CME Globex Credit Controls (GC2)

The CME Globex Credit Controls (GC2) function provides pre-execution risk controls that enable Clearing Firm or Partner Exchange Clearing Firm risk administrators to set exposure limits for CME Globex order and trade activity cleared by CME Clearing. Using settings specified in GC2, clearing firm or partner exchange clearing firm risk administrators can choose a set of time actions to follow if specified limits are breached, including e-mail notifications, order blocking, and order cancellation.

The GC2 function enables risk limits management by Legal Clearing Entity (LCE) and Execution Firm ID / Exchange groupings. Predefined groups appear with associated credit control settings in a user selected tab.

GC2 Functions

For the selected LCE and Execution Firm, authorized GC2 Risk administrators can manage risk settings and limits as described below.

Effective Monday, May 11, 2026, GC2 will support weekend exposure limits. To ensure swap-based event contract weekend trading is not impacted, update weekend limits by May 15, 2026 at 4:00 p.m. CT.

  • Weekend (optional) - The default value is 0 (zero). Clients that want to trade eligible swap-based event contracts and cryptocurrency futures and options over the weekend must enable weekend trading and specify weekend exposure limits.

See additional information for cryptocurrency and event contract swaps; including operational guidelines and limits management.

Credit Controls Management

The following information describes available GC2 settings.

  1. Select the Legal Clearing Entity / Execution Firm to manage.
  2. Exchange Groups (optional): Newly added exchanges will have a “0” exposure limit and appear in a separate tab. This means that the firm is blocked from the newly added exchanges.

Customers can request to re-group / modify exchange groupings or set up a new group. Requested exchange group updates will be effective at the next Sunday start‐up.

Note: A confirmation message appears; including the last update - risk administrator, date and time.

Credit Controls Management: Using the Credit Controls Management function, GC2 Risk Administrators can enable trading and manage executing firm risk settings.

Available risk settings include futures and options Exposure and (optional) Max Quantity limits for each exchange group.

  1. Exposure Limits: This feature is available for authorized clearing firm risk administrators to specify trade and position currency-based exposure limits at the execution firm(s) / exchange group level.

Newly created execution firms will have a “0” exposure limit, which means that the firm is blocked.

To enable trading, the risk administrator must specify exposure limits (in USD millions, minimum $0.5, increments of $0.1).

Spread orders that have both Buy and Sell sides will apply a spread adjustment factor (10%) to working orders, which may affect trading limits for new orders.

  1. Weekday exposure limit: Specify futures and options exposure and max quantity limits applicable for the weekday trading session.

Weekday session limits are effective from Sunday, 4:00 p.m. through Friday, 5:30 p.m.CT.

  1. Weekend exposure limit: By default, weekend trading is not enabled.

To enable weekend trading, select (i.) the Enable Weekend Trading checkbox then specify (ii. - required ) futures and options exposure and (optional) quantity limits.

Weekend session limits are effective from Friday, 4:00 p.m. through Sunday, 5:00 p.m. CT.


  1. Max Quantity Limits - The optional futures and options Max Quantity Limit for a LCE and execution firm for an exchange group for the weekday and weekend session.
  • No Max Limit: When selected, all orders are evaluated against CME Group specified product limits and available credit.

To enter / update Max Quantity Limits, uncheck the No Max Limit checkbox, enter a maximum quantity limit (buy and sell side), then Save.

Note: If both weekday/weekend Exposure Limits and Max Quantity Limits are set, the most conservative value is used.

See also: Time frame for changes - summarizes when CME Globex Credit Controls (GC2) updates are effective.

  1. Enable Weekend Trading:  By default, weekend trading is not enabled.

To enable access and apply the specified weekend exposure limits, select this checkbox prior to entering weekend exposure limits.

Selecting this option will notify CME Group of ability to participate in weekend trading.

Note: Unchecking / deselecting this checkbox will set weekend exposure limits to zero (0).
To re-enable weekend trading, select the weekend checkbox and specify an exposure limit.

  1. Notifications: The notification panel is used to specify when to notify individuals when the percentage of exposure limits are reached.

To set up notifications, select up to three notification levels Closed, then Add Closed recipient email address(es).

To finalize, select OK, then Save.

Note: At least one email address must be entered per Executing Firm ID / Exchange group.

Additional options:

  • Update - Select the checkbox for the email to update, select Update, modify the address, confirm by selecting OK then Save.
  • Delete - Select the checkbox for the email to delete, select Delete, confirm by selecting OK then Save.
  • Example email notificationClosed
  1. Current Positions:  Open and filled positions are dynamic calculations of product complexes for the select Executing Firm ID / Exchange group.

To update the Current Positions details, select Refresh .

  • Total Futures Long (Fut - Long) = Sum of all weighted quantity open long futures orders + Sum of all weighted long fills - Sum of all weighted short fills.
  • Total Futures Short (Fut - Short) = Sum of all weighted quantity open short futures orders + Sum of all weighted short fills – Sum of all weighted long fills.
  • Total Options Long(Opt - Long) = Sum of all weighted quantity open long options orders + Sum of all weighted long fills – Sum of all weighted short fills.
  • Total Options Short (Opt - Short) = Sum of all weighted quantity open short options orders + Sum of all weighted short fills – Sum of all weighted long fills.

For additional information, see: Position Calculations

  1. Credit Control Alerts: Lists recent position activity that exceeds configured notification levels.

Time Frame for Changes

The following table summarizes when CME Globex Credit Controls (GC2) updates are effective.

  • Clearing firms have the ability to apply exposure limits to Executing Firm IDs created on or transferred mid-week. Limits are applied by 16:45 CT.
  • Filled positions are not carried over between trading days and are reset to zero at 16:30 Central time (CT).
  • Basis Trade at Cash Open (TACO) products operate on unique contract terms and trading schedule.

After trade execution (fill), positions are reset as specified in the Client Systems Wiki - Basis Trade at Cash Open.

Type of Change Realtime 16:30-16:45 Monday through Friday or upon Sunday start-up Next Sunday Start-up

Exposure Limits

X

 

 

Max Quantity Limits

X

 

 

Executing Firm ID / Exchange Regrouping

 

 

X

New Firms

 

X

 

Clearing Mapping Relationships

 

X

 

Weekend trading availability

Enable weekend trading and exposure limits before Friday 16:00 CT