CME Globex Notices: July 20, 2020

Critical System Updates

Mandatory iLink 3 Binary Order Entry Protocol for MSGW - This Week

This Sunday, July 26 (trade date Monday, July 27), CME Group will implement the final launch of iLink 3, a new order entry protocol for trading futures and options markets on CME Globex. All customers connected via Market Segment Gateway (MSGW) will need to migrate to the iLink 3 by Q4 2020.

iLink 3 includes:

• Simple Binary Encoding (SBE); delivers faster encoding/decoding
• FIX Performance (FIXP) protocol; very simple, lightweight, point-to-point session layer
• More efficient iLink FIX messaging
• Standard message size, fixed positions, and fixed length fields
• Consistent encoding method for order entry and market data

iLink 3 will only support iLink MSGW sessions. The Client Impact Assessment is available and provides detailed functionality and messaging information.

iLink 3 Binary Order Entry Update:

As previously announced,  iLink 3 will launch in production using schema version 5.  Version 5 is currently the only version supported in New Release.  Customer can only send version 5 messages.

During the iLink 2 to 3 session migration, any MSGW sessions configured for iLink 3 must send iLink 3 messages if market segments are migrated to iLink 3, and send iLink 2 messages if market segments have not yet migrated to iLink 3.  A new MSGW config.xml file with a flag to indicate for each MSGW if it is enabled for iLink 3 is now available for customer download from CME Group SFTP site.

All client systems must complete the full certification before migrating to iLink 3 in production. All iLink 3 tests are now available in Autocert+.

iLink 3 Binary Order Entry Timeline
Market Segment ID	Market Segment Description	Production Launch
56   68 74 78 80 82	NYMEX Emissions Options; NYMEX Energy, Metals, Softs and Alternative Market Options; COMEX Options; DME Options CME Equity Futures II; CBOT Equity Futures BMD Futures and Options; NYMEX SEF NYMEX Emissions and Non-Crude Energy Futures DME Futures; NYMEX Crude and Crude Refined Energy Futures CME Interest Rate Futures	Sunday, July 26, 2020

Mock Trading Session:

To support customer experience with the iLink 3 protocol in the CME Globex production environment, CME Group will offer customer mock trading sessions on:

• Saturday, July 25, 2020*

Customers are required to register in advance in order to participate in this mock trading session. The updated mock trading session script is now available.

*For any customers who plan to keep their sessions on iLink 3 for production launch weekends, in addition to registering those sessions for the mock they must also update the session protocol in CME Request Center by Friday prior to each iLink 3 production launch weekend.

For the iLink 2 to 3 migration, CME Group does not require customers to obtain new iLink sessions. Customers will have the ability to migrate their existing iLink sessions from iLink 2 to 3 within the CME Request Center starting Sunday, March 15.  For all existing migrated sessions, standard Session Policy Charges will apply. 

Please Note: Customers who chose to create new iLink sessions to facilitate this migration will be subject to the standard Port Activation charges.  However, the Monthly Inactivity charges will be waived for these new iLink sessions during the iLink 3 rollout from May 1 through July 31, after which standard Session Policy charges will apply.

Client systems must be certified for all iLink 3 tests via Autocert+ prior to participate the iLink 3 mock trading sessions. Please note that only iLink 3 sessions will be available for testing CME Globex markets during the mock trading sessions.

Please contact your Global Account Manager for additional information.

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Update on Order Routing and Front-End Audit Trail Requirements for iLink 3

As noted in the CME Globex Notice on January 30, 2020, the required audit trail specifications in the Client Systems Wiki were amended in connection with the implementation of iLink 3.

All customer systems must be certified for Audit Trail for iLink 3 prior to going to the production environment.

For additional information, please review the Market Regulation Advisory Notice on order routing and front-end audit trail regulatory requirements.

