To trade EBS products on the CME Globex platform customers must implement the order entry functionality described in this topic, and, if applicable, the market data functionality described in CME MDP 3.0 Market Data. Customers with this functionality in place can refer to the EBS-specific functionality described in this topic.  

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EBS Market on CME Globex is available through iLink Binary Order Entry on dedicated iLink Architecture. Customers can choose to access EBS Market through the MSGWs directly, or the CGWs, which route customer orders to the appropriate MSGWs.

For an order submitted over an iLink Convenience Gateway, that order will be routed to the dedicated Market Segment Gateway to the CME Globex matching engine supporting the given instrument.

Orders for EBS Market products can also be submitted over the Market Segment Gateway directly to the matching engine supporting the given instrument.

The CGW provides a single point of order entry for all EBS Market instruments regardless of matching region.

All orders are routed to the MSGW in the matching region.

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• Provides the fastest route for order entry for instruments in the local region over a dedicated MSGW.

• Orders are not routed to the matching region. An order submitted for an instrument not matched locally will be rejected.

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EBS Market trades on one of the two distinct regions. Each product is available for trading in a single location.  

The MSGWs and CGWs are physically located in the Primary Region for production and the Backup Region for Disaster Recovery.

• The New York and London regions each support both MSGW and CGW, while the Tokyo location only supports CGW.

• The New York and London CGWs route orders to either New York or London.

• The Tokyo CGW routes orders to either New York or London.

Both EBS CGW and MSGW sessions use the iLink Binary Order Entry messaging protocol.

EBS Market includes Central Limit Order Book (CLOB) and eFix Matching.