CME Globex Notices: July 02, 2012

FIX/FAST Operators Release
 

The life cycle of the FIX/FAST protocol, including streamlined FIX/FAST, is rapidly approaching its end as an industry standard in the United States. †The OPRA connected exchanges are eliminating FIX/FAST entirely by the end of this year. Given the increased availability of bandwidth as well as high speed connections such as co-location, compression has become less critical. In the short term, we are removing certain field operators (copy, default, delta and increment) from our data feed. In the longer term, CME Group continues to evaluate a next generation market data protocol.

These operators will be removed from all production FIX/FAST and streamlined FIX/FAST channels on the Market Data Platform by Sunday, November 4, 2012. A detailed schedule of the remaining channels is now available  online.

New templates will be required for the impacted channels. Per the normal process, the new templates are currently available on the CME Group ftp site for New Release and Production, along with the current and last generation templates. More information on template management is available in the  Client Systems Wiki.

Please Note: CME Group recommends customer systems pull the templates from the CME Group ftp site every week, prior to Sunday startup.

These changes are currently available on all FIX/FAST channels in the New Release environment.

As a result of this launch, bandwidth utilization over the Market Data Platform will ultimately increase. CME Group is contacting customers who may have over-subscription risk.

†Please note: CME Group is not a member of the Options Pricing Reporting Authority (OPRA).

Global Account Management will be hosting a  live webinar and interactive discussion on the FIX/FAST Operators Release on Thursday, July 12.

Reduction in User Defined Spread (UDS) Instrument Maximum Number of Legs
Effective Sunday, July 15, 2012, the maximum number of outright legs allowed on a User-Defined Spread (UDS) will be reduced to 26. Currently, the maximum number of outright legs is 40.

Security Definition Requests (tag 35-MsgType=c) with more than 26 outright legs will be rejected with Business Level Reject (tag 35-MsgType=j).

  Recursive UDS functionality will continue to be supported, and can be utilized to build strategies with more than 26 outright legs.

This change is currently available in New Release for customer testing.

Details on UDS functionality are available  online.

CME Globex Performance Release
New information is now available in the  Client Impact Assessment on the move to single IP for iLink sessions in the production and disaster recovery environments. Information on the iLink launch date for the Disaster Recovery environment on November 4, 2012, is also available.

This release also features iLink messaging changes. Detailed information on this launch, including impacts and launch schedules, is available in the  Client Impact Assessment.

The FIX/FAST launch will be phased in over 5 weekends, August 26 through October 7, during which the source IPs for each channel will change. The iLink launch will feature an Early Adopter period, October 7 through October 12, and a production launch Sunday, October 14. All iLink sessions must migrate to new IPs and ports in order to access the new high performance production environment.

Customers who wish to participate during the Early Adopter phase must select the sessions that will be migrated and inform their  Global Account Manager no later than Wednesday, October 3. Please note: To minimize the risk of business interruptions, CME Group strongly recommends that customers participating during the early adopter phase direct no more than 20% of their sessions to the new IPs and ports.

Customer certification is not required, but CME Group strongly recommends all system providers test these changes thoroughly in New Release. Good 'Till Cancelled and Good 'Till Date (GTC/GTD) orders will not be impacted.

Please contact your  Global Account Manager with any questions or concerns at 312 634 8700, in Europe at 44 203 379 3754, or in Asia at 65 6593 5574 for additional information.

Global Account Management will be hosting a  live webinar and interactive discussion on the CME Globex Performance Release on Thursday, July 12.

iLink Enhancements for MexDer Markets via CME Globex
Effective Monday, July 23, 2012, the MexDer, Mercado Mexicano de Derivados Risk Management Gateway (RMG) will be available to MexDer’s clearing firms for risk management of North- to- South order routing customers via CME Globex.

The RMG provides MexDer clearing firms with a backstop risk management tool that allows for the administration of limits on the accumulation of exposure in MexDer markets. Please contact  MexDer for more information on the RMG.

With this launch, iLink messaging will be impacted. The iLink messaging behavior changes are currently available in New Release for customer testing.

The  client impact assessment provides detailed iLink message behavior changes for customer systems supporting MexDer products via Globex.

A mock trading session will be held on Saturday, July 21. Please contact your  Global Account Manager for further information.

 Risk Management Interface (RMI) Cancel Functionality
Effective Sunday, August 12, 2012, the Risk Management Interface (RMI) Application Programming Interface (API) will launch order cancel functionality. The RMI API Cancel Functionality will allow Clearing Member Firms (CMFs) to programmatically cancel working orders, including Good ‘Til Cancel (GTC) and Good ‘Til Date (GTD) order types at the following levels:

• Account + Execution Firm + Exchange
• Account + Execution Firm + All Exchanges supported by Clearing Firm

Cancel functionality will be available through the RMI API only. The RMI GUI does not support cancel functionality.

