• CME Globex Notices: August 18, 2014

      • To
      • CME Globex and Market Data Customers
      • From
      • Global Account Management
      • #
      • 20140818
      • Notice Date
      • 21 August 2014
      • Effective Date
      • 21 August 2014

    • Topics in this issue include:

      Critical System Updates

      Access to CME Group Public FTP Site

      Due to recent changes made to ftp.cmegroup.com, CME Group recommends that customers use ftp.cmegroup.com Domain Name System (DNS) to connect to the ftp site. The DNS method is always guaranteed to result in a successful connection. Connection to any of the individual IP addresses associated with ftp.cmegroup.com is not guaranteed.

      Effective close of business this Friday, August 22, customers will no longer be able to access ftp.cmegroup.com utilizing legacy public IP addresses.

      Please note: The new IP addresses will only be given out on a case-by-case basis.

      This update to the public FTP doesn't impact the CME Group secure SFTP site that firms utilize to upload or download clearing data.

      If you have any questions, please contact the CME Global Command Center in the U.S. at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010.

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      Market Depth Change to 10-Deep for FX Futures on MDP Channel 60

      Effective this Sunday, August 24 (trade date Monday, August 25), 10-deep market data will be launched for FX futures on CME Globex (Market Data Platform channel 60). This launch will impact all client systems because all systems must process all 10 book levels, even if you choose to display 5-deep order books.

      10-deep futures order book for FX futures on MDP Channel 60 are currently available for customer testing in New Release.

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      Streamlined FIX/FAST – IP Address Change for OTC Channels

      Effective this Sunday, August 24 (trade date Monday, August 25), CME Group will change source IPs for streamlined FIX/FAST MDP channels 170 - CME Credit OTC and 172 - CME Cleared OTC.

      Streamlined FIX/FAST – IP Address Change for OTC Channels
      Channel Incremental Feed Current Source IP Address New Source IP Address
      Channel 170 - CME Credit OTC
      (Incremental Feed Only)      		 A Feed 205.209.220.68
      205.209.222.68      		 205.209.220.69
      205.209.222.69
      B Feed 205.209.213.43
      205.209.213.44      		 205.209.213.45
      205.209.214.39
      Channel 172 – CME Cleared OTC
      (Incremental Feed Only)      		 A Feed 205.209.220.68
      205.209.222.68      		 205.209.220.69
      205.209.222.69
      B Feed 205.209.213.43
      205.209.213.44      		 205.209.213.45
      205.209.214.39

      The new source IPs will be available in the config.xml on Sunday, August 24.

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      RFQ and RFC Timer Increase

      Effective this Sunday, August 24 (trade date Monday, August 25), the waiting time period between the entry of a Request for Quote (RFQ) and a Request for Cross (RFC) for CME and CBOT interest rate options will be increased from five seconds to 15 seconds.

      Additional information on this change is available online.

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

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      New iLink Architecture

      In Q1 2014, CME Group launched the first Phase of new iLink Architecture, Market Segment Gateway (MSGW) for TAS markets only. In Q1 2015, CME Group will launch Phase 2 of this initiative, which will implement Market Segment Gateways throughout the rest of the iLink infrastructure, to provide:

      • FIFO ordered message handling per market segment.
      • Elimination of variability associated with multiple sessions across multiple gateways.

      All customers are encouraged to review the new iLink Architecture Client Impact Assessment.

      The Phase 2 launch will allow customers to access the Market Segment Gateways directly which will involve a new session ID model, messaging and functionality changes. Customers may choose to access CME Globex markets through the MSGWs or the current Convenience Gateways (CGWs), which will continue to be supported and will route through the MSGWs.

      Phase 2 will be launched over several weekends. Prior to each launch weekend, CME Group will conduct a mock trading session. MSGWs will be available in New Release for customer testing in Q4 2014. A new MSGW certification suite will be available in AutoCert+ in Q4 2014. Customer systems who want to connect directly to the MSGW must complete this mandatory certification. Additional information on the MSGW launch schedules and mock trading sessions will be published in the CME Globex Notices.

