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© 2010 CME Group. All rights reserved. CME Group – BMV Electronic Trading Overview & Customer On-Boarding February 3rd, 2011.

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Presentation on theme: "© 2010 CME Group. All rights reserved. CME Group – BMV Electronic Trading Overview & Customer On-Boarding February 3rd, 2011."— Presentation transcript:

1 © 2010 CME Group. All rights reserved

2 CME Group – BMV Electronic Trading Overview & Customer On-Boarding February 3rd, 2011

3 Partnership Overview

4 © 2010 CME Group. All rights reserved CME Group Customers BMV Group Partnership Benefits Broaden customer access and increase trading volume of CME Group products Develop relationships with non-US brokers and regulators Leverage CME Group global distribution, risk management expertise Leverage CME Group sales, marketing and customer relationships CME Group BMV Group Access every major derivatives asset class on CME Globex Safety of CME Clearing Customers Customer Focused Partnership Benefits for Customers, BMV, CME Group 4

5 © 2010 CME Group. All rights reserved Partnership Overview 5 1: Excludes MexDer customers from Mexico or Latin America; 30% gross revenue share of revenue for direct collocation customers 2-way Order Routing for Derivatives Board Level Involvement MOU for joint efforts in market development Equity Investment Long-Term Strategic Partnership

6 © 2010 CME Group. All rights reserved 6 Order Routing Overview South to North Seamless Access to Customers Mexican Customer CME Group Market Data Order Messages MexDer Translation CME Group Market Data Order Messages Globex CMEG Clearing North to South U.S. Customer MexDer Market Data Order Messages CMEG Translation MexDer Market Data Order Messages MexDerAsigna Direct or Indirect Relationship

7 Customer On-Boarding: South to North

8 © 2010 CME Group. All rights reserved Establishing a relationship with a CME Group Clearing Member Firm MexDer Members wishing to trade CME Group products must satisfy all of the appropriate US regulatory requirements in order to be authorized to trade. Mexican entities wishing to trade CME Group contracts must have an account established with a CME Group Clearing Firm. This firm is responsible for the settlement of all transactions with the CME Group Clearinghouse. The Mexican entity may alternatively trade through an omnibus account at a CME Group Clearing Firm set up by an intermediary. Many MexDer clearers and brokers have pre-existing relationships with CME Group Clearing Firms; therefore the process may also be facilitated for MexDer customers by their existing MexDer Broker or Clearing Firm. A list of CME Clearing Firms is available on the CME Group web site at: For questions regarding establishing a relationship with a CME Group Clearing Member Firm, you may also contact Global Account Management at CME Group: CME Group Global Account Management or 8 © 2010 CME Group. All rights reserved

9 Accessing CME products through a MexDer Clearing or Trading Member New Customer would contact their MexDer Clearing member or MexDer Trading member and request access to the CME market. MexDer Clearing member or MexDer Trading member will need to setup a CME clearing member relationship. This relationship can be direct or indirect CME clearing member would work with CME Group and MexDer to provide access to the new MexDer customer. The MexDer clearing member or MexDer trading member would provide this information to (BMV contact) so they can setup the account in RTS. The setup would include account number, iLink session, market data access markets. If a MexDer customer, chooses to establish a relationship with a CME Group Clearing Firm independently, a list of CME Clearing Firms is available on the CME Group web site at: 9

10 Electronic Trading Overview: South to North

11 © 2010 CME Group. All rights reserved Order Routing Basics: MexDer to CME Group BMV customers will be able to leverage their existing connectivity to MexDer to trade CME Group products: All CME, CBOT, NYMEX and COMEX market data will be available via MexDer connectivity Orders will route “South to North” from the customer’s MexDer connection via a high speed international circuit to CME Globex All CME Group products clear at the CME Clearing House CME Group Clearing Firm relationship required Targeted launch early Spring © 2010 CME Group. All rights reserved

