Topics in this issue include:

      Critical System Updates

·         NEW- Trade Management Firm (TMF) Addition to Summary Trade Register Report

·         Delisting of September 2012 Contract Months for Six Emissions Futures and Options Contracts and Contract Days through September 28, 2012 for the Daily Emission Contract

·         UPDATED: FECPlus Testing and Production Deployment Schedule

·         NEW – CME OTC FX Trade Confirms – Fixing Date/Value Date FIXML Tags

      Deliveries

·         List of Live Cattle Stockyards and Slaughter Plants

·         CME Group Delivery Dates for August, 2012

      Events & Announcements

·         NEW – Green Exchange Product Migration to NYMEX August 27, 2012:

·         NEW:  Reminder:  FECPlus ITP Production Release (CPC and Platform Trades) Production Launch:

·         NEW:  Trade Register Improvement for CME’s USDRMB Futures Contract

·         Change in End of Day Cutoff Timelines for CDS

·         New Reporting Requirements Regarding Gross Customer Margining

·         NEW - FECPlus ITP Release (CPC and Platform Trades) Additional Training Sessions

·         NEW Product Release- Cleared OTC London Silver Forward (Cash Margin) Contract

·         NEW – Product Release – Mini 1% Fuel Oil Cargoes FOB MED (Platts) Swap Futures/Mini 3.5% Fuel Oil (Platts) Cargoes FOB MED Calendar SWAP Futures

·         Contact Information

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 the September 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.

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

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 19^th in New Release and July 30^th 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 August 2012 Chicago Mercantile Exchange Inc., Chicago Board of Trade, New York Mercantile Exchange, Dubai Mercantile Exchange, COMEX and GreenX contracts.

As previously announced CME Group will be migrating all GreenX products to a CME Group exchange, delisting them from the Green Exchange and listing them on NYMEX. The date of this migration will occur on Saturday morning August 25^th for business date Monday, August 27^th.

The sole impact of this change to clearing and bookkeeping systems is that the exchange acronym of the various products will change from GEX to NYMEX.  There are no product code changes, firm change or other impacts.  There will cease to be a separate Green Exchange settlement price file, and the daily SPAN files will no longer contain data for a separate Green Exchange.                                                   

The change was made effective in the New Release testing environment on June 18th to enable firms to test their systems with this change. For more information please contact CME Clearing Operations at (312)-207-2525 or via email to ccs@cmegroup.com .

As a reminder, the FECPlus ITP Production Release is scheduled for trade date Monday, July 30, 2012.  The ITP Release will consist of migrating trade management of ClearPort (CPC) trades and other Trading Platform trades (including CDS/OTCFX and ERIS) from FEC to FECPlus.  There are no API messaging changes in this release.

Testing for this release is available in both testing environments.

·    Testing for the migration of ClearPort and other Trading Platform trades to FECPlus for CME/CBT/NYMEX/COMEX is currently available in the Certification (CERT) test environment.  NO API messaging changes for these trades.

·    Testing for the migration of CDS and OTCFX trades to FECPlus is currently available in the New Release test environment.  NO API messaging changes for these trades.

For questions regarding FECPlus 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.

On Monday, October 15, 2012, CME will introduce an important enhancement to the clearing processing for its USDRMB futures contract – the USD Renminbi future with USD banking. 

This is the CNY contract where the contract size is 100,000 USD, the price is quoted in CNY (Chinese Renminbi Yuan) per US dollar, and the settlement variation amounts are converted from CNY back to USD by dividing by the current spot exchange rate between CNY and USD.

Currently, the trade register report and datafile for this product provide values in CNY. With the change, the values will be provided in USD, and attributes will be provided to drive the conversion of the variation amounts from one currency to another. 

The goal is of this enhancement is to simplify bookkeeping processing and reconciliation for clearing firms.  This methodology will be applied to other products in the future.

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 effective in New Release immediately.

CME Clearing plans to implement these changes in the Production Environment effective at end of day on August 13^th, 2012. CME Clearing plans to release additional information related to this change in advance of the August 13^th production date, including an updated CME Cleared OTC CDS Operational Timeline & Report List.

http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv12-287.pdf

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.

http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv12-139.pdf

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 27^th 10:00am – 11:00am

Friday July 27^th 2:30pm – 3:30pm

The training sessions will be held in the Trading Knowledge Center at 141 W. Jackson, 2^nd 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.

This link provides the advisory notice reflecting the additional OTC FX Product Released beginning Monday, August 6^th, 2012

 This link provides the advisory notice reflecting the additional OTC FX Product Released beginning Monday, August 6^th, 2012