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Drop Copy Impact: iLink 3 Binary Order Entry Protocol for MSGW - This Week

This Sunday, July 26, CME Group will continue to introduce iLink 3, a new order entry protocol on CME Globex. When source sessions for Drop Copy migrate to iLink 3, the encoded payload messages sent on Drop Copy will be in ASCII format but will reflect the following changes:

• Deprecated message tags
• Change to FIX Type for Tag 548-CrossID
• Additional Enumeration for Tag 59-TimeInForce

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

The Client Impact Assessment is available and provides detailed information on the changes to the encoded iLink 3 messages.

Certification of client systems leveraging Drop Copy Market Segment Gateway (MSGW) is not required.

Please see the iLink 3 binary order entry deployment schedule.

Mock Trading Session:

To support customer experience with the iLink 3 protocol impacts on Drop Copy in the CME Globex production environment, CME Group will offer customer mock trading sessions on the following dates:

• Saturday, July 25, 2020

The mock trading session script is now available.

CME Group strongly recommends Drop Copy clients thoroughly test these changes to the encoded iLink messages before migration.

Please contact your Global Account Manager for additional information.

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CME Globex Market Segment Gateway Enhancements - This Week

Starting this Sunday, July 26, CME Group will introduce the following Market Segment Gateway (MSGW) enhancements to further safeguard CME Globex infrastructure. With this enhancement, if a Market Segment Gateway (MSGW) iLink session sends a network packet with an incomplete message, that session will be subject to additional processing to ensure the stability of the platform. This processing results in at least 3 microseconds before the message(s) can be sent to the trading engine.

iLink messages impacted by this enhancement will be flagged in the corresponding Acknowledgment sent from CME Globex.

Customers are strongly encouraged to ensure all messages are contained within a single network packet by the following methods:

• Ensure any packet sent to CME group contains only complete messages
• Limit the number of quote entries in a mass quote message that fits within a single TCP packet
• Disable nagling, an algorithm that concatenates a number of small buffer messages to decrease the number of sent packets, on your order routing systems

As a reminder, conduct that disrupts, delays, or overloads the systems or operations of the exchange may be deemed to violate Rule 575 (“Disruptive Practices Prohibited”) or other rules, including Rule 432.Q. (“General Offenses – to commit an act which is detrimental to the interest or welfare of the Exchange or to engage in any conduct which tends to impair the dignity or good name of the Exchange”). Rule 575 further provides that it is a violation to enter or cause to be entered an order where the intent at the time of order entry is to cancel the order before execution. It is also a violation of Rule 575 to intentionally or recklessly enter or cause to be entered an actionable or non-actionable message that may cause an adverse impact on the orderliness of the markets.

Customers interested in finding out how MSGW enhancements would impact their iLink sessions should contact their Global Account Manager for additional information.

In internal testing, iLink round trip times at the 75th percentile and above increased at least 10%.

Please review the Client Impact Assessment for additional information on these Market Segment Gateway enhancements.

The CME Globex MSGW enhancements are currently available for customer testing in New Release. In addition, the new FIX tags for this enhancement will be available for customer testing in AutoCert+ Test Suite - MSGW Protection Enhancements. Certification is not required for these MSGW enhancements.

MSGW Enhancements Timeline
Market Segment ID	Market Segment Description	Production Launch
50 76	CME Interest Rate Options NYMEX Metals, Softs and Alternative Markets Futures; COMEX Futures	Sunday, July 26, 2020
54 68 72 88	CME and CBOT Equity Options CME Equity Futures II; CBOT Equity Futures CBOT Commodity Futures II CME FX Futures and Options	Sunday, August 9, 2020
52 58 60 64 70 78	CME FX Futures and Options II CBOT Interest Rate Options CME, CBOT and MGEX Commodity Options CME Equity Futures - E-mini S&P CME, CBOT and MGEX Commodity Futures NYMEX Emissions and Non-Crude Energy Futures	Sunday, August 16, 2020
56   74 80 82 84	NYMEX Emissions Options; NYMEX Energy, Metals, Softs and Alternative Markets Options; COMEX Options; DME Options BMD Futures and Options; NYMEX SEF DME Futures; NYMEX Crude and Crude Refined Energy Futures CME Interest Rate Futures CBOT Interest Rate Futures	Sunday, August 30, 2020

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Enhancements to Cross Process on CME Globex - This Week

Effective this  Sunday, July 26 (trade date Monday, July 27), pending completion of all regulatory review periods, CME Group will make the following changes to the Committed Cross (C-Cross) process for all C-Cross eligible products on CME Globex.

