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CME User-Defined Spreads

CME Group employs two types of option spreads: Exchange-Defined Spreads and User-Defined Spreads.

Exchange-Defined Spreads (EDS) are options strategies which were published each week in the initial product download. TT customers received these strategies via TT CME and TT CBOT Gateways. The exchange delisted EDS in late 2009 and moved to a User-Defined Spread model.

User Defined Spreads (UDS) are options strategies created by the trader that includes the spread’s legs and ratios. Once created, these strategies are disseminated in the exchange market data feed while the strategy remains active.

CME Group has two types of User-Defined Spreads: Covered and Combo options spreads. TT supports the creation of User-Defined Spreads. This document defines each of these options spreads and describes how to create them using the X_TRADER Create Strategy window.