CME

CME

Configuring user access to CME

Order routing and market data access are configured on the Users | Exchange Properties | Order Routing and Market Data tabs. Additional settings for reporting market data access are also provided. When you click the Exchange Properties tab, Setup defaults to the Order Routing tab.

In Setup, each CME Netting Program Participant for market data access is identified as an 'organization'. You can set a user's Netting Program Participant per market data group by selecting an existing participant or creating a new one. They can also use the Manage Organizations tab to manage a list of CME Netting Program participants.

A user that participates in the CME’s netting program is billed directly by CME. Trading Technologies still reports this user's market data access to the exchange, but reports them as non-billable. By default, no organization is selected.

For a list of exchanges and supported products when allowing or denying Market Data access for a user, refer to the CME Group website.

To configure user access to CME:

  1. Click the Users | Exchanges tab for a user selected in the data grid.
  2. Click the exchange list drop down arrow, and scroll to and select an exchange.
  3. Click the Order Routing and Market Data tabs to configure the user for the selected exchange:

    • Use the Order Routing tab to configure exchange credentials for user identification.
    • Use the Market Data tab to allow or deny the user access to all market data per product group.

  4. Configure the following CME exchange settings for Order Routing per user:

    • Operator ID — Identifies the user in Tag 50 on all manual order actions sent to the exchange. Users must register the Operator ID with the exchange.
    • ATS Operator ID — Identifies the user in Tag 50 on all automated order actions sent to the exchange. Users must register the ATS Operator ID with the exchange.
    • SMP ID — Sets a Self-Match Prevention Identifier (SMP ID) for the account. An SMP is optional and allows an executing firm to prevent the matching of orders for accounts with common ownership if both the buy and sell orders contain the same SMP ID and Executing Firm ID. Sent to the exchange as Tag 7928.
    • SMP Instruction — Sets which order is canceled (resting or aggressing) if self-match prevention occurs. This setting is optional. If no SMP Instruction is specified, the resting order is canceled. If set, the value is sent to the exchange in Tag 8000. To assign a self-match prevention instruction to an order action, select one of the following:
      • Cancel resting — Cancels the resting order and sends the aggressing matching order to the exchange.
      • Cancel aggressing — Leaves the resting order in the market and cancels the aggressing matching order.
    • Text A — An optional, user-defined text value that remains on submitted orders in the TT system, but is not sent to the exchange. Alpha-numeric and special characters are allowed.
    • Text B — An optional, user-defined text value that remains on submitted orders in the TT system, but is not sent to the exchange. Alpha-numeric and special characters are allowed.
    • Text TT — An optional, user-defined text value that remains on submitted orders in the TT system, but is not sent to the exchange. Alpha-numeric and special characters are allowed.
    • Max Order Rate — Sets the maximum number of orders per second that a user can enter per connection. This limit cannot exceed the exchange-defined order rate maximum.
  5. Configure the following CME market data access settings per product group:

    • Allow — Allows the user to access CME market data for the product group.

      Note: You can click Allow All — in the section title bar to allow market data access to all CME product groups.

    • Deny — Denies the user access to CME market data for the product group.

      Note: You can click Deny All — in the section title bar to deny market data access to all CME product groups.

    • Sessions — Sets how many simultaneous market data sessions per product group the user can have active using different IP Addresses/Applications. Delay Only: Indicates that the product group is denied in all environments except the delayed environment, which does not have access to real-time market data.

      Note: Professional users who are not netting program participants are charged for market data per session. Non-professional users are charged for market data once per product group, but are limited to two simultaneous market data sessions per product group.

    • Grandfathered — Indicates that the user has a market data waiver for a 50% discount on market data billing for 2015 for the product group. If the company administrator enables this settings, a red exclamation point appears next to the checkbox to indicate that the waiver is pending CME user verification of their grandfathered status.

      To view and approve the Subscriber Trading Waiver Migration Request agreement, go to the user's Agreements tab. The CME migration waiver is completed by the user and reported to CME by TT administrators. If CME approves, then TT administrators will mark the agreement as 'approved' as indicated in the Agreements tab for the user and by a green checkmark next to the Grandfathered checkbox. The company administrator can enable this setting in User Setup. By default, this option is turned off (unchecked).

    • Netting Program Participant — Indicates that the user participates in the CME’s netting program for the product group. Click the selector and select the name of the user’s CME Netting Program participant organization. This is typically the user's company name, but could be a specific group within a company that has an agreement with CME.

      Note: If a user's market data billing rate for the product group is grandfathered and they also participate in the CME’s netting program, select either the Grandfathered or Netting Program Participant setting (often the grandfathered rate is the lower cost).

    • Manage Organizations — Click Manage Organizations to open the Organizations tab and add Netting Program Participant organizations to your company. You can also edit organizations or view which product groups are approved for the exchange netting program.
  6. Configure the following options on the Exchange Settings tab:

    • Non-Professional — Sets whether the CME market data user is considered a "non-professional" trader for CME billing purposes. When this setting is enabled, the CME non-professional self-certification agreement is sent to the user's Agreements tab for the user to sign. The status "Pending Verification" is displayed until the agreement is signed. This checkbox is unchecked by default.

      Note: To maintain non-professional status, the user must remain in compliance with the CME non-professional rules as defined in the non-professional self-certification agreement. Users who are not in compliance will be billed by CME at the professional rate.

    • Support Waiver — Sets whether this user has a Support Waiver granted by a specific agreement with CME. When this setting is enabled, the CME Support Waiver Request form is sent to CME for approval. The status "Pending Verification" is displayed until CME informs TT administrators that the form is approved. This checkbox is unchecked by default.

  7. Click Save Changes.