• CME Globex Notices: June 8, 2015

      • To
      • CME Globex and Market Data Customers
      • From
      • Global Account Management
      • #
      • 20150608
      • Notice Date
      • 08 June 2015
      • Effective Date
      • 11 June 2015

    •  

      Topics in this issue include:

       

      Critical System Updates

      New - AutoCert+ SMART Click Integration

      In September 2015, all AutoCert+ access will migrate to SMART Click. The migration has been designed to minimize customer impacts; users will associate their legacy entitlements to their SMART Click ID and connect via a new URL. Complete information on the migration will be published in upcoming CME Globex Notices.

      SMART Click is a self-managed, centralized user profile service that authenticates access to CME Group applications and services. Benefits of SMART Click include:

      • A single User ID and password to access CME Group services and applications;
      • One User ID to access multiple firms;
      • User-owned IDs, regardless of changes to employers or firm relationships;

      Effective this Sunday, June 14, users will have the option to use SMART Click to access AutoCert+. Some additional steps are required for these users only:

      If you have questions, please contact Certification Support for Electronic Trading (CSET) in the U.S. at +1 312 930 2322, in Europe at +44 20 3379 3803, or in Asia at +65 6593 5593.

       

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      New - CME Globex Messaging Controls Enhancements

      Extraordinary and excessive messaging rates generated by a client system can negatively impact all market participants (for example, by creating performance latencies). The CME Globex messaging volume controls are designed to address this risk by:

      • Supporting valid trading activity, and
      • Preventing a malfunctioning trading system from impacting the markets

      Effective Sunday, June 21, the messaging controls will be enhanced to provide further protection to CME Globex markets. With this change, exceeding a pre-defined threshold will result in a logout of the offending iLink session, as detailed below. All messaging is measured in Messages per Second (MPS) over a three-second window. There will be no changes to the current Reject thresholds.

        Threshold– Application Messages
      (Current)      		 Threshold – Application Messages
      (New)      		 Threshold – Cancel Messages
      (Current)      		 Threshold – Cancel Messages
      (New)
      Reject 500 - Reject 500 - Reject 1000 - Reject 1000 - Reject
      Logout N/A 750 - Logout N/A 1500 - Logout

      More information on Messaging Controls and other Market Integrity solutions is available in the Client Systems Wiki.

       

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      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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      New - BM&F Bovespa Leap Second Impact

      On Sunday, June 28 (trade date Monday, June 29), BM&F Bovespa (BVMF) will put back its internal clocks by one second to adapt to the leap second.

      With this change, there will be a one second difference between BVMF and CME Group UTC timestamp fields until a leap second insertion on Tuesday, June 30 after 18:59:59 Central Time (CT).

      • For BVMF iLink Order Routing messages from CME Globex to Client system, customers must add 1 second to the value in tag 60-TransactTime to normalize it against the Coordinated Universal Time (UTC) and tag 52-SendingTime.
      • For BVMF FIX/FAST Market Data messages, customers must add 1 second to the value in tag 273-MDEntryTime to normalize it against the Coordinated Universal Time (UTC) and tag 52-SendingTime.

      Please contact BVMF Control Center for more information at +55 11 2565 5000 (option 2).

       

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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.

      Trade Summary Message: Order Detail Level Processing

      Enhanced Trade Summary Order Detail Level Processing specifications are now available here. CME Group strongly encourages client systems to support the dissemination of Trade Summary Order Details. Leveraging the Order Detail information provides a more granular view into trade events, access to fill information (for customers that opt to include their iLink order ID in the MDP 3.0 messages), and supports Time and Sales and charting applications.

      Additional Information

      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

      CME Europe European Power Cash Settled Futures

      Effective this Sunday, June 14 (trade date Monday, June 15), CME Europe will list the following European Power Cash Settled futures for trading on CME Globex and clearing submission via CME ClearPort.

      CME Europe European Power Cash Settled 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
      German Power Baseload (EPEX Spot) Calendar Month Future GPB PO
      German Power Peakload (EPEX Spot) Calendar Month Future GPP PO
      French Power Baseload (EPEX Spot) Calendar Month Future FPB PO
      French Power Peakload (EPEX Spot) Calendar Month Future FPP PO
      Italian Power Baseload (GME) Calendar Month Future IPB PO
      Italian Power Peakload (GME) Calendar Month Future IPP PO
      Spanish Power Baseload (OMIP) Calendar Month Future SBP PO
      Spanish Power Peakload (OMIP) Calendar Month Future SPP PO

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

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

       

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      Trading at Settlement (TAS) for Agricultural Futures

      Effective this Sunday, June 14 (trade date Monday, June 15), pending regulatory review, TAS (Trading at Settlement) futures and calendar spreads will be listed for trading on CME Globex for Agricultural futures.

