CME Globex Notices: May 11, 2015

 

Topics in this issue include:

• Critical System Updates
  • CME Globex Performance Enhancements - May 31
  • Leap Second Impact - June 30 ^New
  • MDP 3.0 Migration Schedule
  • Drop Copy 4.0 Implementation - Q3 2015
  • New iLink Architecture - Q4 2015
    • New iLink Failover Process - Q3 2015
  • iLink Session ID Policy and Operational Guidelines
• Product Launches
  • Treasury Bond vs. Ultra Treasury Bond Futures Implied Intercommodity Spread - This Week
  • CME Europe Fertilizer Futures - May 31 ^Update
• Product Changes
  • Delisting of Distillers Dried Grains Futures - This Week ^New
  • Modified Non-Reviewable Range for 30-Day Federal Fund Futures - This Week
  • Monthly-to-Daily Conversion for Power Futures - This Week
  • Second TAS Month on Copper Futures - This Week
  • Additional Eurodollar Calendar Spreads - This Week
  • Treasury Ratio Calendar Spreads - This Week
  • Product Name Change E-micro CNX Nifty Futures - This Week ^New
  • Energy Listing Cycle Expansion - Starting May 20 ^New
  • Dairy Futures Strips Change - Starting May 31
  • FIX tag Changes for CME Europe Cocoa Financial Futures - May 31
  • Implied Functionality for CME Europe FX futures - May 31
  • Changes to DME Oman Crude Oil Financial Futures - May 31 ^Update
  • Additional Eurodollar Calendar Spreads - May 31
  • Maximum Order Quantity Change for Silver Calendar Spreads - May 31 ^New
  • Minimum Price Increment Changes to EUA Futures and Options - May 31 ^New
  • Minimum Tick Increment Change to Japanese Yen/U.S. Dollar (JPY/USD) Futures - June 21
• Events and Announcements
  • iLink Session ID Policy and Operational Guidelines

 

Critical System Updates

CME Globex Performance Enhancements

Starting Sunday, May 3, CME Group implemented an enhancement to futures and options markets on the CME Globex platform. In internal testing, these enhancements reduced latency on CME Globex 5% for futures markets and 10% for options on futures.

There will be no changes to functionality or messaging format with these performance improvements. Good 'Till Cancelled and Good 'Till Date (GTC/GTD) orders will not be impacted.

CME Globex Performance Enhancements
Tag1300-MarketSegmentID	Market Segment	Production launch
52	CME FX options	May 17
54	CME Equity options
58	CBOT Treasury options
64	CME E-mini S&P 500 futures
70	CME Commodity futures
72	CBOT Commodity futures
74	Hosted Partner Exchange markets and NYMEX Emissions futures	May 31
80	NYMEX Crude Energy futures
82	CME Eurodollar futures
84	CBOT Treasury futures
86	CME Europe futures

 

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New - Leap Second Impact

CME Group uses Network Time Protocol (NTP) to synchronize time for CME Globex systems to maintain effective time accuracy. On Tuesday, June 30 (trade date Wednesday, July 1), a positive leap second will be added after 18:59:59 Central Time (CT).  A leap second is a one-second adjustment that is added to Coordinated Universal Time (UTC) to account for variability of the earth’s rotation.

To facilitate the Leap Second change and prevent any issues on CME Globex systems, all CME Globex products will have a delayed open at 19:45 Central Time (CT), 19:30 CT Pre-open, on Tuesday, June 30 ( trade date Wednesday, July 1). If a CME Globex product’s regularly scheduled open is post 19:45 CT, then that product will open regularly as scheduled.

During a leap second insertion, a UTC timestamp field will read:

20150630-23:59:59 (18:59:59 CT)
*20150630-23:59:59 (18:59:59 CT)
20150701-00:00:00 (19:00:00 CT)

CME Group systems will not send 23:59:60 timestamp, but will repeat the 23:59:59 timestamps twice.

*Please note: A timestamp of 00:00:00 will be disseminated before reverting back to 23:59:59 timestamp.

If the client's system submits an iLink message to CME Globex with the 23:59:60 timestamp, the message will be rejected with Session Level Reject message (tag 35-MSGType=3) with tag 58-Text= SendingTime(52) tag is not formatted properly: 20150630-23:59:60.000.

For more information, a Frequently Asked Questions (FAQ) guide is now available.

 

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MDP 3.0 Migration Schedule

On Sunday, December 7, 2014, CME Group completed the launch of 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.

