• CME Clearing Notice: December 19, 2011

      • To
      • Clearing Member Firms; Back Office Managers
      • From
      • CME Clearing
      • #
      • 11-467
      • Notice Date
      • 19 December 2011
      • Effective Date
      • 19 December 2011

    • NOTICE #: 11-467
      SUBJECT: CME Clearing Notice: December 19, 2011
       
      Topics in this issue include:
       
      *        Deliveries
      *        Events & Announcements
       
      Critical System Updates
      Upcoming CDS Enhancements and Changes
      We are pleased to announce a list of CDS enhancements and changes that are scheduled to be implemented in December 2011 and January 2012 respectively. Please see below detailed list of the enhancements, including Production dates.
       
      Platform ID added to TradCaptRpt Messages:
      In PRODUCTION on Monday, December 12, 2011, the Platform ID FIXML tag, ExecID2, is added to the real-time CDS FIXML trade messaging on TradCaptRpt messages. This enhancement is currently available in New Release for testing. CME Clearing will not populate the ExecID2 tag in the EOD CDS FIXML Trade Register until Q1 2012.
       
      Initial Payment added to FIXML Trade Register:
      In PRODUCTION on Monday, December 12, 2011, Initial Payment (IPMT) is added to TradCaptRpt messages on the CDS FIXML Trade Register. The Initial Payment tag is added below the Instrmt block with the other Amt fields. This enhancement is currently available in New Release for testing.
       
      Effective Date added to FIXML Trade Register:
      Please note that the CDS Effective Date (EventTyp="8") enhancement will NOT be included in this weekend’s release. We will publish another notice when this is to be released in Production. This enhancement is currently available in New Release for testing.
       
      Correction to Cash_Adj and Posn_Cash on CDS Positions Summary: 
      In PRODUCTION on Monday, January 9, 2012, the Cash_Adj and the Posn_Cash columns on the CDS Positions Summary CSV file are corrected to display the correct values. The Cash_Adj column will now represent the difference between the submitted Up-Front Fee and the CME calculated Up-Front Fee. The Posn_Cash column will now represent daily PAI. These changes have been made in New Release and are currently available for testing. Please keep in mind that CME Clearing has not yet determined a final date for the production launch of daily PAI, thus, until the launch of daily PAI in production, the Posn_Cash column will not contain any value.
       
      For any questions related to the above list of enhancements, please contact CME Client Services at (312) 338-7112 or via email to onboarding@cmegroup.com.
      Deliveries
      Updated List of Live Cattle Stockyards and Slaughter Plants
      This link provides the stockyards and slaughter plants that have been approved for deliveries against the CME Group Live Cattle futures contract from October 1, 2011 through January 31, 2012. Delivery point information and contact numbers are listed for your reference.
      If there any questions, please contact the Deliveries Unit at (312) 930-3172.
      This link provides the relevant delivery dates for December 2011 Chicago Mercantile Exchange Inc., Chicago Board of Trade, New York Mercantile Exchange, Dubai Mercantile Exchange, COMEX and GreenX contracts.
      The GreenX December 2011 Certified Emission Reduction (CER) contracts for both the Legacy and In Delivery Month contracts will soon expire. The Legacy contract, commodity code (VA), will terminate November 29, 2011 and the In Delivery Month contract, commodity code (6S) will terminate December 19, 2011. 
       
      Consequently, CME Group is reminding all GreenX Clearing Members of GreenX Rule 511, Adherence of Law, which states:
       
      “No Participant or any of its Authorized Traders or Supervised Persons shall engage in conduct in violation of Applicable Law including, but not limited to, laws and regulations relating to economic or trade sanctions, the GreenX Rules or the Clearing House Rules (insofar as the Clearing House Rules relate to the reporting or clearance of any transaction in Contracts).” 
      “Applicable Law” means, with respect to any Person, any statute, law, regulation, rule or ordinance, including laws and regulations relating to economic or trade sanctions, of any governmental or self-regulatory authority applicable to such Person, including the CEA and CFTC Regulations (GreenX Rulebook Chapter 1, Definitions.)
      Accordingly, any CERs from any country on the U.S. Office of Foreign Assets Control (OFAC) SDN – Specially Designated Nationals list or targeted countries and, thus, subject to U.S. sanctions will not be acceptable for delivery. 
       