• If the cross price betters the existing market at the time of entry to CME Globex, and new orders submitted during the Pre-Cross state do not improve on the cross price, the C-Cross order is guaranteed a Better Price Match (BPM) allocation at the beginning of the Cross Period.
• With this enhancement, the BPM will be allocated if the C-Cross price betters the market or betters the size at a current market price. If a C-Cross is entered at-the-market price, but with either side of the order is greater than the resting quantity at top of book, the cross order will receive BPM allocation for the net difference.
  • To reflect this change, Better Price Match (BPM) will be renamed Better Price or Volume Match (BPVM).

Examples: For a C-Cross of 500 contracts at a price of 8

Market Bid-Ask Spread: 800 lots at price 7 – 1,000 lots at price 9

• Cross is BPVM eligible because the cross price of 8 bettered the market.
• No change from current behavior

Market Bid-Ask Spread: 200 lots at price 8 – 1,000 lots at price 9

• Cross is BPVM eligible because the cross bid quantity bettered the resting quantity.
• Cross order will receive BPVM allocation on 300 contracts (differential of cross quantity minus resting quantity (500-200)).
• New behavior

Market Bid-Ask Spread: 1,000 lots at price 8 – 1,000 lots at price 9

• Cross is not BPVM eligible because it improves neither the price nor the quantity.

Additional information is also available in the Regulatory Advisory.

Customer systems already certified for Request for Cross functionality are not required to certify for this enhancement.

This change is currently available in New Release for customer testing.

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Changes to Committed Cross (C-Cross) for CME FX Link - This Week

Effective this Sunday, July 26 (trade date Monday, July 27), and pending all relevant regulatory review periods, CME Group will make the following changes to FX Link:

• permit Committed Cross (“C-Cross”) transactions for CME FX Link on the CME Globex
• where applicable, allow the allocation of better price match (BPM) percentage equal to fifty (50) percent for the following CME FX futures products: Australian dollar (AUD), Canadian dollar (CAD), Swiss franc (CHF), Euro (EUR), British pound (GBP), Japanese yen (JPY), Mexican peso (MXN), and New Zealand dollar (NZD)
• enhance the BPM algorithm to adopt a volume component in addition to the existing best price level component, becoming a Better Price or Volume Match (“BPVM”). Additional information on the enhancement to cross process is available here.

A detailed description of the C-Cross process is available here. More information is also available in the Regulatory Advisory.

The C-Cross process is available in New Release and AutoCert+ for customer testing.

Customer systems already certified for Request for Cross functionality are not required to certify for this enhancement.

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Options on Micro E-mini Equity Index Futures - August 30

Effective Sunday, August 30, 2020 (for trade date Monday, August 31), pending completion of all regulatory review periods, Options on Micro E-mini Equity Index futures will be listed for trading on CME Globex.

These options will be available for customer testing in New Release on Monday, August 3.

These contracts are listed with, and subject to, the rules and regulations of CME.

Options on Micro E-mini Equity Index Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel	ITC Code
Quarterly Micro E-mini S&P 500 Options	MES	EO; EN-UDS	323	MSO
End of Month Micro E-mini S&P 500 Options	EX	EO; EN-UDS	323	EX
Weekly Micro E-mini S&P 500 Options	EX1, EX2, EX3, EX4	EO; EN-UDS	323	EX1, EX2, EX3, EX4
Quarterly Micro E-mini Nasdaq-100 Options	MNQ	NE; NF-UDS	319	MQO
End of Month Micro E-mini Nasdaq-100 Options	MQE	NE; NF-UDS	319	MQE
Weekly Micro E-mini Nasdaq-100 Options	MQ1, MQ2, MQ3, MQ4	NE; NF-UDS	319	MQ1, MQ2, MQ3, MQ4

