System Updates

NEW: FECPlus Phase 2: Electronic Trade Migration (ETM) *UPDATE* - November 2, 2014

Please be aware the new deployment date for the FECPlus Eletronic Trade Migration will be at the close of business day Friday, October 31, 2014 for start of business Sunday, November 2, 2014. As a reminder, this change will move all GLOBEX executed trades from the FEC to the FECPlus system.

ETM Testing

We encourage firms to continue testing during this time. Testing will be conducted in the Certification environment exclusively.

ETM Training

Any firms seeking a demo can contact us directly at CCS@CMEGroup.com to set one up either in person or online. 

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

NEW: New Release Price Quality Auction Testing iTraxx Indices – September 29, 2014

Please be advised CME will open testing of the Price Quality Auction (PQA) system for the iTraxx Indices in New Release (testing environment) on Monday, September 29, 2014.

Please find additional details here.

NEW: Enhancements to the CDS Margin Model to Support iTraxx Indices in New Release

Please be advised that the benchmark Markit iTraxx Europe index and the Markit iTraxx Crossover index contracts will become eligible for margining in New Release (testing environment) on Monday, September 29, 2014.

Additionally, a new report based on the Clearing Member positions in New Release (testing environment) titled CDSMR3_nnn_ccyymmdd.nr.csv (“CDSMR3”) will be available to clearing member firms starting on Monday, September 29, 2014. The CDS MR3 contains the initial margin requirement broken down by performance bond account. More specifically, clearing member firms that hold positions in both USD and EUR denominated credit default swap contracts will see a currency-specific margin in addition to a single USD-equivalent margin requirement for their portfolio. There will be no impacts to the CDS Margins Summary report at this time. For specifications of these margin data files, including the CDS MR3, please refer to the below link:

http://www.cmegroup.com/clearing/files/PBRequirementsDatafiles.pdf

For questions about the new model or how to calculate margins with the new model, please contact cme.core@cmegroup.com.

For questions about the CDS MR3 report, please contact the CME Client Services Team at onboarding@cmegroup.com.

CDS Production Advisory- 2013 ISDA Credit Definitions and Index Annex Dates Postponement

Please be advised that the protocol effective date for the 2014 ISDA Credit Derivatives Definitions has been postponed to October 6, 2014. After close of business on October 3, 2014 all static data updates to reflect the 2014 ISDA Credit Derivatives Definitions on the Product Reference File will be completed in Production. As of October 6, 2014 all indices will reference the CME Rules which incorporate the 2014 ISDA Credit Derivatives Definitions.

In addition, to be consistent with the protocol, Markit will publish the new series of the CDX IG and CDX HY with an annex date of October 6, 2014 and October 9, 2014 respectively. CME Clearing will update the new series for the CDX IG and the CDX HY as follows:

CDX North American Investment Grade Series 23

·         First day of trading will be October 6, 2014

·         All trades cleared on the new series beginning October 6, 2014 will reference the CME Rules which incorporate the 2014 ISDA Credit Derivatives Definitions

·         The new series will be added to the Product Reference File after close of business on September 19, 2014, but will be set to not-clearable

 CDX North American High Yield Series 23

·         First day of trading will be October 9, 2014

·         All trades cleared on the new series beginning October 9, 2014 will reference the CME Rules which incorporate the 2014 ISDA Credit Derivatives Definitions

·         The new series will be added to the Product Reference File after close of business on September 26, 2014, but will be set to not-clearable

**Please note the effective date for these new series will remain as September 22, 2014 to ensure a full coupon.

If you have any questions, please contact the CME Client Services Team at Onboarding@cmegroup.com or by telephone at 312-338-7112.

Events & Announcements

CME Group Contacts

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