      Trading at Settlement (TAS) for Agricultural 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
      Soybean TAS SBT TA
      Soybean Oil TAS ZLT TA
      Soybean Meal TAS ZMT TA
      Corn TAS ZCT TP
      Chicago SRW Wheat TAS ZWT TW
      KC HRW Wheat TAS KET TW
      Live Cattle TAS LET TH
      Feeder Cattle TAS GFT TH
      Lean Hogs TAS HET TH

      Customers must use a Phase 1 MSGW iLink session to enter TAS orders during the first five minutes of the pre-open; after the first five minutes all iLink sessions can enter orders. Please contact your Clearing Firm to request a Phase 1 MSGW session.

      Please note: these products and spreads are not cabinet price eligible, but the outright futures will contain a non-zero value in the FIX/FAST Security Definition messages (tag 35=d), tag 9850-MinCabPrice. MDP 3.0 Security Definition messages will correctly reflect cabinet ineligibility in tag 9850.

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

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

      Additional information on TAS Agricultural futures is available at  cmegroup.com/agtas.

      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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      Copper Financial Futures

      Effective this Sunday, June 14 (trade date Monday, June 15), Copper Financial futures will be listed for trading on CME Globex.

      Copper 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
      Copper Financial Futures HGS HG

      These contracts will be available for customer testing in New Release on Monday, June 8.

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

       

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      Energy and Metal Futures

      Effective this Sunday, June 14 (trade date Monday, June 15), the following energy and metal futures will be listed for trading on CME Globex.

      Energy and Metal 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
      Gulf Coast Heating Oil (Argus) vs. NY Harbor ULSD Futures 7U RF
      Gulf Coast Heating Oil (Argus) Futures 4U RF
      Australian Coking Coal (Platts) Low Vol Futures ALW CO
      HMS 80/20 Ferrous Scrap, CFR Turkey (Platts) Futures FSF ST
      European Hot Rolled Coil, Ex-Works Ruhr Germany (Platts) Futures NSF ST
      Iron Ore 62% Fe, CFR North China (Platts) Futures PIO ST
      Chinese Steel Rebar HRB400 (Mysteel) Futures RBR ST
      Steel Billet, FOB Black Sea (Platts) Futures SSF ST

      These contracts will be available for customer testing in New Release on Monday, June 8.

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

       

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      Copper Spot TAS

      Effective Sunday, June 21 (trade date Monday, June 22), Copper Spot TAS (Trade at Settlement) will be listed for trading on CME Globex.

      Copper Spot TAS
      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 Spot TAS HG0 HT

      These contracts will be available for customer testing in New Release on Monday, June 15.

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

       

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      CME Europe Cocoa Options

      Effective Sunday, June 28 (trade date Monday, June 29), CME Europe will list the following Cocoa options for trading on CME Globex and clearing submission via CME ClearPort.

      CME Europe Cocoa 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
      Cocoa Option CEY JY (Outrights)
      JZ (UDS)

      The CME Europe Cocoa Options Market Data will be disseminated on the following new Market Data Channels:

      Channel Name FIX/FAST MDP 3.0
      CME Europe Globex Options 71 411

      The config.xml files with the source and multicast IP addresses are currently available in both New Release and Production.

      This product will be available for customer testing in New Release on Monday, June 15.

      This contract is listed on, and subject to, the rules of UK RIE CME Europe Ltd.

       

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      Zinc Futures

      Effective Sunday, June 28 (trade date Monday, June 29), Zinc futures will be listed for trading on CME Globex.

      CME Group's new Zinc futures contract will be physically delivered in approved warehouses across the U.S. The contract will enable market participants to benefit from the reliability and proven integrity of the exchange's delivery process when they make and take delivery of special high grade zinc of 99.995 percent purity.

      Zinc 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
      Zinc Futures ZNC ZX

      These contracts will be available for customer testing in New Release on Monday, June 15.

