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CBOT and Hosted Exchange Products on CME Globex  

Effective January 2008, the CBOT and Hosted Exchange functionality and products are scheduled to launch on the CME Globex electronic trading platform.

Updated Mock Trading Plan
Please review the updated CBOT Mock Trading Plan, now available online.

• Removed Commodity options strategy tests
• Updated GCC phone number

Please note: all sites are required to participate in at least one mock trading session.

Updated Client Impact Assessment
The Client Impact Assessment for the CBOT and Hosted Exchange launch on CME Globex has been updated as follows:

• New Appendix - Decimal and Fractional Tick Conversion Grid
• Decimal to fractional pricing conversion details and examples
• Decimal tick conversion information and examples
• Clarification for Pro-Rata with TOP Order Percentage Allocation with Minimum/Maximum and LMM (Q) for futures versus options

All documentation for the migration of CBOT and Hosted Exchange products to the CME Globex electronic trading platform is available on the CME Group Web site.

All CBOT-related functionality and CBOT and Hosted Exchange products, including futures, options, spreads and strategies, are currently available for testing in New Release. System providers who support options on futures are required to certify for Cabinet pricing in New Release via the AutoCert+ tool.

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Volatility-Quoted Options Launch  
In February 2008, CME Group is launching volatility-quoted options on six FX options products: EuroFX, British pound, Japanese yen, Canadian dollar, Swiss franc and Australian dollar.

Volatility-quoted options support delta-neutral trading, which virtually eliminates the execution risk inherent to trading premium price options. The volatility-quoted options will utilize the existing FX options and futures products.

All of the volatility-quoted options suite, including all maturities in the American and European style and Straddle, Strangle and Vertical strategies, are currently available in the New Release environment for customer testing.

More information on these new products and the associated messaging and functionality enhancements is available in the Volatility-Quoted Options Client Impact Assessment.

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Changes to Instrument Creation (MO) Replay Channels  
Effective Sunday, March 30, 2008, CME Group will decommission the Instrument Creation (MO) Replay channels 1 and 16 in the production and Certification environments. Channels 1 and 16 will be decommissioned in New Release effective Sunday, March 2.

The new MO Replay channels on the Market Data Platform, introduced in November 2007, allow customers to listen only to the MO messages for which they receive market data. With these new channels, every product RLC data channel (e.g., channel 7, Equity futures; channel 8, Equity options, etc.) now has a dedicated MO Replay channel.

Please note these changes only affect the RLC-format channels. There are no changes to the ITC 2.1-format channels.

The new MO Replay channels are currently available in New Release, Certification and production. The channel definition tables are available for Certification and New Release at www.cme.com/certsdk, and for production at www.cme.com/prodsdk.

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CME Globex Trader Decommission Postponed  
CME Group has postponed the CME Globex Trader decommission until May 30, 2008.

In 2006, CME announced the decision to decommission CME Globex Trader by the end of 2007 because of the system's aging functionality and infrastructure and declining user base. In response to customer feedback, CME Group will postpone the CME Globex Trader decommission to allow customers to use CME Globex Trader on the CME trading floors at 20 S. Wacker until their closure.

Please note: although CME Globex Trader will be available until the floor migration is complete, CBOT and Hosted Exchange products will not be available for trading on CME Globex Trader, and CME Globex Trader terminals will not be available on the new CME Group floors at 141 W. Jackson. Traders may replace CME Globex Trader with a third-party application. CME Group front-end applications include EOS Trader, an options-centric trading application with limited futures trading functionality, and Galax-C, a handheld system used to access CME Globex markets from the open outcry trading floors.

Finally, with the postponement there will be no change to the monthly fees, and VPN access will continue to be available until May 30, 2008.

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FIX/FAST Launch  
On Sunday, October 14, 2007, CME Group launched the new FIX/FAST market data format on the CME Globex platform. FIX/FAST is the basis of a new industry standard for market data and improves bandwidth scalability. The new format is based on FIX SM and FAST SM protocols for increased efficiency. FIX provides the core message structure and syntax while the FAST protocol increases optimization.

