CME Globex Notices: January 21, 2008

CBOT and Hosted Exchanges Launch 
Effective Sunday, January 27 (trade date Monday, January 28), the CBOT Interest Rate products are scheduled to launch on the CME Globex platform.

Final Mock Trading Session!
This Saturday, January 26, will be the final CBOT Mock Trading Session. The updated  CBOT Mock Trading Plan & Script is available online.

Customers participating in this Saturday's mock trading session are requested to call into the conference bridge at 866.548.4703, passcode 584529, to receive important updates and information during the session.

Schedule
All times are given in Central time (CT).

• 8:30 a.m.: Customer login to CME Globex
  • Instrument Creation (MO) messages available for download
• 9 - 11 a.m.: Mock Trading Session
  • 9 - 10 a.m.: Scripted testing
    • End-to-end testing through Clearing
  • 10 - 11 a.m.: Unscripted testing
    • Front-end testing only
    • CME Group injects CBOT futures orders into markets

Key Details

• Legacy CME markets will also be open to customers; however, there will be no data replay in these markets.
• CME Group strongly recommends customers test any new iLink IDs in production before the Saturday mock trading session.
• In previous mock trading sessions, some QuickFIX users were unable to trade due to a QuickFIX configuration issue. Please ensure that your application is configured to permit Saturday trading.
• During this Saturday's session, the e-cbot simulation environment will be available.

CME Group Contact Information
In addition to the conference bridge, the CME Globex Control Center (GCC) and CME Group Clearing Services will be available throughout the mock trading session for any questions or concerns.

• Conference Bridge: 866.548.4703, passcode 584529
• GCC: 312.456.2391
• Clearing Services: 312.207.2525

Early Entry for Good-Till Orders
Last Sunday, January 20, Instrument Creation (MO) RLC and Security Definition FIX/FAST market data messages were disseminated for the CBOT Interest Rates products scheduled to launch the following Sunday, January 27. They are available throughout the week on their respective replay channels. CME Group is broadcasting these messages to prepare customers to enter Good 'Till Cancel (GTC) and Good 'Till Date (GTD) orders during the extended pre-open period on Friday, January 25, and Sunday, January 27.

Any resting GTC and GTD orders for CBOT Interest Rate products will be removed from e-cbot at 4:20 p.m. CT on Friday, January 25, before their migration to CME Globex.

The schedule for the extended futures pre-open for entering GTC/GTD orders is:

• Friday, January 25
  • Interest Rate futures - 4:00 - 6:00 p.m. CT
• Sunday, January 27
  • Interest Rate futures - 3:00 p.m. - market open

Please note that due to the code conflict for the 30-Year Interest Rate Swap futures, these products will not be available for the extended pre-open on Friday. Customers may enter GTC and GTD orders for the 30-Year Interest Rate Swap futures during the Sunday extended pre-open.

More information, and the complete list of products scheduled to launch on January 27, is available in the  Client Impact Assessment.

CBOT Integration Resources
The new  CBOT & Hosted Exchanges Quick Reference Guide for Traders is now available on the CME Group Web site. The updated  CBOT Mock Trading Plan and the  Client Impact Assessment are also available. All documentation for this migration to the CME Globex electronic trading platform is available on the  CME Group Web site.

FIX/FAST Channel Definitions 
As previously announced, the FIX/FAST channel definition tables in PDF format for the Production, New Release, Certification and AutoCert+ environments will be unavailable effective February 4, 2008. Subsequently, the Market Data Configuration Service will be the only source for channel definitions. The Market Data Configuration Service is designed to ease the recommended procedure of verifying templates and channel configurations each week at Sunday start-up.

The Market Data Configuration Service is currently available and allows customers to receive the information via XML file(s) from the  ftp://cme.com/fix/ Web site, with all the Market Data Platform channel information (multicast IP, product group and ISIN served) for FIX/FAST.

More information on the Market Data Configuration Service is available in the  Core Functionality module of the FIX/FAST SDK, Section 2.1.2.2.

Please note: there is no change for the RLC and ITC2.1 format market data channel definition tables.

Changes to Instrument Creation (MO) Replay Channels 
Effective Sunday, March 30, 2008, CME Group will decommission the Instrument Creation (MO) Replay channels 1 and 16 in the production and Certification environments. Channels 1 and 16 will be decommissioned in New Release effective Sunday, March 2.

