• CME Globex Notices: June 27, 2022

      • To
      • CME Globex and Market Data Customers
      • From
      • Global Market Solutions & Services (GMSS)
      • #
      • 20220627
      • Notice Date
      • 30 June 2022

    • Topics in this issue include:

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

      Critical System Updates

      UpdateUpdate - CME Benchmark Administration Premium SBE Schema Update - August 7

      † Denotes update to the article

      Effective †Sunday, August 7 (trade date Monday, August 8), CME Group will launch a new Simple Binary Encoding (SBE) schema on CME Benchmark Administration Premium channel ID 261. †With the introduction of the new SBE schema and streaming CVOL, messaging is expected to increase up to 100 packets per second. The new SBE incremental schema will be sent on:

      Please review the Client Impact Assessment for additional details.

      The new SBE schema is currently available for customer testing in New Release.

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      UpdateUpdate - CVOL Live Streaming Launch and SBE Template Migration - August 7

      Effective †Sunday, August 7 (trade date Monday, August 8), CME Group will launch CME Group Volatility Index (CVOL™), Live Streaming and migrate all current CVOL messaging to a new Simple Binary Encoding (SBE) template. †With this launch, messaging is expected to increase up to 100 packets per second.

      The CVOL indicator market data messages will be sent on:

      Please review the Client Impact Assessment for additional details.

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

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      iLink 3 SBE Schema Update - August 28

      To support the upcoming CME Globex enhancements, the iLink 3 SBE schema will be updated to version 8 starting Sunday, August 28. More information regarding these enhancements will be published in the future CME Globex Notices. The overview of iLink 3 schema updates is now available. 

      In order to ease customer development efforts, the new SBE schema files will support Template Extension for iLink 3 messages sent from client systems to CME Globex until the end of day Friday, November 18. Client systems can send iLink 3 messages using schema version 7 or 8; however CME Globex will only send messages using schema version 8.

      Futures and Options on Futures - Production Rollout

      DATE MESSAGES FROM CLIENT MESSAGES FROM CME GLOBEX

      Currently

      V7

      V7

      August 28 through October 2: Phased launch

      V7 or V8 for market segments that support V8

      V8 for market segments that support 8

      October 2

      V7 or V8 for all segments

      V8 only

      November 20

      V8 only

      V8 only

      Effective Sunday, November 20, version 8 schema will be the only version supported in production. Client systems can only send version 8 messages.

      The new version 8 schema will be available in New Release for customer testing starting on Tuesday, July 5.

      To support the new iLink 3 schema rollout the CME SFTP site will be updated as follows:

      NEW RELEASE: /MSGW/PRODUCTION/TEMPLATES
      SCHEMA VERSION CURRENT STATE July 5
      V7 ilinkbinary.xml iLinkbinary_v7.xml

      V8

      		 n/a ilinkbinary.xml
      PRODUCTION: /MSGW/PRODUCTION/TEMPLATES
      SCHEMA VERSION CURRENT STATE August 28
      V7 ilinkbinary.xml iLinkbinary_v7.xml
      V8 n/a ilinkbinary.xml

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      UpdateUpdate - Event-Based Contracts - September 18

      † Denotes update to the article

      †Effective Sunday, September 18 (trade date Monday, September 19), event-based options contracts will be listed for trading on CME Globex, pending completion of all regulatory review periods. Event-based contracts are daily-expiring, cash settled, European Style, options on futures contracts. Event-based contracts will provide access to some of our most recognized global products, including metals, energy, equities, and foreign currencies. Additionally, non-tradable underlying futures will be listed to support the new event-based options. Event-based contracts will be listed on a new MDP 3.0 channel (329 - Event-Based Contracts).  

      Please review the Client Impact Assessment for additional details.

      The event-based contracts are currently available for customer testing in New Release.

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

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      Product Launches

      NewNew - BTICs on New York Cryptocurrency Reference Rates - July 24

      Effective Sunday, July 24 (trade date Monday, July 25), pending completion of all regulatory review periods, BTICs on New York Cryptocurrency Reference Rates will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

      BTICs on New York Cryptocurrency Reference Rates
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Market Data Channel

      BTIC on Bitcoin futures against New York Close (Bitcoin Reference Rate New York – BRRNY)

      		 BNB BI 326

      BTIC on Micro Bitcoin futures against New York Close (Bitcoin Reference Rate New York – BRRNY)

      		 MYB BI 326

      BTIC on Ether futures against New York Close (Ether-Dollar Reference Rate New York - ETHUSD_NY)

      		 ENB RN 326

      BTIC on Micro Ether futures against New York Close (Ether-Dollar Reference Rate New York - ETHUSD_NY)

      		 EYB RN 326

      These  BTICs will be available for customer testing in New Release on Monday, July 11.