New MDP 3.0 Channel for Micro E-mini S&P 500 Options

The Micro E-mini S&P 500 options market data will be published on a new MDP 3.0 channel, 323-CME Globex Equity Options - Micro E-mini S&P 500 Options. This new channel will use the multicast IPs previously used for channel 346, but will reflect new host IPs for the Incremental A and B feeds only. All other network information will remain the same. Heartbeats will be published on channel 323 at launch to facilitate client connectivity validation. The transition from 346 to 323 will be effective:

• New Release: Available now
• Production: Sunday, August 2

Channel ID	Environment	Feed Type	IP	Host IPs
346	New Release	Incremental A	224.0.28.84	69.50.112.89
		Incremental B	224.0.28.80	69.50.112.89
323	New Release	Incremental A	224.0.28.84	69.50.112.95
		Incremental B	224.0.28.80	69.50.112.95
346	Production	Incremental A	224.0.31.70	205.209.221.75 205.209.223.75
		Incremental B	224.0.32.70	205.209.212.75 205.209.211.75
323	Production	Incremental A	224.0.31.70	205.209.223.70 205.209.221.70
		Incremental B	224.0.32.70	205.209.211.70 205.209.212.70

Product Launches

Freight Route TC17 (Baltic) Futures - This Week

Effective this Sunday, July 26 (trade date Monday, July 27), pending completion of all regulatory review periods, Freight Route TC17 (Baltic) Futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

Freight Route TC17 (Baltic) Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
Freight Route TC17 (Baltic) Futures	T7C	FT	386

The Freight Route TC17 (Baltic) futures are currently available for customer testing in New Release.

This contract is listed with, and subject to, the rules and regulations of NYMEX.

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NewNew - European Renewable Futures  - August 16

Effective Sunday, August 16 (trade date Monday, August 17), pending completion of all regulatory review periods, four (4) European Renewable Fuel futures (UCOME and UCO) will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

European UCOME & UCO Biodiesel Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
UCOME Biodiesel (RED Compliant) FOB ARA (Argus) Futures	UCR	JR	86
UCOME Biodiesel (RED Compliant) FOB ARA (Argus) vs Low Sulphur Gasoil Futures	UCS	JR	86
UCO T1 CIF ARA Excluding Duty (PRIMA) Futures	UCE	JR	86
UCO T1 CIF ARA Excluding Duty (PRIMA) vs Low Sulphur Gasoil Futures	USG	JR	86

These futures will be available for customer testing in New Release on Monday, August 10.

These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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NewNew - Singapore Gasoil vs. Marine Fuel Spreads - August 16

Effective Sunday, August 16 (trade date Monday, August 17), pending completion of all regulatory review periods, the Singapore Gasoil (Platts) vs. Singapore Marine Fuel 0.5% (Platts) Spread futures and the Singapore Gasoil (Platts) vs. Singapore Marine Fuel 0.5% (Platts) Spread BALMO futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

Singapore Gasoil vs. Marine Fuel Spreads
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Market Data Channel
Singapore Gasoil (Platts) vs. Singapore Marine Fuel 0.5% (Platts) Spread Futures	GMS	CP	386
Singapore Gasoil (Platts) vs. Singapore Marine Fuel 0.5% (Platts) Spread BALMO Futures	GMB	CP	386

These futures will be available for customer testing in New Release on Monday, August 10.

This contract is listed with, and subject to, the rules and regulations of NYMEX.

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Product Changes

NewNew - Amendment of Circuit Breakers for Palladium Futures - This Week

Effective this Sunday, July 26 (trade date Monday, July 27), circuit breakers values will be modified for the following futures.

Amendment of Circuit Breakers for Palladium Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current Circuit Breaker Settings	New Circuit Breaker Setting
Palladium Futures	PA	PD	5%	10%

This change is currently available for customer testing in New Release.

These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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Changes to E-mini Nasdaq 100 Options – Resting Order Eliminations - This Week

Effective this  Sunday, July 26 (trade date Monday, July 27), pending completion of all regulatory review periods, CME Group will shift the strike price in the external instrument name one byte to the left (e.g., truncate the trailing 0 (zero) right-most byte and support one additional byte to the left) for the following E-mini Nasdaq 100 options.