Currently, both FIX/FAST and MDP 3.0 are considered to be "Feeds of Record." In case of market data failures, markets may be halted for either FIX/FAST or MDP 3.0 issues. CME Group will review each event individually to determine the best response.

In September 2015, MDP 3.0 will become the sole "Feed of Record" and markets will be halted for MDP 3.0 issues only. After this date, markets will not be halted for only FIX/FAST issues.

CME Group recommends all customers certify for and migrate to MDP 3.0 by September 2015 as the legacy FIX FAST feed will be eliminated in October 2015.

Important Dates
MDP 3.0 Sole Feed of Record – All Channels	September 2015
All FIX/FAST Channels Decommissioned	October 2015

Please Note: There will be no surcharges assessed to customers due to the extended decommission window.

The schedule for implementation of the MDP 3.0 format for the Order Routing Partner Exchanges, BM&FBOVESPA and MexDer (Mercado Mexicano de Derivados) is as follows:

Environment	BVMF	MexDer
New Release	July 2015	August 2015
AutoCert+ Test Suite Available	August 2015	September 2015
Production Parallel	August 2015	September 2015

Please Note: AutoCert+ Certification of the MDP 3.0 and Order Routing Partner Exchange (BVMF and MexDer) Test Suites are mandatory prior to receiving Market Data for each Order Routing Partner Exchange.

TAS Pre-Validation

Currently, order entry will be permitted in TAS (Trade at Settlement) markets as soon as the Pre-Open state message is published, regardless of whether it is received first via the FIX/FAST or MDP 3.0 feeds. As of the MDP 3.0 Feed of Record date, only the publishing of the MDP 3.0 Pre-Open state message will be valid for the start of the TAS market and TAS orders can be entered. The CME Group Market Regulation rules for TAS Transactions can be found here.

Customer systems receiving market data via CME Globex must complete mandatory certification via AutoCert+. The functional and message specifications provide detailed information.

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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Drop Copy 4.0 Implementation

In Q3 2015, CME Group will introduce a new Drop Copy implementation to provide further consistency across iLink and Drop Copy. The new Drop Copy 4.0 implementation will have both functional and messaging changes.

The new Drop Copy 4.0 implementation will include:

• Harmonized customer experience between iLink and Drop Copy
• New message format with encapsulated message type.
• New supported FIX tags on Drop Copy messages - inbound and outbound
• Harmonized resend behavior (elimination of Application Resend functionality)
• Sequencing by market segment (see: New iLink Architecture client impact assessment)
• Robust fault tolerance

An updated version of the client impact assessment is now available. The updates include additional details regarding functionality and messaging in the Drop Copy 4.0 Overview section.

The existing implementation of Drop Copy will be phased out on a date to be published in the CME Globex Notices. All customers leveraging the Drop Copy service must be certified for Drop Copy 4.0 by that date.

With the new implementation, the Drop Copy service will have a new session model where customers will have access to two types of target sessions:

• Drop Copy Convenience Gateway (CGW) target session - consumers manage sequence streams from Convenience Gateway iLink source sessions across all market segments.
• Drop Copy Market Segment Gateway target session - consumers manage sequence streams from Market Segment Gateway iLink source sessions per unique market segment; with the possibility of having the same sequence numbers from multiple market segments.

To facilitate migration to the new Drop Copy service, CME Group will support a parallel feed. Traffic from Convenience Gateway source sessions will be available via their current Drop Copy IPs and ports and via the new Drop Copy 4.0 IPs and ports. Certification is required for production access to Drop Copy 4.0. Please coordinate your migration with your CME Group Account Manager.

Upon completion of the Drop Copy 4.0 certification, customers can request Drop Copy CGW and/or Drop Copy MSGW target sessions.

Certification and New Release Drop Copy sessions will be re-issued by your to Global Account Manager upon customer request.

Drop Copy 4.0 is available in New Release for customer testing. A new Drop Copy 4.0 certification suite is available in AutoCert+. Customer systems leveraging the Drop Copy service must complete this mandatory certification.

For more information, a Frequently Asked Questions (FAQ) guide is now available.

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 Architecture

In Q4 2015, CME Group will launch Phase 2 of the new iLink Architecture, which will implement Market Segment Gateways throughout the iLink infrastructure, to provide:

• FIFO ordered message handling per market segment, and
• 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 and introduce 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 is available in New Release for customer testing. A new MSGW certification suite will be available in AutoCert+ in Summer 2015. More specific information about the MSGW certification suite and production launch schedules will be published in the CME Globex Notices. Customer systems who want to connect directly to the MSGW must complete this mandatory certification.