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

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      NewNew - CBL Carbon Offset Trailing Futures - August 7

      Effective Sunday, August 7 (trade date Monday, August 8), pending completion of all regulatory review periods, CBL Carbon Offset trailing futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

      CBL Carbon Offset Trailing Futures
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Market Data Channel
      CBL Core Global Emissions Offset Trailing (C-GEO-TR) Futures COT VX 380
      CBL Nature-Based Global Emissions Offset Trailing (N-GEO-TR) Futures NOT VX 380

      These  CBL Carbon Offset trailing futures will be available for customer testing in New Release on Monday, July 25.

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

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      UpdateUpdate - Event-Based Contracts - September 18

      † Denotes update to the article

      †Effective Sunday, September 18 (trade date Monday, September 19), event-based options contracts will be listed for trading on CME Globex, pending completion of all regulatory review periods. Event-based contracts are daily-expiring, cash settled, European Style, options on futures contracts. Event-based contracts will provide access to some of our most recognized global products, including metals, energy, equities, and foreign currencies. Additionally, non-tradable underlying futures will be listed to support the new event-based options. Event-based contracts will be listed on a new MDP 3.0 channel (329 - Event-Based Contracts).  

      Please review the Client Impact Assessment for additional details.

      The event-based contracts are currently available for customer testing in New Release.

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

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      Bursa Malaysia Derivatives (BMD) Crude Palm Oil vs East Malaysia Crude Palm Oil Inter-Commodity Futures Spreads - October 2

      Effective Sunday, October 2 (trade date Monday, October 3), and pending final regulatory approval, inter-commodity spreads between Bursa Malaysia Derivatives (BMD)’s Crude Palm Oil vs BMD East Malaysia Crude Palm Oil futures will be made available for trading on CME Globex.

      BURSA MALAYSIA DERIVATIVES (BMD) CRUDE PALM OIL VS EAST MALAYSIA CRUDE PALM OIL INTER-COMMODITY FUTURES SPREADS
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 TAG 762-SECURITYSUBTYPE Market Data Channel
      Crude Palm Oil vs East Malaysia Crude Palm Oil Futures FCPO BC IS 430

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

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

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      Product Changes

      Implementation of Dynamic Circuit Breaker Functionality for Select NYMEX Contracts - July 10

      Effective Sunday, July 10 (trade date Monday, July 11), dynamic circuit breaker functionality will be implemented for select NYMEX contracts.

      The dynamic circuit breaker settings for all CME Globex products are defined in the CME Globex Product Reference.

      Implementation of Dynamic Circuit Breaker Functionality for Select NYMEX Contracts
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 NEW DYNAMICALLY CALCULATED VARIANT
      CBL Global Emissions Offset Futures GEO VX 10% of Dynamically Calculated Reference Price
      CBL Nature-Based Global Emissions Offset Futures NGO VX

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

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      Listing Cycle Expansion for E-mini S&P 500 Tuesday and Thursday Weekly Options - July 17

      Effective Sunday, July 17 (trade date Monday, July 18), the listing cycle for the following E-mini S&P 500 options will be expanded on CME Globex.

      Listing Cycle Expansion for E-mini S&P 500 Tuesday and Thursday Weekly Options
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Current Listing Schedule New Listing Schedule
      E-mini S&P 500 Tuesday Weekly Options - Week 1-5 E1B-E5B EW One Weekly Tuesday Option Two Weekly Tuesday Options
      E-mini S&P 500 Thursday Weekly Options - Week 1-5 E1D-E5D

       

      		 EW One Weekly Thursday Option Two Weekly Thursday Options

      This change will be available for customer testing in New Release on Monday, July 11.

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

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      Change to Strike Price Listing for U.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index Average Price Option - July 17

      Effective Sunday, July 17 (trade date Monday, July 18), the strike price listing rule will be changed for U.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index Average Price options listed for trading on CME Globex and for submission for clearing via CME ClearPort.

      Change to Strike Price Listing for U.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index Average Price Option
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 Current New
      U.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index Average Price Option HRO H1 ATM + 30 strikes in 5.00 increments plus dynamic strikes in 5.00 increments above and below the highest and lowest pre-listed strikes for the nearest 24 months.
      Dynamic strikes only for months 25+ at 5.00 increments.      		 ATM + 12 strikes at 25.00 increments plus dynamic strikes at 5.00 increments for the nearest 24 months.
      Dynamic strikes only at 5.00 increments for months 25+.

      This change will be available for customer testing in New Release on Monday, July 11.

