BrokerTec Markets on CME Globex Update: April 3, 2025

For the latest roadmap of CME Group technology initiatives:
See the Development Launch Schedule.

Additional Resources:

• Versions of BrokerTec notices dated March 23, 2023, and onward are available from the Notice Search page. 
• Archived BrokerTec notices dated July 2019 through March 9, 2023, are available from the BrokerTec Support Portal, which requires a separate login. 

Critical System Information

UpdateBrokerTec U.S. Repo Managed Order Enrichment - Q2 2025

† Denotes update to the article

Effective †Q2 2025, BrokerTec on CME Globex will introduce the new Top of Stack (TOS) priority feature for U.S. Repo instruments. TOS prioritizes the passive managed order of the TOS owner based on the pre-defined TOS requirements. 

More details on the TOS functionality are now available in the client impact assessment. 

With this launch, BrokerTec U.S. Repo clients can receive the Unsolicited Modify message in a scenario when the passive managed order (i.e. tag 6881-ManagedOrder=1) is reprioritized with quantity adjustment. See Unsolicited Modify Acknowledgment Messages for more information on this type of order modification. Currently, iLink tag 6881 is for internal use only.  

The new TOS for products subject to this change are currently available for customer testing in New Release.

iLink 3 On-Demand Party Details Changes - April 6

This Sunday, April 6 (trade date Monday, April 7), CME Group will continue to implement the iLink 3 messaging changes to on-demand administrative information on Market Segment Gateway (MSGWs) to return critical information currently only sent on the iLink messages from the customer to CME Globex.

Operator

Tag 1691-PartyDetaiID value on the Operator Party Detail Role (tag 1693-PartyDetailRole=118) on the Party Details Definition Request Acknowledgement (PDDRA, tag 35-MsgType=CY) will reflect the values from the Party Details Definition Request (PDDR, tag 35-MsgType=CX).  

Please note: In the case of a successful Order Cancel, the PDDRA will reflect the party details from the resting order.

Drop Copy will reflect the Operator value from the iLink message in Drop Copy new tag 129-DeliverToSubID.

Memo

Tag 5149-Memo value on the Party Details Definition Request Acknowledgement (PDDRA, tag 35-MsgType=CY) will reflect the party details from an Order Mass Action Request and from an unsuccessful Order Cancel Request. 

In the case of a successful Order Cancel, the PDDRA will reflect the party details from the resting order.

On-Demand Order Cancel Requests

In the event of a successful Order Cancel, the Party Details Definition Request Acknowledgement (PDDRA, tag 35-MsgType=CY) will reflect the party details from the resting order.

There is no change to an unsuccessful Order Cancel Request.

On-Demand Order Cancel Replace

In the event of a successful Order Cancel Replace, the Party Details Definition Request Acknowledgement (PDDRA, tag 35-MsgType=CY) will reflect the party details from the order cancel-replace request.

In the case of an Order cancel-replace request with Negative In Flight Mitigation (IFM) scenario, where IFM cancel/replace quantity is less than that of the filled quantity, CME Globex cancels the order. The PDDRA of an unsolicited Order Cancel will reflect the party details from the resting order.

These changes are only applicable to the on-demand administrative information. There is no change to the Pre-Registered Party Detail Definition Request Acknowledgment (tag 35=CY) messages sent from Order Entry Service Gateway to Client Systems.

More detailed information on party details is available in iLink 3 Party Details Definition Messaging.

Production Launch Schedule 

iLink 3 BrokerTec will be phased in as follows:

These changes are currently available for customer testing in the New Release.

BrokerTec Chicago U.S. Treasury CLOB - Q3 2025

Effective Q3 2025, CME Group is launching BrokerTec Chicago, a secondary U.S. Treasury (UST) Actives Central Limit Order Book (CLOB) on CME Globex, operated by BrokerTec Americas LLC and located in the CME futures and options data center in Aurora, IL. BrokerTec Chicago is designed to enable clients to efficiently manage their cash vs. futures trading with greater precision. The products are tailored for cash vs. futures trading with tighter price and contract notional values aligning with futures, which differentiates this new venue from the existing BrokerTec U.S. Treasury Actives Market CLOB.

The new products offered with BrokerTec Chicago replicate the existing BrokerTec UST active instruments with similar contract size. The notional values for 1 lot size equivalents are $100k (5yr, 7yr, 10yr, 20yr, and 30yr) and $200k (2yr and 3yr) and the products have a price precision of 9 decimals (1/16 of a 32nd).

Clients with listed derivatives connectivity can access BrokerTec Chicago with existing cross-connects. Clients using BrokerTec Secaucus (GLink + EConnnect) connectivity can access BrokerTec Chicago, but require additional CME network and client-side configurations.