      Please contact your Global Account Manager with any questions or concerns in the U.S. at +1 312 634 8700, in Europe at +44 203 379 3754 or in Asia at +65 6593 5505 for additional information.

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      New iLink Failover Process

      Beginning in October 2014, CME Group will introduce a new iLink failover process to improve customers’ ability to recover from a CME Globex component failure.

      When a CME Globex component fails over from the primary to backup instance, customer iLink messages will be rejected with Session Level Reject (tag 35=3) messages including tag 58=Technical Error – Market Segment: <MarketSegmentID> is not available at this time. After the backup instance is up, order entry will be allowed again.

      Currently messages sent during failover are not guaranteed to be acknowledged by CME Globex. This new iLink Failover Process change will affect all iLink sessions.

      Detailed information including this failover behavior change is now available online.

      The new iLink failover process will be available for customer testing in New Release in September.

      Further details on the launch schedule will be published in future CME Globex Notices.

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      Update - New CME Globex Market Data Protocol

      Beginning on September 28, 2014 (trade date Monday, September 29), CME Group will introduce Market Data Platform (MDP) 3.0, a low latency and direct data access solution designed to improve customers' ability to process and act on real-time price information. The new MDP 3.0 Channels will run in parallel with the current FIX/FAST Channels for six months after completion of the rollout of all MDP 3.0 channels.

      The new Market Data Platform implementation will occur according to the following schedule:

      MDP 3.0 Release Schedule
      Date Channels
      Sunday, September 28 342 CBOT Globex Equity Index Futures
      313 CME Globex Interest Rate Options
      Sunday, October 12 310 CME Globex Equity Futures
      314 CME Globex FX Futures
      315 CME Globex FX Options
      317 CME Globex Commodity Options
      318 CME Globex Equity Futures - excludes E-mini S&P 500
      320 CME Globex FX Futures II
      321 CME Globex FX Options II
      360 COMEX Globex Futures
      384 NYMEX Globex Metals, Softs, & Alternative Market Futures
      Sunday, November 2  311 CME Globex Equity Options
      312 CME Globex Interest Rate Futures
      316 CME Globex Commodity Futures
      319 CME Globex Equity Options - excludes E-mini S&P 500
      340 CBOT Globex Commodity Futures
      341 CBOT Globex Commodity Options
      343 CBOT Globex Equity Index Options
      344 CBOT Globex Interest Rate Futures
      345 CBOT Globex Interest Rate Options
      346 CBOT Globex Commodity Futures II
      361 COMEX Globex Options
      380 NYMEX Globex Emissions Futures
      381 NYMEX Globex Emissions Options
      382 NYMEX Globex Crude & Crude Refined Futures 
      383 NYMEX Globex Crude & Crude Refined Options
      385 NYMEX Globex Metals, Softs, & Alternative Market Options
      386 NYMEX Globex Nat Gas & other Non-Crude Energy Futures
      387 NYMEX Globex Nat Gas & other Non-Crude Energy Options 
      410 CME Europe Globex Futures
      430 BMD Globex Futures 
      431 BMD Globex Options
      440 DME Globex Futures
      441 DME Globex Options
      450 KRX Globex Futures
      460 MGEX Globex Futures
      461 MGEX Globex Options

      Customer systems receiving market data via CME Globex must complete mandatory certification via AutoCert+.

