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December 13, 2018

Exchange System Updates

CME: Price Precision Extension and Globex MDP3 SBE Schema Update

August 12 – January 13

Per CME Globex Notices (some information omitted, see Additional Resources for full text):

CME Group is implementing end-to-end technology changes to support increased price granularity. Currently, CME Group systems support a maximum of 7 decimals. With this initiative, products with up to 9 decimals may be listed and traded. On Sunday, January 13, 2019 (trade date Monday, January 14), pending regulatory approval, the 2-Year Treasury Note futures, all 2-Year Treasury Future Spreads (including Calendar Spreads, Tail Spreads and Inter-Commodity Spreads with a 2-Year Treasury Future) along with the futures portion of covered options UDS, will move from 7 decimals to 8 to support trading at 1/8 of 1/32.

A production test instrument for the 2-Year Treasury Note futures is currently available on CME Globex to give customers the ability to confirm system readiness for the introduction of 8-digit decimal price precision.

X_TRADER® Platform Impact
A new gateway package to support the schema update was released on July 27. This package is required for the schema rollouts.

A new version of the gateway package and clients to support the reduced tick for the 2 Year Treasury Note has been released, with test instruments in Production available on November 18. Go-live is Sunday, January 13 with a trade date of Monday, January 14. The following clients, along with the new gateway, will need to be installed for any customers who plan on trading these products with the new price precision:

  • X_TRADER 7.17.87 or higher
  • X_RISK® 7.17.86 or higher
  • FIX Adapter 7.18.7 or higher
  • TTAPI 7.17.86 or higher
  • X_TRADER API 7.17.86 or higher
  • Algo SE 7.17.86 or higher
  • Synthetic SE 7.17.86 or higher
  • Autospreader® 7.17.86 or higher
  • CME Gateway 7.18.42

The following versions are now available in DDE for customer testing:

  • X_RISK 7.17.86
  • FIX Adapter 7.18.7
  • TTAPI 7.17.86
  • X_TRADER API 7.17.86
  • Algo SE 7.17.86
  • Synthetic SE 7.17.86
  • Autospreader 7.17.86
  • CME Gateway 7.18.42

TT® Platform Impact
No impact. Customers do not need to register/participate in mock trading sessions as we have tested internally.

Additional Resources
Globex Notices December 3, 2018