Details on the new iLink Architecture roadmap can be found online. For an overview of the new iLink architecture, please review the iLink Architecture webinar.

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

In Q3 2015, 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 currently available for customer testing in New Release.

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

 

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iLink Session ID Policy and Operational Guidelines

As a result of the upcoming iLink Architecture with Market Segment Gateways, CME Group plans to introduce a new policy for the distribution and management of iLink session IDs as explained in the iLink Session ID Policy and Operational Guidelines.

Please refer to the CME Globex Notices for more information about MSGW functionality and when the new policy for iLink session IDs will take effect.

To ease and ensure a successful migration to the revised iLink Session Policy, clearing and executing firms are encouraged to contact their Global Account Manager with any questions.

 

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Product Launches

Treasury Bond vs. Ultra Treasury Bond Futures Implied Intercommodity Spread

Effective this Sunday, May 17 (for trade date Monday, May 18), a new Treasury Bond vs. Ultra Treasury Bond futures implied intercommodity spread will be listed on CME Globex with a 1:1 ratio. The current Treasury Bond vs. Ultra Treasury Bond futures implied intercommodity spread with a 6:5 ratio and FIX/FAST and iLink: tag 107-SecurityDesc/MDP 3.0 tag 55-Symbol=BOB 06-05 M5 will continue to be available.

New Implied Intercommodity Spread for Treasury Bond vs. Ultra Treasury Bond 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	FIX/FAST and iLink: tag 107-SecurityDesc MDP 3.0 tag 55-Symbol
Treasury Bond vs. Ultra Treasury Bond Futures Implied Intercommodity Spread	BUB	IV	BUB 01-01 M5

The new implied intercommodity spreads are currently available in New Release for customer testing.

These products are listed on, and subject to, the rules and regulations of CBOT.

 

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Update - CME Europe Fertilizer Futures

^{† Denotes update to the article}

Effective † Sunday, May 31 (trade date Monday, June 1), pending regulatory product approval, CME Europe will list the following Fertilizer futures for trading on CME Globex and clearing submission via CME ClearPort.

CME Europe Fertilizer 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
Urea (Granular) FOB US Gulf Futures	FNE	FE
UAN FOB NOLA Futures	FUE	FE
Urea (Granular) FOB Egypt Futures	FEY	FE
Urea (Prilled Bulk) FOB Yuzhny Future	FKE	FE
Urea (Granular) FOB Middle East Futures	FME	FE
Urea (Prilled) FOB China Futures	FCE	FE

These products will be available for customer testing in New Release on Monday, May 18.

These contracts are listed on, and subject to, the rules of UK RIE CME Europe Ltd.

 

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Product Changes

New - Delisting of Distillers Dried Grains Futures

On Monday, May 11, Distillers Dried Grains futures were delisted for trading on CME Globex and for clearing submission via CME ClearPort. There is currently no open interest in this product.

Delisting of Distillers Dried Grains Futures
Monthly 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
Distillers Dried Grains Futures	DDG	EH

 

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Modified Non-Reviewable Range for 30-Day Federal Fund Futures

Effective this Sunday, May 17 (trade date Monday, May 18), the non-reviewable range for 30-Day Federal Funds futures will be modified for the first 12 maturities. The non-reviewable range for maturities 13-36, will remain at 5.0 basis points.

Modified Non-Reviewable Range for 30-Day Federal Fund 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	Non-Reviewable Range (Current)	Non-Reviewable Range (New)
30-Day Fed Funds Futures	ZQ	ZQ	5.0 basis points	2.5 basis points

The non-reviewable range for every CME Globex product is defined in the CME Globex Product Reference and table 588.H of the rulebook.

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

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

 

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Monthly-to-Daily Conversion for Power Futures

Effective this Sunday, May 17 (trade date Monday, May 18), the last trade date (LTD) rules for the following monthly electricity futures will be modified. With this change, positions in the monthly contracts will terminate trading prior to the start of the contract month and positions in the monthly contracts will automatically convert into a strip of corresponding daily contracts. Currently, the last day of trading for these monthly cash-settled contracts is the last business day of the contract month.

