Announcing the CME Collateral Services API

CME is pleased to announce the availability of the first phase of our Collateral Services API, both in production and in the New Release testing environment.

The API is intended to provide clearing firms with processing efficiencies by automating their interaction with CME Clearing for collateral transactions such as deposits and withdrawals of cash or securities. The value of such efficiencies for member firms has increased together with the number of daily collateral transactions.

For example, if a firm intends to deposit a Treasury note. It sends a message so indicating. CME will then send a message back stating, “we’ve received your request, it is valid, please stand by.” Then, after the receipt of the security is confirmed, CME will send a second message, indicating that the security has been received and that the firm now has margin credit for it. The process for a withdrawal is analogous.

For more information please contact CME Clearing’s Financial Unit at 312-207-2594 or chfin@cmegroup.com.

For the full text of the advisory, click here

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