      Important MDP 3.0 Updates:

      • The final version of the MDP 3.0 protocol with Trade Summary Message is currently available for customer testing in New Release.
      • The MDP 3.0 AutoCert+ certification suite is now available for customer testing in New Release.
      • The config.xml file for the Production Environment is now available on the CME Group ftp site. The file contains the Source and Multicast IP addresses for the Production Market Data Channels. It will not contain the Product or Group Codes until the channels start receiving messages on their scheduled production date.
      • A new version of the Schema file, Version 5, will be available for the New Release Environment on Monday, August 25.
        • The only change will be an adjustment of the encoding of the second group dimension, NoOrderIDEntries (tag 37705), of the Market Data Incremental Refresh Message (tag 35-MsgType=X), so that this repeating group entry begins on an 8-byte boundary.
        • Please verify the necessary SBE updates with Real Logic Ltd.
        • A Mock Trading Session will be held on Saturday, September 27. Details will be available in future Globex Notices

      MDP 3.0 includes:

      • Simple Binary Encoding (SBE); replaces the current FAST compression model
      • FIX 5.0 (SP2) Market by Price messaging formats
      • Event-driven market price and trade information
      • Enhanced market state dissemination
      • Increased timestamp granularity
      • Opt-In functionality for Order identifier on both market data and order entry messages

      The client impact assessment, functional specifications, and message specifications provide detailed functionality and messaging information.

      MDP 3.0 channels and functionality are currently available in New Release.

      Please contact your Global Account Manager with any questions or concerns in the U.S. at +1 312 634 8700, in Europe at +44 203 379 3754 or in Asia at +65 6593 5505 for additional information.

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      MDP 3.0 Decoder

      Real Logic Ltd. and Informatica have collaborated to create open source tools that provide extensive support for Simple Binary Encoding (SBE), the messaging standard developed through the Financial Information Exchange (FIX) Trading Community. The SBE decoders will create an environment that can be used directly by customers or treated as a reference implementation that can be extended into custom solutions tailored to individual customer's needs. The information and tool are open to the public under an Apache Public License and available here.

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      iLink and Drop Copy Enhancements for MDP 3.0 Trade Summary Message

      Effective September 2014, with the production launch of MDP 3.0, iLink will introduce opt-in functionality for displaying tag 37-OrderID in the MDP 3.0 trade summary message (tag 35-MsgType=X). Tag 37 is the anonymous, CME Globex-assigned order identifier.

      Customers may choose to opt-in their orders using the FPL-defined FIX tag 1091-PreTradeAnonymity. The Trade Summary message, which announces the trade to the marketplace, will include tag 37 values for orders where tag 1091=N. Tag 37 values will be published on market data for trades only.

      Drop Copy will also support the new tag 1091 at launch.

      The new iLink tag 1091 can be submitted on the following messages:

      • New Order (tag 35-MsgType=D)
      • Order Cancel/Replace Request(tag 35-MsgType=G)
      • New Order Cross (tag 35-MsgType=s)
      • Mass Quote (tag 35-MsgType=i)

      Tag 1091 will be returned on the following iLink messages only when a valid value is sent on the originating message:

      • Execution Report: Order Creation or Modify (tag 35-MsgType=8, OrdStatus=0 or 5)
      • Execution Report: Order Cancel(tag 35-MsgType=8, OrdStatus=4)
      • Execution Report: Fill Notice (tag 35-MsgType=8, tag 39-OrdStatus=1 or 2)
        • only for spreads and outrights
      • Execution Report: Order Elimination (tag 35-MsgType=8, tag 39-OrdStatus=4 or C)
      • Execution Report: Reject (tag 35-MsgType=8, tag 39-OrdStatus=8)
      • Order Cancel/Replace Reject (tag 35-MsgType=9, tag 434-CancelRejResponseTo=2)
      • Quote Acknowledgement (tag 35-MsgType=b)

      tag 1091-PreTradeAnonymity
      Tag FIX Name Req Valid Values Format Description
      1091 PreTradeAnonymity N Y
      N      		 Boolean (1) Defines whether the tag 37-OrderID will be included in the Trade Summary message in MDP 3.0.
      If tag is not sent or sent with “Y”, tag 37 value will not appear in the Trade Summary message.
      If tag is sent with “N”, tag 37 will appear in the Trade Summary message.

      If the tag 1091 value exceeds the max length of 1 byte, New Orders and Order Cancel/Replace Requests will be rejected with a Session Level Reject (35=3) and Mass Quotes and New Order Cross will be rejected with a Business Level Reject message (35=j) with tag 380-BusinessRejectReason = 0. Any invalid value will be ignored and the tag 37 will not be displayed in the Trade Summary message.