Monthly-to-Daily Conversion for Power Futures
Monthly Futures	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	New Last Trade Date	Daily Futures	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
PJM AEP Dayton Hub Day-Ahead LMP Peak Calendar-Month 5 MW  Futures	D7L	PW	Second to last business day of the month preceding the contract month	PJM AEP Dayton Hub Day-Ahead Peak Calendar-Day 5 MW Futures	PAL	PW
PJM AEP Dayton Hub Day-Ahead Off-Peak Calendar-Month 5 MW Futures	R7L	PW	Second to last business day of the month preceding the contract month	PJM AEP Dayton Hub Day-Ahead Off-Peak Calendar-Day 5 MW Futures	PEL	PW
MISO Indiana Hub (formerly Cinergy Hub) Day-Ahead Peak Calendar-Month 5 MW Futures	H5L	PW	Second to last business day of the month preceding the contract month	MISO Indiana Hub Day-Ahead Peak Calendar-Day 5 MW Futures	PDL	PW
MISO Indiana Hub (formerly Cinergy Hub) Day-Ahead Off-Peak Calendar-Month 5 MW Futures	K2L	PW	Second to last business day of the month preceding the contract month	MISO Indiana Hub Day-Ahead Off-Peak Calendar-Day 5 MW Futures	FAL	PW
MISO Indiana Hub (formerly Cinergy Hub) 5 MW Peak Calendar-Month Real-Time Futures	AH3	ZZ	Last business day of the month preceding the contract month	MISO Indiana Hub Real-Time Peak Calendar-Day 5 MW Futures	PTL	PW
MISO Indiana Hub (formerly Cinergy Hub) Real-Time Off-Peak Calendar-Month 5 MW Futures	EJL	PW	Last business day of the month preceding the contract month	MISO Indiana Hub Real-Time Off-Peak Calendar-Day 5 MW Futures	FTL	PW
Ontario Peak Calendar-Month Futures	OMM	ZZ	Last business day of the month preceding the contract month	Ontario Peak Calendar-Day Futures	OPO	ZZ
Ontario Off-Peak Calendar-Month Futures	OFF	ZZ	Last business day of the month preceding the contract month	Ontario Off-Peak Calendar-Day Futures	OOD	ZZ

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

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

 

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Second TAS Month on Copper Futures

Effective this Sunday, May 17 (trade date Monday, May 18), the listing cycle for Copper TAS will expand to list a second active maturity on CME Globex. Currently, there is only one active maturity listed.

Second TAS Month on Copper 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
Copper TAS Futures	HGT	HT

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

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

 

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Additional Eurodollar Calendar Spreads

Effective this Sunday, May 17 (trade date Monday, May 18), additional Eurodollar calendar spreads will be listed on CME Globex as follows:

• 33 seventh-quarter calendar spreads
• 32 eighth-quarter calendar spreads
• 31 ninth-quarter calendar spreads

Additional Eurodollar 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
Eurodollar  Futures	GE	GE	SP (Standard Calendar Spread)

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

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

 

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Treasury Ratio Calendar Spreads

Effective this Sunday, May 17 (trade date Monday, May 18 ), to facilitate more precise trading during the roll periods, the following treasury ratio calendar spreads will be listed for trading on CME Globex.

Treasury Ratio 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	Tag 623-LeqRatioQty
Ultra U.S. Treasury Bond Reduced-Tick Ratio Calendar Spread	UBX	ZU	RT	Front Leg:98 Back Leg: 99
30-Year Treasury Bond Reduced-Tick Ratio Calendar Spread	ZBX	ZB	RT	Front Leg:98 Back Leg: 99
10-Year Treasury Note Reduced-Tick Ratio Calendar Spread	ZNX	ZN	RT	Front Leg:99 Back Leg: 98
5-Year Treasury Note Calendar Spread	ZFX	ZF	SP	Front Leg:99 Back Leg: 98
2-Year Treasury Note Ratio Calendar Spread	ZTX	ZT	SP	Front Leg:98 Back Leg: 99

These spreads will not be implied nor SLEDS eligible.

These ratio spreads will be listed alongside the current 1:1 SP and RT calendar spreads but with a unique product code. Customers must leverage tag 623-LegRatioQty to determine the leg multiplier.

These ratio calendar spreads are currently available in New Release for customer for testing.

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

 

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New - Product Name Change E-micro CNX Nifty Futures

Effective this Sunday, May 17 (for trade date Monday, May 18), E-micro CNX Nifty Index futures will be renamed E-mini CNX Nifty Index futures. This change will not affect existing position limits of the product, and will not impact the structure of the contract or related contracts.

