Starting Sunday, June 15, CME Group will launch a new risk management feature that will allow BrokerTec clients to cancel and modify resting orders using FIX tag 11-ClOrdID , without providing tag 37-OrderID. This feature will be enabled for all BrokerTec markets on CME Globex.
| Info |
|---|
BrokerTec Global Front End (GFE) client does not support Order Cancel and Cancel-Replace Requests by ClOrdID. |
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Revision History
Date | Description |
|---|---|
| May 10, 2024 | Market Segment ID 42 - TBAs removed |
| April 3, 2024 | Initial publication of this client impact topic. |
Key Customer Events and Dates
Date | Milestone |
|---|---|
| April 18, 2024 |
|
June 16, 2024 June 30, 2024 |
Testing and Certification
Certification in AutoCert+ is required for client systems which that support the new Order Cancel and Cancel/Replace Requests by ClOrdID functionality.
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| iLink 3 Order Cancel and Cancel/Replace Requests by ClOrdID | |||
|---|---|---|---|
| Market Segment ID | Description | Production Date | |
| 44 | BrokerTec EGB | June 16, 2024 | |
| 46 | BrokerTec EU Repo | ||
| 40 | BrokerTec US Treasury Actives | June 30, 2024 | |
| 42 | BrokerTec US Repo and TBAs | ||
Order Cancel and Cancel/Replace Requests by ClOrdID
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For an iLink 3 New Order tag 11-ClOrdID:
- CME Globex will reject an order having the same ClOrdID and SenderComp as a currently working order on the given market segment. A duplicate ClOrdID will generate an iLink 3 Business Reject (tag 35-MsgType=j) message with tag 380-BusinessRejectReason = 133 and tag 58-Text = Duplicate ClOrdID: X not allowed.
A ClOrdID value can be re-used on the same Market Segment only when the prior order is no longer resting, for instance:
- the prior
- Prior order has been completely filled , or
- . the prior
- Prior order has been cancelled , or
- . the prior
- Prior order has been eliminated.
Processing for ClOrdID and OrderID Values
Effective with iLink 3 schema v8, FIX tag 37-OrderID is an optional tag in iLink 3 Order Cancel Request and iLink 3 Order Cancel/Replace Request messages for BrokerTec markets.
- If an Order Cancel Request or Order Cancel Replace Request contains both CIOrdID and OrderID, the OrderID will be used to look up the original order.
- If a ClOrdID in an Order Cancel Request or Order Cancel/Replace Request is changed from what was in the original order ,
- :
- Client should send an Order Cancel Request or Order Cancel/Replace Request with the latest CIOrdID accepted by CME Globex.
the client - Client sending an Order Cancel Request or Order Cancel/Replace Request with the previous CIOrdID must provide an OrderID as well; otherwise, the Order Cancel/Replace Request will be rejected as order not found.
- An Execution Report - Cancel and Execution Report - Modify message will return both ClOrdID and OrderID values.
- An Order Cancel Reject and Order Cancel Replace Reject message will return both ClOrdID and OrderID values.
Contact Information
For technical development support, contact Certification Support for Electronic Trading (CSET).
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