• UPDATE: CME and CBOT Transition to New Positions

      • To
      • Clearing Member Firms; Back Office Managers
      • From
      • CME Clearing
      • #
      • 10-303
      • Notice Date
      • 16 July 2010
      • Effective Date
      • 16 July 2010
    • This is an update to the status of the new FIXML Trade Register for CME and CBT trades and positions. As was previously reported, the deadline to convert was to be on July 16, 2010. We are moving this date to August 20, 2010.
      All firms are receiving the duplicate files and should be testing. CME Clearing currently has three defects with the trade register files.
      • Pending claim from allocate/claim EFP transactions (mainly currencies) are on the new register
      • MOS out-trades are not on the FIXML Trade Registers
      • If the Premium is zero the PREM element was not in the FIXML Trade Register.
      The first item is scheduled to be corrected this weekend. The second and third items are scheduled for implementation on July 31, 2010.
      If your firm does not execute MOS transactions or if not having MOS out-trades is acceptable then you are free to convert to the new register as early as Monday, July 19, 2010. If your firm does execute MOS transactions then you will be given ample time to test the new register before August 20, 2010.
      Phase 2
      The next phase of the conversion effort will involve moving clearing the CBOT products to the new Positions System. The target for this conversion scheduled for October 16, 2010. New Release testing will be held in September and will mainly cover user interface functionality.
      Phase 3
      The final phase of the conversions will be moving CME clearing to the new system which is planned for January 22, 2011. The application will be available in New Release if any firm would like to test the system then.
      For further information please contact CME Clearing at 312-207-2525 or CCS@CMEGroup.com.

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