Product Name Change E-micro CNX Nifty Futures
Product Name (Current)	Product Name (New)	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
E-micro CNX Nifty Index Futures	E-mini CNX Nifty Index Futures	MNF	FN

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

 

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New - Energy Listing Cycle Expansion

Starting Monday, May 20, pending regulatory approval, the listing cycle for 143 energy futures will be expanded on CME Globex. Detailed information on the new listing rules is available online.

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

 

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Dairy Futures Strips Change

To better meet market needs, dairy futures strips on CME Globex will be traded at the average of the leg prices; currently, dairy futures strips are traded at the sum of the leg prices.

To facilitate this new trading convention, effective Sunday, May 31 (trade date Monday, June 1), the following dairy strips will be delisted from CME Globex:

Dairy Futures Strips Change
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
Cash-Settled Butter Futures	CB	CB	FS (Future Strips)
Non-Fat Dry Milk Futures	GNF	DC	FS (Future Strips)
Class III Milk Futures	DC	DC	FS (Future Strips)
Class IV Milk Futures	GDK	DC	FS (Future Strips)
Cash-Settled Cheese Futures	CSC	DY	FS (Future Strips)
Dry Whey Futures	DY	DY	FS (Future Strips)

Effective Sunday, June 7 (trade date Monday, June 8), the following dairy average price strips spreads will be listed for trading on CME Globex for all possible leg combinations up to 18 legs:

Futures Strip Spreads for Dairy 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	tag 762-SecuritySubType
Cash-Settled Butter Futures	CB	CB	SA (Average Price Strip)
Non-Fat Dry Milk Futures	GNF	DC	SA (Average Price Strip)
Class III Milk Futures	DC	DC	SA (Average Price Strip)
Class IV Milk Futures	GDK	DC	SA (Average Price Strip)
Cash-Settled Cheese Futures	CSC	DY	SA (Average Price Strip)
Dry Whey Futures	DY	DY	SA (Average Price Strip)

These changes will be available in New Release for customer testing on Monday, May 18.

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

 

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FIX tag Changes for CME Europe Cocoa Financial Futures

Effective Sunday, May 31 (trade date Monday, June 1), the values in the following FIX tags will be changed for Cocoa Financial futures:

• tag 55-Symbol for FIX/FAST, and
• tag 1151-SecurityGroup for MDP 3.0

FIX tag Changes for Cocoa Financial 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 (Current)	FIX/FAST and iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group (New)
Cocoa Financial Futures	CCC	JX	EC

This change will be available in New Release for customer testing on Monday, May 18.

 

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Implied Functionality for CME Europe FX futures

Effective Sunday, May 31 (trade date Monday, June 1), implied functionality will be enabled for the following CME Europe FX futures:

Implied Functionality for CME Europe 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
AUD/USD Futures	AUD	JA
GBP/USD Futures	GBP	JP
EUR/USD Futures	EUS	JE
EUR/GBP Futures	EBP	JF
NZD/USD Futures	NZD	JH
USD/CAD Futures	CAD	JC
USD/JPY Futures	JPY	JI
USD/CHF Futures	CHF	JS
EUR/CHF Futures	ESI	JN
EUR/JPY Futures	EJY	JJ
USD/MXN Futures	MXN	JM
USD/CNH Futures	UCH	JT
USD/RUB Futures	RUB	JG

This change will be available in New Release for customer testing on Monday, May 18.

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

 

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Update - Changes to DME Oman Crude Oil Financial Futures

^{† Denotes update to the article}

Effective Sunday, May 31 (trade date Monday, June 1), pending regulatory approval, the following changes will be made to the Dubai Mercantile Exchange (DME) Oman Crude Oil Financial futures:

• The contract size will be reduced from 1,000 barrels to 100 barrels. With this change, the value in FIX tag 1147-UnitOfMeasureQty will be modified as follows:

Changes to DME Oman Crude Oil Financial 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	tag 1147-UnitofMeasureQty (Current)	tag 1147-UnitofMeasureQty (New)
DME Oman Crude Oil Financial Futures	ZGD	DE	1000	100

• The last trading day for the Oman Crude Oil Financial futures contract (ZGD) will be modified from the second to last business day of the 2nd month before the contract month to the last business day of the 2nd month before the contract month.
• The following inter-commodity spreads will be delisted listed:
  • CL-ZGD
  • BZ-ZGD

† To facilitate these changes, customers are asked to cancel all Good 'Till Cancel (GTC) and Good 'Till Date (GTD) orders for the impacted futures after their close on Friday, May 29. After 16:00 CT on Friday, May 29, all remaining GTC and GTD orders for these futures will be cancelled by the CME Group Global Command Center (GCC).

