GLOBEX Advisory Notices
To CME Globex Customers
From CME Globex Account Management
Subject CME Globex Notices: October 16, 2006
Notice Date 2006-10-16
Notice Number 101606
Effective Date  
CME Globex(R) Notices

Welcome to the CME Globex Notices summary for the week of October 16, 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.


CME Electronic Trading Customer Forums 
CME is proud to host the CME Electronic Trading Customer Forums.

The CME Electronic Trading Customer Forums are a communication vehicle to update customers and solicit feedback on topics related to CME's electronic trading strategy over the next 6 - 12 months, including new policies, enhancements, and products. Representatives from FCMs, IBs, proprietary trading groups, ISVs and market data distributors are encouraged to attend.

These meetings will be followed by receptions.

To attend a CME Electronic Trading Customer Forum, please register online.

The agenda includes:

  • CME Product Update
  • Electronic Options Update
  • CME Globex Trader and CME EOS Trader Update
  • User-Defined Spreads (UDS) Phase 2
  • NYMEX Products on the CME Globex Platform
  • CME Market Data Format
  • New Offering: CME LNet
  • New CME Certification Environments
Chicago
Tuesday, October 24
3:30 p.m. Registration
4:00 p.m. Presentation

CME Auditorium
20 S Wacker Dr
Chicago, IL
London
Wednesday, November 8
15:30 Registration
16:00 Presentation

The London Underwriting Centre
3 Minster Court, Mincing Lane
London

These events are free and attendance is limited to CME customers.


CME LNet Update 
CME LNet is a customer-managed solution via a CME-specified colocation facility, where customers are required to house a CME-certified trading application in one of two specified colocation facilities. CME LNet may not be utilized as a network-only connectivity option. CME LNet is currently in the testing phase, and will be available in production by the end of the year.

CME LNet offers reduced network latency because the colocation facilities are directly connected to the CME fiber optic transport, i.e. the CME Globex network. Also, for non-local customers, CME LNet provides a lower-latency connectivity solution.

CME is now accepting CME LNet connection orders from qualified customers. CME can only accept applications from customers who meet the following requirements:

  • Have a presence at one of the CME-approved colocated facilities.
  • Maintain a CME-authorized redundant site.

CME LNet is currently in testing. Customers may request a CME LNet connection via an executed Schedule 2, Access Request Form. When CME LNet goes into production, the Access Requests will be processed and connections established in the order the Access Request forms were received.

Please refer to the CME LNet Connectivity Guide and the CME LNet FAQ for more information.


Reminder: NYMEX REBCO Futures Launch on the CME Globex Platform 
Effective this Sunday, October 22, 2006 (for trade date Monday, October 23), the NYMEX Russian Export Blend Crude Oil (REBCO) futures and calendar spreads will launch on the CME Globex platform.

To support listing a wide array of REBCO spreads in the future, the Instrument Group Code for all REBCO products is CL. The Product Code is RE.

The REBCO contract features physical delivery of REBCO on a free-on-board basis at the port of Primorsk, Russia on the Baltic Sea. The contract size is 1,000 barrels, denominated in U.S. dollars and cents per barrel. REBCO futures will be listed on the CME Globex platform for 72 consecutive months beginning with the January 2007 contract. More information on this new product is available online.

These futures and calendar spreads are currently available in the CME certification environment for customer testing.


Reminder: CME Market Data Platform Enhancements 
Administrative Message Routing
To streamline market data processing, effective this Sunday, October 22, 2006, in the CME production environment, the following market data messages, currently disseminated via the administration channel, will be disseminated via the relevant CME Market Data Platform product channels:

  • Instrument Creation (MO) messages
  • Trading Day Timetables (MH) messages
  • Group State Change Marker (MJ) messages
  • Start of CME Globex Platform (MK) messages
  • Start of Instrument Referential Broadcasting (ML) messages
  • End of Instrument Referential Broadcasting (MM) messages

These administrative messages will be broadcast via both the relevant product channels and the administration channel for two months to ensure adequate customer testing time. These messages will then only be disseminated via the relevant product channel. The SPI mail messages will be the only market data messages broadcast on the administration channel.

There is no change to the Instrument Creation (MO) Messages - Replay Only and Instrument Creation (MO) Messages - Replay Only (Excluding CME Eurodollar Options) channels (1 and 16).

These changes, with these messages broadcast on both the administration and product channels, are currently available in the CME certification environment.

More information on the CME Market Data Platform is available in the CME Market Data Platform Developer's Guide. Details on the CME market data messages can be found in the CME Market Data Platform RLC Message Specifications.

