CME Group offers a test product in the production environment to facilitate client connectivity and messaging testing on CME Globex. The test product supports order entry, modification, status and cancel only. The test product does not permit trading or Self-Match Prevention testing.
Customers can test anytime CME Globex is available. A successful test is indicated by the client receipt of either:
- An Execution Report acknowledgment during the pre-open
- An Execution Report - Reject during the close
CME Globex also lists synthetic products for internal testing purposes only. These products are not eligible for customer order entry. Synthetic products can be identified by the use of a special character in the Group Code (tag 1151-SecurityGroup).
Contents
CME Globex Test Product
The test product mimics the futures contract currently available to trade on CME Globex. Only outright futures are listed. Market data is disseminated on the MDP 3.0 market data channel of the tradable contract.
The test product is available for order routing only — trades and Fill or Kill (FOK) and Fill and Kill (FAK) orders are not supported.
Test Product Functionality
CME Globex supports the following functionality for test products.
Identifiers
Test products have the following iLink order entry and market data messaging identifiers:
| CME Globex Test Product | MDP 3.0: tag 6937-Asset | iLink 2: tag 55-Symbol iLink 3 and MDP 3.0: tag 1151-SecurityGroup |
|---|---|---|
Test – E-mini S&P MidCap 400 Futures | 0MD (zero-M-D) | $M |
iLink Order Entry
Order entry functionality is available for test products on iLink as described below.
- New Order
- Order Types and Qualifiers:
- Day
- Limit
- Order Types and Qualifiers:
- Order Modify
- Order Status
- Order Cancel
- Mass Order Status
- Mass Order Cancel
Market Data
Market data functionality for test products is available as follows.
Market States
Only the Pre-Open and Closed market states are available for test contracts per the following schedule.
| Day | Time (CT) | Instrument Security Status (tag 35-MsgType = f) |
|---|---|---|
| Sunday | tag 326-SecurityTradingStatus = | |
| Pre Open | 16:00 | 21 (Pre Open) |
| Close | 16:59 | 4 (Close) |
| Monday-Thursday | tag 326-SecurityTradingStatus = | |
| Pre-Open | 16:45 | 21 (Pre Open) |
| Close | 16:59 | 4 (Close) |
Market Data Statistics
The following statistics are available for test contracts.
- Indicative Opening – Incremental Refresh tag 35-MsgType=X, tag 269-MDEntryType=4
- A fixed, reasonable value will be published in the Daily Settlement – Incremental Refresh tag 35-MsgType=X, tag 269-MDEntryType=6 (Settlement price)
- Preliminary settlements will be published
- Messaging Controls are applicable
Risk Management Services
CME Globex Credit Controls
For GC2 purposes, test products will have a $1 margin rate.
Drop Copy
Drop Copy is available for test product order entry messages.
CME Globex Synthetic Products
CME Globex also lists synthetic products for internal testing purposes only. These products are not eligible for customer order entry. Synthetic products can be identified by the use of a special character in the Group Code (tag 1151-SecurityGroup).
Examples of Synthetic Products
This is not a comprehensive list. Clients must leverage the SecurityGroup value to determine what is a Synthetic product.
| Synthetic Product | MDP 3.0: TAG 6937-ASSET | ILINK 2: TAG 55-SYMBOL MDP 3.0 and iLink 3; TAG 1151 - SECURITY GROUP |
|---|---|---|
Test Nikkei 225 (Yen) | 0NK | #2 |
Test Three-Month SOFR futures | 0SR | $D |
Test Three-Month SOFR options | 0SR | A$ |