Trading hours for BrokerTec Chicago instruments are identical to the existing BrokerTec UST Actives instruments.

More information on the BrokerTec Chicago U.S. Treasury CLOB is available in the client impact assessment.

These BrokerTec Chicago U.S. Treasury CLOB products will be available for customer testing for Order Entry and Market Data in New Release on April 27, 2025.

Straight-Through Processing (CME STP) will be available for customer testing in New Release in May/June 2025.

Front-End Clients

BrokerTec Sync Client 5.0 Upgrade - Now Available

The BrokerTec Sync client version 5.0.1 is now available to download on the BrokerTec Support portal. This new client contains security and stability updates. 

This is a mandatory upgrade. BrokerTec Sync clients utilizing versions prior to 5.0.1 will not be able to log in after Friday, May 30.

Network Requirements

As our services migrate to Google Cloud, this new client version requires access to the following URLs over the public Internet from the BrokerTec Sync user’s workstation: 

Installation Requirements

Please note that customers upgrading from a previous version of the BrokerTec Sync client will be prompted to reboot their workstation during the upgrade process. To minimize disruption, we strongly encourage customer support teams to schedule this upgrade at an appropriate time.

Any client inquiries for technical issues or Production support should be directed to the CME Group Global Command Center (GCC) in the U.S. +1 800 438 8616, in Europe at +44 20 7623 4747 or in Asia at +65 6532 5010.

Client Migration to New URL for BrokerTec Preferences Server - May 19

On Monday, May 19, the BrokerTec Preferences Server, used by BrokerTec Global Front End (GFE) clients to store user preferences and application logs, will migrate to Google Cloud.

By May 19, clients must enable the new URL to be accessed from the traders' workstations over the Internet.

Any client inquiries for technical issues or production support should be directed to the CME Group Global Command Center (GCC) in the U.S. +1 800 438 8616, in Europe at +44 20 7623 4747 or in Asia at +65 6532 5010.

Post-Trade

CME GC Allocator API Migration to Google Cloud - Now Available

The CME GC Allocator API is now available in Google Cloud.

Details on CME GC Allocator API hosted on Google Cloud are below: 

The current URLs for CME GC Allocator API endpoints will be decommissioned in Q2 2025:

• New Release will be decommissioned on April 12
• Production will be decommissioned in June 2025

Customers are strongly encouraged to access the CME GC Allocator API over the Internet to leverage Google Cloud automated failover capabilities. Customers requiring access to the CME GC Allocator API over dedicated connectivity can find the required information in the Client Systems Wiki.

GET requests with "content-type" header set to "application/json" will be rejected with a 400 return code when connecting to theCME GC Allocator API - hosted by Google Cloud. To avoid this issue, please remove the "content-type" header from all GET requests targeting the CME GC Allocator API endpoints. 

Due to a restriction within Google Apigee, query parameters with the same name cannot be repeated in a GET request. This restriction is in place to ensure predictable behavior and avoid potential ambiguity in how the API processes the request.
For example, the following previously supported request:

/trades/search?collateralStatus=NONE?collateralStatus=PARTIAL

must now be submitted as two separate requests:

/trades/search?collateralStatus=NONE

/trades/search?collateralStatus=PARTIAL

Clients can continue to use their existing OAuth API IDs to access the CME GC Allocator API in Google Cloud. 

CME STP FIX API on Google Cloud - Postponed

Previously announced availability of CME STP FIX API service on Google Cloud has been postponed. A new production date will be announced in a future article.

View the client impact assessment for additional information.

CME STP FIX API on Google Cloud is currenlty available in New Release.

Announcements and Additional Resources

Redesigned Request Center Within CME Customer Center - Coming Soon

In the coming months, the Request Center within the CME Customer Center self-service functionality will feature a simplified, redesigned interface and streamlined navigation. For a clear and consistent experience across CME Group services, the Request Center will include updated terminology and instances of spelled out acronyms.

There will be no major functional updates to the user interface at this time and access will remain based on individual CME Group Login entitlements.

Currently, "Registered Entity" or "Administration Group" identifies a customer firm within the Request Center and the redesign will feature "Administration Group" for consistency.

Acronyms currently in the user interface will be spelled out, such as "Globex Firm ID," "Futures and Options" and "Order Entry" naming will identify the "iLink Sessions."

Additional details will be provided in future notices.

UpdateUpcoming Changes to Duo Two-Factor Authentication - April 12

† Denotes update to the article

On Saturday, April 12, CME Group will upgrade to Duo Universal Prompt, a new two-factor authentication experience for applications and services requiring CME Group Login. The upgrade features improved security and a redesigned user interface. No action will be required for customers to receive the automated upgrade. 

† Additional details are now available in Duo Security Frequently Asked Questions.

For related inquiries, please contact EASE@cmegroup.com.