• CME Clearing Notice: Monday, May 12, 2014

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      • Clearing Member Firms
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      • CME Clearing
      • #
      • 14-193
      • Notice Date
      • 16 May 2014
      • Effective Date
      • 16 May 2014

    • NOTICE #: 14-193

      SUBJECT: CME Clearing Notice: Monday, May 13, 2014

      Topics in this issue include:

           Critical System Updates

      ·        FECPlus Migration Phase 2: Electronic Trade Management (ETM)

      ·        True Average Price Indicator on Sub-Allocations

           Deliveries

      ·        CME Group Delivery Dates for May 2014

      ·        Euro-Denominated Deliverable Interest Rate Swap Futures Testing and Delivery Intent Template Requirements

      ·        2014 Approved List of Live Cattle Stockyards & Slaughter Plants

      ·        NEW:  FX Futures Delivery Process:  Migration & Processing Timelines

           Events & Announcements

      ·        2nd Quarter 2014 Eligible Stocks (Data from January 2nd to March 31st, 2014)

      ·        Announcing the CME Collateral API

      ·        Contact Information

       

      Critical System Updates

      FECPlus Migration Phase 2: Electronic Trade Management (ETM)

      The next phase of the FECPlus migration, Electronic Trade Management (ETM), is now underway. With this migration, all electronic trades for all CME Group markets will now display in FECPlus. Pit trades, manually entered Ex-Pit trades, and Transfers will not be affected and will continue to be available in FEC Classic.  

      We are tentatively scheduling a launch date for ETM migration in mid-July, 2014. Please click here for further details.

      True Average Price Indicator on Sub-Allocations

      Please be aware that beginning June 1, 2014, for trade date June 2, 2014, a new FIXML tag will be added to Allocation Instruction Alerts and Allocation Reports. The new tag, @TrueAvgPx, will only be present when an average priced claimed allocation is sub-allocated as a give-up. It will not be present when an average priced claimed allocation is sub-allocated to the average price system. This tag represents the True Average Price without rounding, which is not currently populated anywhere on these type of messages. This tag will begin populating in the New Release environment on May 21, 2014.

      The @TrueAvgPx tag will be an interim solution. At a later date, as determined by the CMEGroup, with input from firms and service providers, the @RndPx and @AvgPx will be populated on all Allocation Instruction Alerts and Allocation Reports where:

      • @AvgPX becomes the true average price in the case of APS, or the normal give-up price in the case of a give up. Currently this is the allocation price rounded to the exchange tick convention for the contract.
      • @RndPX becomes the allocation price rounded, if necessary, to the valid tick increment, or the normal give-up price in the case of a give up. Currently this is the true average price and is only present in APS messages.

       

      If you have any questions or require further information please contact CME Clearing Services (CCS) at 312-207-2525 or email  ccs@cmegroup.com.

      http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv14-173.pdf

      Deliveries

      CME Group Delivery Dates for May 2014

      Listed at this link are the relevant delivery dates for the May 2014 Chicago Mercantile Exchange Inc., Chicago Board
      of Trade, NYMEX, COMEX, and DME contracts.

      Euro-Denominated Deliverable Interest Rate Swap Futures Testing and Delivery Intent Template Requirements

      Please be advised that for the new Euro-denominated Deliverable Swap Futures (http://www.cmegroup.com/trading/interest-rates/deliverable-interest-rate-swap-futures.html) delivery testing is now available for the June 2014 contracts in the New Release environment. FCMs wishing to test should contact CME Clearing Deliveries to coordinate at 312-930-3172 or clearinghousedelivteam@cmegroup.com. For further details, please click here.

      2014 Approved List of Live Cattle Stockyards & Slaughter Plants

      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.

      See the full advisory.

      If there are any questions, please contact the Deliveries Unit at (312) 930-3172.

      NEW:  FX Futures Delivery Process:  Migration & Processing Timelines

      Beginning with the June 2014 FX futures delivery cycle, there will be an operational change to the delivery process. A new paired delivery process will be introduced for a subset of CLS-eligible currency pairs. This operational change will not impact the duties of clearing members during currency deliveries or the CME Clearing guarantee of financial performance during the delivery process as outlined in Rule 702. There will be no change to the delivery process for non-CLS currencies.

      http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv14-189.pdf

      Events & Announcements

      2nd Quarter 2014 Eligible Stocks (Data from January 2nd to March 31st, 2014)

      At this link please find information on eligible stocks for performance bond collateral for 2nd Quarter 2014.

      Announcing the CME Collateral 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.

      The first phase of the API is available now and uses CSV-format datafiles (You send CME a file, and get a file back). The specification can be found at:

      http://www.cmegroup.com/clearing/risk-management/files/cme-collateral-api-csv.pdf

      http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv14-175.pdf

      Contact Information

      CME Group Contacts

      cmegroup.com Inquiries

      Customer Service

      (800) 331-3332

      General Information

      Products & Services

      (312) 930-8213

      Clearing House

      (312) 207-2525

      CME Globex Information

      CME Global Command Center

      Global Account Management

      U.S.

      (800) 438-8616

      Europe

      +0800 898 013

      Asia

      +65 6532 5010

      Performance Bond Information

      Risk Management Dept.

      (312) 648-3888

      Position Limits

      Market Regulation

      (312) 341-7970

      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

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
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