This change will be available in New Release for customer testing on Monday, May 18.

These contracts are listed with, and subject to, the rules and regulations of the Dubai Mercantile Exchange (DME).

 

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Additional Eurodollar Calendar Spreads

Effective Sunday, May 31 (trade date Monday, June 1), additional Eurodollar calendar spreads will be listed on CME Globex as follows:

• 30 tenth-quarter calendar spreads
• 29 eleventh-quarter calendar spreads
• 28 twelfth-quarter calendar spreads
• 24 sixteenth-quarter calendar spreads

Additional Eurodollar 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
Eurodollar  Futures	GE	GE	SP (Standard Calendar Spread)

This change will be available in New Release for customer testing on Monday, May 18.

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

 

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New - Maximum Order Quantity Change for Silver Calendar Spreads

Effective Sunday, May 31 (trade date Monday, June 1), the maximum order quantity for Silver futures calendar spreads will be increased as follows:

Maximum Order Quantity Change for Silver 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	Maximum Quantity (Current)	Maximum Quantity (New)
Silver Futures Calendar Spreads Futures	SI	SI	999	2,499

The maximum order quantity for instruments are listed on CME Globex in tag 1140-MaxTradeVol, in the Security Definition (tag 35=d) message.

This change will be available in New Release for customer testing Monday, May 18.

 

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New - Minimum Price Increment Changes to EUA Futures and Options

Effective Sunday, May 31 (trade date Monday, June 1), the minimum price increment for the following European Union Allowance futures and options will be change from 0.01 to 0.0025. With this change, tags 969-MinPriceIncrement and 9787-DisplayFactor will be modified as follows:

Minimum Price Increment Changes to EUA Futures and Options
Product Name	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 969- MinPriceIncrement (Current)	tag 969- MinPriceIncrement (New)	tag 9787-DisplayFactor (Current)	tag 9787-DisplayFactor (New)
Daily European Union Allowance (EUA) Futures	EUL	VE	1	25	0.01	0.0001
In Delivery Month European Union Allowance (EUA) Futures	EAF	VX	1	25	0.01	0.0001
In Delivery Month European Union Allowance (EUA) Options	EAX	GY	1	25	0.01	0.0001
In Delivery Month European Union Allowance (EUA) Serial Options	9G	GY	1	25	0.01	0.0001

To facilitate these changes, customers are asked to cancel all Good 'Till Cancel (GTC) and Good 'Till Date (GTD) orders for the impacted futures and options after their close on Friday, May 29. After 16:00 CT on Friday, May 29, all remaining GTC and GTD orders for these futures and options will be cancelled by the CME Group Global Command Center (GCC).

This change will be available in New Release for customer testing Monday, May 18.

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

 

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Minimum Tick Increment Change to Japanese Yen/U.S. Dollar (JPY/USD) Futures

Effective Sunday, June 21 (trade date Monday, June 22), and pending all relevant CFTC regulatory review periods, the Chicago Mercantile Exchange Inc. (CME or Exchange) will reduce the minimum tick increment of the Japanese Yen/U.S. Dollar (JPY/USD) futures contract from $0.000001 to $0.0000005. With this change, tag 969-MinPriceIncrement will be modified as follows:

Minimum Tick Increment Change to Japanese Yen/U.S. Dollar (JPY/USD) 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	tag 969-MinPriceIncrement (Current)	tag 969-MinPriceIncrement (New)	tag 9787-DisplayFactor
Japanese Yen/U.S. Dollar (JPY/USD) futures	6J	6J	1	.5	0.000001

To facilitate these changes, customers are asked to cancel all Good 'Till Cancel (GTC) and Good 'Till Date (GTD) orders for the impacted futures contract after their close on Friday, June 19. After 16:00 CT on Friday, June 19, all remaining GTC and GTD orders for these futures will be cancelled by the CME Global Command Center (GCC).

These changes will be available in New Release for customer testing on Monday, May 18.

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

 

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Events and Announcements

iLink Session ID Policy and Operational Guidelines

As a result of the upcoming iLink Architecture with Market Segment Gateways, CME Group plans to introduce a new policy for the distribution and management of iLink session IDs as explained in the iLink Session ID Policy and Operational Guidelines.

Please refer to the CME Globex Notices for more information about MSGW functionality and when the new policy for iLink session IDs will take effect.

To ease and ensure a successful migration to the revised iLink Session Policy, clearing and executing firms are encouraged to contact their Global Account Manager with any questions.

 

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