Self Match Prevention on CME Direct

CME Direct supports Self-Match Prevention Identifiers (SMP IDs) and offers custom built Self-Match Protection features.

Self-Match Prevention

Self Match Prevention (SMP) is an optional CME Globex risk management feature available to all customers. CME Direct supports SMP IDs at a firm level only. By requesting an SMP ID be added to the CME Direct firm, firm admins ensure that orders entered by registered users within the firm will not match any other order on that firm’s order book. SMP allows firms to configure one SMP ID across multiple CME Globex Firm IDs within or across clearing firms, and allows CME Direct to configure one SMP ID across multiple CME Direct firms.

Requests to add an SMP ID to a CME Direct firm should come from a verification officer, and can be sent to GAM Client Services at gam_cs@cmegroup.com. Requests should include instructions on whether to cancel resting or aggressing orders in a self-match scenario. By default, CME Direct cancels resting orders.

To create an SMP ID, contact your clearing firm(s), or login to Firm Admin Dashboard (FADB). FADB allows users to configure SMP IDs for their firm. For details, refer to the FADB Help.

Self-Match Protection

CME Direct offers Self-Match Protection features that can be applied at the firm and user level, and only affects orders entered on CME Direct.

Firms can set controls that either allow all matching within the firm, warn users of a potential self-match within the firm, or prevent all self-matching within the firm. This assumes all users are trading on CME Direct. To establish that setting, please contact GAM Client Services at gam_cs@cmegroup.com.

Users within a firm can set self-match protections directly in CME Direct should their firm opt out of setting controls.

From the User Preferences window, users can select the following protections for their orders:

• Nothing - Allows all self-matching to occur.

• Warning - Displays a warning when a user attempts to place an order that matches a working order they or their company entered in CME Direct.

• Error - Displays an error, and prevents a user from placing an order that matches a working order they or their company entered in CME Direct.

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