This topic provides an overview of the types of User Defined Spreads which can be created and the message submission process for each type of UDS. For UDS message-level validation rules, see: UDS - Validation and Messaging Rules.
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6. CME Globex sends an Execution Report - New Order Acknowledgment (tag 35-MsgType=8, tag 39-OrdStatus=0) for for the new order.
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If a client system submits a valid Security Definition Request in a non-open state, the RFQ will not be generated. Also:
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Recursive UDSA recursive spread is a UDS that contains at least 1 which is an existing user defined spread. Only one level of recursion is allowed (i.e., a UDS cannot contain a UDS that contains a UDS).
The following is an example of a recursive spread:
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In response to:
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Quote Acknowledgment (tag 35-MsgType=b), tag 368-QuoteEntryRejectReason = | Tag 58-Text |
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7112 | Quote exceeds limit. |
Expiration
A Covered instrument either expires with the earliest expiration of its component leg instruments or at the end of the trading session.
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5. If the Covered instrument is traded, CME Globex transmits the corresponding iLink 2 Execution Report - Fill Notice and market data messages.
Note | title | To format the leg price for the futures leg of a Covered instrument:
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