Drop Copy Service for iLink

The Drop Copy service allows customers to receive real-time copies of CME Globex Execution Report and Acknowledgment messages as they are sent over iLink order entry system sessions on a separate, dedicated path.

Drop Copy aggregates iLink messages, enabling customers to aggregate positions and monitor orders for sessions guaranteed by one or more clearing firms upon approval of the clearing firms.

The Drop Copy service is available for iLink messages on orders submitted to the CME Globex platform via iLink or CME Direct. Customers can choose to receive messages over Drop Copy configured to the following three levels:

Trade Execution Reports including:

• iLink 2 Execution Report - Fill Notice (complete and partial fills)

• iLink 2 Execution Report - Trade Cancel

• iLink 2 Execution Report - Trade Correction

Order Entry Acknowledgments including:

• Execution Report - Order Creation, Cancel, or Modify

• iLink 2 Execution Report - Order Elimination

• iLink 2 Order Mass Action Report

All of the Above

Customers may connect to Drop Copy via an existing network connection or establish a new connection dedicated to the Drop Copy service.

Coordination with Global Account Management (GAM)

To initiate Drop Copy functionality, customers must submit the Schedule 12-Drop Copy Service form specifying the name of the Drop Copy Group, how billing for Drop Copy is to be administered, which message types are received over the Drop Copy session, and individuals authorized by the Clearing Firm to administer changes to the Source sessions configured for the Drop Copy group. Once the approved request form is submitted, the Global Account Manager initiates scheduling and configuration. The customer receives standard connection information for the Drop Copy Target session(s) including:

• SenderCompID – seven digit alphanumeric value consisting of:

  • 6-character Session ID

  • 1-character Fault Tolerance Indicator = 'N' (no fault tolerance)

• IP primary address

• IP backup address

• Port

• Password

For questions regarding iLink or CME Direct as related to Drop Copy, please contact Global Account Management (GAM).

Drop Copy Fees

Configuration of the Drop Copy service should be requested through your Global Account Manager. Once the completed Schedule 12 is submitted all configuration requests for Drop Copy must be submitted by an authorized contact for the Drop Copy Group.  The configuration request should include which iLink Source sessions should be configured to feed the Drop Copy Group as well as the message types the customer wishes to receive for the Drop Copy Group. The available messages types are categorized as:

Customers can also choose to implement Drop Copy Automation based on their Execution Firm ID or if they are a Clearing Firm (CME Class A Clearing Firm ID). See Schedule 12, Section II B for details or contact your Global Account Manager.

• Execution Reports – These messages include all fills and any trade cancel messages generated by the Source session(s). These messages can be used to determine the trading customer's filled position.

• Acknowledgments – These messages include all confirmation and elimination messages generated by the Source session(s). These messages can be used to determine the trading customer's open order position.

• All of the Above

A monthly fee for the Drop Copy service is charged as a separate line item on regular monthly CME Globex connection billing. This fee is assessed on a per Drop Copy Group basis with the fee waived for the customer's first Drop Copy Group.

Drop Copy Bandwidth Impact

Since Drop Copy Target sessions transmit Acknowledgment and Execution messages only (no market data), bandwidth impact should be minimal, but is dependent upon the number of Source sessions bundled to the Drop Copy Group. Drop Copy uses the same packet size as an outbound iLink message, i.e., thirty Source sessions will use the equivalent bandwidth of thirty iLink Source session Execution Report and reject messages.

Certification and Testing

Mandatory certification for Drop Copy is comprised of three tests to validate client system ability to receive and process Drop Copy messages, perform a FIX resend, and perform an Application resend.

For more information contact Certification Support for Electronic Trading (CSET).

Drop Copy Terminology

The following table highlights the terms and definitions used in the service.

Technical Specifications

The following topics provide the technical details for each Drop Copy feature.