Market Data Message Batching
Also effective this Sunday, October 22, to improve the efficiency of market data dissemination, the CME Market Data Platform is enabling the market data message batching functionality. Multiple market data messages will be batched into a single network frame. Although this functionality has been available since the launch of the CME Market Data Platform, as outlined in the CME Market Data Platform Developer's Guide, Section 3.1.2 Message Batching, CME is leveraging it now in response to the market data messaging increases.

To facilitate customer testing, the batching functionality is currently enabled for all channels in the CME certification environment and on the CME Globex Equity Options channel (8) only in the CME production environment. Continuous batching of simulated market data messages for CME Class III Milk futures (product code = DC) on the CME Globex Commodities, Industrial Commodities and TRAKRSSM Options channel (14) is now available in the CME certification environment.

Please contact your CME Globex Account Manager with any questions or concerns.


CME Certification Environment Schedule Change 
To support the upcoming UDS: Covereds Expansion release, next week the CME certification environment will be unavailable:

  • 12:00 p.m. - 5:00 p.m. Central time (CT), Tuesday, October 24 (normal maintenance window)
  • 3:30 p.m. - 4:00 p.m. CT, next Thursday, October 26.
  • 12:00 p.m. - 12:30 CT, next Friday, October 27.

The following week, the CME certification environment maintenance window will return to the normal schedule.

If you have any questions or concerns about this schedule change, please contact CSET at 312.930.2322.


Reminder: CME Weather Products Launch 
Effective Sunday, November 5 (for trade date Monday, November 6), the following new CME Weather futures and seasonal strips will launch for trading on the CME Globex platform.

Please note: The product codes for these new CME Weather products were previously assigned to CME Weather Seasonal futures. If your front-end system requires it, customers must purge their instrument databases for both the CME certification and production environments and re-populate using the new Instrument Creation (MO (m-oh)) market data messages. Please contact your front-end system provider for more information.

CME Seasonal Strip Snowfall Futures
  Product Code October Strip November Strip December Strip January Strip February Strip March Strip
Boston
Logan International Airport
SB SBV SBX SBZ SBF SBG SBH
New York City
Central Park
SX SXV SXX SXZ SXF SXG SXH

CME Canadian Weather Monthly Futures
  Heating Degree Days (HDD) Cooling Degree Days (CDD)
Calgary A2 P2
Edmonton A4 P4
Montreal A5 P5
Toronto A7 P7
Vancouver A8 P8
Winnipeg A9 P9

CME Canadian Weather Heating Degree Day (HDD) Seasonal Strips
  Product Code October Strip November Strip December Strip January Strip February Strip March Strip
Calgary A2 A2V A2X A2Z A2F A2G A2H
Edmonton A4 A4V A4X A4Z A4F A4G A4H
Montreal A5 A5V A5X A5Z A5F A5G A5H
Toronto A7 A7V A7X A7Z A7F A7G A7H
Vancouver A8 A8V A8X A8Z A8F A8G A8H
Winnipeg A9 A9V A9X A9Z A9F A9G A9H

CME Canadian Weather Cooling Degree Day (CDD) Seasonal Strips
  Product Code April Strip May Strip June Strip July Strip August Strip September Strip
Calgary P2 P2J P2K P2M P2N P2Q P2U
Edmonton P4 P4J P4K P4M P4N P4Q P4U
Montreal P5 P5J P5K P5M P5N P5Q P5U
Toronto P7 P7J P7K P7M P7N P7Q P7U
Vancouver P8 P8J P8K P8M P8N P8Q P8U
Winnipeg P9 P9J P9K P9M P9N P9Q P9U

Options on these new CME Weather futures will be available for trading on the CME trading floor only.

These new futures and strips will be available for customer testing in the CME certification environment this Sunday, October 22.


Reminder: UDS: Covereds Expansion - CME Equity, FX and Commodity Options 
To support the impressive growth in electronically traded options, CME is expanding User-Defined Spreads (UDS): Covereds functionality on the CME Globex platform to CME Equity, Foreign Exchange (FX) and Commodity options. With UDS: Covereds functionality, CME customers can create unique instruments composed of an option outright or spread covered with one or two futures.

The enhancements will be phased in by product group:

November 5, 2006 CME FX options
November 19, 2006 CME Equity options
December 4, 2006 CME Commodity options (listed electronically for the first time)

The new functionality is currently available for customer testing on the CME Equity, FX and Commodity options in the CME certification environment.

More information on the UDS Expansion launch is available online in the UDS Expansion Client Impact Assessment.

With this launch, options markets will no longer be available via the CME Globex Trader trading application. More information on the removal of options markets and the CME Globex Trader decommission is available online.


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