...
Revision History
Date | Description |
|---|---|
April 8, 2025 | Changed note on Cancel on Disconnect: “For a graceful session disconnect, Cancel on Conclusion is supported for FX Spot+ instruments.” |
March 28, 2025 | Party Details section content has been replaced. |
March 26, 2025 | Updated Daily Statistics Template in MDP 3.0 TCP Channel:
Location paragraph replaced with “Location (tag 9537) is optional for trading FX Spot+. If not populated on the FX Spot+ message, the message will be accepted and acknowledged with the values as "$CME". “ |
March 21, 2025 | Updated FX Spot+ Overview with network gateway accessibility and CME FX Spot+ MDP Channels with MDP configuration details. |
March 10, 2025 | Updated MDP 3.0 TCP Channel section: The new FX Spot+ market data channel 331 will use Simple Binary Encoding (SBE) order schema version 13. The following templates will be used on the new FX Spot+ market data channel 331. |
March 4, 2025 | Added content Maturity under Security Definition. |
March 4, 2025 | Updated in FX Spot+ Overview table under Market Data Channel column: New CME MDP UDP Channel
New CME MDP TCP Channel
|
February 27, 2025 | Updated content under New CME FX Spot+ MDP TCP Channel. |
February 27, 2025 | Market Data column in table FX Spot+ Overview updated with new content: New CME MDP UDP Channel
|
February 18, 2025 | Updated: Location (tag 9537) is optional for trading FX Spot+. |
February 5, 2025 | Message Type “Trade Summary” - updated content: MDIncrementalRefreshTradeSummaryLongQty65 The following fields will be populated with values:
|
January 29, 2025 | Production date updated to Sunday, April 13, 2025 (trade date April 14). |
January 27, 2025 | The FX Spot+ Product code USDCNH's FX Spot+ Symbol is changed to USDCNHZ5028. |
December 9, 2024 | Added under Self-Match Prevention: The following examples illustrate Futures and Options style SMP in a FIFO market. |
December 5, 2024 | Removed "iLink 3 Execution Report - Trade Spread" from Binary Trade Reporting. |
November 13, 2024 | Added info box under Testing and Certification: "The new AutoCert+ supplemental test suite will be available for customer certification on Monday, December 9, 2024." |
October 30, 2024 | Updated note for Product "The USD/South African Rand and USD/Offshore Chinese Renminbi FX Spot leg are only tradable as part of the CME FX Link spread." |
October 25, 2024 | Added table row for FX Spot+ Product Code USDCNH. Added table row for FX Spot+ Currency Pair USD/CNH. Added table row for Futures Product Code CNH. |
October 9, 2024 | Modified descriptions for Tags 1795, 1802, 1797, 1800, 5542, and 5971. Added new table under CME Reference Data API Changes. Under Product Attributes, numbers changed for Min Order Cancel Threshold column. Changed text under Minimum Order Cancel Threshold: "With this launch, a new order cancel threshold notional value will be established and equal to the minimum order increment per each FX Spot+ instrument." Changed text in note box "The minimum order cancel threshold could be different from the Minimum Order Increment." |
October 7, 2024 | Changed value Max Order Size for FX Spot+ Product Code NZDUSD from 5,000,000 to 3,000,000. |
July 17, 2024 | Initial publication of topic. |
...
Testing and Certification
For EBS client systems to support trading FX Spot+ products:
iLink 3 certification via AutoCert+ is required. Client systems will need to complete the supplemental test suite.
MDP 3.0 certification is not required. However, CME Group strongly recommends client systems to test the FX Spot+ products in New Release before the production launch.
CSET will configure credit setup to enable testing.
...