The external instrument name is provided in MDP 3.0 tag 55-Symbol and iLink tag 107-SecurityDesc. As a reminder, CME Group does not recommend parsing the external instrument name to determine instrument characteristics.

Please Note: tag 202-Strike Price on the MDP 3.0 Security Definition (tag 35-MsgType=d) message will not change.

Please Note: To facilitate this change, customers will be asked to cancel all Good ‘Till Cancel (GTC) and Good ‘Till Date (GTD) orders for these contracts, including any User- or Exchange-Defined Spreads, by the close on Friday, July 24. After 16:00 CT on Friday, July 24, any remaining GT orders on these markets will be removed by the CME Global Command Center (GCC).

Changes to E-mini Nasdaq 100 Options
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current External Instrument Name Format	New External Instrument Name Format
E-mini Nasdaq-100 Options	NQ	QZ	NQM0 C9910; NQM0 C0560	NQM0 C0991; NQM0 C1056
E-mini Nasdaq-100 End-of-Month Options	QNE	NW	QNEM0 C9910; QNEM0 C0560	QNEM0 C0991; QNEM0 C1056
E-mini Nasdaq-100 Weekly Options	QN1-QN4	NW	QNEN1 C9910; QNEN1 C0560	QNEN1 C0991; QNEN1 C1056

Example: 
NQM0 C0991 = Strike Price 9,910
NQM0 C1056 = Strike Price 10,560

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

These contracts are listed with, and subject to, the rules and regulations of CME.

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Circuit Breaker Changes for CBOT Treasury Futures - This Week

Effective this Sunday, July 26 (trade date Monday, July 27), and pending all relevant CFTC regulatory review periods, circuit breaker values will be modified for the following CBOT Treasury futures.

Circuit Breaker Changes for CBOT Treasury Futures
Product	iLink: tag 1151-Security Group MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current Circuit Breaker Settings (Limit Up/Down)	New Circuit Breaker Settings
Short-Term US Treasury Note Futures (2-Year)	ZT	ZT	RTH ETH Level 1: 3000 1000 Level 2: 4000 2000 Level 3: 5000 3000 Level 4: 6000 4000 Level 5: No Limit No Limit	0.75 of 1 point (RTH) 0.75 of 1 point (ETH)
3-Year US Treasury Note Futures	Z3N	Z3	RTH ETH Level 1: 3000 1000 Level 2: 4000 2000 Level 3: 5000 3000 Level 4: 6000 4000 Level 5: No Limit No Limit	1.00 point (RTH) 1.00 point (ETH)
Medium-Term US Treasury Note Futures (5-Year)	ZF	ZF	RTH ETH Level 1: 3000 2000 Level 2: 4000 4000 Level 3: 5000 6000 Level 4: 6000 8000 Level 5: No Limit No Limit	1.50 points (RTH) 1.50 points (ETH)
Long-Term US Treasury Note Futures (6½ to 10-Year)	ZN	ZN	RTH ETH Level 1: 3000 2000 Level 2: 4000 4000 Level 3: 5000 6000 Level 4: 6000 8000 Level 5: No Limit No Limit	2.00 points (RTH) 2.00 points (ETH)
10-Year U.S. Treasury Note Futures	TN	Z1	RTH ETH Level 1: 3000 2000 Level 2: 4000 4000 Level 3: 5000 6000 Level 4: 6000 8000 Level 5: No Limit No Limit	3.00 points (RTH) 3.00 points (ETH)
US Treasury Bond Futures	ZB	ZB	RTH ETH Level 1: 3000 300 Level 2: 4000 600 Level 3: 5000 900 Level 4: 6000 1200 Level 5: No Limit No Limit	4.50 points (RTH) 4.50 points (ETH)
Long-Term US Treasury Bond Futures	UB	ZU	RTH ETH Level 1: 3000 300 Level 2: 4000 600 Level 3: 5000 900 Level 4: 6000 1200 Level 5: No Limit No Limit	8.00 points (RTH) 8.00 points (ETH)

Please Note: The current 5-tier static price limit settings will be changed to a fixed dynamic variant applied in rolling 60 minutes look-back periods.

