Transaction Timelines

Banking Timeline

CME Clearing adheres to a designated timeline for daily performance bond collateral transaction and settlement cycle processing. The time frames apply to all specialized programs supported by CME Group, unless noted otherwise.

TIME	EVENT
8:30 a.m. CT	Clearing Member deadline to enter deposit and/or withdrawal requests in BAMS for foreign currency cash and securities for same day value (CAD, EUR, GBP, and MXN).
10:30 a.m. CT	Clearing Member deadline to enter deposit and/or withdrawal requests in BAMS for foreign currency cash and securities for next day value (AUD, JPY, SEK, SGD).
11:00 a.m. CT	Clearing Member deadline to enter all collateral deposit and/or withdrawal requests in BAMS prior to Intraday Settlements processing. Entries made after this time may not be processed until Intraday completes.
1:00 p.m. CT	Clearing Member deadline to enter deposit and/or withdrawal requests in BAMS for COMEX Gold Warrants for margin credit.
2:00 p.m. CT	Clearing Member deadline to enter all non-cash collateral deposit and/or withdrawal requests in BAMS. IEF2 deadlines vary by fund and may be earlier, but are accepted no later than 2pm CT.
2:30 p.m. CT	Clearing Member deadline to deposit or request withdrawals of USD cash in BAMS. Cash for deposits must be received in CME Settlement Bank accounts by 2:30. Clearing Member deadline to enter withdrawal requests of Stocks, ETFs, and Corporate Bonds into DTC and BAMS.
3:00 p.m. CT	Deadline for same day processing of Letters of Credit.
3:30 p.m. CT	Clearing firm deadline to enter deposits requests of Stocks, ETFs and Corporate Bonds into DTC and BAMS.
4:00 p.m. CT	Clearing Member deadline to enter deposit and/or withdrawal requests in BAMS for foreign currency cash and securities for next day value (CAD, EUR, GBP, and MXN) or T+2 value (AUD, JPY, SEK, SGD).

OTC Clearing Timeline

New York	Local	Event
6:00 p.m.		Sunday evening market open
	4:00 p.m. Tokyo	Capture quotes for JPY (LIBOR & OIS)
	4:30 p.m. Sydney	Capture quotes for AUD (BBR-BBSW & OIS)
	4:30 p.m. Wellington	Capture quotes for the NZD (BBR)
8:30 a.m.		Settlement banks confirm USD VM and Initial Margin call (portfolio) from previous day’s clearing cycle – USD, EUR, GBP and CAD cash moves at the settlement bank shortly thereafter (JPY, CHF and AUD are confirmed at this time, but cash moves on T+2).
3:00 p.m.		Capture quotes for USD (LIBOR & OIS) and CAD (CDOR & OIS).
	4:30 p.m. Hong Kong & Singapore	Capture quotes for the following currencies: HKD (HIBOR) SGD (SOR)
	4:00 p.m. SAST	Capture quotes for the following currencies: ZAR (JIBAR)
	4:00 p.m. CET	Capture quotes for the following currencies: SEK (STIBOR), DKK (CIBOR/CIBOR2), NOK (NIBOR) CZK (PRIBOR), PLN (WIBOR), HUF (BUBOR)
	4:00p.m. London	Capture quotes for the following currencies: EUR (EURIBOR & OIS) GBP (LIBOR & OIS) CHF (LIBOR)
7:00 p.m.		Same day trade submission/acceptance deadline for all currencies. Generate combined end-of-day Clearing reports for all currencies including Trade Register.
8:00 p.m.		Calculate Initial Margin for entire portfolio.
10:00 p.m.		Settlement instructions for all currencies are sent to settlement banks.
7:00 p.m.		Friday night Clearing closed until the following Sunday

Futures and Options Clearing Timeline

Event	Eastern Time	Central Time
NYMEX Early Coal (Clearing Codes F2C, F2Q, F4C, F4Q, MTC, MFY)	10:00 a.m.	9:00 a.m.
Dutch and UK Natural Gas (Clearing Codes TFO, TTO, UFO and UKO)	10:00 a.m.	9:00 a.m.
NYMEX Coal (API 2 and API 4) contracts	1.00 p.m.	12.00 p.m.
NYMEX Brent Crude Oil Futures-Style Margin Option (BZO) contracts	3.30 p.m.	2.30 p.m.
NYMEX Brent Crude Oil Futures Style Margin Option Contracts (BZO) UPDATE: No Contrary Instructions Commencing with March 2020 - SER-8430	3.30 p.m.	2.30 p.m.
NYMEX/COMEX Cut off Exercise/Abandon Entry	4:30 p.m.	3:30 p.m.
Announce NYMEX/COMEX Contrary Instructions	~4:30 p.m.	~3:30 p.m.
NYMEX and COMEX Option Contracts	4:30 p.m.	3:30 p.m.
Run NYMEX/COMEX E/A Process (Produce reports)	~5:15 p.m.	~4.15 p.m.
NYMEX/COMEX Metal Delivery Intentions	6:00 p.m.	5:00 p.m.
CBT FLEX Cut off Exercise/Abandon Entry	6:30 p.m.	5:30 p.m.
Announce CBT FLEX Contrary Instructions	~6:30 p.m.	~5:30 p.m.
CBT Cut off Exercise/Abandon Entry	6:30 p.m.	5:30 p.m.
Announce CBT Contrary Instructions	~6:30 p.m.	~5:30 p.m.
CME Cut off Exercise/Abandon Entry	6:30 p.m.	5:30 p.m.
Announce CME Contrary Instructions	~6:30 p.m.	~5:30 p.m.
NYMEX Late Power and Coal Contracts	6:30 p.m.	5:30 p.m.
CBOT Flex Option Contracts	6:30 p.m.	5:30 p.m.
CME Option Contracts	6:30 p.m.	5:30 p.m.
CBOT Option Contracts	6:30 p.m.	5:30 p.m.
NYMEX/COMEX/DME FEC cut-off (ALL)	6:45 p.m.	5:45 p.m.
NYMEX/COMEX/DME PCS Deadline	7:00 p.m.	6:00 p.m.
CME/CBT FEC cut-off (Electronic)	7:00 p.m.	6:00 p.m.
Run CME, CBT E/A Process (Produce reports)	7:15 p.m.	6:15 p.m.
Run CBT FLEX E/A Process (Produce reports)	~7:15 p.m.	~6:15 p.m.
CME/CBT FEC cut-off (Non-Electronic and Give-ups)	8:00 p.m.	7:00 p.m.
CME/CBT PCS Deadline	8:30 p.m.	7:30 p.m.
CGM deadline (all markets)	9:00 pm	8:00 pm

Transaction Timelines

Banking Timeline

OTC Clearing Timeline

Futures and Options Clearing Timeline

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