As a reminder, all CME Group Quote
Vendors that currently use the legacy RLC format of market data must convert to FIX/FAST by
October 17, 2008, or be subject to monetary penalties
.
Those Quote Vendors currently using the ITC message
format must convert by Q2 of 2009.
As a requirement to
implement the FIX/FAST market data format, CME group is making testing and certification
mandatory
for all Quote
Vendors. This notice contains the following information related to this requirement:
·
Benefits for Quote
Vendors and CME Group’s customers worldwide
·
Description of CME
Group’s
two
testing/certification environments
·
Information about
connectivity options and establishing connections to
the testing/certification environments
·
Completion of
CME® Globex® Interface Development Agreement and
Schedule B forms
·
CSET-provided
assistance during development and testing/certification period
·
Accessing and using
the AutoCert+ testing/certification tool
·
One-on-one developer meetings with CME Group can
be scheduled, as needed, by contacting Market Data Operations at
MDO@cmegroup.com
.
·
A list of certified
FIX/FAST Quote Vendors will be added to the CME Group web site
Benefits of FIX/FAST
Certification
Certification is
now
mandatory,
for the following
reasons:
·
CME Group has
responsibility for disseminating an
ever-increasing amount of market data over its Market
Data Platform (MDP). With the conversion to the FIX/FAST format from the
legacy RLC message format by
October 17, 2008
, a greater need has
been identified for ensuring the integrity of the data, as it is processed and displayed by Quote
Vendors to CME Group customers, worldwide.
·
The
new format offers expanded functionality and has more nuances than our existing legacy message
formats. As such, this creates the need for
more extensive testing to ensure that Quote Vendor
FIX/FAST development efforts have meticulously accounted for our published FIX/FAST
specifications.
·
The
responsibility for “maintenance of the order book” has been transitioned to our Quote Vendor
community from CME Group, which is logic that must be thoroughly tested to ensure the results match
CME Group’s.
·
The
FIX/FAST suite of certification tests offered by CME Group enable Quote Vendors to test their
applications repeatedly using specific scenarios, such as simulation of system failures, forced
rejects or even market state changes. It will also help to ensure that Quote Vendor applications
properly receive and manage data related to instrument dictionary, order book representation,
market state, market statistics and other functionality supported on Globex.
Two CME Group
Testing Environments
CME Group offers
two
testing environments that are dedicated to the development needs of our Quote Vendors.
Both environments, which are described below, are similar in size and scale to CME Group’s
production environment. Please note that only “one” network
connection is required to access both testing
environments.
·
The
New Release Environment
offers the newest release of market data functionality that has or will be implemented by
CME Group, including FIX/FAST. Quote Vendors may use this environment as soon as they ready to
facilitate and validate their FIX/FAST development efforts. This environment will also be used for
all upcoming new market data-related releases.
·
The
Certification Environment
mirrors CME Group’s production market data environment in terms of functionality but not
speed, including current RLC functionality and messaging and FIX/FAST. This is used for testing and certification of all
functionality and messaging that exists in production.
Quote Vendors must
establish connectivity to both environments to certify (New Release = new functionality and
Certification = Production).
NOTE:
For
those Quote Vendors that provide front-end trading systems, both of these environments are
connected to CME Group’s clearing test environments to facilitate front-end and back-end system
testing simultaneously.
CME Group Testing and
Certification Environments -- Connectivity Options and Bandwidth Considerations
There are four options
described below for connecting to the two certification environments that were previously mentioned
in this notice. However, it is important to note that the connection must be in addition to your “
production” network connection.
Production network connections may NOT be used for
testing/certification.
Also, it is
critically important
to assess your bandwidth requirements as it relates to your conversion efforts. Our new
bandwidth requirements were distributed to all Quote Vendors on Friday, June 6, 2008. More
information can be obtained at
www.cmegroup.com/customerforum
.
§
VPN –
This
is the most basic connectivity option available and is free of charge.
Quote Vendors are able to
manage their own network and hardware connected to CME Group’s certification environment.
§
Client CERTLink –
This option enables Quote
Vendors to manage their own network and hardware that connects to CME Group’s certification
environments within the ATM “clouds” of CME-certified Telecom vendors. This option is available
worldwide.
§
CME CERTLink –
This option is a
CME-managed solution available to customers within the United States.
§
BT Radianz –
This option, provided
directly by the vendor, is fully managed and uses RadianzNet -- an IP-based extranet that connects
financial institutions worldwide.
