• Date Change for Phase II of Mandatory CME Globex Credit Controls

      • To
      • Clearing Member Firms; Back Office Managers
      • From
      • CME Clearing
      • #
      • 10-521
      • Notice Date
      • 28 December 2010
      • Effective Date
      • 28 December 2010
    • In order to enhance the risk management tools available to clearing firms utilizing CME Globex®, CME
      Group (on behalf of CME/CBOT/NYMEX/COMEX) rolled out enhanced CME Globex Credit Control functionality, commonly referred to as “GC2”, in May 2009. The purpose of GC2 is to provide clearing firms with an additional, backstop risk management tool that allows for flexible administration of limits on the accumulation of daily exposure on CME Globex. GC2 was initially made available to clearing firms on a voluntary basis. Effective August 6, 2010, it was mandatory that clearing members employ GC2 credit control functionality on every one of their CME Globex Execution Firms.

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