CME: Mandatory iLink 3 Binary Order Entry Protocol for MSGW and BrokerTec Migration
Q1 2021
CME Group will be launching iLink 3, a new order-entry protocol for trading futures, options and BrokerTec products on CME Globex. All customers connected via Market Segment Gateway (MSGW) are encouraged to migrate to iLink 3 as early as possible prior to the iLink decommission. iLink 2 and iLink 3 for MSGW will run in parallel until February 26, 2021, and at that time will incur additional charges by CME. On March 28, 2021, iLink 2.0 for MSGW will be decommissioned.
BrokerTec products will migrate to CME in Production on January 31, 2021 and will only be available on iLink 3 MSGW. Customers will need to obtain a dedicated iLink Session ID to be used for only the BrokerTec market segment. CGW will remain on iLink 2 and will not be impacted.
MSGW iLink3 for CME and BrokerTec products is now available in UAT for customer testing.
CME will be holding Saturday Mock Sessions for BrokerTec. TT will be participating in the test on January 9, 2021. Customers who wish to participate should register with the CME via this link and contact your Onboarding/Customer Success Manager to confirm with TT.
For the iLink 2 to 3 migration, CME Group does not require customers to obtain new iLink sessions. Customers will have the ability to migrate their existing iLink sessions from iLink 2 to 3 within the CME Request Center. For all existing migrated sessions, standard Session Policy Charges will apply.
X_TRADER® Platform Impact
X_TRADER will not support iLink 3.0 for MSGW or BrokerTec products that will migrate to CME on January 31, 2021.
Customers keeping Link 2.0 MSGW connections will need to move their connections to CGW to maintain access to CME. Customers are strongly encouraged to migrate to the TT platform in early Q1/2021.
TT® Platform Impact
We will support both the iLink 3.0 upgrade and the BrokerTec US migration to CME on the TT platform. iLink 3.0 for CME products is currently available in UAT for customer testing. BrokerTec products are now available in UAT.
Additional Resources
Globex Notice October 1, 2020
CME: Changes to Minimum Price Increment and Spread Type for Palladium Futures – Resting Order Elimination
December 6
Effective Sunday, December 6 (trade date Monday, December 7), Palladium Futures will be changed as follows:
- Tag 969-MinimumPriceIncrement
- Tag 762-SecuritySubType
X_TRADER and TT Platform Impacts
To facilitate the change, customers should cancel all Good ‘Till Cancel (GTC) and Good ‘Till Date (GTD) orders after the close on Friday, December 4. After 16:00 CT on Friday, December 4, all remaining GT orders for these products will be cancelled or deleted by CME Global Command Center.
Additional Resources:
Globex Notice November 16, 2020
CME: Amending MAC SOFR Swap Futures Year Format
December 6
Effective Sunday, December 6 (trade date Monday, December 7), the MAC SOFR Swap Futures year format will be amended from two-digit year to one-digit year.
| Product | Product Code | Current Symbol | New Symbol |
| 2-Year MAC SOFR Swap Futures | T1S | T1SH21 | T1SH1 |
| 5-Year MAC SOFR Swap Futures | F1S | F1SH21 | F1SH1 |
| 7-Year MAC SOFR Swap Futures | S1S | S1SH21 | S1SH1 |
| 10-Year MAC SOFR Swap Futures | N1S | N1SH21 | N1SH1 |
| 20-Year MAC SOFR Swap Futures | E1S | E1SH21 | E1SH1 |
| 30-Year MAC SOFR Swap Futures | B1S | B1SH21 | B1SH1 |
Euronext: Oslo Børs Optiq Migration
December 7
Following Euronext’s acquisition of Oslo Børs in June 2019, Oslo Børs’ trading systems across asset classes will migrate from the Millennium Exchange and SOLA systems to the Euronext Optiq systems. The migration timeline is as follows:
- April 13: Availability in p-EUA
- November 14: Dress rehearsals in Production successfully completed on the TT Platform
- December 7: Production go-live
The Oslo Børs Migration Guidelines and Guide to New Trading System documents are available in the IT Documentation section of the Euronext Connect customer portal.
X_TRADER Platform Impact
Oslo Børs products will not be supported on the X_TRADER platform.
TT Platform Impact
Oslo Børs products are available for customer testing in UAT.
TT: FIX SSL Certificate Update
December 11
For customers whose FIX engine natively supports SSL encryption, or who have implemented FIX session encryption using STunnel, TT provides a TTFIX.crt file with the public certificates used by the TT platform FIX endpoint.
On October 5, 2020, TT updated the stunnel.zip file located in the Download Center in order to update the soon-to-be-expired certs from the TTFIX.crt bundle. All customers who use STunnel will need to download a new zip file and apply it by December 11, 2020.
- Added TT platform STAR.TRADE.TT expiry September 20, 2021 (DC)
Additional Resources
Stunnel.zip file
Directions for configuring stunnel with TTFIX.crt
HKEX: New Production Additions – Four New Futures and Options Products
December 7
HKEX is launching four new futures and options products on December 7, 2020.
