CME Globex Notices: September 04, 2012

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, launch schedules and fallback procedure, 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.

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).

U.S. Midwest #1 Busheling Ferrous Scrap (AMM) Futures
Effective this Sunday, September 9 (trade date Monday, September 10), U.S. Midwest #1 Busheling Ferrous Scrap (AMM) futures (tag1151-SecurityGroup=BUS, tag 55-Symbol=ST) will be listed for trading on CME Globex.

The U.S. Midwest #1 Busheling Ferrous Scrap (AMM) futures are cash settled monthly futures contract based on AMM U.S. Midwest #1 Busheling index. The contract will provide risk management and pricing discovery for the steel industry.

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

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

Short-Dated New Crop Wheat Options
Effective this Sunday, September 9 (trade date Monday, September 10), Short-Dated options on New Crop Wheat futures will be listed for trading on CME Globex.

Short-Dated New Crop Wheat options are options on July Wheat futures with earlier expiry dates than the standard options. For the July futures contract, three earlier expiring options will be listed.

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

These contracts are listed with, and subject to, the rules and regulations of CBOT.

Natural Gas Futures and Spreads
Effective Sunday, September 30 (trade date Monday, October 1), 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.

Starting on Monday, August 13, 2012, these futures, and intercommodity spreads will be available on the Certification environment through September 10, 2012. A detailed schedule of New Release availability is available  online.

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

Expansion of Silver Options Listing
Effective this Sunday, September 9 (trade date Monday, September 10), the listing cycle for Silver options (tag 1151-SecurityGroup=SO, tag 55-Symbol=SO) will be expanded to list the nearest six contract months (cycle and non-cycle).

Currently, only the nearest two maturities of the non-cycle months (January, February, April, June, August, October and November) are listed in addition to the nearest five maturities of the cycle months (March, May, July, September, and December).

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

These contracts are listed with, and subject to, the rules and regulations of COMEX.

Delisting of Two Electricity Swap Futures
Effective Sunday, September 9, (trade date Monday, September 10), the following electricity swap futures contracts futures will be delisted from CME Globex.

The delisting of the electricity swap futures are currently available for customer testing in New Release.

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

 New Equity Price Banding
Effective Sunday, September 16, 2012 (for trade date Monday, September 17), the price banding values for the outright futures contracts in the following equity product groups will be modified. With this change, the price banding value will be equal to the respective Non-Reviewable range for each outright product.

Additional information on price banding functionality is available  online.

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.

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.