For additional information, please refer to Special Executive Report 8542.

The overview of the Dynamic Circuit Breakers video and Frequently Asked Questions (FAQ) are now available.

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

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NewNew - Changes to Strike Price Listing for Bitcoin Options - August 2

Effective Sunday, August 2 (trade date Monday, August 3), the strike price listing rule will be changed for Bitcoin options on CME Globex and for submission for clearing via CME ClearPort. With this change, Dynamic Strike Eligibility will also be enabled in 25 point exercise prices in all available months.

Changes to Strike Price Listing for Bitcoin Options
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current	New
Bitcoin Options	BTC	B2	All contract months:  100000 point strikes listed for all contract months 10000 point strike increments from 10000-600% above the ATM strike price 1000 point strike increments from 1000-400% above the ATM strike price Nearest two contract months: 500 point strike increments from 50% below to 50% above the ATM strike price and 100 point strike increments from 20% below to 10% above the ATM strike price If underlying future price falls below 5000, 50 point strike increments from 20% below  to 10% above the ATM strike price	All contract months:  100000 point strikes listed for all contract months 10000 point strike increments from 10000-600% above the ATM strike price 1000 point strike increments from 1000-400% above the ATM strike price Dynamic strike creation in 25 point strike increments Nearest four contract months: 500 point strike increments from 50% below to 50% above the ATM strike price Nearest three contract months: 100 point strike increments from 30% below to 30% above the ATM strike price Nearest two contract months: If underlying future price falls below 5000, 50 point strike increments from 20% below  to 10% above the ATM strike price

These options are currently available for customer testing in New Release.

These contracts are listed with, and subject to, the rules and regulations of CME.

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Fixing Price for Options on Russian Ruble/U.S. Dollar (RUB/USD) Futures - August 16

Effective Sunday, August 16 (trade date Monday, August 17), CME Group will begin disseminating a fixing price for RUB/USD options.

To determine whether an option is in or out of the money on this day, the CME Group shall calculate the relevant “CME currency fixing price” from GLOBEX-traded underlying futures contracts as follows:

Tier 1: Take the 60-second average of trade prices, weighted by volume from 12:29:00 to 12:29:59 p.m. Moscow time on the day of determination of the CME currency fixing price.

Tier 2: If less than twenty or no trades occurred during the 60-second interval noted above, take the midpoint of each bid & ask spread where available and average the resulting midpoints over the 60-second interval.

Tier 3: If no trades and no bid and ask prices occurred during the 60-second interval, then CME Group staff shall derive the CME currency fixing price (as a synthetic futures price) from quote vendor spot rates and appropriate maturity forward points.

Fixing Price for Options on Russian Ruble/U.S. Dollar (RUB/USD) Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	ITC Commodity Code
RUB/USD Monthly Options	RU	UO	6R
RUB/USD Weekly Friday Options	RU1-5	UO	6R1-5

Fixing Price data blocks are sent in the MDP 3.0 Market Data Incremental Refresh (tag 35-MsgType=X) with the following attributes:

• Tag 279- MDUpdateAction will be set to 0 = New
• Tag 269-MDEntryType will be set to W = Fixing Price
• Tag 5796-Trading Reference will display the date for which the marker price was calculated

Also, effective Sunday, August 16 (trade date Monday, August 17), CME Group will update the Last Trade Date and Time for the Russian Ruble/U.S. Dollar Monthly Options and Weekly Options:

Update Last Trade Date and Time for Options on Russian Ruble/U.S. Dollar (RUB/USD) Futures
Product	Product ITC Code	Current Rules	New Rules
RUB/USD Monthly Options	6R	11:00 AM Moscow time on the underlying’s LTD (15th day of the contract month)	12:30 PM Moscow time two business days prior to the 15th of the month
RUB/USD Weekly Friday Options	6R1-5	2:00 PM on those Fridays that are not also the termination of trading of a monthly option	12:30 PM Moscow time on those Fridays that are not in the same week as the termination of trading of a monthly option

These changes will be available in New Release for customer testing on Monday, August 10.

