CME Globex Notices: January 10, 2011

 Postponed - Theoretical Settlement Prices via FIX/FAST
To allow more time for customer and systems readiness, the Theoretical Settlement changes, previously scheduled for Sunday, February 6, have been postponed. Further information will be available in the CME Globex Notices.

 Postponed - Preliminary and Final Settlement Prices via FIX/FAST
To allow more time for customer and systems readiness, the Preliminary Settlement changes, previously scheduled for Sunday, February 6, have been postponed. Further information will be available in the CME Globex Notices.

New Mandatory iLink Tags
Effective Sunday, June 5, new mandatory FIX tags will be introduced on inbound and outbound iLink messages to enhance customer support and assist in market oversight.

Based on customer feedback, the requirements have been updated and clarified to be more easily supported by system providers. A summary of the clarifications are captured below.

The new tags will be used to indentify:

• Front-end system
  • Should reflect the gateway application logging into the iLink session id
• Automated trading indicator flag
  • Does not have to dynamically change on a per-order basis from manual to automated
• Country of origin
  • Does not have to dynamically change based on trader’s current location.
  • For automated systems, the tag should denote the location of the system operator, not the trading system.

All customer order routing systems must support and accurately populate these new tags, and complete the mandatory certification via AutoCert+ by June 5.

The new tags are available in New Release for customer testing.

There are no impacts to FIX/FAST market data with this launch.

Please see the updated   Client Impact Document for a more detailed description of technical and data requirements.

NYMEX and DME Futures Enhancements
Effective Sunday, January 23, a number of enhancements will be introduced for NYMEX and Dubai Mercantile Exchange (DME) futures and future spreads on CME Globex.

Please note: for the NYMEX and DME futures enhancements launch on January 23, customers are asked to please cancel all Good 'Till Cancel (GTC) and Good 'Till Date (GTD) orders for these futures and futures spreads after their respective closes on Friday, January 21. After 16:15 CT on Friday, January 21, all remaining GTC and GTD orders for these products will be cancelled by the CME Globex Control Center (GCC).

GTC and GTD orders for NYMEX and DME futures and futures spreads may be re-entered during an extended pre-open period, starting at 15:00 CT, on Sunday, January 23. TAS products will pre-open at their normal time, 16:15 CT. If you have any questions, please contact the CME Globex Control Center at 312.456.2391, in Europe at 44.20.7623.4708, or in Asia at 65.6223.1357.

In internal testing environments, the enhancements for NYMEX and DME have resulted in significantly reduced message response times. Already among the fastest in the industry, this upgrade is expected to reduce iLink and FIX/FAST response times by an average of 50%. As a result of the reduced message response times, bandwidth utilization in these futures markets is expected to ultimately increase by as much as 50%.

The messaging and functionality impacts are documented online in the   Client Impact Assessment.

CME Group recommends all system providers supporting NYMEX or DME futures test these changes thoroughly in New Release.

Green Exchange Product Migration
Effective Sunday, January 23 (trade date Monday, January 24), the existing NYMEX emissions products (Green products) will be de-listed from trading on NYMEX and will be listed for trading on Green Exchange (the Transition). These products will use the same SecurityGroup (tag 1151) as they do today; however the value in tag 207-SecurityExchange will be updated from XNYM to GREE. In addition, the value in tag 55-Symbol will be changed for the Green products. The Green futures and options will be disseminated on new Market Data Platform channels 18 and 19 as described below. Information on the new channels is now available in the config.xml file. The channels will be available for customers and broadcasting heartbeats as of Sunday, January 9 in the production and certification environments.

As previously announced, following the Transition, Green futures products will continue to be available for trading via CME Globex and privately-negotiated transactions accepted for submission for clearing through CME ClearPort. In addition, with the Transition, ten Green options products (currently available for trading on the New York trading floor) will be transitioned to and newly listed for trading on the CME Globex platform.

A mock trading session, to ensure customers can trade and receive market data for Green products in the CME Globex production environment, will be offered Saturday, January 22, 8:30 a.m. – 10:00 a.m. Central time. Detailed information for the mock trading session is now available   online. Customers must register with their   Global Account Manager to participate.

Please note: for the Green Exchange launch on January 23, customers are asked to please cancel all Good 'Till Cancel (GTC) and Good 'Till Date (GTD) orders for these futures and futures spreads after their respective closes on Friday, January 21. After 16:15 CT on Friday, January 21, all remaining GTC and GTD orders for these products will be cancelled by the CME Globex Control Center (GCC).

GTC and GTD orders for Green futures and futures spreads may be re-entered during the normal pre-open, starting at 16:15 CT, Sunday, January 23. If you have any questions, please contact the CME Globex Control Center at 312-456-2391, in Europe at 44.20.7623.4708, or in Asia at 65.6223.1357.

Below is the full list of Green products that are currently available in New Release for customer testing

 Expansion of TAS on Gold Silver and Copper Futures
Effective Sunday, January 23 (trade date Monday, January 24), CME Group will list Trading at Settlement (TAS) for the first active maturity for Copper futures on the CME Globex platform. The previously announced expansion of Trading at Settlement (TAS) futures to the second active maturity for Gold, Silver, and Copper futures and the associated calendar spread between the first and second active maturities has been postponed. Further information will be available in the CME Globex Notices.

The TAS Copper futures are currently available in New Release for customer testing.

Implied Functionality for CBOT Corn Futures and Mini-Sized Corn Futures
Implied functionality, which was disabled for CBOT corn futures and spreads (tag 1151-SecurityGroup=ZC) and mini-sized corn (tag 1151=XC) from August 29, 2010, through December 31, 2010, will be extended until January 31, 2011. During the month of January, a decision on the long-term use of the implied spreading functionality for corn futures will be made public based on our assessment of the markets during the August to December period.

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.

 Butterfly Spreads on Crude Oil Futures
Effective Sunday, February 27 (trade date Monday, February 28), butterfly spreads will be listed on CME Globex for Crude Oil futures (tag 1151-SecurityGroup=CL).

Twelve one-month and two six-month butterfly spreads will be available upon launch.

Butterfly spreads consists of three instruments within the same product and with equally distributed maturity months (e.g., M2-U2-Z2). Further details are available in the   Electronic Trading Concepts. Butterfly spreads are identified with BF in tag 762-SecuritySubType in the Security Definition (tag 35-MsgType=d) message. Crude Oil butterfly spreads will not support implied functionality.

Crude Oil butterfly spreads will be available for customer testing in New Release this Monday, January 17.