Upon receipt of a properly executed Consent to Arbitration the CME Division of Market Regulation will direct a Notice of Claim to each respondent, enclosing the Consent form and any attachments, and requesting a written answer to the claim. CME Rule 602 requires the filing of such an answer within 21 calendar days of the respondent's receipt of the Notice.

A respondent may also be asked by the Division of Market Regulation to furnish relevant specific records with his or her answer to the dispute. Even if no such request is made, however, the respondent is encouraged to submit all supporting documentation with an answer.

The Division of Market Regulation will forward the respondent's answer to the claimant, who may submit a written reply. Any reply by the claimant will likewise be directed to the respondent for any additional response.