Multi-Leg Transactions

A multi-leg transaction contains more than one leg associated with a given order number. Strips, Packs, Bundles and Calendar spreads are examples of multi-leg transactions.

Selecting a value from the Strip/Pack/Bundle drop-down enables the End term dropdown. When selected, this automatically creates a mutli-leg transaction, with each tradable month in the Start and End term range corresponding to a leg. Each contract is displayed separately on the Trade Ticket, similarly to how legs of a spread are displayed.

Adding Legs to a Transaction

Add an initial leg to begin the transaction. Add subsequent legs to the transaction to create a multi-leg transaction.

See Single-Side Trade Entry for single-side trades, and Dual-Side Trade Entry for dual-side trades.

 

  • To enter a multi-leg transaction:
  1. To add additional legs to a transaction, click : .

 

  1. To enter information for the new leg, follow product information entry steps:
  1. If Allocation information has not been completed, follow allocation entry steps:

Note: To copy product information to another leg, click:

 

  • To remove a leg from a multi-leg transaction:

To remove a leg, click: 

Strategy Pricing

The Strategy Price appears when a second leg is added for the same product.

If a strategy price is entered without leg prices, CME prices the legs. The calculated leg prices are shown on the Confirm & Submit page for review.

If leg prices are entered, CME ignores any strategy price that is entered.

CME ClearPort supports the following strategy types:

  • Outright
  • Daily Strip
  • Monthly Strip
  • Pack
  • Butterfly
  • Standard Calendar
  • Equities Calendar
  • Foreign Exchange Calendar
  • Bundle
  • Condor
  • Generic
  • with price Support (intra-commodity spreads)
  • with no price Support (inter-commodity spreads)
  • Pack Spread
  • Pack Butterfly
  • Month vs. Pack