• CME Clearing Notice: Monday, February 3, 2014

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      • Clearing Member Firms
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      • CME Clearing
      • #
      • 14-063
      • Notice Date
      • 07 February 2014
      • Effective Date
      • 07 February 2014

    • Topics in this issue include:
      *      Deliveries
      ·         Contact Information
       
      Please be reminded that beginning trade date February 10, 2014, FIXML messages will contain new Regulatory Trade ID blocks containing Unique Trade Identifiers (UTI’s). The RegTrdID block will be present on real-time Trade Capture Reports and Allocation Reports. RegTrdID blocks will also be present in Trade Register files, on Trade Capture Reports, and eligible Position Reports.
      These UTI’s will be used for European Trade Repository (ETR) reporting from Clearing Business Date February 12, 2014 processing and going forward. 
      For the full description of UTI usage for CME Clearing US, please refer to Clearing Advisory 14-023.
      For questions or further information, please contact CME Clearing Services (CCS) at 312-207-2525 or ccs@cmegroup.com.
      Deliveries
       
      Listed at this link are the relevant delivery dates for February 2014 Chicago Mercantile Exchange Inc., Chicago Board of Trade, NYMEX, COMEX, and DME contracts.
      The listed Stockyards and Slaughter Plantsat this linkhave been approved for deliveries against the CME Group Live Cattle futures contract from February 1, 2013 through January 31, 2014. Delivery point information and contact numbers are listed for your reference.
      If there are any questions, please contact the Deliveries Unit at 312.930.3172.
      The attached Stockyards and Slaughter Plants have been approved for deliveries against the CME Group Live Cattle futures contract from February 1, 2014 through January 31, 2015. Delivery point information and contact numbers are listed for your reference.
      If there are any questions, please contact the Deliveries Unit at (312) 930-3172.
      Please be advised in coordination with the USDA and CME approved stockyards, the following live cattle grading capacity limits at stockyards are in effect beginning with the February 2014 live cattle delivery cycle. The capacity limits at the stockyards have been instituted to ensure stockyards have the wherewithal to grade cattle on eligible delivery days and a USDA grader is available for grading the cattle. The capacity limits are not static and are subject to change based on changes such as stockyard wherewithal or USDA grader availability.
      Events & Announcements
       
      Please note the holiday processing schedule at this link for Monday, February 17, 2014 in observance of President’s Day.
      Please click here to view an advisory on the above topic. The list of 1st Quarter 2014 Eligible Stocks can be found at this link.
      Effective Thursday, January 30, 2014, for trade date Friday, January 31, 2014, and pending all relevant CFTC regulatory review periods, please be advised that the New York Mercantile Exchange, Inc. (EXCHANGE) will change the Floating Price reference and the names of the products listed below on CME Globex, Open Outcry and available for submission for clearing on CME ClearPort.
      Clearing/Globex code: A8/AA8
      ·          Current Product name: Group Three Unleaded Gasoline (Platts) vs. RBOB Futures
      ·          New Product name: Group Three Sub-octane Gasoline (Platts) vs. RBOB Futures
      ·          Current Floating Price: The Floating Price for each contract month is equal to the arithmetic average of Platts Group Three Unleaded Gasoline mean minus the NYMEX RBOB Gasoline Futures first nearby contract month settlement price for each business day that both prices are determined during the contract month.
      For purposes of determining the Floating Price, the Platts Group Three Unleaded Gasoline mean will be rounded each day to the nearest thousandth of a cent.
      ·          New Floating Price: The Floating Price for each contract month is equal to the arithmetic average of Platts Group Three Sub-octane Gasoline mean minus the NYMEX RBOB Gasoline Futures first nearby contract month settlement price for each business day that both prices are determined during the contract month. For purposes of determining the Floating Price, the Platts Group Three Sub-octane Gasoline mean will be rounded each day to the nearest thousandth of a cent.
      Clearing/Globex code: A9/AA9
      ·          Current Product name: Group Three Unleaded Gasoline (Platts) Futures
      ·          New Product name: Group Three Sub-octane Gasoline (Platts) Futures
      ·          Current Floating Price: The Floating Price for each contract month is equal to the arithmetic average of the Platts Group Three Unleaded gasoline mean for each business day that the Floating Price is determined during the contract month.
      ·         New Floating Price: The Floating Price for each contract month is equal to the arithmetic average of the Platts Group Three Sub-octane gasoline mean for each business day that the Floating Price is determined during the contract month.
      Beginning with the February 2014 contract, the New York Mercantile Exchange is revising the expiration rule for the Mini Argus Propane (Saudi Aramco) Futures (Clearing/Globex Code MAS), from "the last business day of the contract month" to "the last business day of the month prior to the contract month". The new termination schedule will be the same as the big contract, Argus Propane (Saudi Aramco) Futures (9N), after revision.
      In addition, the New York Mercantile Exchange is revising the expiration rule for the Argus Propane (Saudi Aramco) Futures (Clearing/Globex Code 9N), from “the last business day of the month prior to the contract month” to “the last business day of the month prior to the contract month. Business days are based on the Singapore Public Holiday calendar”.
      See the full advisory.
      CME currently administers three different guaranty funds for IRS, CDS, and “Base” products. In conjunction with the new CFTC Regulation 39.33, CME plans to amend the types of collateral eligible to meet guaranty fund requirements in an effort to align composition with the CFTC’s definition of qualifying liquidity resources.
      Pending regulatory review, effective April 1, 2014, the following asset types will be acceptable collateral for any CME Clearing guaranty fund. 
      Acceptable Guaranty Fund Collateral
      • USD cash
      • U.S. Treasury Bills/Notes/Bonds *
      * (Time to maturity not to exceed 10 years)
      For more information, please contact CME Clearing Financial Unit at 312-207-2594 or CME Clearing Risk Unit at 312-648-3888.
      Recently, CME Group began accepting morning position adjustments via a morning PCS file. This allows for an automated solution, where traditionally, morning position adjustments were executed only via the CME Group Positions User Interface.
      Messages within the new file should be in the same format as the nightly PCS file, and may be submitted even if there has been no change in position. The only difference between the nightly file and the morning file, other than possible quantity differences, is the name of the file itself. The naming convention for the morning PCS file is:
      PCSADJ.CMF_xxx.xml, where “xxx” is the firm number submitted in the nightly file.
      CME Group will accept files with a BizDt representing either the current (morning) or prior (most recent night cycle) Clearing Business Date. This means that, other than the file name, the standard PCS process may be used to create the morning adjustment file, with one exception: current day’s trades may not be included in the PCS positions reported in the new adjustment file, while as-of trades should be included in the file. A step should be added to the beginning of the standard process to remove the new day’s trades (but not as-of trades) if they exist. 
      CME Group Contacts
      cmegroup.com Inquiries
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      Global Account Management
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      Risk Management Dept.
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      Position Limits
      Market Regulation
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      Clearing Fees
      Clearing Fee Hotline
      (312) 648-5470
      Risk Management
      Risk Management Hotline
      (312) 634-3888
      Collateral
      Financial Unit Hotline
      (312) 207-2594
      Deliveries
      Deliveries Unit
      (312) 930-3172
      Clearing Customer Service
       
      (312) 207-2525
       

       
       

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