These contracts are listed with, and subject to, the rules and regulations of CME.

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Update Underlying Futures Contract for the South African Rand/U.S. Dollar Monthly & Weekly Options and for the Russian Ruble/U.S. Dollar Monthly & Weekly Options - August 16

Effective Sunday, August 16 (trade date Monday, August 17), CME Group will update the underlying contract for the Russian Ruble/U.S. Dollar options and the South African Rand/U.S. Dollar options in addition to amendment to ZAR/USD Futures Fixing.

Update Underlying Contract for Options on Russian Ruble/U.S. Dollar (RUB/USD) Futures and Options on South African Rand/U.S. Dollar (ZAR/USD) Futures
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Product ITC Code	Current Rules	New Rules
RUB/USD Monthly Options	6R	UO	6R	The underlying futures contract is the same as the option contract month (i.e., the January futures is the contract underlying the January option)	The underlying futures contract is the nearest March quarterly cycle (i.e., March, June, September and December) contract month that has not yet terminated trading
RUB/USD Weekly Friday Options	6R1-5	UO	6R1-5	The underlying futures contract is the nearest contract month that has not yet terminated trading	The underlying futures contract is the nearest March quarterly cycle (i.e., March, June, September and December) contract month that has not yet terminated trading
ZAR/USD Monthly Options	RO	A4	RO	The underlying futures contract is the same as the option contract month (i.e., the January futures is the contract underlying the January option)	The underlying futures contract is the nearest March quarterly cycle (i.e., March, June, September and December) contract month that has not yet terminated trading
ZAR/USD Weekly Friday Options	1N-5N	A4	1N-5N	The underlying futures contract is the nearest contract month that has not yet terminated trading	The underlying futures contract is the nearest March quarterly cycle (i.e., March, June, September and December) contract month that has not yet terminated trading
ZAR/USD Futures Fixing	6Z	ZAR	ZRA	Tier 1: Take the 60-second average of trade prices, weighted by volume from 8:59:00 to 8:59:59 a.m. on the day of determination of the CME currency fixing price. Tier 2: If less than twenty or no trades occurred during the 60-second interval, then Exchange staff shall derive the CME currency fixing price (as a synthetic futures price) from quote vendor spot rates and appropriate maturity forward points.	Tier 1: Take the 60-second average of trade prices, weighted by volume from 8:59:00 to 8:59:59 a.m. on the day of determination of the CME currency fixing price. Tier 2: If less than twenty or no trades occurred during the 60-second interval, take the midpoint of each bid & ask spread where available and average the resulting midpoints over the 60- second interval. Tier 3: If no trades and no bid and ask prices occurred during the 60-second interval, then Exchange staff shall derive the CME currency fixing price (as a synthetic futures price) from quote vendor spot rates and appropriate maturity forward points.

These changes will be available in New Release for customer testing on Monday, August 10.

These contracts are listed with, and subject to, the rules and regulations of CME.

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UpdateUpdate - Change to Strike Price Listing for Russian Ruble/U.S. Dollar and South African Rand/U.S. Dollar Options - August 16

† Denotes update to the article

Effective †Sunday, August 16 (trade date Monday, August 17), the strike price listing rule will be changed for Russian Ruble/U.S. Dollar and South African Rand/U.S. Dollar Options and they will be listed for trading on CME Globex.

