CME Globex Notices: July 26, 2010

 CME Globex Data Center Migration
 

A  client impact overview is also available.

Third Mock Trading Session
The third mock trading session, to ensure customers can connect to, receive market data and trade from the new CME Globex data center, will be offered Saturday, July 31, 8:00 a.m. – 2:30 p.m. Central time. An  overview of the mock trading session is now available. Customers must  register online to participate.

If you have any questions regarding this migration, please contact your  Global Account Manager at 312.634.8700 in the U.S.; +44 (0) 20 7796 7100 in Europe; or +852.3101.7696 in Asia.

Bursa Malaysia Derivatives Products on CME Globex
Effective Sunday, September 19, 2010 (Chicago time)/Monday, September 20 (Malaysia time), pending Malaysian Securities Commission approval, Bursa Malaysia Derivatives™ products will be available for trading on the CME Globex platform.

New and existing CME Group customers who would like to trade BMD products must establish all appropriate agreements and accounts with a Bursa Malaysia Clearing Firm to be authorized to trade BMD products. Contact your  Global Account Manager at CME Group for more information.

FIX/FAST-format market data will be enhanced to support BMD products on CME Globex as outlined in the  Bursa Malaysia Derivatives Client Impact Assessment. There are no impacts to iLink order routing for this launch.

BMD products are currently available in New Release for customer testing.

 Corn-Wheat Intercommodity Spread Options Delisting
 

Corn–Wheat Intercommodity Spread Options, launched on Sunday, July 25, 2010, are being temporarily delisted effective July 28, 2010. These options will be relisted pending changes to the contract rules and how the corn-wheat spread is defined.

 FIX tag 55-Symbol Change for Distillers Dried Grain (DDG) Futures
 

Effective Sunday, August 22, the Symbol (FIX tag 55) for the Distillers Dried Grain (DDG) futures will change as follows:

The Distillers Dried Grain (DDG) with the new tag 55 value will be available in New Release for customer testing on Monday, August 9.

3-Deep Options Market Data
Effective Sunday, August 22, the market data book depth for the remaining top-of-book only options channels, CME Interest Rates (10), CME Commodity (14), Non-Crude Energy (36), NYMEX Alternative Markets (37), CBOT Commodity (112), MGEX (119) and KCBT (121), will change to three deep.

This change will result in a move to the incremental book management style from the current overlay style, as reflected in tag 279-MDUpdateAction in the Market Data Incremental Refresh message (tag 35=X). Valid values for this tag will now include 0 (New), 1 (Change) and 2 (Delete).

The book depth for every instrument on CME Globex is detailed in tag 264-MarketDepth in the Security Definition (tag 35-MsgType=d). CME Group strongly recommends customer applications utilize tag 264 to identify the supported instrument book depth level dynamically. CME Group also recommends all customer applications should be designed to leverage all possible values for tag 279-MDUpdateAction in the Market Data Incremental Refresh message (tag 35=X) for all markets and channels, to minimize the impact of future book depth changes.

The FIX/FAST Software Development Kit, including details on book management in the Core Functionality module, is available  online. Please contact Certification Support for Electronic Trading ( CSET) at 312.930.2322 for development assistance.

All options channels in New Release are currently three-deep for customer testing.

Implied Functionality for CBOT Corn Futures 
As previously announced, effective August 29, 2010, implied functionality will be disabled for CBOT corn futures and spreads (tag 1151-SecurityGroup=ZC).

Implied functionality is being disabled in the CBOT Corn futures from August 29, 2010, through December 31, 2010, to determine if more robust markets in highly liquid contracts can be improved without the implied spreads. We will monitor the market during this period for signs of market quality degradation and, if observed, we will reinstate the implied functionality. Based on the assessment over this period, a decision on the use of the implied spreading functionality for corn futures going forward will be made. More information on this change is available  online.

Implied functionality is indicated for every instrument on CME Globex in the FIX/FAST Security Definition message (tag 35-MsgType=d), in tag 1144-ImpliedMarketIndicator.