      Current iLink message specifications are available online.

      Certification is not required for iLink and Drop Copy customers who wish to use the new opt-in tag 1091. All customers are required to certify for and migrate to the new MDP 3.0 market data.

      Tag 1091 is currently available for customer testing in New Release.

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      TOP Order Allocation Minimum/Maximum Quantity Changes

      Effective Sunday, October 5 (trade date Monday, October 6), pending regulatory approval, the TOP order allocation maximum quantity will be changed for the following Interest Rate products.

      This change is designed to harmonize TOP behavior across the CME Group Interest Rate futures. This match algorithm enhancement will be available in the New Release Environment for customer testing on Monday, August 25.

      TOP Order Allocation Quantity Changes
      Instrument FIX/FAST and iLink: tag 1151-Security Group
      MDP 3.0: tag 6937-Asset      		 Strategy Type TOP Order Allocation Minimum Current TOP Order Allocation Minimum Future TOP Order Allocation Maximum Current TOP Order Allocation Maximum Future
      30-Day Fed Funds Futures ZQ Outrights
      Spreads (SP, BF, CF, FS)      		 25 1 250 30000
      2-Year U.S. Treasury Note Futures ZT Outrights
      Butterfly Spreads ( BF)      		 1 1 1500 19999
      ZT Standard Calendar Spread (SP) 1 1 1500 29999
      3-Year U.S. Treasury Note Futures Z3N Outrights
      Butterfly Spreads ( BF)      		 1 1 1500 19999
      Z3N Standard Calendar Spread (SP) 1 1 1500 29999
      5-Year U.S. Treasury Note Futures ZF Standard Calendar Spread (SP) 1 1 2500 29999
      ZF DSF-Treasury Spread (DI) 1 1 2500 29999
      10-Year U.S. Treasury Note Futures ZN Reduced Tick Calendar Spread (RT) 1 1 2500 29999
      ZN DSF-Treasury Spread (DI) 1 1 2500 29999
      U.S. Treasury Bond Futures ZB Reduced Tick Calendar Spread (RT) 1 1 2500 29999
      Ultra T-Bond Futures UB Reduced Tick Calendar Spread (RT) 1 1 2500 29999
      UB DSF-Treasury Spread (DI) 1 1 2500 29999

      This change is designed to harmonize TOP behavior across the CME Group Interest Rate futures. This match algorithm enhancement will be available in the New Release Environment for customer testing on Monday, August 25.

      More information about TOP functionality is available in the Client Systems Wiki.

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      Product Launches

      Freight Futures

      Effective this Sunday, August 24 (trade date Monday, August 25), the following freight future will be listed for trading on CME Globex.

      Freight Futures
      Product FIX/FAST and iLink: tag 1151-Security Group
      MDP 3.0: tag 6937-Asset      		 FIX/FAST and iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group
      Capesize 2014 Timecharter Average (Baltic) Futures CF2 FT

      This freight future is currently available for customer testing in New Release.

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

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      Natural Gas Weekly Financial Options

      Effective Sunday, September 7 (trade date Monday, September 8), the following Natural Gas Weekly Financial Options will be listed for trading on CME Globex.

      Natural Gas Weekly Financial Options

      Product

      		 FIX/FAST and iLink: tag 1151-Security Group
      MDP 3.0: tag 6937-Asset      		 FIX/FAST and iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group
      (Outrights)      		 FIX/FAST and iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group
      (UDS)
      Natural Gas Weekly 1 Financial Option LN1 GZ 1T
      Natural Gas Weekly 2 Financial Option LN2 GZ 1T
      Natural Gas Weekly 3 Financial Option LN3 GZ 1T
      Natural Gas Weekly 4 Financial Option LN4 GZ 1T
      Natural Gas Weekly 5 Financial Option LN5 GZ 1T

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

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

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      Eurodollar Bundle Futures and Options

      Effective Sunday, September 21 (trade date Monday, September 22), the following Eurodollar Bundle futures and options will be listed for trading on CME Globex, open outcry and for submission for clearing through CME ClearPort.

