• CME Clearing Notice: Monday, June 23, 2014

      • To
      • Clearing Member Firms
      • From
      • CME Clearing
      • #
      • 14-264
      • Notice Date
      • 27 June 2014
      • Effective Date
      • 27 June 2014

    • Topics in this issue include:

            Critical System Updates

      ·         New Alternate ID Source (AltIDSrc) on Some CME Globex TrdCaptRpts Coming Trade Date June 23, 2014

      ·         CME-CH.COM migration to CME CORE

      ·         FIXML Settlement Price Files for Futures, Options and Forwards Upgrade Coming June 23, 2014

      ·         Auto-exercise for API Coal Options on Strips

            Deliveries

      ·         NEW: CME Group Delivery Dates for July 2014

      ·         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

      ·         June 2014 Currency Order-to-Pay Chargers

            Events & Announcements

      ·         NEW: June 2014 Eligible ETFs and Stocks

      ·         NEW: Name change for Dow Jones-UBS Commodity Index futures & swaps

      ·         NEW: Product Modification Summary: RUBUSD Futures and Options Tick Changes

      ·         NEW: Product Modification Summary: MXNUSD Futures & Options Tick Size Changes

      ·         NEW: Product Modification Summary: Add CME ClearPort and CME Direct as a New Venues for COMEX Weekly Option Contracts

      ·         NEW: Product Modification Summary: Add CME ClearPort and CME Direct as a New Venue for NYMEX Weekly Option Contracts

      ·         NEW: Product Modification Summary: Listing Month Expansion for Asia BALMO Contracts

      ·         NEW: Product Modification Summary: Delisting CME 10-Year Sovereign Yield Spread Futures

      ·         NEW: Product Modification Summary: Extend the listing of Australian Coking Coal

      ·         Product Modification Summary: Soybean Crush Options – REVISED

      ·         Holiday Schedule – July 4, 2014

      ·         OTC Holiday Advisory - Independence Day

      ·         REVISED June 2014 Final Foreign Currency Settlement Prices

      ·         Strike Interval Reduction- Options on Mexican Peso / U.S. Dollar (MXN/USD)

      ·         Contact Information

       

      Critical System Updates

      New Alternate ID Source (AltIDSrc) on Some CME Globex TrdCaptRpts Coming Trade Date June 23, 2014

      Beginning trade date June 23, 2014, "per month" Henry Hub Future contracts will be available for trading on CME Globex. Currently, only the "per day" version of the contract (code "NN") trades on CME Globex, yielding cleared quantities in multiples of the number of calendar days in the contract month times the CME Globex-traded quantity, when delivered to firms via FIXML messaging.

      The CME Globex product code for the "per month" contracts will be "NNE", and id will be converted to clearing product code "NN" in Front End Clearing (FEC). The trade quantities sent to firms via FIXML messaging will be the same as the quantities traded in Globex.

      The "per month" contracts will also include an Alternate ID block, with Alternate ID Source (AltIDSrc) of "103". Currently, Trade At Marker ("TAM") trades carry an Alternate ID block with AltIDSrc="112". Trade Capture Reports without special reference product codes do not include Alternate ID blocks.

      For questions, help testing in the New Release environment, or further information please contact CME Clearing Services (CCS) at 312-207-2525 or ccs@cmegroup.com.

      For examples and full text, please click here.

      CME-CH.COM migration to CME CORE

      Effective Tuesday, June 10, 2014, the following software and documentation that was available through cme-ch.com is now available in CME CORE: 

      • CME Optimizer
      • PC – SPAN
      • SPAN Risk Manager
      • SPAN RM Clearing
      • SPAN COM Interface
      • SPAN DOT NET Interface
      • SPAN Framework

      Please note, all users will be able to access their software after claiming their legacy permissions in CME CORE’s Download Center. 

      Accessing the latest version of your software is easy through CME CORE. 

      1)     Create a SMART Click ID if you do not already have one.

      a.     See steps below for creating one.

      2)     Log into CME CORE here: https://cmecore.cmegroup.com/core/index.html

      3)     Go the Download Center à Software.

      a.     PC SPAN will be available (no purchase necessary).

      b.    All customers can claim their legacy software in CME CORE by entering their cme-ch.com user name and password into CME CORE’s software download center.

       

      Steps for creating a SMART Click ID:

      1)     Go to the CME CORE login screen: https://cmecore.cmegroup.com/core/index.html

      2)     Click on the "Need to Register" link and provide the required information.

      3)     Receive your SMART Click ID.

