Crossing functionality allows CME Group customers to submit cross orders that are the result of pre-execution communications pursuant to Rule 539.
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Customers can call the CME Global Command Center (GCC) to obtain the Broker Match Guarantee (BMG) percentage for a given product. |
Please see the Market Regulation Advisory Notice for a complete description of each exchange-supported crossing protocol.
The See the list of eligible products and cross types is available here.
CME Globex currently supports four types of Cross orders: Committed Cross (C-Cross), Globex Globex Cross (G-Cross), RFQ + RFC Cross (R-Cross), which have the following attributes:
C-Cross (Committed Cross) | G-Cross (Globex Cross) | R-Cross (RFQ + RFC Cross) | ||
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Customer sends RFQ | No | No | Yes | |
Customer sends RFC | Yes | No | Yes
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The client system then submits the Request for Cross (tag 35-MsgType=s) message. Upon receipt of the Request for Cross (tag 35-MsgType=s) message, CME Globex will automatically publish a market data RFQ (tag 35-MsgType=R) message with tag 54-Side equal to '8' (Cross). | |
Cross Market State | Yes |
| No |
| Yes |
See also:
| Child pages (Children Display) |
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