Please Note: For order cancellation, the account value submitted in RMI API cancel instruction must match account value in the orders submitted by the execution firm, including case sensitivity.

Access to RMI is limited to Clearing Members Firms’ certified proprietary and third-party risk management applications. The Client Impact Assessment for the RMI API Cancel Functionality is available  online.

A new mandatory RMI cancellation certification suite will be available via Autocert+ on Monday, July 23.

The RMI API Cancel Functionality will be available for customer testing in New Release on Monday, July 23.

Please contact your  Global Account Manager at 312 634 8700, in Europe at 44 203 379 3754, or in Asia at 65 6593 5574 for access to the RMI API.

Bursa Malaysia Derivative Options on Crude Palm Oil Futures (OCPO)
Effective Sunday, July 15 (trade date Monday, July 16), pending Malaysian Securities Commission approval, Bursa Malaysia Derivative will list options on Crude Palm Oil futures (tag 1151-SecurityGroup=OCPO) for trading on CME Globex.

This product introduces a new format for tag 107-SecurityDesc (Example: OCPOJUL120335000C), as detailed below:

The new option product and naming convention is currently available in New Release for customer testing.

Please note: tag 107-SecurityDesc will remain unchanged for all other Bursa Malaysia Derivative futures and options.

Expansion of Listings for Nikkei 225 Dollar Futures
Effective Sunday, July 15 (trade date Monday, July 16), CME Group will expand the listing of Nikkei 225 Dollar futures (tag-1151 SecurityGroup=NKD, tag 55-Symbol=NK) on CME Globex by adding 2 additional quarterly contract months, for a total of 4 quarterly contracts. Currently, only 2 quarterly contracts are listed.

The new future quarterly contracts are currently available for customer testing in New Release.

CME Group Live Webinar: CME Globex Technology Update
Global Account Management at CME Group invites you to a live webinar and interactive discussion on Thursday, July 12. Topics will include:

• Growth, Accomplishments and Enhancements
• 2012 CME Globex Performance Release
• FIX/FAST Operator Release
• Performance and Bandwidth Projections

WHEN
Thursday, July 12
9:00 a.m. CT

WHERE
Online live webinar

In advance of the event, customers are encouraged to submit any questions they may wish to have answered during the session to their   Global Account Manager.

  Click here to register.

 CME Globex Disaster Recovery
CME Group is committed to the protection of its members, employees and stakeholders and has a long history of successfully managing risk. In keeping with those traditions, CME Group has a comprehensive business continuity program in place. To ensure customer readiness CME Group offers Simulated CME Globex Disaster Recovery (DR) testing which will be held on Saturday, August 4.

Simulated CME Globex DR testing is designed to ensure customers can successfully failover to the DR environment, send orders and fallback to the production environment in case of an emergency. Customers are required to register  online and in advance to participate. Disaster Recovery IPs and ports have been distributed by your CME Global Account Manager.

Complete information on the CME Group business continuity program, including Frequently Asked Questions and DR Client Impact Assessment, is available  online.

The Simulated CME Globex DR testing will begin at 9:30 a.m. Central Time (CT) and conclude at 1:00 p.m. CT. A detailed timeline is available in the  overview.

For more detailed information on the Simulated CME Globex DR testing, please contact your  Global Account Manager.

 CME Group Internal Testing
On Saturday, August 11 and 18, 2012, CME Group will conduct internal testing, during which FIX/FAST messages will be published in the CME Globex production environment. During this test, customers will be unable to connect to their iLink sessions.

CME Group strongly recommends that customers do not attempt to connect to the CME Globex production environment on Saturday, August 11 and 18. At the conclusion of testing, CME Group will clear all test data in preparation for the regular market open on Sunday, August 12 and 19. In the event customers must bring up their systems on Saturday, we strongly encourage customers to verify that all test data from Saturday is cleared out of their systems prior to Sunday start-up.

If you have any questions, please contact the  CME Global Command Center at 312 456 2391, in Europe at 44 20 7623 4708, or in Asia at 65 6223 1357.

 Earlier Final Daily Settlement Messages via FIX/FAST
Effective Monday, August 20, the FIX/FAST final daily settlement messages will be disseminated Monday through Thursday as early as 5:30 p.m. Central Time (CT). Currently, most of these settlements are disseminated between 7:00 p.m. and 9:30 p.m. CT.

The final daily settlement price is the official daily settlement published by CME Clearing and disseminated after the start of the next trading day on CME Globex, Monday through Thursday.

Certification is not required and there are no new templates. Customers and system providers are encouraged to test the earlier timing thoroughly in New Release starting Monday, July 16.