05.17.2018

CME Group Issues Pricing Migration Roadmap

As announced last November, CME Group is enhancing its CME Globex systems to support up to 9 decimals, and Clearing systems up to 8 decimals of price precision. The technical changes are across all CME Group products, and your systems need to be ready irrespective of the asset classes and contracts in which you are active.

These changes have been widely communicated by our Global Account Management and Clearing House Operations teams who have been in touch with customer technology and operations teams since last October, but we are taking this extra step to confirm all key customers are informed. Please check with your internal teams and vendors to confirm all your systems will be ready.

IMPACTED TECHNOLOGY SERVICES & TIMING:

This change will impact Order Routing (iLink), Market Data (MDP), Drop Copy, Straight-Through Processing (STP) and Clearing services according to the time frame below.

The first of these technology changes will be on August 12, 2018, for which the market data schema change to MDP will require client systems using MDP to be ready in order to correctly display CME Group Market Data.

FIRST CONTRACT IMPACTED:

The first contract that will use the increased price precision will be the 2-Year Treasury Note futures, which will move to 8 decimals on January 13, 2019.

However, the technology changes are across all CME Group products. Your systems need to be ready irrespective of the asset classes and contracts in which you are active.

TECHNOLOGY CHANGE TIMETABLE:

August-November 2018 – Market Data new schema rollout in Production – MDP systems must be able to handle prices with 9 decimal places, including trailing zeros.

November 2018 – Test Product in Production –iLink, MDP3 and Drop Copy messages on the test product will publish 8 meaningful decimal places.

January 13, 2019 – 2-Year Treasury Note futures prices will extend to 8 decimal places. All customer systems must be ready to process 8 decimal place prices and the corresponding fractional display.

FOR MORE INFORMATION:

For CME Globex systems support, contact Global Account Management at globalaccountmanagement@cmegroup.com or +1 312 634 8700 in North America, +44 20 3379 3754 in Europe or +65 6593 5505 in Asia.

For CME Clearing System support, contact Clearing Operations at ccs@cmegroup.com or +1 312 207 2525 in North America, +44 20 3379 3198 in Europe or +65 6593 5591 in Asia.
Learn More

Related articles

  1. FX Option Volumes Flat Despite Brexit Vote

    Reviewing FX market development, five years ago to the present day.

  2. OTC Link ATS To Monitor Latency

    Chicago-based firm wants market access and delivery of market data at low latency speeds.

  3. SIP Speeding Up

    SIX trade data can be transmitted more than twice as fast than on fiber optic technology.

  4. The rules may differ, but market abuse is market abuse.

  5. Institutions Face Options-Integration Challenge

    The offering bridges enterprise and Fidessa hosted infrastructures.