X_TRADER Platform Impact
To trade these products, apply an updated pMerge file to all HKEX Gateways:
- Copy the HKEX.pmg file to <drive letter>:\tt\config.
- Stop GuardServer.
- Navigate to <drive letter>:\tt\bin.
- Double-click pMerge.exe. The Enter Exchange Name window appears.
- Specify the exchange name and flavor and click OK. The Open Guardian product table merge file window appears.
- Navigate to <drive letter>:\tt\config and select the HKEX.pmg file. pMerge will update the existing Guardian Product Table with the correct values. After pMerge completes its tasks, the pMerge status bar displays Finished.
- Close the pMerge status bar.
- Start GuardServer.
The above listed steps need to be repeated for each HKEX Gateway
After pMerge runs, verify that the Guardian Product Table contains the following values:
| Contract | Product Code | Point Value |
| Semiconductor Manufacturing Int’l Corp Futures and Options | SMC | 2500 |
| Alibaba Health Information Technology Ltd. Futures and Options | ALH | 2000 |
| Kingdee International Software Group Co. Ltd. Futures and Options | KDS | 2000 |
| Ping An Healthcare and Technology Ltd. Futures and Options | PHT | 500 |
TT Platform Impact
No customer action required. Products will be available automatically.
HKEX: New Production Addition – Hang Seng TECH Index Options
January 18
HKEX is launching Hang Seng TECH Index Options on January 18, 2021.
X_TRADER Platform Impact
To trade these products, apply an updated pMerge file to all HKEX Gateways:
- Copy the HKEX.pmg file to <drive letter>:\tt\config.
- Stop GuardServer.
- Navigate to <drive letter>:\tt\bin.
- Double-click pMerge.exe. The Enter Exchange Name window appears.
- Specify the exchange name and flavor and click OK. The Open Guardian product table merge file window appears.
- Navigate to <drive letter>:\tt\config and select the HKEX.pmg file. pMerge will update the existing Guardian Product Table with the correct values. After pMerge completes its tasks, the pMerge status bar displays Finished.
- Close the pMerge status bar.
- Start GuardServer.
The above listed steps need to be repeated for each HKEX Gateway
After pMerge runs, verify that the Guardian Product Table contains the following values:
| Contract | Product Code | Point Value |
| Hang Seng TECH Index Futures and Options | HTI | 50 |
TT Platform Impact
No customer action required; Products will be available automatically.
Eurex: Tick Size Change for FDAX, FESB and FSTB
December 21
On December 21, Eurex will roll out a tick size change for the following products: DAX® (FDAX), Mini-DAX® (FDXM) and (EURO) STOXX® Banks Sector Index Futures (FESB, FSTB).
IMPORTANT: Please note that all orders and quotes in FDAX will be deleted after the close of business on December 18. No order/quote deletion will take place in FDXM, FESB and FSTB.
For further details please refer to Eurex circular 057/20.
X_TRADER and TT Platform Impacts
Customers should ensure that all orders on the FDAX product are deleted prior to the close on Friday, December 18. There are no software changes required for this modification.
FIA: Execution Source Code Schema Initiative (Tag 1031)
Timeline varies by exchange
Multiple exchanges, in cooperation with the FIA Execution Source Code Schema Initiative, are moving forward with plans to implement FIX tag 1031 (CustOrderHandlingInst) on their APIs.
Exchange-Specific Plans
- CME: Tag 1031 is supported and is mandatory.
- ICE: Tag 1031 is supported, but not required.
- Eurex: Tag 1031 is supported, but not required.
- CurveGlobal/IDEM: Tag 1031 is supported with the SOLA 14 Upgrade on February 3, but is not required.
X_TRADER Platform Impact
For CME, tag 1031 is now available in production. Customers should enter a valid value in the FFT6 field in Customer Defaults and/or FIX Account Defaults. For FIX Order Routing applications, FFT6 maps to tag 16903. If no value is set, a default value of “Y” will be sent. CME Gateway 7.18.49 was released on October 18.
For ICE, tag 1031 is now available with ICE Gateway 7.18.29. Customers should use FFT6 to send the value to the exchange. The field is optional for ICE.
TT Platform Impact
For CME, tag 1031 is now available for use in Production. Customers should select a valid value in Setup or set Order Tag Defaults.
For ICE, tag 1031 is now available for use in Production. Customers should select a valid value in Setup or set Order Tag Defaults to send the value to the exchange. Customers can choose not to select any value as this is an optional field for ICE.
For Eurex, support of tag 1031 on the TT platform is now available. Customers should select a valid value in Setup or set Order Tag Defaults to send the value to the exchange. Customers can choose not to select any value as this is an optional field for Eurex. On the X_TRADER platform, tag 1031 is not currently supported.
For CurveGlobal and IDEM, support for tag 1031 was added on February 3 for both exchanges.
Additional Resources
FIA Indirect Clearing Documentation
PRODUCT RELEASES
ICE Gateway 7.18.37.2p64