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CME Straight Through Processing

CME Straight Through Processing

Straight Through Processing (STP) at CME Group enhances the trade lifecycle by automating order routing, execution and confirmation. This system not only reduces operational risks but also boosts efficiency and accelerates settlement processes. STP supports a vast array of products traded at CME Group including futures, options, spread, cleared OTC transactions along with Fixed Income and FX cash markets. CME Straight Through Processing (CME STP) messages and functions are made available using industry standard FIX and FIXML API formats with custom CME Group extensions:

  • CME STP FIX - A standard FIX 4.4 API which supports Query, Subscriptions and trade confirmation message Streaming over TCP/IP with custom CME extensions and data dictionary (link in CME STP FIX table below)

  • CME STP FIXML - Built upon Representation State Transfer (REST) web service technology. Client systems can use POST method to a HTTP URL to obtain trade confirmations. HTTP parameters, POST payload and statuses are used to model the remote procedure call behavior. The inbound / outbound trade data payload is FIXML, a XML representation FIX.

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Service Overview

This section provides a service overview for CME STP FIX and CME STP FIXML features.

CME STP FIX Features

This section describes the STP FIX features available for futures and options, BrokerTec, and EBS markets.

CME STP FIX Feature

Futures and Options

BrokerTec

EBS

Description

CME STP FIX Feature

Futures and Options

BrokerTec

EBS

Description

CME STP - Availability and Testing

 

CME STP FIX - FIX Protocol

 

CME STP FIX - Disaster Recovery

 

CME STP FIX - Session Layer

Connectivity, Session Management, Snapshot and Subscriptions, Error Handling

Business Layer

CME STP FIX - Spread Trades

Subscribe to and handle multi-legged Spread trades

CME STP FIX - Business Layer - Futures and Options

Business concepts specific to markets supported by CME STP FIX

CME STP FIX - Business Layer - BrokerTec

CME STP FIX - Business Layer - EBS

Message Specification

CME STP FIX - Session Message Specifications

Message specifications to manage a session between Client system and CME STP FIX

CME STP FIX - Business Message Specification - Futures and Options

 

CME STP FIX - Business Message Specifications - EBS FX

 

CME STP FIX - Business Message Specifications - BrokerTec FI

 

CME STP FIX Data Dictionary

Unified FIX data dictionary for use by client systems to validate inbound and outbound messages from CME STP FIX

CME STP FIXML Features

This section describes the STP FIXML features available for futures and options, BrokerTec, and EBS markets.

CME STP FIXML Feature

Futures and Options

BrokerTec

EBS

Description

CME STP FIXML Feature

Futures and Options

BrokerTec

EBS

Description

CME STP - Availability and Testing

 

CME STP FIXML - FIXML Protocol

 

CME STP FIXML - Disaster Recovery

 

CME STP FIXML - Session Layer

Connectivity, Session Management, Snapshot and Subscriptions, Error Handling

Business Layer

CME STP FIXML - Spread Trades

Subscribe to and handle multi-legged Spread trades

CME STP FIXML - Business Layer - Futures and Options

Business concepts specific to markets supported by CME STP FIXML

CME STP FIXML - Business Layer - BrokerTec

CME STP FIXML - Business Concepts - EBS

Message Specification

CME STP FIXML - Session Message Specifications

Message specifications to manage a session between Client system and CME STP FIXML

CME STP FIXML - Business Message Specification - Futures and Options

 

CME STP FIXML - Business Message Specifications - EBS FX

 

CME STP FIXML - Business Message Specifications - BrokerTec FI

 

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