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

       

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      New - KC HRW Wheat-Corn Intercommodity Spread

      Effective Sunday, July 26 (trade date Monday, July 27), the following KC HRW Wheat-Corn Intercommodity Spread will be listed for trading on CME Globex, and implied functionality will be enabled for this product.

      KC HRW Wheat-Corn Intercommodity Spread
      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
      KC HRW - Corn Intercommodity Spread KE-ZC KE IS (Intercommodity Spread)

      This product will be available in New Release for customer testing on Monday, July 8.

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

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      Product Changes

      New - Delisting U.S. and European Weather Products

      On Monday, June 8, several U.S. and European weather products were delisted from trading on CME Globex and open outcry. There was no open interest in these products.

      A full list of the delisted weather contracts can be found online.

       

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      New - Delisting Barclays U.S. Aggregate Bond Index Futures and Options

      On Monday, June 8, the Chicago Mercantile Exchange, Inc. (CME or Exchange) delisted the Barclays U.S. Aggregate Bond Index futures from CME Globex, open outcry and for clearing submission via CME ClearPort. There is currently no open interest in this product.

      Delisting Barclays U.S. Aggregate Bond Index 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
      Barclays U.S. Aggregate Bond Index Futures LBA LB
      Barclays U.S. Aggregate Bond Index Options LBA LB

       

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      New - Energy Listing Cycle Expansion: Part 4

      Effective Thursday, June 18 (trade date Friday, June 19), the listing cycle will be expanded for 43 existing energy and metals futures contracts on CME Globex. A full list of the products is available online.

      These contracts will continue to be available for trading on the NYMEX trading floor and for clearing through CME ClearPort with an unchanged listing schedule.

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

       

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      Natural Gas Listing Cycle Expansion Beyond 10 years

      Effective Thursday, June 18, pending regulatory approval, the listing cycle for the following natural gas futures will be expanded on CME Globex to support up to 13 years. With this change, CME Globex will support a 2-byte year for maturities listed beyond the first 10 years in the external instrument name, tag 107-SecurityDesc in FIX/FAST and tag 55-Symbol in MDP 3.0. The 2-byte year will remain through the life cycle of the contract.

      Natural Gas Listing Cycle Expansion Beyond 10 years
      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      		 Listing Cycle
      (Current)      		 Listing Cycle
      (New)
      Henry Hub Penultimate NP Futures NPG HX The current year plus the next 8 years The current year plus the next twelve years. A new calendar year will be added following the termination of trading in the December contract of the current year.
      Henry Hub Natural Gas Last Day Financial Futures NN NG 118 consecutive maturities The current year plus the next twelve years.
      Henry Hub Natural Gas Last Day Physically-Delivered Futures MNG NG 118 consecutive maturities The current year plus the next twelve years.
      Henry Hub Natural Gas Futures NG NG 118 consecutive maturities The current year plus the next twelve years.

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

      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 are 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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      New - Delisting TAS Products

      On Monday, June 22, the following TAS products will be delisted from trading on CME Globex, open outcry and for submission for clearing through CME ClearPort.

      Delisting TAS 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
      NYMEX Cocoa TAS CJT C1
      NYMEX Coffee TAS KTT KD
      NYMEX Cotton TAS TTT TC
      NYMEX Sugar 11 TAS YOT YA
      REBCO Crude Oil TAS RET CT

      These products will be available for customer testing in New Release on Monday, June 15.

       

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      New - Maximum Order Quantity Change for Eurodollar and Euribor (Green & Blue) Futures

      Effective Sunday, June 28 (trade date Monday, June 29), the maximum order quantity Eurodollar and Euribor (Green & Blue) futures and spreads will be increased as follows:

      Maximum Order Quantity Change for Eurodollar and Euribor (Green & Blue) 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 Maximum Quantity
      (Current)      		 Maximum Quantity
      (New)
      Eurodollar Futures (Green) GE GE SP – Spreads
      BF – Butterfly
      CF – Condors      		 8,000 14,999
      Eurodollar Futures (Blue) GE GE SP – Spreads
      BF – Butterfly
      CF – Condors      		 8,000 9,999
      Euribor Futures  (Green) EB EB SP – Spreads
      BF – Butterfly
      CF – Condors      		 8,000 14,999
      Euribor Futures  (Blue) EB EB SP – Spreads
      BF – Butterfly
      CF – Condors      		 8,000 9,999

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

      The maximum order quantity in the Whites, Reds, and Golds years will remain the same.

