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CME Clearing Notice: Monday, June 2, 2014
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- To
- Clearing Member Firms
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- From
- CME Clearing
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- #
- 14-219
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- Notice Date
- 06 June 2014
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- Effective Date
- 06 June 2014
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Topics in this issue include:
· NEW: Update: True Average Price Indicator on Sub-Allocations
· NEW: FIXML Settlement Price Files for Futures, Options and Forwards Upgrade Coming June 23, 2014
· NEW: Update; High-Precision Risk Arrays for Margining Small Contracts
· NEW: Auto-exercise for API Coal Options on Strips
· NEW: USD and EUR Interest Rate Swap Futures – Delivery Process
· CME Group Delivery Dates for June 2014
· 2014 Approved List of Live Cattle Stockyards & Slaughter Plants
· NEW: Product Modification Summary: Center Point Natural Gas Contracts
· Announcing the CME Collateral API
Critical System Updates
NEW: Update: True Average Price Indicator on Sub-Allocations
Please be informed that the True Average Price Indicator release is being pushed back one week. The new go live date will be Sunday, June 8, 2014 for trade date Monday, June 9, 2014.
For more details on this release please see our previous notice 14-173.NEW: FIXML Settlement Price Files for Futures, Options and Forwards Upgrade Coming June 23, 2014
Beginning trade date June 23, 2014, newly formatted FIXML Settlement Price files will replace the current versions for Futures, Options, and Forwards Settlement Price files. CDS FIXML Settlement Price files will not change in any way at this time. For more information, please click here.
NEW: Update; High-Precision Risk Arrays for Margining Small Contracts
Please click here for an update advisory supplementing Clearing Advisory Notice 14-142, “High-Precision Risk Arrays for Margining Small Contracts.” We have also provided a link to original advisory notice 14-142 below:
http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv14-142.pdf
NEW: Auto-exercise for API Coal Options on Strips
Effective starting with the July 2014 expirations, and pending all relevant CFTC regulatory review periods, please be advised that the New York Mercantile Exchange, Inc. (NYMEX or EXCHANGE) will introduce auto-exercise on expiry on the below listed option products.
Additionally:
- Expiration time will change from 15:00 London time to 17:00 London time
· For the expiry/exercise/assignment process to occur during the London business day CME Group will use the end-of-day coal market data published by the London Energy Brokers Association (‘LEBA’) as the price reference.
· The proposed expiration day timetable is:
o 17:00 London time (11:00 CT): cessation of trading of expiring contracts;
o 17:45 London time (11:45 CT): by this time, third party (LEBA) data received;
o 18:00 London time (12:00 CT): by this time, at-the-money cut off applied to open positions;
o 18:00 London time (12:00 CT): contra-instruction deadline;
18:30 London time (12:30 CT): announce OTM exercise / ITM abandon submissions.
http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv14-210.pdf
Deliveries
NEW: USD and EUR Interest Rate Swap Futures – Delivery Process
Please be advised that the delivery process and schedule at this link will be in effect for the June 2014 delivery cycle. All times are Central Standard Time unless otherwise noted.
CME Group Delivery Dates for June 2014
Listed at this link are the relevant delivery dates for the June 2014 Chicago Mercantile Exchange Inc., Chicago Board
of Trade, NYMEX, COMEX, and DME contracts.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.
Events & Announcements
NEW: Product Modification Summary: Center Point Natural Gas Contracts
Please click here for information on changes to Center Point Natural Gas Contracts, effective Sunday, June 15, 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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