This topic provides information on EBS Spectrum Market Data Platform (MDP) functionality which provides Time Weighted Average Price (TWAP) and Volume Weighted Average Price (VWAP) market data for the following markets:

FX Spot
Precious Metal Spot

Contents

1 EBS Market Data Services Overview
2 Getting Started with CME Market Data Processing
3 MDP Dissemination
- 3.1 Market Data Group
  - 3.1.1 CME MDP Conflated Transmission Control Protocol (TCP)
  - 3.1.2 CME MDP Component Overview
    - 3.1.2.1 TCP MDP Gateway
- 3.2 CME MDP Conflated TCP - System Startup
  - 3.2.1 Early and Late Joiner Startup
4 Market Data Support Services
- 4.1 Support Services
  - 4.1.1 FTP/SFTP Site Information
5 Simple Binary Encoding Schema Overview
- 5.1 Core CME Globex SBE Schema Overview
- 5.2 TCP Session Management SBE Schema Overview
6 EBS Spectrum Messaging
- 6.1 EBS Spectrum TWAP/VWAP Message (35=X) Tag Usage
7 Conflated Market Data Processing
- 7.1 Conflation Market Data Examples
  - 7.1.1 Example 1 - Multiple Updates for Single Instrument
  - 7.1.2 Example 2 - Multiple Updates for Multiple Instruments
8 Conflated TCP Market Data Group
9 Correlating EBS Spectrum Data with CME Globex MDP
- 9.1 Example: Correlating EBS Spectrum Data with CME Globex MDP
10 EBS Spectrum Message Specification
- 10.1 Binary Packet Headers
  - 10.1.1 SBE Technical Header for TCP Conflated Connections
- 10.2 CME Group MDP EBS Spectrum Message Specification
  - 10.2.1 Market Data Header
    - 10.2.1.1 Message Header
  - 10.2.2 Market Data Incremental Refresh (tag 35-MsgType=X)
    - 10.2.2.1 Market Data Incremental Refresh - TWAP & VWAP
  - 10.2.3 Market Data Snapshot (tag 35-MsgType=W)
    - 10.2.3.1 Market Data Snapshot - Conflated TCP Recovery
  - 10.2.4 Market Data Heartbeat (tag 35-MsgType=0)
- 10.3 CME Group MDP TCP Session Management Specification
  - 10.3.1 Market Data Header
    - 10.3.1.1 SBE Technical Header - Customer to Exchange, Exchange to Customer
    - 10.3.1.2 SBE Message Header - Customer to Exchange, Exchange to Customer
  - 10.3.2 MDP Session Management Messages - Client to Exchange
    - 10.3.2.1 Negotiate Message
    - 10.3.2.2 Market Data Request Message (tag 35-MsgType=V)
    - 10.3.2.3 Subscriber Heartbeat (tag 35-MsgType=0)
  - 10.3.3 MDP Session Management Messages - Exchange to Client
    - 10.3.3.1 Negotiation Reject
    - 10.3.3.2 Negotiation Response
    - 10.3.3.3 Request Acknowledgment (tag 35-MsgType=V)
    - 10.3.3.4 Request Reject (tag 35-MsgType=Y)
  - 10.3.4 MDP Session Management Message - Client to Exchange and Exchange to Client
    - 10.3.4.1 Terminate

EBS Market Data Services Overview

The following market data services are available for EBS Spectrum markets.

Market	Market Data Group Option(s)	Channel ID	Description