This CME ClearPort Trade Submission API includes descriptions of supporting functions, workflows, message flows, and interfaces to allow firms and other authorized users to submit trades for matching and clearing of OTC trades.
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This API is defined in FIXML using FIX 5.0 SP2 with custom CME extensions. Please refer to the message specification for details. Additional information on FIXML post trade messages is available after logging into the FIX Protocol site. This site assumes that users have a basic understanding of XML and some familiarity with trade reporting models.
CME ClearPort Hours in Local Time Zone
For ClearPort trading hours please see:
Trading Hours: Futures and Options
Trade Submission Models
CME ClearPort supports multiple trade submission models for participants to submit outright and spread trades into CME ClearPort so they can be cleared by CME Clearing:
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Once successfully submitted, you can view trade status using the CME ClearPort GUI or query the status using the API. The API automatically communicates any change in trade status if WebSphere MQ is used as the method of transport to submit trades. The API supports a status request query for submitters that use Secure HTTP as their method of transport.
Submitting Allocations
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Submitting Allocation Instructions
CME ClearPort API allows authorized participants to submit one or more allocation instructions into CME ClearPort API to allocate a previously cleared bunched order.
- Voids are not supported for allocation instructions.
- Cancels are supported for IRS products only.
- CME Clearing will continue to leverage the trade workflow for clearing firm interactions. Please refer to the to clearing firm trade management API document.
- CME will continue to support the current bunched order workflow, where the allocations contain the full trade details by leveraging the trade submission workflow.
Risk Limit Check Models
CME Hosted Automatic Credit Check Model
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In this risk check model, clearing members are required to set risk limits in |
CME Hosted / Explicit Claim Model
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In this risk check model, clearing members can choose to 1) set risk limits in CME Account Management Service and have CME perform risk checks on their behalf or 2) perform their own credit checks and explicitly accept and reject trades in FEC. The risk check method can be configured at the account level during account registration in CME Account Management Service. The ability to choose the risk check method at an account level in CME Account Management Service is available for Interest Rate Swaps, and OTC FX asset classes. |
Broker Fees for Brokered Trades
This functionality enables Brokers to Brokers to enter broker fees in CME ClearPort API. These These brokered trades, including including commissions data, flow through the platform for retrieval in CME STP, enabling Clearing Firms to see the broker fees on their trade capture reports. Detailed See detailed information on on broker fee retrieval in CME STP is available here.
Certification is mandatory for CME ClearPort API customers who wish to add Broker fees onto their trades.
The following are not supported:
- Updates to single-side trades. Only Matched trades can have fees updated, and fees cannot be updated on trades that have not cleared.
- When two single-sided trades are submitted and subsequently matched, only fees associated with the matched trade may be updated. The matched trade will be available via the CME ClearPort Trade Capture Report (Status report).
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Where accounts are allocated on only one side of the trade, the broker can only submit broker fees at the side level (RptSide). The same Basis, Rt, Ccy; and an enriched UOM and UOMCcy will be reported on CME STP at the Side/Leg level for each allocation. The resulting trades in CME STP will contain the same broker commission for each Allocation.
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If a CommData Block from the original message is missing on the Trade update message, the commission will be removed from the trade. This applies to Outrights and Spreads. For example, if a CommData Block on a particular leg is not provided then the system will treat this as a cancellation of the fees on that leg. |
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Spread Trades: When submitting broker commission on a spread trade, a CommData/@LegRefID must be provided, and for every CommData/@LegRefID, a corresponding TrdLeg/@LegNo must also be included.If either condition is not met, the commission will be ignored; however, the trade will be processed. |
Modes of Connectivity
The CME ClearPort Trade Submission API supports the following connectivity modes:
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Customers have the option of connecting over a secure network via IBM Websphere MQ to submit messages through a remote queue and having message responses pushed to their local queue. WebSphere MQ clients do not require user authentication since MQ is a secure method of transport.
Clients implementing MQ can also refer to Connectivity Options.
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Customers have the option of connecting using HTTPS via the Internet, Lease Line, and/or VPN. HTTP v.2.0 access supports both session-less and session-based user authentication.
Session-less - Clients must embed their exchange-assigned CME ClearPort API client username and password in the standard HTTP header of each message for authentication. Represent the username and password pair with a separating colon (Username:Password), then convert to the string to base64.
Info icon false title Example Authorization: Basic QWxhZGRpbjpvcGVuIHNlc2FtZQ==
- Session-based- Clients must utilize the FIXML Application-level User Request Messages.
The API validates customer connections through session-based HTTP using a valid username and password. Responses are sent back to acknowledge a successful login or to convey a logon error. The User Request and User Response messages are used for the user connection messaging. Connections persist using cookies. The (JSESSIONID) cookie must be maintained in communications to and from the API to ensure session connectivity.