      Eurodollar Bundle Futures and Options

      Product

      		 FIX/FAST and iLink: tag 1151-Security
      Group MDP 3.0: tag 6937-Asset      		 FIX/FAST and iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group
      (Outrights)      		 FIX/FAST and iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group
      (UDS)
      2-Year Eurodollar Bundle Futures BU2 GG --
      2-Year Eurodollar Bundle Options BU2 U1 U2
      3-Year Eurodollar Bundle Futures BU3 GG --
      3-Year Eurodollar Bundle Options BU3 U1 U2
      5-Year Eurodollar Bundle Futures BU5 GG --
      5-Year Eurodollar Bundle Options BU5 U1 U2

      The Eurodollar Bundle futures and options will be available in the New Release for customer testing on Monday, September 8.

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

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      Korea Exchange (KRX) USD/KRW FX Futures

      Effective Q4 2014, Korea Exchange (KRX) will list USD/KRW FX futures (tag1151-SecurityGroup=KUF, tag 55-Symbol=KR) for trading on CME Globex, pending regulatory approval.

      Korea Exchange (KRX) USD/KRW FX Futures
      Product FIX/FAST and iLink: tag 1151-Security
      Group MDP 3.0: tag 6937-Asset      		 FIX/FAST and iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group
      USD/KRW FX futures KUF KR

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

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

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      Product Changes

      Gasoil Crack Spread Futures Listing Changes

      Effective this Sunday, August 24 (trade date Monday, August 25), the listing cycle for the following Gasoil Crack spread futures will be expanded on CME Globex.

      Gasoil Crack Spread Futures Listing Changes
      Product FIX/FAST and iLink: tag 1151-Security Group
      MDP 3.0: tag 6937-Asset      		 FIX/FAST and iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Current Listing Rule New Listing Rule
      Gasoil Crack Spread (1000mt) Financial Futures GOC RF The last maturity is December 2014 Monthly maturities shall be listed for the current year +6
      European Gasoil Brent Crack Spread Futures GZ PT The last maturity is December 2014 Monthly maturities shall be listed for the current year +6
      European Gasoil Financial Futures AGX RF Monthly maturities shall be listed for the current year +1 Monthly maturities shall be listed for the current year +6

      These are currently available in New Release for customer testing.

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      New - Wheat-Corn Intercommodity Spread Change

      Effective Sunday, September 7 (trade date Monday, September 8) the Wheat-Corn intercommodity spread on CME Globex will be modified to Wheat futures minus Corn futures (tag 1151-Security group=ZW-ZC, tag 55-Symbol=ZW). Currently, Wheat-Corn intercommodity spread is listed as Corn futures minus Wheat futures (tag 1151-Security group=ZC-ZW, tag 55-Symbol=ZW).

      Wheat-Corn Intercommodity Spread Change

      Product

      		 Current Tag-1151-SecurityGroup Current Tag-55-Symbol New Tag-1151-SecurityGroup New Tag-55-Symbol
      Wheat-Corn Intercommodity Spread ZC-ZW ZW ZW-ZC ZW

      With this change, the Wheat-Corn intercommodity spread on CME Globex will be consistent with the Wheat-Corn spread construction on open outcry and consistent with the orientation of the CBOT Wheat-Corn intercommodity spread option.

      The Wheat-Corn intercommodity spread reflects one Wheat futures contract of a specified maturity, and one opposing Corn futures contract of a maturity month. The Wheat-Corn intercommodity spread will be calculated as the Wheat futures price in centsper bushels – the Corn futures price in centsper bushels.

      To facilitate these changes, customers are asked to cancel all Good 'Till Cancel (GTC) and Good 'Till Date (GTD) orders for the impacted spread after their close on Friday, September 5. After 16:00 CT on Friday, September 5, all remaining GTC and GTD orders for these spreads will be cancelled by the CME Group Global Command Center (GCC).