      If there are any questions, please contact Deliveries at 312-930-3172.
      Events & Announcements
      Brokerage Payment System (BPS) - Rebranding
      Effective Monday, December 19, 2011, the BPS application will reflect CME branding standards; namely the “look and feel” will be similar to that of the other trade revenue systems; such as the Give-Up Payment System (GPS) and the Exchange Fee System (EFS).
      This upgrade was in design only; current BPS functionality will remain the same. For those interested, the newly branded BPS version is available for review under the Broker Payment System Training link via CME’s certification portal at connectcert.cme.com.
      In an effort to migrate to a single sign-on solution, effective Monday, December 19, 2011, all BPS users will be required to use their CME Portal (connect.cmegroup.com) credentials (user id and password) when accessing the BPS login screen.  
      Should you have any questions or concerns please contact CME Clearing Services at 312.207.2525 or email at ccs@cmegroup.com.
      Effective Monday January 23, 2012, CME Clearing will begin offering FIXML exercise report to complement the currently available FIXML option assignment report. This will provide firms with enhanced straight through processing capabilities for both types of data. The reports will be available for testing in New Release beginning December 27, 2011.
       
      For the initial phase, the message format will be as follows:
       
      Field Name
      FIXML Attribute Name
      Data Type
      Description
      Supported Values/Notes
      PosMntRpt
      Message ID
      RptID
      String
      Unique identifier for this position report
       
      Transaction Type
      TxnTyp
      int
      Identifies the type of position transaction
      1 = Exercise
      2 = Do Not Exercise (**The value “2” will not be available until Phase II.)
      Action
      Actn
      int
      Maintenance Action to be performed.
      1 = New - used to increment the overall transaction quantity
      Clear Date
      BizDt
      LocalMktDate
      The Clearing Business Date covered by this request
       
      Settlement Session ID
      SetSesID
      String
      Identifies a specific settlement session
      EOD = End Of Day
       
      Holiday Clearing Schedule-Christmas Holiday-Monday, December 26, 2011
      *Schedules subject to change. For update to date trading schedule changes please refer to the links below*
       
       
       
       
       
      BANKING, SPAN AND OUT-TRADE PROCESSING CYCLES
      The intra-day and end-of-day banking and settlement cycles will occur at their normal times on Friday, December 23, 2011. There will be no banking and settlement cycle processing on Monday, December 26, 2011. The U.S. bank holiday will also prohibit the usage of December 26, 2011 as a “Settle date” for any and all foreign sovereign debt transactions.
       
      As securities near their maturity date, the values of these assets change that result in changes to their Performance Bond values at CME. With this, you may see change in the asset values on deposit with CME come Tuesday morning after the holiday.
       
      Also decrease in the values of these collateral assets from Friday to Monday may result in PB call/release, which would be banked Tuesday morning. These PB call/releases would be banked in addition to the regular RTH settlements for Friday.
       
      Settlement variation and performance bond cash call/release amounts resulting from the Friday, December 23, 2011, RTH settlement cycle will be confirmed by settlement banks by 7:30 a.m. on Tuesday, December 27, 2011. Settlement bank will process cash flows resulting from Friday’s RTH settlement cycle on Tuesday, December 27, 2011.
       
      SPAN files will be generated on Friday, December 23, 2011 according to the normal schedule. There will be no SPAN files on Monday, December 26, 2011. 
       
      DEPOSITS OF PERFORMANCE BOND COLLATERAL
      The U.S. bank holiday will prohibit the posting of transactions dated Monday, December 26, 2011. Consequently, clearing firms will be unable to deposit or withdraw collateral on Monday, December 26, 2011.
       
      FOREIGN CURRENCY PERFORMANCE BOND CASH WITHDRAWALS
      Due to the holiday’s effects on transaction processing, please note the following value dates on foreign currency performance bond cash withdrawals:
       
      Swiss franc, Australian dollar, New Zealand dollar, Swedish krona, Norwegian krone, Japanese yen, Turkish lira
       
      Trade Date                                                                             Value Date
      Wednesday, December 21, 2011                         Thursday, December 22, 2011
      Thursday, December 22, 2011                                              Thursday, December 22, 2011
       
      Canadian dollar, Mexican peso, Euro, British pound
       
      Trade Date                                                                             Value Date
      Tuesday, December 20, 2011                                               Tuesday, December 20, 2011
      Wednesday, December 21, 2011                         Wednesday, December 21, 2011
      Thursday, December 22, 2011                                              Thursday, December 22, 2011
       
      Swiss, Swedish and Norwegian holiday on December 24-26th.
       
      Canadian holiday on December 28th.
       
      FOREIGN CURRENCY SETTLEMENT VARIATION
      Please note the following value dates for foreign currency settlement variation.
                                     
      Swiss franc, Australian dollar, New Zealand dollar, Swedish krona, Norwegian krone, Japanese yen, Turkish lira
       
       
                                      Trade Date                                                                             Value Date
      Tuesday, December 20, 2011                                               Thursday, December 22, 2011
                                      Wednesday, December 21, 2011                         Friday, December 23, 2011  
                                      Thursday, December 22, 2011                                              Tuesday, December 27, 2011
       
      Canadian dollar, Mexican peso, Euro, British pound
                                      Trade Date                                                                             Value Date
      Monday, December 19, 2011                                                Tuesday, December 20, 2011
      Tuesday, December 20, 2011                                               Wednesday, December 21, 2011
      Wednesday, December 21, 2011                         Thursday, December 22, 2011
      Thursday, December 22, 2011                                              Friday, December 23, 2011
       
      Euro; Swiss; Swedish and Norwegian holiday on December 24-26th.
      British; Australian; New Zealand holiday on December 28th.
       
