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MetalSymbolSecurityGroupComment
SilverXAG/USDUnpopulatedStandard
Small SilverXAG/USDXAG/USD SMUsed to be traded as SAG/USD prior to EBS migration.
Gold (EUR)XAU/EURUnpopulatedDoes not exist!
Small Gold (EUR)XAU/EURXAU/EUR SMUsed to be traded as SAU/EUR prior to EBS migration.
GoldXAU/USDUnpopulatedDoes not exist!
Small GoldXAU/USDXAU/USD SMUsed to be traded as SAU/USD prior to EBS migration.
Palladium (Zurich)XPD/USDUnpopulatedSettles via loco Zurich.
Palladium (London)XPD/USDXPD/USD LNSettles via loco London. Used to be traded as LPD/USD prior to EBS migration.
Platinum (Zurich)XPT/USDUnpopulatedSettles via loco Zurich.
Platinum (London)XPT/USD

XPT/USD LN

Settles via loco London.  Used to be traded as LPT/USD prior to EBS migration.

CME FX Spot+

FX Spot+_ API Users guide

The SecurityGroup field must be populated with the string "FXSpot+" to trade these instruments.

The CME FX Spot+ tradable instruments will be available for the select currency pairs.

Product NameSymbolSecurity Group
Euro / US Dollar Spot FXEUR/USDFXSpot+
US Dollar / Canadian Dollar Spot FXUSD/CADFXSpot+
British Pound / US Dollar Spot FXGBP/USDFXSpot+
Australian Dollar / US Dollar Spot FXAUD/USDFXSpot+
US Dollar / Japanese Yen Spot FXUSD/JPYFXSpot+
US Dollar/Swiss Franc Spot FXUSD/CHFFXSpot+
New Zealand Dollar/US Dollar Spot FXNZD/USDFXSpot+
US Dollar / Mexican Peso Spot FXUSD/MXNFXSpot+


Note
  • The product thresholds and limits published in SecurityStatus message are specified in base currency.
  • Liquidity for FXSpot+ orders can be from other FXSpot+ orders, or from FXLink spread orders. It is therefore possible for MDEntrySize to be a non-rounded amount indicating implied liquidity.
  • MaxShow not supported for FXSpot+
  • If an order is partially filled, and the remaining quantity falls below the Minimum Order cancel threshold for the product, the remaining order will be canceled by CME.

iLink Order Cancel-Replace and In-Flight Mitigation

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Note
titleEBS ilink3 FAK/FOK Credit Enhancements

Effective Sunday, August 13 (trade date Monday, August 14), CME Group will implement enhancements to iLink 3 EBS Fill and Kill (FAK) and Fill or Kill (FOK) order behavior where credit is insufficient. With this change, if an FAK/FOK order cannot match due to insufficient bilateral credit, it will be accepted and then cancelled.

If an FAK/FOK order cannot match due to insufficient bilateral credit, Whisperer clients will receive ExecutionReport with OrdStatus = New and subsequently ExecutionReport with OrdStatus = Cancelled.

Currently, if an FAK/FOK order cannot match due to insufficient bilateral credit, the order is accepted and eliminated.

NDF Liquidity Pool Consolidation:

Note
titleNDF Liquidity Pool Consolidation


Background of EBS Market NDF Trading

  • EBS Market (CLOB) operates Spot FX and precious metals markets under the legal entity EBS SERVICE COMPANY LIMITED (MIC: EBSC)
  • NDFs operated under the same legal entity venue as Spot and Precious Metals until 2013. 
  • In 2013, a Swap Execution Facility (SEF) called NEX SEF (MIC: NEXS) was launched to address regulatory requirements in the US. 
  • US-located clients began trading “on-SEF”, while EMEA and APAC continued trading “off-SEF” on the legacy venue. 
  • In 2017, the off-SEF instruments were migrated to a separate regulated venue, a Multilateral Trading Facility (MTF) called BEL MTF (MIC: XEBS). 
  • Late last year, the CFTC reaffirmed the no-action relief previously given to MTF venues, allowing full access from US participants (previously restricted to accessing only SEF venues.) 
  • This cleared the way for CME to merge all NDF trading onto the MTF, thus removing bifurcation from the NDF market. 

Single Liquidity Pool (SLP)Timeline: Beginning 30 September 2024, EBS Market NDFs will no longer trade on the NEX SEF and the BEL MTF; all NDF trading will happen on the BEL MTF. 

  • No changes will occur to existing MTF trading, connectivity or venue setup. 
  • SEF trading will no longer be allowed (order entry disabled)
  • SEF will remain live for contingency purposes