• CME Clearing Notice: Monday, May 19, 2014

      • From
      • CME Clearing
      • #
      • Clearing Member Firms
      • Notice Date
      • 23 May 2014
      • Effective Date
      • 23 May 2014

    • Topics in this issue include:

            Critical System Updates

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

      ·         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

      ·         FX Futures Delivery Process:  Migration & Processing Timelines

            Events & Announcements

      ·         NEW: REVISED HOLIDAY SCHEDULE Memorial Day May 26th, 2014

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

      ·         Announcing the CME Collateral API

      ·         Contact Information

       

      Critical System Updates

      NEW: FECPlus Migration Phase 2: Electronic Trade Management (ETM) *UPDATE*

      Testing
      Firm testing for the ETM migration has been rescheduled for Wednesday, May 28, 2014. The testing will be done in the Certification environment (CDC5) exclusively.

      Please be aware that, while ETM testing is underway, it will take priority over any other non-ETM Certification or New Release region testing that firms or vendors might be conducting during this time.

      Training
      CCS will host training for new users of FECPlus in Chicago and New York as well as online. The Chicago sessions will be held every Thursday at 11 A.M. beginning May 29, 2014, in the trading knowledge center located on the 2nd floor of the CBOT building. Anyone who currently has access to the floor will have access to this room. Please contact CCS@CMEGroup.com by the Tuesday before each session if you plan on attending so we can get a head count for each class. We will be sending out details for our New York class in the future.

      If firms are looking for an online demo please contact us at CCS@CMEGroup.com to setup a time.

      Industry Conference Call
      Beginning Wednesday, May 21, 2014, we will resume the weekly FECPlus Operations Forum conference calls with Clearing Firms and Vendors to allow for timely feedback and information sharing. This will be a weekly call every Wednesday beginning at 11 A.M.  We will utilize the same email list we used for the last FEC+ launch. If you would like to be added please email the CCS team. Call-In details are as follows:

      ·         Call-in number            (877)979-3898

      ·         Access Code              3894456

      Operational Changes
      Please note there will be no changes to API messaging.

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

      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.

      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

      NEW: REVISED HOLIDAY SCHEDULE Memorial Day May 26, 2014

      Please not the linked holiday processing schedule for Friday, May 23, 2014 through Monday, May 26, 2014 in observance of Memorial Day.

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

       

       

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