• CME Clearing Notice: Monday, July 23, 2012

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      • Clearing Member Firms; Back Office Managers
      • From
      • CME Clearing
      • #
      • 12-315
      • Notice Date
      • 26 July 2012
      • Effective Date
      • 23 July 2012

    • Topics in this issue include:
      *      Deliveries
      ·         Contact Information
       
      Critical System Updates
      Please note that at firm requests, we are adding a new field, the Trade Management Firm ID (also known as the TMF) to the CME and CBT Summary Trade Register (POS593) reports.
      The TMF can be thought of as the primary firm number used for managing trades posted to a specific position account for products of a particular exchange. The new field appears below the exchange on the left hand side of the report. For example: TMF: 123. This is the same value that is provided on the FIXML Trade Register report as party role 1.
      Note that only the print report is affected. The FIXML Trade Register file is not altered in any way.
      The new field will be available on the POS593 for CME and CBT in New Release for testing on Thursday, July 26th and available for viewing on the Enterprise Reporting Portal (EREP). It will be added to the production version of the report on Monday, July 30th.
      If there are any questions, please contact CCS at (312) 207-2525 or via email at ccs@cmegroup.com.
      As previously stated in Clearing House Advisory 12-225, dated May 29, 2012, the European Commission announced the full activation of the EU Emissions Trading Scheme single registry and the Union Registry transition period for the migration of accounts from national registries into a Union Registry. The Union Registry transition period is scheduled for the period beginning June 3, 2012 through June 20, 2012.
      Although, the single registry is scheduled to be activated on June 20, the single registry will not contain all the required functionalities at that time. Transactions through the registry will be subject to a 26-hour delay. That delay will not be applicable to new account types (Trading Accounts) if they are included in a list of “trusted accounts”. According to the Union Registry, a full timetable will be communicated by July 15 with final date of implementation of delivery procedures scheduled for mid-September 2012.
      Effective immediately, GreenX will delist theSeptember 2012 contract month for its EUA, CER and ERU contracts. In addition, the Daily EUA contracts will remain delisted through contract day September 28, 2012. The contracts which will be delisted in accordance with the table below have no open interest.
      Contract
      CME Globex Code
      CME ClearPort Code
      Delisted Contracts
      Daily European Union Allowance (EUA) Futures
      EUL
      EUL
      Through contract day September 28, 2012
      In Delivery Month (IDM) EUA Futures
      EAF
      6T
      Contract month September 2012
      Daily European Union Allowance (EUA) Futures
      EUL
      EUL
      Through contract day September 28, 2012
      IDM EUA Options
      EAX
      6U
      Contract month September 2012
      IDM CER Options
      CRY
      6P
      Contract month September 2012
      Emission Reduction Unit (ERU) Futures
      REU
      REU
      Contract month September 2012
      ERU Options
      ERO
      ERO
      Contract month September 2012
      These actions do not affect trading in any other futures or options products listed on CME Group.
      If there are any questions, please contact:
      Managing Director, Global Product Development
      Henrik Hasselknippe
      Tel: +44 20 7464 4182
      E-mail: henrik.hasselknippe@thegreenx.com

      Compliance Officer
      Nicholas Galati
      Tel: +1 212 299 2569
      E-mail:       nicholas.galati@thegreenx.com
      UPDATED: FECPlus Testing and Production Deployment Schedule
      CME Clearing will postpone several FECPlus implementation dates in order to allow time for additional testing. Following is the UPDATED deployment schedule for FECPlus in chronological Order:
      ·         Testing for ALL post-trade processing, including give-ups, average-priced give-ups, and cross-exchange allocations, using the FPL-compliant FIXML 5.0 API, is currently available in New Release.
       
      ·         Testing for the migration of CME ClearPort trades to FECPlus for CME Clearing Europe (CMECE) is currently available in the CMECE Certification Test Environment (CMECE CERT). NO API messaging changes for these trades.
       