Tradable FX Spot+ Products | |
|---|---|
Product Name | MDP 3.0: tag 55-Symbol |
Euro / US Dollar Spot FX | EURUSDZ5031 |
US Dollar / Canadian Dollar Spot FX | USDCADZ5031 |
British Pound / US Dollar Spot FX | GBPUSDZ5031 |
Australian Dollar / US Dollar Spot FX | AUDUSDZ5031 |
US Dollar / Japanese Yen Spot FX | USDJPYZ5031 |
US Dollar/Swiss Franc Spot FX | USDCHFZ5031 |
New Zealand Dollar/US Dollar Spot FX | NZDUSDZ5031 |
US Dollar / Mexican Peso Spot FX | USDMXNZ5031 |
| Info |
|---|
The USD/South African Rand and USD/Offshore Chinese Renminbi FX Spot leg are only tradable as part of the CME FX Link spread. |
Product Attributes
FX Spot+ Product Code | FX Spot+ Symbol | Contract Size | Inverted Futures Contract | Min Order Size | Min Order Increment | Max Order Size | Min Order Cancel Threshold | Min Tick FX Spot+ Traded as Outright / Implied | Price Example Outright / Implied |
|---|---|---|---|---|---|---|---|---|---|
EURUSD | EURUSDZ5031 | 1 EUR | No | 250,000 | 125,000 | 5,000,000 | 125,000 | 0.00001 | 1.09481 |
GBPUSD | GBPUSDZ5031 | 1 GBP | No | 250,000 | 62,500 | 5,000,000 | 62,500 | 0.00001 | 1.37251 |
AUDUSD | AUDUSDZ5031 | 1 AUD | No | 200,000 | 100,000 | 5,000,000 | 100,000 | 0.00001 | 0.72161 |
NZDUSD | NZDUSDZ5031 | 1 NZD | No | 200,000 | 100,000 | 3,000,000 | 100,000 | 0.00001 | 0.68963 |
USDCAD | USDCADZ5031 | 1 USD | Yes | 200,000 | 100,000 | 5,000,000 | 100,000 | 0.00001 | 1.26551 |
USDJPY | USDJPYZ5031 | 1 USD | Yes | 200,000 | 100,000 | 5,000,000 | 100,000 | 0.001 | 109.688 |
USDCHF | USDCHFZ5031 | 1 USD | Yes | 250,000 | 250,000 | 3,000,000 | 250,000 | 0.00001 | 0.91237 |
USDMXN | USDMXNZ5031 | 1 USD | Yes | 100,000 | 50,000 | 3,000,000 | 50,000 | 0.0005 | 13.3919 |
CME FX Spot Leg (non-tradable) | |||||||||
USDZAR | USDZARF5102 | 1 USD | Yes | 50,000 | 50,000 | 3,000,000 | 50,000 | 0.0001 | 18.4445 |
USDCNH | USDCNHZ5028 | 1 USD | No | 100,000 | 100,000 | 3,000,000 | 100,000 | 0.0001 | 7.1471 |
...
| Info |
|---|
The minimum order cancel threshold could be different from the Minimum Order Increment. CME Group reserves the right to change the minimum order cancel threshold at any time. |
...
FX Spot+ Currency Pair | Inverted/Non-Inverted | Tag 15-Currency | Tag 120-Settle Currency |
|---|---|---|---|
EUR/USD | Non-Inverted | EUR | USD |
GBP/USD | Non-Inverted | GBP | USD |
AUD/USD | Non-Inverted | AUD | USD |
NZD/USD | Non-Inverted | NZD | USD |
USD/JPY | Inverted | USD | JPY |
USD/CAD | Inverted | USD | CAD |
USD/CHF | Inverted | USD | CHF |
USD/MXN | Inverted | USD | MXN |
CME FX Spot Leg (non-tradable) | |||
USD/ZAR | Inverted | USD | ZAR |
USD/CNH | Non-Inverted | USD | CNH |
Security Exchange
Tag 207-SecurityExchange value "GLBX" is sent for the FX Spot+ instruments in the MDP 3.0 Security Definition (35=d) message.
...
For example, with IFM enabled, if an order for 10 is filled for 2 prior to being replaced with an order for 5, the new order on the book will only be for 3. With IFM disabled, the new order will go on the book as 5.
| Info |
|---|
CME recommends that EBS client systems submit Order Cancel Replace (tag 35-MsgType=G) messages using tag 9768=Y to avoid overflow of cumulative quantity, since the quantity is in notional value. |
Matching Priority
FX Spot+
...
| Info |
|---|
For a graceful session disconnect, Cancel on Conclusion is NOT supported for FX Spot+ instruments. |
...
If CME Global Command Center (GCC) amends or cancels a FX Spot+ trade, GCC will implement the trade correction or cancellation via parties to the transaction, their prime brokers, and the Central FX Prime Broker. EBS client applications willnot receive MDP 3.0 Trade Cancel and iLink Trade Cancellation/Trade Correction messages.
New Reject Codes/Texts
FX Spot+ uses the same reject text and error code as CME Globex futures and options.
...