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

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      New - Matching Algorithm Harmonization for Equity Products

      Effective Sunday, September 21 (trade date Monday, September 22), pending regulatory approval, the CME Globex match algorithm for the following equity products will be modified "F" FIFO to be consistent with other CBOT and CME equity products.

      Matching Algorithm Harmonization for Equity Products

      Product

      		 FIX/FAST and iLink: tag 1151-Security
      Group MDP 3.0: tag 6937-Asset      		 FIX/FAST and iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Current Match Algorithm New Match Algorithm
      CBOT Dow Jones Industrial Average Index Futures ($10 Multiplier) Calendars Spreads ZD ZD O F
      CBOT E-mini Dow Jones Industrial Average Index Futures ($5 Multiplier) Calendars Spreads YM YM O F
      CBOT Dow Jones Industrial Average Index Futures ($25 Multiplier) Calendars Spreads DD DD O F
      CBOT US Real Estate Index Futures RX RX T F
      CME Master Limited Partnership Futures MLP MP K F
      CME Quarterly and Serial Options on Yen Denominated Nikkei Stock Average Futures Quarterly: NKW
      Serial: NKY      		 Quarterly: N3
      Serial: N4      		 K F

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

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      New - KC HRW Wheat Futures Matching Algorithm

      Effective Sunday, September 21 (trade date Monday, September 22), pending regulatory approval, the CME Globex match algorithm for KC HRW Wheat futures and spreads will be modified to "K" (40/60 FIFO Pro-Rata). Currently, the match algorithm is "O" 100 percent Pro-Rata.

      KC HRW Wheat Futures Matching Algorithm
      Product FIX/FAST and iLink: tag 1151-Security Group
      MDP 3.0: tag 6937-Asset      		 FIX/FAST and iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group
      KC HRW Wheat futures and spreads KE KE

      With this change, the CME Globex match algorithm for KC HRW Wheat futures and spreads will be consistent with other CBOT grain & oilseed products.

      This change will be available in New Release for customer testing on Monday, September 8.

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      New - Match Algorithm Changes for 5-Year, 3-Year and 2-Year Treasury Note Futures Calendar Spreads

      Effective Sunday, October 5 (trade date Monday, October 6), pending regulatory approval the CME Globex match algorithm for the 5-Year, 3-Year and 2-Year Treasury Note futures calendar spreads will be modified to a 20% FIFO/80% Pro-Rata split. Currently, the match algorithm is 100% Pro-Rata.

      Match Algorithm Changes for 5-Year, 3-Year and 2-Year Treasury Note Futures Calendar Spreads

      Product

      		 FIX/FAST and iLink: tag 1151-Security Group
      MDP 3.0: tag 6937-Asset      		 FIX/FAST and iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 tag 762-SecuritySubType
      2-Year U.S. Treasury Note Futures ZT ZB SP
      3-Year U.S. Treasury Note Futures Z3N ZB SP
      5-Year U.S. Treasury Note Futures ZF ZB SP

      FIX tag 1142-MatchAlgorithm will remain "K" for these products.

      This change will be available in the New Release Environment for customer testing on Monday, August 25.

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

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      Korea Exchange (KRX) Listing Cycle Expansion for KOSPI 200 Futures

      Effective Q4 2014, Korea Exchange (KRX) will list three additional expiration months whose expiration is longer than one year for KOSPI 200 futures (tag1151-SecurityGroup=K2F, tag 55-Symbol=K2) for trading on CME Globex, pending regulatory approval.

      Korea Exchange (KRX) Listing Cycle Expansion for KOSPI 200 Futures
      Product FIX/FAST and iLink: tag 1151-Security Group
      MDP 3.0: tag 6937-Asset      		 FIX/FAST and iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group
      KOSPI 200 futures K2F K2

      The new expiration months are currently available for customer testing in New Release.

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

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Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

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