      ·         Testing for the migration of CME ClearPort and other Trading Platform trades to FECPlus for CME/CBT/NYMEX/COMEX is currently available in the Certification Test Environment (CERT). NO API messaging changes for these trades.
       
      ·         Thursday, June 28, 2012: Testing for the migration of CDS and OTCFX trades to FECPlus will begin in New Release. NO API messaging changes for these trades.
       
      ·         Monday, July 2, 2012: Production launch date for migration of CME ClearPort trades to FECPlus for CMECE. NO API messaging changes.
       
      ·         Monday, July 30, 2012: Production launch date for migration of CME ClearPort and other Trading Platform trades to FECPlus for CME/CBT/NYMEX/COMEX, including CDS and OTCFX. NO API messaging changes.
       
      ·         Tentatively scheduled for Mid-July: Testing for the migration of ALL post-trade processing to FECPlus for CMECE will begin in CMECE CERT using the FPL-compliant FIXML 5.0 API. At least one month of test time will be provided prior to launch.
       
      ·         Tentatively scheduled for Late August: Production launch date for migration of ALL post-trade processing to FECPlus for CMECE using the FPL-compliant FIXML 5.0 API.
       
      ·         Tentatively scheduled for Early October: Production launch date for migration of ALL post-trade processing, including give-ups, average-priced give-ups, and cross-exchange allocations to FECPlus for CME/CBT/NYMEX/COMEX using the FPL-compliant FIXML 5.0 API.
      If you have any questions or require further information please contact CME Clearing at 312-207-2525 or ccs@cmegroup.com.
      Please be advised that beginning Thursday, July 19th in New Release and July 30th in Production the below FIXML tags will be present in OTC FX trade confirms. Please see our bookkeeping specs for further detail: http://www.cmegroup.com/clearing/files/Clearing-Forwards.pdf.
      Fixing Date:
      The date on which CME Clearing determines the spot fixing price used to calculate the final mark to market amount.
      • <Evnt EventTyp="13" Dt="2012-07-24"/> <Evnt EventTyp="121" Dt="2012-07-24"/>
      Value Date:
      The date on which CME Clearing banks the final mark to market amount.
      • <Evnt EventTyp="121" Dt="2012-07-26"/> <Evnt EventTyp="13" Dt="2012-07-26"/>
       
      If you have any questions please contact CME Client Services at 312.338.7112 or onboarding@cmegroup.com.
       
      This link provides the stockyards and slaughter plants that have been approved for deliveries against the CME Group Live Cattle futures contract from February 1, 2012 through January 31, 2013. Delivery point information and contact numbers are listed for your reference.
      This link provides the relevant delivery dates for July 2012 Chicago Mercantile Exchange Inc., Chicago Board of Trade, New York Mercantile Exchange, Dubai Mercantile Exchange, COMEX and GreenX contracts.
       
       
      Effective Sunday, July 22 (trade date Monday, July 23), the listing cycle for the 4-Year Eurodollar Mid-Curve options will be expanded by adding the following serial months:
      •       August 2012
      •       October 2012
      The product code is:
      Product
      Clearing Ticker Symbol
      Clearing Code
      4-Year Eurodollar Mid-Curve Options
      E4
      E4
       
      As part of CME Clearing’s efforts to offer consistency across CME Clearing’s OTC offerings, CME Clearing has updated the end of day cutoff timelines as reflected in the table below in the New Release Environment. These changes are effectiveinNew Release immediately.
      CME Clearing plans to implement these changes in the Production Environment effective at end of day on August 13th, 2012.CME Clearing plans to release additional information related to this change in advance of the August 13th production date, including an updated CME Cleared OTC CDS Operational Timeline & Report List.
       