Customers are now able to certify their applications for FIX/FAST in New Release via AutoCert+. More information on certification is available in the AutoCert+ User Guide. FIX/FAST is currently available for customer testing in the New Release environment. Customer certification for FIX/FAST is mandatory.

Customers must complete their migration to FIX/FAST from the legacy RLC format market data by October 17, 2008. After October 17, surcharges will be assessed for each site still receiving RLC format market data.

• $2,000 per week in October
• $4,000 per week in November
• $6,000 per week in December

The legacy RLC format market data will be eliminated no later than the end of December 2008.

The FIX/FAST Software Development Kit, including Market Data Platform channel definitions and reference code, is available online at www.cme.com/fixfast.

Channel Definitions
As previously announced, the FIX/FAST channel definition tables in PDF format will be available until January 2008. After January 2008, the Market Data Configuration Service will be the only source for channel definitions. The Market Data Configuration Service is designed to ease the recommended procedure of verifying templates and channel configuration each week at Sunday start-up.

The Market Data Configuration Service is currently available and allows customers to receive an XML file from an FTP site with all the Market Data Platform channel information (multicast IP, product group and ISIN served) for FIX/FAST.

More information on the Market Data Configuration Service is available in the Core Functionality module of the FIX/FAST SDK, Section 2.1.2.2.

Please note: there is no change for the RLC and ITC2.1 format market data channel definition tables.

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ITC2.1 Market Data Platform Channel Changes  
The legacy ITC2.1 Market Data Platform channels 4, 5 and 6 for CME Globex market data were decommissioned on December 16, 2007.

• Channel 4 - CME Globex Futures
• Channel 5 - CME Globex Options
• Channel 6 - CME Globex Spreads

The legacy ITC2.1 Market Data Platform channels were replaced with the following new channels. This new channel schema, launched on Sunday, October 14, 2007, provides more granular and scalable ITC2.1-format market data:

• Channel 200 and 201 - CME Globex Equity Futures and Options
• Channel 202 and 203 - CME Globex Interest Rate Futures and Options
• Channel 204 and 205 - CME Globex FX Futures and Options
• Channel 206 and 207 - CME Globex Commodity, Industrials and TRKRS Futures and Options

These changes only impact the ITC 2.1 channels; there was no change to RLC-format channels.

Please note: all ITC 2.1 channels for CME Globex, 4-6 and 200-207, disseminate Top of Book market data only.

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New Release Maintenance Window Change  
Effective Wednesday, November 21, 2007, the weekly maintenance window in the New Release environment now starts at 11 a.m. Central time for options on futures and EOS Trader. Futures orders are still accepted until 12 p.m. CT.

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CME Group EIT Code Change  
Effective Sunday, November 18, the Extended Instrument Type (EIT) code was updated for these listed products. These values more clearly identify the correct product complex for customers. The EIT code is available in the Instrument Creation (MO) message, position 897.

Eligible values for the EIT code are:

• A - Commodity
• C - Foreign Exchange
• E - Equity
• G - Energy
• I - Interest Rate
• L - Metals
• M - Alternative Markets

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Instrument Creation (MO) Message Enhancements  
Effective Sunday, November 18, 2007, the following enhancements were made to the Instrument Creation (MO) RLC-format market data message to prepare for the upcoming CBOT product launch on CME Globex.

More information on these changes to the MO message, RFC and RFQ for cross functionality, is available in the CBOT Client Impact Assessment.

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Certification and New Release Access via the London Hub!  
Direct access to the Certification and New Release environment is now available via the CME Globex St. Pancras London Hub.

Beginning Monday, November 19, CME Group customers are now able to access the Certification and New Release environments via the London Hub. This access option allows customers to fully leverage the capabilities of the environments, including production-level market data messaging for performance testing, on circuits up to 100mbps. Access to the Certification and New Release environments requires one or two new circuits, depending on the chosen solution, to the London Hub which can be ordered now from any of the CME Group-approved telecommunication providers. The annual fee for this service is $6000.00 for one or two circuits.

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