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Self Match Prevention (SMP) is an optional CME Globex risk management feature available to all customers. CME Direct supports SMP IDs SMP IDs at a firm level only. By requesting an SMP ID be added to the CME Direct firm, firm admins ensure that orders entered by registered users within the firm will not match any other order on that firm’s order book. As of of October 1, 2017, CME Group is enhancing SMP features to allow firms to configure one SMP ID across multiple CME Globex Firm IDs within or across clearing firms. This change also allows CME Direct to configure one SMP ID across multiple CME Direct firms.
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Self-Match Protection
CME Direct offers Self-Match Protection features that can be applied at the firm and user level, and only affects orders entered on CME Direct.
Firms can set controls that either allow all matching within the firm, warn users of a potential self-match within the firm, or prevent all self-matching within the firm. This assumes all users are trading on CME Direct. To establish that setting, please contact GAM Client Services at gam_cs@cmegroup.com.
Users within a firm can set self-match protections directly in CME Direct should their firm opt out of setting controls.
From the User Preferences window, users can select the following protections for their orders:
- Nothing - Allows all self-matching to occur.
- Warning - Displays a warning when a user attempts to place an order that matches a working order they or their company entered in CME Direct.
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Warning is selected by default. |
- Error - Displays an error, and prevents a user from placing an order that matches a working order they or their company entered in CME Direct.