      This change will available in New Release for customer testing on Monday, June 22.

       

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      New - FX Futures Calendar Spread Strategy Type Change

      Effective Sunday, July 12 (trade date July 13), the strategy type (762-SecuritySubType) for all FX futures calendar spreads will be change to SD from FX to better align with the over-the-counter (OTC) FX forward market convention. This change will result in calendar spread leg prices determined by applying the spread differential to the most recent outright prices rather than being anchored to the previous day’s settlement price (SLEDs).

      This change will be available in New Release for customer testing on Monday, June 29.

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

       

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      New - Implied Functionality for SRW Wheat-Corn Intercommodity Spread

      Effective Sunday, July 12 (trade date Monday, July 13), implied functionality will be enabled for SRW Wheat-Corn Intercommodity spread listed for trading on CME Globex.

      SRW Wheat-Corn Intercommodity Spread
      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
      SRW Wheat-Corn Intercommodity Spread ZW ZW

      This change will be available in New Release for customer testing on Monday, June 29.

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

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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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      Messaging Efficiency Program Temporary Product Group Benchmark Revision

      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.

      As a result of the reduction in the minimum tick increment, the Messaging Efficiency Program Benchmarks for Product Group 6J (Japanese Yen Futures & Spreads) have been increased to the following:

      • Tier 1 (>60,000 messages): 50:1
      • Tier 2 (>40,000 messages): 100:1
      • Tier 3 (>20,000 messages): 150:1

      Unless otherwise stated by CME Group in future communications, effective trade date Tuesday, September 1, the Messaging Efficiency Program Product Group Benchmarks for Product Group 6J (Japanese Yen Futures & Spreads) will revert back to the following levels:

      • Tier 1 (>60,000 messages): 25:1
      • Tier 2 (>40,000 messages): 50:1
      • Tier 3 (>20,000 messages): 75:1

      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 - CME Eurodollar Futures Daily Settlements

      Effective Monday, July 6, all Eurodollar Futures Daily Settlement values will be derived from CME Globex limit orders at the 2:00 p.m. Central Time (CT) during the Settlement Time. The input values include both the best bid and offer in the outright contract month, as well as bids and offers in related spread instruments (including, but not limited to, calendar and butterfly spreads).

      There will be no changes to how the daily settlement prices are disseminated to the market place via Market Data Platform (MDP) feeds. Additional details on the methodology will be coming. If you have any questions, please contact the CME Global Command Center in U.S. at 800 438 8616, in Europe at 0800 898 013 or in Asia at 65 6532 5010.

       

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      New - CME Globex Test Product Launch

      Effective Sunday, July 19 (trade date Monday, July 20), to support the ability to test connectivity and messaging on CME Globex, a new test product will be listed in the production environment.

      Please note: For this test contract, CME Group is restricting throughput to 1 message per 30 seconds per iLink session.

      The test product will mimic the E-mini S&P MidCap 400 (EMD) futures contract. Only outright futures will be listed. Market data will be disseminated on MDP 3.0 channel 318 and FIX/FAST channel 15.

      CME Globex Test Product
      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
      Test – E-mini S&P MidCap 400 Futures 0MD (zero-M-D) T9

      0MD will offer the following functionality:

      • Order routing only:
        • Trades will not be supported
      • Pre-open only:
        • Sunday
          • Pre-open at 16:00 Central Time (CT) (Instrument Security Status (35=f) with 326=21))
          • Close at 16:59 CT (Instrument Security Status (35=f) with 326=4))
        • Monday – Thursday
          • Pre-open at 16:45 CT (Instrument Security Status (35=f) with 326=21))
          • Close at 16:59 CT (Instrument Security Status (35=f) with 326=4))
      • iLink:
        • Order entry, modifies and cancels
        • Mass Order Status and Mass Cancel
      • Order Types and Qualifiers:
        • Day orders
        • Limit
      • Market Data Statistics:
        • Indicative Opening (Incremental Refresh (35=X) with 269=4))
        • A fixed, reasonable value will be published in the  Daily Settlement (Incremental Refresh (35=X) with 269=6))
          • Preliminary settlements will not be published
      • Messaging Controls will be applicable:
      • GC2:
        • 0MD will have a $1 margin rate
      • Drop Copy

      Please contact your Global Account Manager with any feedback or requests for additional functionality 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.

      0MD will be available in New Release for customer testing Monday, June 15.

       

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CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
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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