      This advisory details new reporting requirements for FCMs stemming from certain CFTC regulations going into effect on November 8, 2012. There are two inter-related functional areas: Customer Gross Margining (CGM) and LSOC (Legally Segregated, Operationally Commingled). Customer Gross Margining will apply both to products which are under the futures regulatory regime and to products which are classified as cleared swaps for regulatory purposes. LSOC will apply only to cleared swaps customer accounts.
       
      The CME Clearing House will be providing two additional training sessions for the FEC+ ITP release ahead of the FECPlus ITP Production Release, scheduled for trade date Monday July 30, 2012.
      The training sessions will be available at the following times:
      Friday July 27th 10:00am – 11:00am
      Friday July 27th 2:30pm – 3:30pm
      The training sessions will be held in the Trading Knowledge Center at 141 W. Jackson, 2nd floor (South end of the building). Participants who do not already have access to the building will need to check in at the Security Desk in the lobby.
      To be added to the training class roster, please contact the CME Group Global Operations Education department at globaloperationseducation@cmegroup.com. Please include the names of attendees and the session you wish to attend.
      For questions regarding FECPlus training for CDS and OTCFX, contact the CME Client Services Team at 312-338-7112 or onboarding@cmegroup.com.
      For questions or further information please contact CME Clearing at 312-207-2525 or ccs@cmegroup.com.
       
      Earlier today, July 23, 2012, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) delisted the following tanker freight contracts:
      Contract
      Code
      Rule Chapter
      Freight Route TC1 (Platts) Swap Futures
      TG
      680
      Freight Route TC4 (Platts) BALMO Swap Futures
      V9
      309
      Freight Route TD10D (Baltic) Swap Futures
      TO
      688
      Freight Route TD9 (Baltic) Swap Futures
      TN
      687
      There was no open interest in these contracts.
      The respective rule chapters and terms and conditions contained in the Position Limit, Position Accountability and Reportable Level Table located in the Interpretations and Special Notices Section of Chapter 5 of the NYMEX Rulebook were removed from the Exchange rulebook.
      NYMEX continues to list eight tanker freight swap futures and three tanker freight average price options. Details of these active products can be found at www.cmegroup.com.
       
      Earlier today, July 23, 2012, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) delisted the following tanker freight contracts:
      Contract
      Code
      Rule Chapter
      Freight Route TC1 (Platts) Forward
      FPA
      950
      Freight Route TC12 (Baltic) Forward
      FRB
      530
      Freight Route TC2 (Baltic) Forward
      FC2
      953
      Freight Route TC4 (Platts) Forward
      FC4
      951
      Freight Route TC5 (Platts) Forward
      FC5
      952
      Freight Route TC6 (Baltic) Forward
      FC6
      954
      Freight Route TD10 (Baltic) Forward
      FDD
      959
      Freight Route TD3 (Baltic) Forward
      FT3
      955
      Freight Route TD5 (Baltic) Forward
      FT5
      956
      Freight Route TD7 (Baltic) Forward
      FT7
      957
      Freight Route TD9 (Baltic) Forward
      FB9
      958
      There was no open interest in these contracts.
      The respective rule chapters and terms and conditions contained in the Position Limit, Position Accountability and Reportable Level Table located in the Interpretations and Special Notices Section of Chapter 5 of the NYMEX Rulebook were removed from the Exchange rulebook.
      NYMEX continues to list eight tanker freight swap futures and three tanker freight average price options. Details of these active products can be found at www.cmegroup.com.
      CME Group Contacts
      cmegroup.com Inquiries
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      Global Account Management
      U.S.
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      Europe
      44 203 379 3754
      Asia
      65 6593 5574
      Performance Bond Information
      Risk Management Dept.
      (312) 648-3888
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      Market Regulation
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      Clearing Fee Hotline
      (312) 648-5470
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      Risk Management Hotline
      (312) 634-3888
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      Financial Unit Hotline
      (312) 207-2594
      Deliveries
      Deliveries Unit
      (312) 930-3172
      Clearing Customer Service
       
      (312) 207-2525
       

       

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