      Please reach to EASE_Globex_Request@cmegroup.com with any questions about creating a SMARTCLICK ID. 

      Please reach out to clearing.riskmanagement@cmegroup.com with any questions about SPAN.  

      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.

      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: CME Group Delivery Dates for July 2014

      Listed here are the relevant delivery dates for the July 2014 Chicago Mercantile Exchange Inc., Chicago Board of Trade, NYMEX, COMEX, and DME contracts.

      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.

      June 2014 Currency Order-to-Pay Chargers

      Listed below is the breakdown of order-to-pay charges per contract for the June 2014 currency delivery. CME Group assesses these charges on a pro rata basis among all longs and shorts settled outside of CLS regardless of whether your firm used an order-to-pay for any of its long transactions. The order to pay breakdown below is based on a per contract basis.

      Order-to-Pay Charge Per Contract

      TY

      Turkish Lira

      $0.15

      Z

      PLN/EUR Cross Rate

      $0.03

      For questions, please contact the Deliveries Unit at (312) 930-3172

      Events & Announcements

      NEW: June 2014 Eligible ETFs and Stocks

      CME Clearing accepts a select number of shares of ETFs and equity stocks for customer and house segregated performance bond collateral for Base Guaranty Fund products. CME Clearing now accepts ETFs under its own asset type, ETF, in our C21 system. Both ETFs and stocks are category 3 assets and are capped in combination at $1 billion per clearing member firm. Please refer to the website http://www.cmegroup.com/clearing/financial-and-collateral-management/ for further details regarding acceptable collateral, haircuts, and limits.

      Please click here for the full text of this advisory.

      NEW: Name change for Dow Jones-UBS Commodity Index futures & swaps

      Effective Tuesday, July 1, and pending all relevant CFTC regulatory review periods, please be advised that the Chicago Mercantile Exchange Inc. (CME or EXCHANGE) will change the name for the products listed below on CME Globex, and available for submission for clearing on CME ClearPort.

      Code
      Clearing/Globex

      Current Product Name

      New Product Name (as of 7/1/14)

      AW/70

      Dow Jones-UBS Commodity Index Futures

      Bloomberg Commodity Index Futures

      DGS/DGS

       

      Dow Jones-UBS Commodity Index Swaps (Cleared OTC)

      Bloomberg Commodity Index Swaps (Cleared OTC)

      DG2/DG2

      Dow Jones-UBS Commodity Index 2-Month Forward Index Swap

      Bloomberg Commodity Index 2-Month Forward Swaps (Cleared OTC)

      DG3/DG3

      Dow Jones-UBS Commodity Index 3-Month Forward Index Swap

      Bloomberg Commodity Index 3-Month Forward Swaps (Cleared OTC)

      DRS/DRS

      Dow Jones-UBS Roll Select Commodity Index Futures

      Bloomberg Roll Select Commodity Index Futures

      NEW: Product Modification Summary: RUBUSD Futures and Options Tick Changes

      Effective Sunday, July 13 for trade date Monday, July 14, and pending all relevant CFTC regulatory review periods, please be advised that the Chicago Mercantile Exchange, Inc. (CME or Exchange) will amend the minimum price increment for Russian Ruble/U.S. Dollar futures and options from $.00001 ($25.00 per contract) to $.000005 ($12.50 per contract).

      Please click here for the full text of this advisory.

      NEW: Product Modification Summary: MXNUSD Futures & Options Tick Size Changes

      Effective Sunday, July 13 for trade date Monday, July 14, and pending all relevant CFTC regulatory review periods, please be advised that the Chicago Mercantile Exchange, Inc. (CME or Exchange) will amend the minimum price increments for Mexican Peso/U.S. Dollar (MXN/USD) futures and options. 

      The MXN/USD futures minimum tick is changing from $.000025 ($12.50 per contract) to $.00001 ($5.00 per contract).  The MXN/USD options minimum tick is changing from $.0000125 ($6.25 per contract) to $.00001 ($5.00 per contract).

      Please click here for the full text of this advisory.

      NEW: Product Modification Summary: Add CME ClearPort and CME Direct as a New Venues for COMEX Weekly Option Contracts

      Effective Sunday, July 13, 2014 for trade date Monday, July 14, and pending all relevant CFTC regulatory review periods, please be advised that the Commodity Exchange, Inc., Inc. (EXCHANGE) will list these products for submission for clearing on CME ClearPort.  These products are currently listed on CME Globex and the COMEX trading floor.

