NOTICE #: 14-301

SUBJECT: CME Clearing Notice: Monday, July 28, 2014

Topics in this issue include:

      Critical System Updates

·         NEW: Advisory for IRS Margin Model Parameter Change in NR

      Deliveries

·         CME Group Delivery Dates for August 2014

·         2014 Approved List of Live Cattle Stockyards & Slaughter Plants

      Events & Announcements

·         NEW: OTC Holiday Advisory- Labor Day

·         NEW: Product Modification Summary: De-list the NY ULSD vs. Low Sulfur Gasoil Contract (Code SLS)

·         NEW: 2nd REVISION: Product Modification Summary for Clearing Firms, Bookkeeping Software Providers, ISVs

·         NEW: Product Delisting Effective July 28, 2014

·         UPDATED Additional Client Master Data for Margin Accounts

·         Amend Listing Cycle for Brent Futures and Options on NYMEX

·         CME Clearing US Delegated Reporting Service Update – EMIR Collateral & Valuation Requirement August 11, 2014

·         UPDATED: Product Modification Summary for Clearing Firms, Bookkeeping Software Providers, ISVs

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

·         Contact Information

Deliveries

CME Group Delivery Dates for August 2014

Listed here are the relevant delivery dates for the August 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.

NEW: OTC Holiday Advisory- Labor Day

On Monday, September 1, 2014 (Labor 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 details on these impacts, please see the tables at this link.

NEW: Product Modification Summary: De-list the NY ULSD vs. Low Sulfur Gasoil Contract (Code SLS)

Effective Monday, July 28, 2014, the New York Mercantile Exchange, Inc. (Exchange) delisted the following product from CME Globex, CME ClearPort and the NYMEX trading floor.

There is currently no open interest in this product.

NEW: 2nd REVISION: Product Modification Summary for Clearing Firms, Bookkeeping Software Providers, ISVs

Effective Sunday, August 3, 2014 for trade date Monday, August 4, 2014, and pending all relevant CFTC regulatory review periods, please be advised that the New York Mercantile Exchange (EXCHANGE) will modify the contract size for the products listed below on CME Globex, Open Outcry and available for submission for clearing on CME ClearPort.

NEW: Product Delisting Effective July 28, 2014

Effective July 28, 2014, the Chicago Mercantile Exchange, Inc. (CME or Exchange) delisted the following products in the table below from CME Globex, CME ClearPort and the CME trading floor. 

 There is currently no open interest in these products.

UPDATED Additional Client Master Data for Margin Accounts

This advisory updates and replaces Clearing Advisory 14-087, originally published on March 3, 2014.

UPDATE #1: July 23, 2014 (ORIGINAL DATE March 27th, 2014)

Some clearing firms have indicated that they may not be able to meet the October 6 deadline for submission of the additional client master data. If so, please contact MarginAccts@cmegroup.com to request an extension.

For the full text of this advisory, please click here

Amend Listing Cycle for Brent Futures and Options on NYMEX

Effective Sunday, August 3, 2014 for trade date Monday, August 4, 2014, and pending all relevant CFTC regulatory review periods, please be advised that the New York Mercantile Exchange (EXCHANGE) will expand the listing of contract months for the products listed below on CME Globex, Open Outcry and available for submission for clearing on CME ClearPort. For more details, please click here.

CME Clearing US Delegated Reporting Service Update – EMIR Collateral & Valuation Requirement August 11, 2014

Under EMIR reporting mandates from August 11, 2014, EU Financial Counterparties (FC) and Non-Financial Counterparties above the clearing threshold (NFC+) must report daily collateral and valuation data relating to their open trades and positions to an EMIR Trade Repository. 

For the full text of this advisory, please click here.

UPDATED: Product Modification Summary for Clearing Firms, Bookkeeping Software Providers, ISVs

Effective Sunday, August 03, 2014 for trade date Monday, August 04, 2014, and pending all relevant CFTC regulatory review periods, please be advised that the New York Mercantile Exchange (EXCHANGE) will modify the contract size for the products listed below on CME Globex, Open Outcry and available for submission for clearing on CME ClearPort.

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

To allow for additional testing time, CME Clearing has postponed the implementation date for the FECPlus Electronic Trade Migration (ETM) from the original July 14th date. A new release date will be announced soon.

ETM Testing

We encourage firms to continue testing as we work to come up with an acceptable date. Again, the testing will be done in the Certification environment 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.

ETM Training

We have completed our FECPlus training sessions at the CBOT building, but any firms seeking demos can contact us directly at CCS@CMEGroup.com to setup an in person demo or an online demo as needed.

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

Contact Information