iLink Functional Specification

iLink Functional Specification

The iLink order entry protocol on CME Globex provides:

  • Simple Binary Encoding (SBE) - optimized for low latency of encoding and decoding 

  • FIX Performance (FIXP) protocol - supports simple session layer management; no session-level information (e.g. headers) required

  • Optimized order entry on the CME Globex platform for futures, options, BrokerTec, and EBS markets

  • Lean messages move administrative information out of order entry business message

  • Standard message size, fixed positions, and fixed length fields 

  • Consistent encoding method for market data and order entry

  • XML schema and templates for order entry as with MDP 3 

All iLink sessions are Cancel on Disconnect (CoD) mandatory, except iLink CGW sessions for futures and options markets.

All newly created iLink CGW sessions will be created with Cancel on Disconnect (COD) enabled. To disable COD, Clearing Firm Administrators must enter the change request via Firm Admin Dashboard (FADB).

Use this search bar to search topics within iLink Binary Order Entry.

Contents

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iLink Gateway Considerations

iLink has the following considerations for Convenience Gateway (CGW), Market Segment Gateway (MSGW), and Drop Copy Gateway (DCGW) customers:

 

CGW and MSGW

DCGW

 

CGW and MSGW

DCGW

iLink

  • CGW and MSGW sessions support iLink Binary Order Entry.

  • Drop Copy supports both CGW and MSGW source sessions.

  • The encoded payload messages sent on Drop Copy with iLink source sessions will be in ASCII format, but reflect the behavior described in the Drop Copy Client functional specification.

Developing to iLink

The following table summarizes the considerations for client systems developing to iLink:

Layer

Feature

iLink

Layer

Feature

iLink

Presentation

Message encoding

Simple Binary Encoding

Session

Authentication, Recovery

FIX Performance Session Layer (FIXP)

Application

Business logic

Improved  FIX semantics

Transport

End-to-end delivery

TCP

Network

Virtual Circuits, Routing

IP

System Architecture

This diagram provides an overview of iLink order entry architecture.

  • CGW sessions

 

  • MSGW sessions

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