      NEW: Product Modification Summary: Add CME ClearPort and CME Direct as a New Venue for NYMEX Weekly Option Contracts

      Effective Sunday, July 13, 2014 for trade date Monday, July 14, and pending all relevant CFTC regulatory review periods, please be advised that the New York Mercantile Exchange (EXCHANGE) will list these products for submission for clearing on CME ClearPort.  These products are currently listed on CME Globex and the NYMEX trading floor.

      NEW: Product Modification Summary: Listing Month Expansion for Asia BALMO Contracts

      Effective Sunday, July 13, 2014 for trade date Monday, July 14, 2014, and pending all relevant CFTC regulatory review periods, please be advised that the New York Mercantile Exchange Inc. (NYMEX or EXCHANGE) will expand the listing of contract months for Asia BALMO Contracts.

      Please click here for the full text of this advisory.

      NEW: Product Modification Summary: Delisting CME 10-Year Sovereign Yield Spread Futures

      Effective Monday June 23, 2014 the Chicago Mercantile Exchange, Inc., Inc. (CME or Exchange) delisted 12 Sovereign Yield Spread Futures contracts from CME Globex.

      Please click here for the full text of this advisory.

      NEW: Product Modification Summary: Extend the listing of Australian Coking Coal

      Effective Sunday, June 22, 2014 for trade date Monday, June 23, 2014, and pending all relevant CFTC regulatory review periods, please be advised that the New York Mercantile Exchange (‘Exchange’) will expand the listing for contract months for Australian Coking Coal.

      Please click here for the full text of this advisory.

      Product Modification Summary: Soybean Crush Options – REVISED

      Please be advised that the Chicago Mercantile Exchange, Inc. (CME or EXCHANGE) postponed the listing of the Soybean Crush Options on CME Globex and for submission for clearing on CME ClearPort that were scheduled for Sunday, June 22 (for trade date Monday, June 23),

      These products are already listed on Open Outcry (Floor). Please refer to the link below for contract specs.

      http://www.cmegroup.com/trading/agricultural/grain-and-oilseed/soybean-crush_contractSpecs_options.html

      Code
      Clearing/Globex

      Title

      31 / BCE

      SOYBEAN CRUSH OPTIONS

      Holiday Schedule – July 4, 2014

      Please reference the holiday processing schedule at this link for Friday, July 4, 2014 in observance of Independence Day.

      OTC Holiday Advisory - Independence Day

      On Friday, July 4, 2014 (Independence Day), CME Clearing will be open to clear trades. Due to the holiday, however, there will be several impacts to CME Clearing’s processing and trade submission timelines for OTC products. For the full text of the advisory describing these impacts, please click here.

      REVISED June 2014 Final Foreign Currency Settlement Prices

      Please follow this link for the advisory notice regarding June 2014 Final Foreign Currency Settlement Prices.

      Strike Interval Reduction- Options on Mexican Peso / U.S. Dollar (MXN/USD)

      Effective Sunday, June 22, 2014 for trade date Monday, June 23, 2014 the Chicago Mercantile Exchange, Inc. (CME or Exchange) will reduce the strike interval for options on Mexican Peso/U.S. Dollar (MXN/USD) futures from an increment of .000625 to .000500 listed in the table below. The strike price DPL will remain unchanged at 6.

      With this change, the strike price listing rules will be expanded from ± 24 ATM to ± 30 ATM for all trading maturities on CME Globex, the CME trading floor and for submission for clearing on CME ClearPort.

      Code
      Clearing/Globex

      Title

      Current Strike Interval

      New Strike Interval (as of June 22)

      MP/1M

      MEXICAN PESO OPTIONS Week 1

      000625

      000500

      MP/2M

      MEXICAN PESO OPTIONS Week 2

      000625

      000500

      MP/3M

      MEXICAN PESO OPTIONS Week 3

      000625

      000500

      MP/4M

      MEXICAN PESO OPTIONS Week 4

      000625

      000500

      MP/5M

      MEXICAN PESO OPTIONS Week 5

      000625

      000500

      MP/6M

      MEXICAN PESO OPTIONS Long dated

      000625

      000500

      Contact Information

      CME Group Contacts

      cmegroup.com Inquiries

      Customer Service

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      General Information

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      CME Global Command Center

      		  

      Global Account Management

      U.S.

      (800) 438-8616

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      +0800 898 013

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      +65 6532 5010

      Performance Bond Information

      Risk Management Dept.

      (312) 648-3888

      Position Limits

      Market Regulation

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      Clearing Fees

      Clearing Fee Hotline

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      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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