Welcome to the CME Globex Notices for the week of June 4, 2007.
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.
Proposed CBOT Merger Client Impact
Assessment
CME previously announced that it intends to migrate e-cbot products to CME Globex in a phased
approach beginning Q1 2008, subject to completion of the CME-CBOT merger, which is expected to
occur mid-2007, pending approvals by regulators, shareholders of both companies and CBOT members,
as well as completion of customary closing conditions. In an effort to provide information as early
as possible regarding this electronic trading migration, the CME/CBOT Client Impact Assessment
document is now available for your reference at
www.cme.com/CBOTImpact. Key topics
discussed in this document are as follows:
- Key Dates and Events
- CME Globex System Impacts
- Product-Specific Functionality
- Fractional and Cabinet Pricing
- Implied Spread Functionality
- Matching Algorithms
- Market Data Messages and Channels
- Testing and Certification
- Bandwidth Recommendations
- Messaging Policy Implications
- User Identification
For more information about this client impact document, please contact
CME Globex Account Management
or via phone at 312.634.8700 or at +44.20.7796.7100 in Europe.
CME Connect Launch
CME Connect is a secure, Web-based site that allows customers to access CME applications
anytime, anywhere. From CME Connect, customers can access select tools including CME FirmSoft, the
Exchange Fee System, Clearing 21, COWS and disaster recovery applications.
CME Connect was first introduced in March, and will fully replace the CME Portal
this Friday, June 8, 2007.
Existing CME Portal users can access CME Connect with no user ID and password changes required.
If you are a new customer, please contact the CME Customer Support Group at 312.930.3444 to request
access.
Check out CME Connect today at
http://connect.cme.com. The CME Connect User
Guide is available at
www.cme.com/files/cmeconnectuserguide.pdf.
Zero Prices for CME Snowfall Futures
Effective
Sunday, June 17, 2007 (for trade date Monday, June 18),
CME Snowfall futures will support 0
(zero) trade and daily settlement prices. With this enhancement, customers will be able to trade
CME Snowfall futures outrights at zero prices; spreads may still be traded at positive, zero and
negative prices as appropriate.
More information on zero trade and daily settlement prices is available in the
Enhanced Futures Trade and
Settlement Prices Client Impact Assessment.
CME Credit Index Event Futures Launch
Effective
Sunday, June 17, 2007 (for trade date Monday, June 18),
CME Credit Index Event
futures will launch on the CME Globex platform. These futures have Product Code
CH2 and Instrument Group Code
CH.
CME Credit Index Event futures merge the benefits of over-the-counter (OTC) credit default swaps
with the advantages of exchange-traded derivatives. These new futures provide a transparent and
liquid means of writing protection on and acquiring protection against a number of defined
corporate credit events, including bankruptcy and failure to pay.
CME Credit Index Event futures will be available in the New Release Certification environment
for customer testing
this Monday, June 11.
Reminder: Strikes Change for CME E-mini NASDAQ-100
Options on Futures
Effective
Sunday, June 17, 2007 (for trade date Monday, June 18), with the expiration of the
June 2007 contracts, the strikes listing rules for
CME E-mini
NASDAQ-100
® options will change as described below.
| CME
E-mini NASDAQ-100 Strikes Listing Rules |
| Strike
Interval |
Current
Listings |
New
Listings |
| 5
basis points |
ATM
± 100 |
None |
| 10
basis points |
ATM
± 100 |
ATM
± 7.5% |
| 25
basis points |
ATM
± 100 |
None |
Reminder: CME Eurodollar Options Strike
Expansion
Effective
Sunday, June 17, 2007 (for trade date Monday, June 18), at customer requests, CME
is expanding the recently launched strikes at 12.5 basis points intervals to
all listed expirations, including all mid-curve options. With this change, strikes
will be listed at 12.5 basis points intervals, ATM ± 6 (150 points) for
all CME Eurodollar options. Outside the ATM ± 6 range, strikes will continue to be
listed at 25 points intervals.
Reminder: ITC Market Data for NYMEX on CME Globex
on CME Market Data Platform
Effective
Sunday, June 24, 2007, ITC2.1 market data for NYMEX and COMEX products on CME
Globex will be available via the CME Market Data Platform. With this launch, real-time NYMEX and
COMEX on CME Globex market data will be available via CME Market Data Platform in both ITC2.1 and
RLC formats.
NYMEX has announced that, as of September 28, CME Globex market data for NYMEX and COMEX
products traded on CME Globex will no longer be available via the NYMEX ITC2.1 multicast feed.
More information on these changes, and the differences between CME and NYMEX ITC2.1 market data,
is available
online. CME
Market Data Platform channel definitions for the new NYMEX and COMEX ITC2.1 channels in the
New Release
Certification environment, an
FAQ, and a
NYMEX-CME ITC2.1
Matrix are also available.
Reminder: NYMEX Options Launch on CME Globex
Effective
Sunday, June 24, 2007 (for trade date Monday, June 25), options on NYMEX Crude Oil
and Natural Gas futures and COMEX Gold and Silver futures will launch on CME Globex.
For NYMEX options, CME is introducing variable length strike prices of up to 5 bytes in the
Complete Instrument Code field in RLC market data messages and in SecurityDesc (FIX tag 107) in CME
iLink messages. Currently, in these fields CME supports fixed strike prices within product groups
of up to 4 bytes. More information on RLC market data is available in the
CME Market Data Platform SDK RLC Message
Specifications volume. More information on CME iLink messaging is available in the
CME iLink SDK Message Specifications
volume.
CME will host two mock trading sessions in the CME production environment for customers, on
Saturday, June 16 and Saturday, June 23. More information on the mock trading sessions will be
available soon.
| Product |
Instrument
Group Code |
Product
Code |
MDP
Channel |
| Crude
Oil |
LO |
LO |
35 |
| Natural
Gas |
ON |
ON |
36 |
| Gold |
OG |
OG |
37 |
| Silver |
SO |
SO |
37 |
These NYMEX options are currently available for customer testing in the New Release
Certification environment.
More information about this NYMEX options launch is available at
www.nymex.com.
Reminder: Legacy CME Certification Environment
Decommission
Effective
July 1, 2007, CME is decommissioning the legacy CME certification environment. The
new certification environments, launched earlier this year, provide greater flexibility and
functionality for developing, testing and certifying customer applications. More information on the
new certification environments is available at
www.cme.com/cert.
New IDs for the legacy CME certification environment are no longer available.
Any customers currently connected to the legacy CME certification environment will need to
migrate to the new environments before the July 1 cut-off. Please contact your
CME Globex Account Manager for
more information and to start your migration.
CME Eurodollar Extension
Effective
Sunday, July 22, 2007 (for trade date Monday, July 23), implied functionality will
be extended out through the first ten years (40 contract months) for CME Eurodollar futures and
future spreads. With this launch, CME is also launching implied butterfly and calendar futures
spreads for the first five years.
The additional butterfly and calendar spreads and implied functionality will be available in New
Release Certification for customer testing
Thursday, June 21.
©2007
Chicago Mercantile Exchange Inc (CME). All rights reserved.
The Globe Logo, Globex®, E-mini®, iLink®, Globex Trader®, Galax-C®, and CME® are trademarks
of CME |