CME Globex Notices: March 18, 2013

 Bursa Malaysia Derivative Berhad New External Instrument Naming Convention
Effective Sunday, June 2 (trade date Monday, June 3), Bursa Malaysia Derivative Berhad (BMD) will introduce a new external instrument naming convention for futures, options and spreads listed on CME Globex. This change will make these products easier to support by aligning the convention with that of CME Globex.

The Client Impact Assessment with details on these changes is now available online.

To facilitate these changes, customers are asked to cancel all Good 'Till Cancel (GTC) and Good 'Till Date (GTD) orders for all contracts after their close on Friday, May 31. After 16:00 CT on Friday, May 31 all remaining GTC and GTD orders for BMD products will be cancelled by the CME Globex Control Center (GCC).

The new BMD instruments will be available for customer testing in New Release on Monday, April 7.

CME Group recommends that customers purge and re-load their instrument databases on Sunday, June 2.

Market Data Enhancements for BM&FBOVESPA via CME Globex
 

Effective Sunday, March 24, 2013, the following market data enhancements will be implemented for the Brazilian Mercantile and Futures Exchange/Sao Paulo Stock Exchange (BM&FBOVESPA).

These enhancements are:

• Incremental statistics messages will identify final and theoretical settlement prices;
• Incremental messages will support trade cancellations; and,
• Security Status messages will support the pre-open and auction states as well as the end of trading day.

Please Note: Due to customer feedback, CME Group will not disseminate Spread Leg information in the Security Definition message for BM&FBOVESPA at this time.

The updated client impact assessment with complete details regarding these enhancements is available  online.

Certification for these changes is not required. CME Group strongly recommends that all BM&FBOVESPA North-to-South order routing customers and system providers test the enhancements thoroughly in New Release starting on Tuesday, February 5. Test cases via AutoCert+ will be available for these enhancements beginning Monday, February 18.

A customer mock trading session will be offered on Saturday, March 23. An  overview of the mock trading session is now available. CME Group strongly encourages that all customers participate in the mock trading session to ensure their ability to receive market data. Customers who plan to participate are requested to register with their  Global Account Manager.

iLink Enhancements for MexDer via CME Globex
Effective Sunday, April 14 (trade date Monday, April 15), a number of enhancements will be launched for the Mercado Mexicano de Derivados (MexDer) North-to-South order routing solution.

These enhancements include:

• Introduction of the US Dollar Options
• Execution Report for Order Elimination – End of Session
• Execution Report for Order Cancel with incorrect side.

These changes are now available in New Release for customer testing and AutoCert+ certification. All customer order routing systems must complete the mandatory iLink and Fix/Fast certification via AutoCert+.

The Client Impact Assessment is now available  online.

Interest Rate Intercommodity Spreads
Effective Sunday, May 5 (trade date Monday, May 6), a new Interest Rate Intercommodity Spread type (tag 762-SecuritySubType=DI) will be introduced on CME Globex. With this launch, the 762-SecuritySubType value for the following intercommodity spreads will be modified from IS to DI and implied functionality will be enabled.

In addition, a new futures intercommodity implied spread will be listed for trading on CME Globex.

Detailed description of Inter-Commodity Implied spread type is available  online.

The new spread type and new intercommodity spread will be available in New Release for customer testing on Monday, March 18.

 Streamlined FIX/FAST for Block Trades
Starting on Sunday, May 12, 2013, CME Group will begin disseminating Block Trade market data via streamlined FIX/FAST. A Block Trade is a privately negotiated futures or option on futures transaction that is executed apart from the public auction market and that is permitted in designated contracts subject to specified conditions.

Streamlined FIX/FAST is an optimized version of the FIX/FAST market data format for non-actionable price data. Streamlined FIX/FAST has a dedicated message specification distinct from the CME Globex FIX/FAST format and new templates.

Block Trade market data will be available in New Release for customer testing on Monday, March 24. An optional AutoCert+ Test Suite will available at the beginning of April. The availability of the new AutoCert+ Test Suite will be announced via the CME Globex and Market Data Notices.

Detailed information for streamlined FIX/FAST market data for Block Trades is available  online.

