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May 11, 2006
Welcome to the CME Globex Notices summary for the week of May 11, 2006.
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.
Reminder: Asian CME Electronic Trading Customer Forums
CME would like to invite you to the upcoming CME Electronic Trading Customer Forums in Asia on May 23 and May 25. Registration and more information on the upcoming CME Electronic Trading Customer Forums is
available online.
A representative from NYMEX will be presenting at the Asian Forums. At the Singapore event, enhanced CME Eurodollar options
functionality will be demonstrated by a select group of ISVs. Each meeting will be followed by a reception.
MO Market Data Message Changes
CME recently identified errors in the following attributes of the Instrument Creation (MO (m-oh)) market data messages.
- Product Code - position 830, length 10
- Minimum Price Fluctuation - position 840, length 19
- Strategy Type - position 727, length 2
The errors have been resolved and these corrected attributes are currently available in the MO messages in the CME certification
environment for testing.
MO messages with the corrected attributes will be launched on the CME Globex platform Sunday, May 21 (for trade date Monday, May 22).
In addition, the following attributes of the MO messages exhibit inconsistent behavior and are still under investigation.
We will send an update when more information is available. Until these issues are resolved, these attributes should not be utilized by customer systems:
- Trade Unit - position 94, length 19
- Minimum Monetary Value Fluctuation - position 859, length 19
- Display Conversion Factor - position 878, length 19
Further information on the MO message and its attributes is available in the CME Market Data Platform RLC Message Specifications.
If you have any questions or concerns about this CME market data change, please contact CSET at 312.930.2322.
Reminder: CME Spread Type Changes
Effective Sunday, May 21, 2006 (for trade date Monday, May 22), to simplify and streamline customer processing of CME-listed spreads, CME is implementing
new Spread Type values for the Instrument Creation (MO) message, position 727-728. These new values can be used to easily
determine the spread type and associated listing conventions.
These new Spread Type values are currently available for customer testing in the CME certification environment.
More information on this Spread Type change is available online.
Reminder: CME Market Data Change
Effective Sunday, May 21, 2006 (for trade date Monday, May 22), to reduce bandwidth utilization, CME is eliminating all Delete N Lines (MC) and Market Sheet (MF) market data messages.
More information on this market data change is available online.
Reminder: End-of-Month Options on the CME Globex Platform
On Sunday, May 21, 2006 (for trade date Monday, May 22), for the first time, CME is scheduled to launch end-of-month options on CME E-mini S&P 500® and CME S&P 500 futures on the CME Globex electronic trading platform.
End-of-month options are currently available for testing in the CME certification environment.
More information on this product launch is available online.
Reminder: CME Housing Futures Launch
Effective Sunday, May 21, 2006 (for trade date May 22), CME Housing futures will be launched on the CME Globex electronic trading platform.
CME Housing futures are currently available for testing in the CME Globex certification environment.
More information on this CME Globex product launch is available online.
CME Lean Hog Futures Daily Price Limit Change
Effective Sunday, May 21, 2006 (for trade date, Monday, May 22), the Daily Price Limits for all contract months of CME Lean Hog futures will increase from the current $2.00 per hundredweight to $3.00 per hundredweight. This change applies to both the trading
floor and the CME Globex platform.
Reminder: CME Equity and CME FX Spreads: Leg Execution Reports
Effective June 25, 2006 (for trade date Monday, June 26), to enhance the transparency of the markets, CME is scheduled to launch leg execution reports
for CME Equity and CME FX spreads.
CME Equity and CME FX spreads leg execution reports will be available for testing in the CME certification environment this Monday, May 15. A short suite of optional tests for this functionality is currently available in the CME AutoCert tool.
More information and documentation is available online. The Summer 2006 CME Equity and CME FX Enhancements Client Impact Assessment and the Summer 2006 CME Equity and CME FX Enhancements CME AutoCert Guide are also available.
Reminder: Mass Quote Message Change
Effective Sunday, July 9, 2006 (for trade date Monday, July 10), to simplify and improve processing, CME is reducing the maximum number of quotes a market
maker can submit in a single Mass Quote message to 100. Currently, market makers can submit a maximum of 195 quotes in a single Mass Quote message.
This change to the Mass Quote message will be available for testing in the CME certification environment Sunday, May 21, 2006.
More information on this change is available online.
Reminder: CME Market Data API Elimination
As previously announced, CME is eliminating CME Market Data API (MD API), the legacy market data vehicle, on July 1, 2006. All CME MD API customers must complete the migration to the CME Market Data Platform before July 1.
More information on the CME MD API cut-off and the CME Market Data Platform is available online.
Reminder: Covered CME Eurodollar Options: User-Defined Spreads Phase I
On Sunday, July 9, 2006 (for trade date Monday, July 10), CME is scheduled to launch Covered CME Eurodollar options on futures (Covereds). Covereds are the first phase of the CME User-Defined Spreads (UDS) initiative, and the model for future UDS functionality.
With this launch, CME is introducing three new order entry messages and one new Security Definition (MU) market data message, for creating Covereds. This release will impact:
- All customers interested in trading Covereds; and,
- All customers receiving CME Eurodollar options market data on channel 10 of the CME Market Data Platform.
All impacted customers are required to complete a manual certification. Covereds will be available in the CME certification environment Sunday, May 28.
More information on Covereds is available online and in the User-Defined Spreads for CME Eurodollar Options: Covereds Client Impact Assessment.
Reminder: Ex-Pit Transaction Functionality
On Sunday, July 9, 2006 (for trade date Monday, July 10), to facilitate market transparency, CME is scheduled to launch Ex-Pit transaction functionality on the CME Globex platform.
All customers interested in Ex-Pit transactions are required to complete a quick certification on the CME AutoCert tool. Ex-Pit transaction functionality is currently available in the
CME certification environment.
More information on Ex-Pit transactions functionality is available online and in the Ex-Pit Transactions Client Impact Assessment.
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