act of 2005. Daylight Saving Time will now be in effect from Sunday, March 11, 2007, through November 4, 2007. Previously, Daylight Saving Time ran from the first Sunday in April through the last Sunday in October. CME Globex will continue to observe Daylight Saving Time and the new schedule. More information is available online. 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. 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 With this launch, customer systems must be able to accomodate Security Definition (MU) messages with up to 40 repeating groups (i.e., spread legs). CME recommends customers configure market data buffer size to accomodate up to 5120 bytes. Front-end trading applications interested in UDS: Combos functionality are required to certify via CME AutoCert+. This functionality is currently available for testing and certification. To access CME AutoCert+, please contact your CME Globex Account Manager at 312.634.8700, or in Europe at +44.20.7796.7100. More information on this release is available in the UDS: Combos and Enhanced Execution Reports Client Impact Assessment . CME FX Trading Schedule Change Effective Sunday, March 25, 2007, at customers' request, CME FX futures and options on CME Globex trading schedule will be expanded to open two hours earlier, at 3:00 p.m. Central time (CT) on Sundays. Currently, CME FX futures and options markets open on Sunday for trading at 5:00 p.m. CT. In addition, the pre-market open period will be reduced from the current 45 minutes to 30 minutes, commencing at 2:30 p.m. on Sundays. CME Equity Options Spreads Changes Effective Sunday, March 25, 2007 in the production environment, to provide consistent data across all product complexes, CME Globex will no longer publish settlement price data via the Instrument Creation (MO (m-oh)) and Price (M7) RLC market data messages for CME Equity options spreads only. Settlement price data will still be available in the MO and M7 messages for the outright options. To increase price clarity for CME Equity options spreads, with this launch CME will disseminate four-character strike prices (instead of the current three-character prices) in the Complete Instrument Code in RLC market data messages (e.g., position 72-91 of the MO message) and CME iLink order messaging (e.g., FIX tag 107, SecurityDesc, in Execution Reports). The total length of the Complete Instrument Code will not exceed 20 characters. The most significant digit of the strike price will be displayed in the Complete Instrument Code and tag 107, SecurityDesc. For example, currently a CME E-mini Russell options spread is disseminated as: ER:VCM7C150 200 With this change, the same spread will be disseminated as: ER:VCM7C8150 C8200 More information on the CME Market Data Platform and CME iLink messaging formats is available in the CME Globex SDKs. ©2007 Chicago Mercantile Exchange Inc (CME). All rights reserved. The Globe Logo, Globex®, E-mini®, iLink® Globex Trader® and CME® are trademarks of CME