Block Trade market data is fee-liable. For additional details, please contact the  Information Products Management at 312 634 8395.

Energy Futures and Options
Effective this Sunday, March 24 (trade date Monday, March 25), 393 energy futures and options will be listed for trading on CME Globex pending regulatory review periods. A complete list of product names and codes are available   online.

Settlement prices will be published for the synthetic futures to support customer options pricing models.

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

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

 Gasoline Euro-bob Oxy NWE Barges (Argus) Average Price Options
Effective Sunday, April 14 (trade date Monday, April 15), Gasoline Euro-bob Oxy NWE Barges (Argus) Average Price options will be listed for trading on CME Globex.

These options will be available for customer testing in New Release on Monday, March 25.

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

Variance Futures
Variance futures are currently available in the New Release environment for customer testing. The production launch date will be announced via the CME Globex and Market Data Notices.

Variance futures are based on the realized volatility of an underlying asset squared. Unlike most futures, the direction of these price changes in the underlying asset is irrelevant to the value of the Variance futures. These futures derive their value from the magnitude of the changes in price of the underlying assets, irrespective of their direction. Upon launch, these underlying assets include 4 currencies, 3 energy, and 2 metals products.

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

FIX tag 55-Symbol Changes for FX European –Style Options
Effective this Sunday, March 24, the FIX tag 55-Symbol values for the following FX European-style options will be changed as follows:

Market Data Platform channels will not be impacted.

To facilitate these changes, customers are asked to cancel all Good 'Till Cancel (GTC) and Good 'Till Date (GTD) orders for the impacted options and option spreads after their close on Friday, March 22. After 16:00 CT on Friday, March 22, all remaining GTC and GTD orders for these products will be cancelled by the CME Group Global Command Center (GCC).

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

S&P GSCI Excess Return Index Futures Minimum Tick Increment and Display Factor Changes
Effective Sunday, April 7 (trade date Monday, April 8), changes to minimum tick increment tag 969-MinPriceIncrement and tag 9787-DisplayFactor will be implemented for S&P GSCI Excess Return Index futures, pending relevant regulatory review periods.

These changes will be available in New Release for customer testing on Monday, March 25.

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

CME Globex Equity Index Circuit Breaker and Daily Price Limit Changes for Futures and Options
Effective Sunday, April 7, 2013 (trade date Monday, April 8), changes to  circuit breaker methodology and price limits will be introduced on CME Globex for Equity Index futures and options, pending regulatory review periods.

Currently, price limits are established on a quarterly basis based upon the average closing price of the lead month futures contract in December, March, June and September. With this change, the width of the equity index futures price limit band will be calculated daily, based on the underlying cash equity index.

Customers are strongly encouraged to utilize the FIX/FAST Security Status (tag 35-MsgType=f) messages to obtain the daily price limits (tag 332-HighPx; tag 333-LowPx) to avoid the rejection of orders that breach price limit thresholds.

Customers may also obtain the daily price limits from the Security Definition (tag 35-MsgType=d, tag 1149-HighLimitPrice and 1150-LowLimitPrice) messages on the instrument replay feed.

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

If you have any questions, please contact the  CME Global Command Center in the U.S. at +1 312 456 2391, in Europe at +44 20 7623 4708 or in Asia at +65 6223 1357.

Revised Trading Hours on CBOT Commodity and KCBT Wheat Futures and Options
Effective Sunday, April 7 (trade date Monday, April 8), all CBOT commodity futures and option and KCBT Wheat futures and options electronic trading hours will be modified on CME Globex. The new trading hours will be:

• Sunday to Thursday 19:00 to 07:45 Central Time (CT)
• Monday to Friday, Pause 07:45 to 08:30 CT
• Monday to Friday 08:30 to 13:15 CT

Mini-Sized Corn, Mini-Sized Soybeans and Mini-Sized Wheat will continue to trade on CME Globex until 13:45 CT.

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

The FIX/FAST preliminary settlement messages for these products will be disseminated beginning at 13:30 CT, after the CME Globex market close. Currently, the FIX/FAST messages for these products are disseminated around 14:15 CT. ITC settlement messages will continue to be sent as soon as settlement prices are available.

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