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

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      Renaming BTICs on Cryptocurrency Futures - July 24

      Effective Sunday, July 24 (trade date Monday, July 25), the BTICs on Cryptocurrency futures will be renamed as follows:

      Renaming BTICs on Cryptocurrency Futures
      Current Product Name New Product Name iLink: tag 1151-Security Group MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group
      BTIC on Bitcoin futures BTIC on Bitcoin futures against London Close (Bitcoin Reference Rate – BRR) BTB BX
      BTIC on Micro Bitcoin futures BTIC on Micro Bitcoin futures against London Close (Bitcoin Reference Rate – BRR) MIB BX
      BTIC on Ether futures BTIC on Ether futures against London Close (Ether-Dollar Reference Rate – ETHUSD_RR) ETB RJ
      BTIC on Micro Ether futures BTIC on Micro Ether futures against London Close (Ether-Dollar Reference Rate – ETHUSD_RR) EMB RJ

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

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      Change to Price Format for Dow Jones Real Estate Futures - August 7

      Effective Sunday, August 7 (trade date Monday, August 8), the price format for Dow Jones Real Estate futures will be changed as follows:

      Change to Price Format for Dow Jones Real Estate Futures
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 TAG 9787-DISPLAYFACTOR
      (CURRENT)      		 TAG 9787-DISPLAYFACTOR (NEW)
      Dow Jones Real Estate Futures RX RX 0.100000000 0.010000000

      Please note: The financial value of the minimum tick will be unchanged.

      This change will be available in New Release for customer testing on Monday, July 11.

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

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      NewNew - Changes to Silver and Copper Weekly Monday and Wednesday Options: Resting Order Eliminations - August 7

      Effective Sunday, August 7 (trade date Monday, August 8), pending regulatory approval, the match algorithm for silver and copper weekly Monday and Wednesday options will be amended as follows:

      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, by the close on Friday, August 5. After 16:00 CT on Friday, August 5, any remaining GT orders on these markets will be removed by the CME Global Command Center (GCC).

      Changes Silver and Copper Weekly Monday and Wednesday Options: Resting Order Eliminations
      Product MDP 3.0: tag 6937-Asset iLink: tag 55-Symbol
      MDP 3.0 tag 1151 - Security Group      		 CURRENT TAG 1142-MATCHALGORITHM NEW TAG 1142-MATCHALGORITHM
      Silver Weekly Monday Option M1S - M5S SO
      (UDS: S1)

      K-Split FIFO and C-Pro Rata

      		 F-FIFO
      Copper Weekly Monday Option H1M - H5M

      1U
      (UDS: 2U)
      Silver Weekly Wednesday Option W1S-W5S SO
      (UDS: S1)
      Copper Weekly Wednesday Option H1W - H5W 1U
      (UDS: 2U)

      These changes will be available for customer testing in New Release on Monday, July 11.

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

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      Events and Announcements

      Messaging Efficiency Program Q3 2022 Benchmarks

      The Q3 2022 CME Globex Messaging Efficiency Program Product Group Benchmarks are now available. No changes were made to Q3 2022 existing Product Group Benchmarks vs. Q2 2022 Product Group Benchmarks.

      The CME Globex Messaging Efficiency Program creates fair business guidelines by which customers are billed a surcharge for overly high message rates.

      CME Globex firms who exceed the benchmark ratios in applicable product groups and are signed-up accordingly, receive email notifications of any potential surcharges. CME Globex firms who have access to the Firm Administrator Dashboard have the ability to view their messaging statistics on a T+1 basis.

      Please contact your Global Account Manager with any questions.

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      NewNew - CME Group DR Datacenter Migration and Test

      CME Group is pleased to announce the move and upgrade of our backup datacenter as part of our commitment to the protection of our customers. Last year, we completed the migration of our Disaster Recovery clearing systems, and we are now focused on CME Globex and supporting systems. To ensure customer can connect to our new backup datacenter, CME Group will be holding mock disaster recovery testing on Saturday, September 10.

      Please Note: Customers do not need to test from Disaster Recovery – please plan to stay in your production environment.

      Customers must register in advance to participate. Please review the mock trading script for additional details.

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      NewNew - Internal Testing Reminder

      As a reminder, CME Group internal testing in the Production environment can occur during the weekend. Any trades or market data generated during these tests should be disregarded.

      Clients can connect to CME Globex services beginning at 10:30 a.m. Central Time (CT) Sundays to prepare for weekly start-up. Clients should ensure all services are disconnected by 5:00 p.m. CT Fridays to avoid receiving internal test data.

      CME Group Trading and Clearing Hours are also available on the CME Group website.

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CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

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