The new MO Replay channels on the Market Data Platform, introduced in November 2007, allow customers to listen only to the MO messages for which they receive market data. With these new channels, every product RLC data channel (e.g., channel 7, Equity futures; channel 8, Equity options, etc.) now has a dedicated MO Replay channel.

Please note, these changes only affect the RLC-format channels. There are no changes to the ITC 2.1-format channels.

The new MO Replay channels are currently available in New Release, Certification and production. The channel definition tables are available online for  Certification and New Release, and for  production.

Volatility-Quoted Options Launch 
In March 2008, volatility-quoted options are scheduled to launch on six FX options products: EuroFX, British pound, Japanese yen, Canadian dollar, Swiss franc and Australian dollar.

Volatility-quoted options support delta-neutral trading, which virtually eliminates the execution risk inherent to trading premium price options. The volatility-quoted options will utilize the existing FX options and futures products.

All of the volatility-quoted options suite, including all maturities in the American- and European-style, and Straddle, Strangle and Vertical strategies, are currently available in the New Release environment for customer testing.

Customers can now certify for volatility-quoted options in New Release via AutoCert+. This brief certification is mandatory for all systems that will provide trading access to these options.

More information on these new products and the associated messaging and functionality enhancements is available in the  Volatility-Quoted Options Client Impact Assessment.

 NYMEX MACI and Backwardation-Contango Index Futures Launch 
Effective Sunday, February 10, 2008 (trade date Monday, February 11), NYMEX MBF Alpha Commodities Index ( MACI) and Crude Oil  Backwardation-Contango Index futures and TAS contracts will launch on the CME Globex platform.

More information on the MACI and Backwardation-Contango products is available from  NYMEX Product Marketing at 212.299.2301.

These instruments will be available for customer testing in New Release this Tuesday, January 29.

 NYMEX Seventh Month Crude Oil TAS Launch 
Effective Sunday, February 10, 2008 (trade date Monday, February 11), the seventh month of the Crude Oil TAS (CLT) contract will be listed for trading on CME Globex. The fourth - sixth month contracts will not be listed. Currently, CME Globex only lists three contract months for the Crude Oil TAS.

The seventh month contract (e.g., the August 2008 maturity) will be listed initially with an expiration date in February and re-listed in June as the third contract month, with the new expiration date in July. The contract will be re-listed with the same Complete Instrument Code but different CME Globex Internal IDs.

More information on the Complete Instrument Code and CME Globex Internal IDs is available in the  RLC Message Specifications module of the  legacy RLC market data SDK.

More information on the seventh month Crude Oil TAS contracts is available from  NYMEX Product Marketing at 212.299.2301.

This instrument will be available for customer testing in New Release this Tuesday, January 29.

 New CBOT Interest Rate Electronic Trading Hours 
Effective Sunday, January 27, 2008 (trade date Monday, January 28), electronic trading of CBOT Interest Rate products will migrate to the CME Globex electronic trading platform. With this transition, electronic trading of these futures and options contracts will open 30 minutes earlier, at 5:30 p.m. Central Time (CT).

 Changes in CBOT Interest Rate Option Spread Strategy Conventions
With the migration to the CME Globex platform this weekend, there are changes to some pre-defined options spreads vs. e-cbot. In particular, there are key differences in the following interest rate option strategies:

 Block Trading for Legacy CBOT Interest Rate Products
Effective Monday, January 28, 2008, block trading will be permitted in CBOT U.S. Treasury and 30-Day Fed Fund products, subject to the minimum block quantity thresholds reflected in the tables below and the conditions set forth in Rule 526 ("Block Trades").

Block trades in Interest Rate Swap futures continue to be permitted subject to the thresholds below.

New 30-Year Interest Rate Swap Product Code
Effective Saturday, January 26, 2008, 30-Year Interest Rate Swap futures will be available for the mock trading session with a new CME Globex product code (I3). Please note: this code is different than the previous e-cbot product codes.

Futures trading is not suitable for all investors, and involves risk of loss. Futures are a leverage instrument, and because only a percentage of a contract's value is required to trade, it is possible to lose more than the amount of money initially deposited for a futures product.

CME Group is the trademark of CME Group, Inc. The Globe logo, Globex® and CME® are trademarks of Chicago Mercantile Exchange, Inc. CBOT® is the trademark of the Board of Trade and the City of Chicago.

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