CME Globex® Interface
Development and Testing Agreement and Schedule B
Completion of
both the
Globex Interface Development and Testing Agreement andSchedule B forms must be completed before access can
be granted to CME Group’s
New Release Environment (or Certification Environment
used for production certification). Please note that for those Quote Vendors, which do not offer
front-end trading systems,
Schedules A.1 and A.2 need not be completed.
Please contact
Market Data Operations, Quote Vendor Support
for the agreement and schedule.
Upon execution of the
forms, the forms should be sent to the following address; not to the address listed on the
forms:
CME Group
Market Data
Operations/Quote Vendor Support
20 S. Wacker Drive – 8
North
Chicago
, Illinois 60606
Accessing and Using
the AutoCert+ Testing/Certification Tool
The
AutoCert+ tool is CME Group’s automated certification tool that is available via the
Internet. To access
AutoCert+, Quote Vendors must first obtain
Channel Definitions, which can be done in one of two ways:
Additional
information is provided in the
Automated Certification Tool (AutoCert+) Access Guide. The link for this and other
certification documentation is shown below under the
Reference Materials caption.
FIX/FAST Development
and Certification Process -- Support
Once
you are connected to CME Group’s
New Release Environment, and you are ready to test and
certify, you may contact our CSET (Customer Support of Electronic Trading) group at
312.930-2322.
CSET is
available
Monday through Friday, during regular trading hours. CSET is responsible for both CME Group’s
testing environments and can answer any questions related to these environments. If you have
questions outside of the hours listed above, they should be e-mailed to
csetgroup@cme.com
.
Responses to all development questions received via email
are sent within 24 hours.
Upcoming Developer Round
Table Meetings
In the coming weeks, CME
Group will offer additional Developer Round Table meetings in New York and Chicago. These meetings
will address specific market data and trading system-related topics and will also be used as forums
for Quote Vendor development staff to ask questions related to FIX/FAST and the new certification
process.
If you are interested in
attending one of these Developer Round Table meetings, please email
Quotevendorsupport@cmegroup.com
Reference Materials
Documentation for the
FIX/FAST market data format is available at
http://www.cmegroup.com/globex/resources/fix-fast-market-data-format.html
. This site includes format specifications as well as a
Reference Code, for your convenience, in both a Java and C++ version.
The following is a list of
essential and very informative CME Group Testing and Certification documentation that is available
via
http://www.cmegroup.com/globex/resources/testing-and-certification-documentation.html
.
§
Certification Environments
Overview
§
Certification Connectivity
Guide
§
Automated Certification
Tool (AutoCert+) Access Guide
§
New Release MDP Channel
Definitions
§
Certification MDP Channel
Definitions
Action Items for Quote
Vendors
To quickly get up to speed
in preparation for both the conversion to FIX/FAST and mandatory certification testing, we’ve
listed the following action items that should be completed as soon as time permits. Going forward,
your CME Group contact for questions, form requests, AutoCert+ logins/passwords and IP addresses
and ports will be Market Data Operations/Quote Vendor Support.
§
Review this notice with
other appropriate staff within your firm.
§
Access and review the
certification documentation via the link shown in this notice.
§
Review the connectivity
options, and choose your certification connectivity method.
§
Contact Market Data
Operations/Quote Vendor Support to obtain the
Globex® Interface Development and Testing Agreement
and
Schedule B forms.
§
Request AutoCert+ login
and passwords.
§
Review all FIX/FAST
documentation published to-date.
§
Establish connectivity to
the
New Release and
Certification Environments.
§
Complete the Market Data
Test Suite in AutoCert+ for FIX/FAST.
§
Request production IP’s
and ports for FIX/FAST channels after completing the testing/certification process from Market Data
Operations/Quote Vendor Support
Summary
We realize that there is
considerable amount of information in this notice to digest and many to-dos that must be completed
within the coming months. We are here to assist you through every stageof testing, certification
and migration to FIX/FAST.
Please be aware that as each of our Quote Vendors completes
the certification process and converts to FIX/FAST, their name will be added to our CME Group web
site indicating that they are a “
CME Group-certified FIX/FAST Vendor.”<
/em>
Market Data
Operations/Quote Vendor Support Contacts
As always, please don’t
hesitate to contact the following individuals with any questions you may have:
§
Kevin Brady, Manager,
Quote Vendor Support – 312.648-3653 or
kevin.brady@cmegroup.com
§
Lakisha Speights, Project
Manager, Quote Vendor Support – 312.338-7110 or
lakisha.speights@cmegroup.com
§
Marilee Radecki, Associate
Director, Market Data Operations – 312.930-8193 or
marilee.radecki@cmegroup.com
§
Michele
Ivanski,
Associate Director, Client Management – 312.930-8504 or
michele.ivanski@cmegroup.com
THANK YOU!
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