CME Globex Notices: August 6, 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.

Starting on Sunday, August 12, 2012, the current Production channels without operators will also be available in the Certification environment.

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).

 Green Exchange Product Migration to NYMEX
As previously announced, all existing Green Exchange products will be delisted from Green Exchange and will be listed under the NYMEX starting Sunday, August 26, 2012 (trade date Monday, August 27).

These products will use the same Symbol (tag 55) and SecurityGroup (tag 1151) as they do today, however the value in tag 207-SecurityExchange will be updated from GREE to XNYM.

Market data for these products will continue to be available on the current FIX/FAST channels:

• Channel 18 - NYMEX emissions futures (currently known as Green Exchange futures)
• Channel 19 - NYMEX emissions options (currently known as Green Exchange options)

These products are currently available in New Release with the new tag 207 value XNYM for customer testing.

Please Note: For the August 26 launch, customers are asked to please cancel all Good 'Till Cancel (GTC) and Good 'Till Date (GTD) orders for Green Exchange futures and options after their respective closes on Friday, August 24. After 16:30 CT on Friday, August 24, all remaining GTC and GTD orders for these products will be cancelled by the Global Command Center (GCC). GTC and GTD orders may be re-entered during the pre-open period on Sunday, August 26.

If you have any questions, please contact the GCC in the U.S. at 312.456.2391 or in Europe at 44.20.7623.4708.

 CME Globex Performance Release - Mock Trading Details Now Available!
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. An   overview of the mock trading sessions is now available. Customers must register  online to participate.

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 Thursday, October 4. Mass Quote sessions that wish to participate in the Early Adopter phase must be designated no later than Wednesday, September 19. 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.

For an overview of the Globex Performance Release, please see the  CME Globex Technology Update 2012 webinar or the  presentation is also available.

Please contact your  Global Account Manager with any questions or concerns in the U.S. at 312 634 8700, in Europe at 44 203 379 3754, or in Asia at 65 6593 5574 for additional 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 is currently available via Autocert+.

The RMI API Cancel Functionality is currently available in New Release for customer testing.

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

Apple Juice Concentrate Futures and Options
Effective this Sunday, August 12 (trade Monday, August 13),   Apple Juice Concentrate (AJC) futures and options will be available for trading on CME Globex.

These futures are currently available for customer testing in New Release.

These contacts are listed with, and subject to, the rules and regulations of MGEX.

Natural Gas Futures and Spreads
Effective Sunday, September 30 (trade date Monday, October 1), forty-three natural gas futures, futures strips and intercommodity spreads will be listed on CME Globex pending regulatory review periods. A complete list product names and codes are available  online.

With this launch, the following new spread types will be introduced.

• Futures Strip Spread (tag 762-SecuritySubType=SA)
• Balanced Strip Spread (tag 762-SecuritySubType=SB)
• Unbalanced Strip Spread (tag 762-SecuritySubType=WS)
• Inter-commodity Strip Spread (tag 762-SecuritySubType=XS)

Detailed descriptions of these spread types are available  online.

The production launch date will be announced in the CME Globex Notices as soon as it is available.

These futures, futures strips and intercommodity spreads are currently available for customer testing in the New Release.

Starting on Monday, August 13, 2012, these futures, and intercommodity spreads will be available on the Certification environment through September 10, 2012.

These contacts are listed with, and subject to, the rules and regulations of NYMEX.

Temporary Delisting of Eleven Natural Gas Basis Swap Futures
Effective this Sunday, August 12, (trade date Monday, August 13), the following natural gas basis swaps futures will be temporarily delisted from CME Globex.

These contacts are listed with, and subject to, the rules and regulations of NYMEX.

CME Globex Credit Controls (GC2) Mid-Week Firm Add
Effective this Sunday, August 12, clearing firms will have the ability to apply credit controls to CME Globex Execution Firms created or transferred during mid-week.

CME Group Internal Testing
This Saturday, August 11 and Saturday 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 in the U.S. 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.

Revised CME Globex Messaging Efficiency Program
Pending all relevant regulatory review periods, effective January 2, 2013, CME Group will revise the CME Globex Messaging Efficiency Program (“Program”) to more effectively target messaging that can negatively impact system performance, impair efficient access to the market and create unnecessary infrastructure and processing costs for market participants. Under the revised Program, CME Group will apply the Product Group Benchmarks at the executing firm level rather than at the clearing firm level.

Additionally, the revised Program includes messaging tiers and expanded Product Group Benchmarks as well as a refined appeals process for messaging surcharges.

Starting in October 2012, CME Group will begin distributing executing firm level messaging statistics to allow sufficient time for appropriate adjustments in messaging practices in advance of the revised Program becoming effective. Enforcement of the revised Program will begin trade date January 2, 2013. Please note that CME Group will continue to enforce the existing Program through December 31, 2012.

Under the revised Program, exceeding the established Product Group Benchmarks will result in executing firm surcharges of $1,000 per product group, per day. As a result, CME Group strongly encourages executing firms and their customers to evaluate their messaging practices to ensure compliance with the revised Program.

Detailed information on the CME Globex Messaging Efficiency Program is available  online.

For additional information, please contact your  Global Account Manager in the U.S. at 312 634 8700, in Europe at 44 203 379 3754, or in Asia at 65 6593 5574.