Event contracts provide access to some of our most recognized global products, including metals, energy, equities, and foreign currencies. Additionally, non-tradable underlying futures are listed to support the options. Event contracts are listed on MDP 3.0 and CME Smart Stream on GCP.

This topic provides an overview of the concepts with which clients must be familiar to process event contracts.

See also: Event Contracts Master File

Contents

Mass Quote Protections and Price Banding Functionality

Mass Quote Protections for event contracts do not include delta protections (Delta at Group Code, Delta at Aggregate Product Line, Delta at Product Line). The Mass Quote Protection system treats event contracts as having a delta of zero, so any delta protection selected will never be triggered and should not be relied upon to manage risk. Other Mass Quote Protections, including Quote Fills (X), Executions (Y), Traded Quantity (Z), and Sides are available for event contracts. Price Banding is unsupported.

CME Reference Data API

To support event options contracts the following are available on the CME Reference Data API service:

• The subtype=EVENT value is only eligible for Event Contracts.

• The fixPayout attribute is populated "null" for non-Event Contracts.

  • fixPayout = The fixed payout amount for any in-the-money strike.

• Relationship Link - Links the non-tradable futures product to the tradable futures product. The referenceProduct is only present for Event Contracts.

  • referenceProduct 

Example: Structure for Direct Link to Event Options Contracts Tradable Product

The example below shows the direct link from the event options contracts non-tradable futures contract to the tradable futures contract.

"_links" : {

    "self" : {

      "href" : "https://api.refdata.cmegroup.com/v3/products/[guid] "

    },

    "overlyingProducts" : {

      "href" : "https://api.refdata.cmegroup.com/v3/products/[guid] /overlyings" 

    },

    "referenceProduct" : {

     "href" : "https://api.refdata.cmegroup.com/v3/products/[guid] " 

    },

"instruments" : {

      "href" : https://api.refdata.cmegroup.com/v3/products/[guid]/instruments  

    }

Event Contract Outright Futures vs Synthetic Future Differences 

Below are differences between Event Contract Outright Futures vs Synthetic Futures.