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Customers must connect over a secure network via IBM Websphere MQ to submit and receive Allocation Instruction messages. WebSphere MQ clients do not require user authentication since MQ is a secure method of transport. |
CME Group Login-Managed IDs
Customers must create a CME Group Login account and API ID(s) for self-management of profile and security information. After creating an ID, contact Enterprise Application & System Entitlements (EASE) to entitle the IDs for New Release, Certification, and Production environments. CME ClearPort API passwords managed through CME Group Login will not expire. Legacy API IDs cannot be used with these new URLs:
Environment | HTTPS URL Type | URL |
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New Release | Session-less | https://ClearPortNR.cmegroup.com/cpc/unoapi/UnoApiHandler.api |
New Release | Session-based | https://ClearPortNR.cmegroup.com/cpc/UnoApiHandler.api |
Certification | Session-less | https://ClearPortCERT.cmegroup.com/cpc/unoapi/UnoApiHandler.api |
Certification | Session based | |
Production | Session-less | https://ClearPort.cmegroup.com/cpc/unoapi/UnoApiHandler.api |
Production | Session-based | https://ClearPort.cmegroup.com/cpc/UnoApiHandler.api |
Supported Clients
The CME ClearPort API supports the following clients:
Client Type | Description |
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Brokerage Firms | This client includes the proprietary trading system of a single brokerage firm representing both the buyer and the seller in an off-exchange transaction. In this case, the client submits one dual-sided trade message for each transaction. That is, the trade message must contain specific account (Account ID and Clearing Member) and trader information for each side. The client could potentially represent only one principal (the buyer or the seller) if the off-exchange transaction involves a product that supports single-sided trade entry. In this case, the client would submit one single-sided trade message. That is, the trade message contains only account information for the side they represent. The opposite trader and/or firm must still be specified, so CME ClearPort® can notify them that before the trade can clear, the alleged trade must be claimed through the CME ClearPort® GUI or they must submit their matching side. |
Asset Management Firms | This client includes the proprietary trading system of a single firm representing either the buy side or the sell side in an off-exchange transaction. In this case, the client submits one single-sided or dual-sided trade message. The trade message contains only account information for the side(s) they represent. The opposite trader and/or firm must be specified on a single-sided trade so CME ClearPort® can notify them that before the trade can clear, the alleged trade must be claimed through the CME ClearPort® GUI or they must submit their matching side. |
Active Trading Firms | This client includes the proprietary trading system of a single firm who is the buyer or the seller in an off-exchange transaction. In this case, the client submits one single-sided or dual-sided trade message. The trade message contains only account information for their side(s). The opposite trader and/or firm must be specified on a single-sided trade so CME ClearPort® can notify them that before the trade can clear, the alleged trade must be claimed through the CME ClearPort® GUI or they must submit their matching side. |
Platforms | Platforms include a proprietary trading system with the ability to submit trades for any number of subscribing brokerage firms, asset management firms, and active trading firms. The platform may:
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Other Supported Functions
In addition to Single and Dual-side Trade submission, CME ClearPort API supports these major functions:
Function | Description |
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Submit Allocations | Allows submitters to specify allocations as part of new trade submission. Each allocation requires an allocation quantity with each specified account. A trade that is allocated must be fully allocated. All accounts must be valid and pass credit check or the entire trade will fail. |
Cancel an Unmatched Trade | Allows the submitter of a single-sided trade to cancel it if unmatched. |
Reject an Alleged Trade | Allows the counterparty to reject an alleged trade. To determine what’s been alleged, the alleged counterparty can request a list of all alleged trades via a specific type of Trade Status Request. |
Trade Status Request | Allows the submitter to request the status of a trade by specifying a trade identifier. It also supports the submitter specifying search criteria in the request which could result in a list of trades. For example a submitter can request a list of cleared trades, unmatched trades, or trades that have been alleged to the submitter by other trading parties. |
Void a Cleared Trade | Allows the submitter to void a cleared trade top day. CME ClearPort informs the submitter of the void and notifies the clearing firms of the bust. Trades submitted using a single-sided trade submission model cannot be voided thru the API. The submitter must contact the Global Command Center (GCC) to void these trades. |
Supported Functions Bunched Order Allocation Instructions
Function | Asset Class | From | Description |
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Allocating a cleared bunched trade | IRS | Platform | Instruction to allocate a cleared bunched trade to one or more accounts / funds. |
Pending clear notification | IRS | CME ClearPort | Notifying the submitter (platform / clearing firm) of the pending status of allocation(s). |
Cleared Allocation notification | IRS | CME ClearPort | Notifies the platform / clearing Firm of a cleared allocation in cleared status. |
Cancelling allocation(s) | IRS | Platform | Instruction to cancel a previously submitted allocation which is still pending clearing. |
Cancellation Notification | IRS | CME ClearPort | Notifying the submitter (platform / clearing Firm) of the cancellation of allocation(s). |