• IRS New Release Enhancement Advisory

      • To
      • Clearing Member Firms; Back Office Managers
      • From
      • CME Clearing
      • #
      • 13-497
      • Notice Date
      • 24 October 2013
      • Effective Date
      • 24 October 2013
    • Please be advised that CME Clearing has deployed the following enhancement to the New Release environment yesterday, October 23th:
       
      Clearing Workflow for Pre-approved IRS Trades
       
       
      ·        All IRS trades that have been pre-approved by the FCM will not be routed to the FCMs for consent.  FCMs will no longer have the ability to accept or reject trades that have been pre-approved using CME’s consent workflow.
       
      If a trade has been pre-approved by the FCM, the submission message to CME shall contain a “pre-approval flag”, as shown below.  If the trade has NOT been pre-approved by the FCM, this field shall not be present on the incoming message.
       
       
      This flag will be defined at the Side Level, as shown below:
       
                              <RptSide ClOrdID="BA21TW36IRS" CustCpcty="4" InptSrc="TWD" MLegRptTyp="1" SesSub="X" Side="2"RiskChkStat="13">
                                          <Pty ID="TESTTWBC7I" R="24" Src="D"/>
                                          <Pty ID="ace" R="7"/>
                                          <TrdRegTS TS="2013-10-21T15:32:24-00:00" Typ="1"/>
                              </RptSide>
                              <RptSide ClOrdID="SA21TW36IRS" CustCpcty="4" InptSrc="TWD" MLegRptTyp="1" SesSub="X" Side="1"RiskChkStat="13">
                                          <Pty ID="TESTTWBHI" R="24" Src="D"/>
                                          <Pty ID="123_jpm" R="7"/>
                                          <TrdRegTS TS="2013-10-21T15:32:24-00:00" Typ="1"/>
                              </RptSide>
                  </TrdCaptRpt>
      </FIXML>
       
       
      Ø Please note that the Risk Check Status field will not be present on Clearing Confirmation messages, in order to avoid impacts to Clearing Firms.
       
      A platform submission message sample, containing the Risk Check Status field, is currently available on the CME IntraLinks site.
       
      Please contact the CME Client Services Team at onboarding@cmegroup.com or 312.338.7712 with any questions/concerns.

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