Trade Market at Close - TMAC

Orders for TMAC (Trade Marker at Close) products are executed at the current day’s applicable marker price or at any valid price increment above or below the applicable marker price of the applicable contract.

To ensure appropriate and efficient messaging practices for TMAC orders into CME Globex, the timing of each TMAC groups’ pre-open state is randomized. The market state sequence for TAC groups has a market pause, communicated via the market data Security Status message (tag 35-MsgType=f), tag 326-SecurityTradingStatus=2 at 16:00:00 on Sunday and 16:45:00 Monday through Thursday. TMAC groups then go into pre-open on Sundays between 16:00:00 and 16:01:00 Central time (CT), and Mondays through Thursdays between 16:45:00 and 16:46:00 CT.

TMAC products are listed in the CME Globex Product Reference Sheet and designated TMAC in the instrument name (e.g. TMAC on E-mini S&P 500 Futures).

Example

TMAC functionality uses “0” to represent the yet-to-be-determined daily marker price and trades ± 20 ticks (0.05) for E-mini S&P 500, Nasdaq-100, and Russell 2000 futures, and ±4 ticks(1) for E-mini Dow Jones Industrial Average futures.

Buy TMAC Trade @ 0.1

Marker = 4498.52

Future fill price = (4498.52 + 0.1) = 4498.62