• CME Globex Credit Controls Phase 2 Production Launch

      • To
      • Clearing Member Firms
      • From
      • CME Clearing
      • #
      • 09-178
      • Notice Date
      • 30 April 2009
      • Effective Date
      • 03 May 2009
    • Phase 2 of the CME Globex Credit Controls functionality will launch in production this Sunday, May 3rd.  It is available in New Release for testing and firms are highly encouraged to test the new “Auto” functionality in New Release prior to implementation. Clearing Firms already using Phase 1 (Manual) in production will notice a new tab available (Auto) with Phase 2 functionality upon logging in to the GC² tool.  More information is available at http://www.cmegroup.com/globex/trading-cme-group-products/risk-management-services.html?show=Credit%20Controls.
      CME Globex Credit Controls provides pre-execution risk controls that enable clearing firm risk administrators to set credit limits through the GC² tool. Risk administrators are able to define trading limits and select real-time actions if those limits are exceeded, including e-mail notification; order blocking; and order cancellation.
      Phase 2 features all functionality from Phase 1, plus:
      ·          Automated credit control management defined by firm administrators
      ·          View open and filled positions by executing firm
      ·          Auto cancel orders
      Phase 1, launched Sunday, September 28, enables clearing firm risk administrators to maintain manual credit control limits by setting a maximum order size and the capability to block new orders.
      Please contact the Clearing House Risk Management Department at 312.648.3888 for more information. Clearing Firm Administrators can contact Globex Account Management at (312) 930-8700 or globexaccountmanagement@cmegroup.com to sign up.