• FIXML Electronic Confirms and Give-up API Messaging Update

      • To
      • Clearing Member Firms; Service Bureau Representatives; Independent Software Vendors
      • From
      • CME Clearing
      • #
      • 08-15
      • Notice Date
      • 29 January 2008
      • Effective Date
      • 29 January 2008
    • We would like to inform you that clearing firms and service providers have made great progress in their FIXML development and testing to prepare for the Electronic, Pit and Give-Up API FIXML conversion.  While CME and Clearing Firms continue testing, we understand that firms and service providers are in their last stages of validating their systems before they fully convert to FIXML.
      With that in mind, it is our policy to maintain an orderly conversion without adversely impacting clearing firms’ day-to-day operations.  Clearing has closely monitored clearing firm and service provider progress in converting to the Electronic and Give Up API FIXML. Our goal is to have all firms converted to FIXML for electronic trades and give-up processing by March 28, 2008. Clearing’s plan is to eliminate the Electronic and Give Up API TREX formats in a time frame consistent with firms’ conversion to FIXML. 
      Meeting the March 28, 2008 deadline will help clearing firms support continued rapid growth of trading volume. Among other things, this growth requires the need to expand clearing trade ID sequence numbers to at least 7 digits, which is not supported by TREX.
      To reduce the time firms will have to support both TREX and FIXML, the deadline for converting to FIXML for all remaining TREX message types -- for pit trades, transfers, flex trades, and differential spread (SLEDS) trades -- is now April 30, 2008.
      We request that all firms test and certify their success in CME Clearing's certification environment.   The Cert environment is available daily from 8:00 am to 5:00 pm, except on Tuesday when it is available until noon.
      For questions, please contact CME Clearing Services at 312.207.2525 or e-mail at ccs@cmegroup.com
      Thank you.