Change to Strike Price Listing for Russian Ruble/U.S. Dollar and South African Rand/U.S. Dollar Options
Product	MDP 3.0: tag 6937-Asset	iLink: tag 55-Symbol MDP 3.0 tag 1151 - Security Group	Current	New
Options on South African Rand/U.S. Dollar (ZAR/USD) Futures.	RO	A4	Strike increment: 0.0025 Strike range: -/+ 8 strikes Contract listings: 12 monthlies plus four weeklies	+/- 20 strikes at 0.0005 for 3 front monthlies and +/- 20 strikes at 0.0010 for 9 monthlies
Weekly Options on South African Rand/U.S. Dollar (ZAR/USD) Futures	1N,2N,3N,4N,5N	A4	Strike increment: 0.0025 Strike range: -/+ 8 strikes	+/- 15 strikes at 0.0005 for 4 weeklies
Options on Russian Ruble/U.S. Dollar (RUB/USD) Futures.	6R	UO	Strike increment: 0.00025 Strike range: +/- 25 strikes	+/- 20 strikes at 0.00010 for 3 front monthlies and +/- 20 strikes at 0.00020 for 9 monthlies
Weekly Options on Russian Ruble/U.S. Dollar (RUB/USD) Futures.	6R1,6R2,6R3,6R4,6R5	UO	Strike increment: 0.00025 Strike range: +/- 25 strikes	+/- 15 strikes at 0.00010 for 4 weeklies

These contracts are currently available for customer testing in New Release.

These contracts are listed with, and subject to, the rules and regulations of CME.

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Events and Announcements

Removal of Traffic Shaping from the CME Globex Production Feeds - This Week

Starting Saturday, July 25, CME Group will remove traffic shaping from the CME Globex production feeds over two weekends as follows:

• Saturday, July 25 - B Feed
• Saturday, August 1 -A Feed

While, we do not expect the removal of traffic shaping to impact customers, CME Group currently provides a bandwidth utilization tool that provides daily market statistics per market data channel in intervals of -1ms. This bandwidth utilization tool allows customers to more effectively manage their bandwidth subscriptions and network utilization for their connectivity to CME Group markets. Starting November 16, 2020, with the BrokerTec EU integration, it will also include BrokerTec markets.

Any connectivity issues should be reported to the CME Global Command Center (GCC) in the US at +1 800 438 8616, in Europe at +44 20 7623 4747 or in Asia at +65 6532 5010.   

For more information, please contact your Global Account Manager.

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JSON Market Data Now Available via CME Smart Stream on Google Cloud Platform (GCP)  

CME Smart Stream on Google Cloud Platform (GCP) supports JSON formatted product level futures data, allowing customers to use an easy, low-cost, and highly scalable format to drive their business. Data available in this universal format includes top of book information, second market level depth (i.e., second best bid and offer), trade execution, and product statistics including settlement, total daily volume, and open interest.

Smart Stream on Google Cloud Platform JSON is currently available in the Production and New Release environments.

Please review the Client Impact Assessment for additional information.

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Delayed Binary Market Data now Available on CME Smart Stream on Google Cloud Platform (GCP) 

CME Smart Stream on Google Cloud Platform (GCP) supports receiving Delayed Simple Binary Encoded (SBE) Data (10 minute delay), allowing customers to use CME Group data under delayed licensing terms. Traditionally, customers licensing delayed data had to self-manage the throttling of real-time feeds from exchanges per licensing policies. This cloud-based delivery mechanism provides customers with low cost, flexible, and reliable access to data without the requirement to delay the content so they can focus on its use. Receipt of the data and licensing removes the requirement, complexity, and cost of an intermediary service.

Delayed Binary Market Data on CME Smart Stream on Google Cloud Platform (GCP) is currently available in the Production and New Release environments.

Please review the following additional processing information:

• CME Smart Stream on GCP
• Delayed Data Topic Names

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BrokerTec Markets on CME Globex  

For comprehensive information on the BrokerTec migration, please contact your Global Account Manager.

All APIs for BrokerTec on CME Globex are now available in New Release for client testing. More information about the APIs, onboarding and connectivity options is available on the BrokerTec Support Portal.

• To access the BrokerTec Support Portal you must be an existing customer or vendor with a signed Non-Disclosure Agreement (NDA) in place with BrokerTec.

Client systems must certify for all applicable APIs before the first mock trading session in October 2020. The AutoCert+ test suites are rolling out now for client system certification.

BrokerTec Integration Timeline

• October – November: Production Mock Trading Sessions
• November 16 – BrokerTec EU Launch
• December 7 – BrokerTec US Launch

The full release calendar is available on the BrokerTec Support Portal.

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