The CME Globex Messaging Efficiency Program is designed to target messaging that can negatively impact system performance, impair efficient access to the market and create unnecessary infrastructure and processing costs for market participants.
From an operational perspective, the Program provides transparent messaging thresholds in selected product groups and measures Volume Ratios at the executing firm level which serve as the basis for comparison against the established Product Group Benchmark.
Resources
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- CME Globex Messaging Efficiency Program Contains detailed information on the "Program" as it pertains to the CME Globex platform including the volume ratio formula and performance measurement methodology.
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- CME Globex Messaging Efficiency Program Benchmarks for 2025 View a list of product groups and their assigned measurements which determine if a Globex Firm is in compliance with the CME Globex Messaging Efficiency Program.
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- CME Globex Messaging Policy The CME Globex Messaging Policy contains the high level regulatory definition of the policy filed with the CFTC.
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