Trading on Behalf of a Client

CME Globex allows firms to submit orders on behalf of clients or other clearing member firms for whom the submitting firm is authorized to transact.

SenderCompID and Order Submission

SenderCompID is a CME Group assigned identifier comprising a Session ID, Firm ID, and Fault Tolerance Indicator (FTI). SenderCompID is submitted in tag 49-SenderCompID in the Standard Header - Client System to CME Globex, and returned in tag 56-TargetCompID in the iLink 2 Standard Header - CME Globex to Client System.

SenderCompID

The SenderCompID value is constructed as follows:

3-byte Session ID +
3-byte Firm ID +
1-byte Fault Tolerance Indicator (FTI)

Example: ABC123N
Session ID = ABC
Firm ID = 999
FTI = N (no fault tolerance)

Firm Trading for Itself

A firm submitting an order for itself must populate tag 49-SenderCompID with the value assigned by CME Group to the firm as an identifier of its own business.

Firm Trading on Behalf of a Clearing Member Firm

For an authorized firm to submit an order for a clearing member firm (Affiliate, Sub-Accounting, or Cross-Margin firm number), the submitting firm must populate tag 49-SenderCompID with the value assigned by CME Group to the clearing member firm on whose behalf the order is submitted.

Firm Trading for a Non-Clearing Member Firm

For the firm to submit an order for a client that is not a clearing member, the submitting firm can populate tag 9702-CtiCode and tag 204-CustomerOrFirm as described in the iLink 2 New Order message layout.

Example

The following example demonstrates how firm 999 can submit orders for:

itself (firm 999)
another clearing member firm (e.g. firm 998)
for a non-clearing member firm client

Order Entry Scenario	Supporting iLink Tag Values

Order Entry Scenario	Supporting iLink Tag Values
Firm Submitting Order	Tag 49-SenderCompID = ABC999N
Firm Submitting Order for another Clearing Firm	Tag 49-SenderCompID = ABC998N
Firm Submitting Order for Client	Tag 49-SenderCompID = ABC999N Tag 204-CustomerOrFirm = 0 (customer) Tag 9702-CtiCode = 4 (Broker/trader trading for other customer account)