      A.M. SETTLEMENT CONFIRMATIONS
      CME Group is closed on Monday, December 26, 2011. Therefore, your settlement bank will not provide an a.m. settlement confirmation for both U.S. dollars and foreign currency transactions on Monday, December 26, 2011. Payment for U.S. dollar settlement transactions from RTH cycle of Friday, December 23, 2011, will occur on Tuesday, December 27, 2011.
       
      INTEREST EARNING FACILITY (IEF2)
      Please note the following adjustments to IEF2 processing:
       
      Deadlines for Funds                            12/23/11 12/26/11
      *BlackRock                                            2:00 p.m.                 Closed                   
      Cash Funds: Prime                                                                             
      FedFund                                                2:30 p.m.
      TempFund                                             2:30 p.m.
       
      *Dreyfus                                 2:30 p.m.                Closed                   
      Institutional Cash Advantage                                                                
      Treasury & Agency Cash Mgmt
       
      *DWS                                                      2:30 p.m.                Closed                   
      Gov Cash                                                                              
      Money Market Series
       
      Federated                                              2:30 p.m.                 Closed                   
      Prime Obligations Fund                      
       
      FFI                                                          2:30 p.m.                 Closed                                   
      Select Institutional Fund      
       
      *Goldman Sachs                                   2:30 p.m. Closed                   
      Fin Square Money Market Fund
      Financial Square Prime
      Obligations Fund                                                 
       
      *HSBC                                                                                                   
      Government                                           1:00 p.m.                 Closed                   
      Prime Money Market                             2:00 p.m. Closed                   
       
      *JPMorgan                                             2:00 p.m.                 Closed                   
      Prime Money Market
       
      *Morgan Stanley                                   2:00 p.m.                 Closed                   
      Institutional Liquidity Gov Portfolio                                                                                   
      Institutional Liquidity Prime Portfolio
       
      RBC                                                        1:00 p.m. Closed                   
      Prime Money Market
       
      SSgA                                                      2:30 p.m. Closed                   
      Prime Money Market Portfolio
       
      State Street                                            2:30 p.m.                 Closed                   
      Institutional Liquid Reserves                                                                              
       
      UBS                                                        2:30 p.m. Closed                   
      Select Prime
      Select Treasury
       
      Wells Fargo                                           2:00 p.m.                 Closed                   
       Advantage Heritage Money Market Fund                                         
       
      *Same closing time for all funds unless otherwise noted.
      **Fund closing times are subject to change.
       
      No IEF2 purchases / redemptions will be allowed on Monday, December 26, 2011.
       
      INTEREST EARNING FACILITY 3; 4; 5 (IEF3/IEF4/IEF5)
      IEF3/IEF4/IEF5 processing will follow the usual schedule coinciding with regular banking activity for Friday, December 23, 2011.
       
      No IEF3/IEF4/IEF5 purchases / redemptions will be allowed on Monday, December 26, 2011.
       
      If you have questions on financial operational deadlines, please call the Financial Unit at (312) 207-2594. 
       
                                      INTER-EXCHANGE PROCESSING
      There will be an AM and PM Inter-Exchange processing cycle on Friday, December 23, 2011.
       
      On Monday, December 26, 2011, there will be an AM Inter-Exchange cycle only. There will be no PM cycle. The deadline to submit trades to the AM Inter-Exchange processing cycle on Monday, December 26, 2011, is 7:00 a.m. Normal Inter-Exchange processing will resume on Tuesday, December 27, 2011.  For any SGX related issues, please call (312) 207-2525.
      Effective today Chapter IV of the Clearing House Manual of Operations is revised as follows (Additions underscored; deletions stricken) :
      Allocate and Claim System (ACS)
      ACS allows executing clearing member firms to give up (allocate) trades at the execution price to the designated carrying firm(s) through FEC.
       
      A trade executed on behalf of a customer for give-up to a carry firm remains the responsibility of the executing firm until that trade is claimed by the carrying firm.
      Note:For NYMEX and COMEX trades, floor brokers directly allocate trades on behalf of the customers into their perspective clearing firms.

      Per Nymex Rule 984.A.1 and 2, states that a clearing firm is obligated to accept a customer order when allocated by a broker (PCM) provided that the order did not exceed pre-established limits or that the order was not erroneously executed by the broker
      NYMEX Rule 984 addresses clearing member and executing broker responsibilities and obligations with respect to customer transactions given up to a clearing member for clearing. (See also, SER-6041.)
       

       

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2025 CME Group Inc. All rights reserved.