12 Available CME Group products 12 Asset ClassProduct NameGlobex Symbol AgricultureCorn FuturesZC AgricultureCorn OptionsOZC EnergyE-mini Natural Gas FuturesQG EnergyLight Sweet Crude Oil FuturesCL Equity IndexesE-mini Dow ($5) FuturesYM Equity IndexesE-mini NASDAQ-100 FuturesNQ Equity IndexesE-mini S&P 500 FuturesES Equity IndexesE-mini S&P 500 OptionsES FXBritish Pound Futures6B FXE-mini Japanese Yen FuturesJ7 FXEuro FX Futures6E FXJapanese Yen Futures6J FXMexican Peso Futures6M Interest Rates10-Year U.S. Treasury Note FuturesZN Interest RatesEurodollar FuturesGE MetalsGold FuturesGC MetalsSilver FuturesSI

13 © 2010 CME Group. All rights reserved Customer MexDer Infrastructure CMEG Mexico Globex Hub MexDer Broker/ Clearing Member Lines to MexDer South to North Connectivity: Order Routing to CME Group via existing Line to MexDer CMEG Globex Match Engine U.S.Mexico US FCM Account with CMEG Clearing Firm required 40 Mbps line OR Globex Credit Controls set by CMEG Clearing Firm

14 © 2010 CME Group. All rights reserved Mapping of Mexder accounts with CME accounts Once the relation with a CME Clearing Firm is established, MexDer will map the account information on the interfaces The MexDer member will send orders to CME seamlessly MexDer members will trade both MexDer and CME products from the same “trading screen” All CME trades will reach the correct account at the CME Clearing Firm Clearing and settlement activities of CME products will be conducted by the CME Clearing Firm 14

15 © 2010 CME Group. All rights reserved Customers using the MexDer provided RTS screen Customers using the MexDer provided front end system (RTS screen) will not require any additional certification Key business functionality: MexDer Members utilizing the RTS front end trading screen provided by MexDer will need a direct connection to MexDer with Telmex as its provider. Contacts at MexDer: For any assistance please contact José Miguel de Dios and Irma Gonzalez at and or and 15 Order TypesOrder QualifiersMarket DataAdvanced Functionality Market (with protection) Limit Stop with protection Stop Limit Market Limit Day Good Till Cancel (GTC) Good Till Date (GTD Fill and Kill (FAK) Futures Book-Depth Supported – Full Options Book-Depth Supported – Full Implied Price and Quantity Display In-Flight Mitigation (IFM) User Defined Spreads Request for Quote (RFQ) Indicative Prices Give-Ups

16 © 2010 CME Group. All rights reserved Customers who want access via the FIX API 4.2 interface For customers who wish to use a non-exchange provided front-end or proprietary systems, MexDer requires additional certification in order to ensure they can correctly support CME Group products, Market Data and order routing. Key business functionality: There are many options to connect to the testing or production environments, for additional information - please refer to the document “Connecting to MexDer”. 16 Order TypesOrder QualifiersMarket DataAdvanced Functionality Market (with protection) Limit Stop with protection Stop Limit Market Limit Day Good Till Cancel (GTC) Good Till Date (GTD Fill and Kill (FAK) Futures Book-Depth Supported – Full Options Book-Depth Supported – Full Implied Price and Quantity Display In-Flight Mitigation (IFM) User Defined Spreads Request for Quote (RFQ) Indicative Prices Give-Ups

17 © 2010 CME Group. All rights reserved Customers who want access via the FIX API 4.2 interface Connection specifications: MexDer.pdf MexDer.pdf Link to documentation necessary for the APIs: cation.pdf cation.pdf Who to contact at the exchange for assistance?: For assistance please contact Hector García and Irma Gonzalez at and or and 17

18 © 2010 CME Group. All rights reserved Customers who want access via the FIX API 4.4 interface Customers who wish to use a non-exchange provided front-end or proprietary systems, MexDer requires additional certification in order to ensure they can correctly support CME Group products, Market Data and order routing. Please contact Hector García or Irma Gonzalez at or 16 for support on the certification process. MexDer will provide an API that supports the actual functionality that MexFix supports for trading MexDer products Key business features: 18 Order TypesOrder QualifiersMarket DataAdvanced Functionality LimitDayFutures Book-Depth Supported – Full Options Book-Depth Supported – Full Request for Quote (RFQ) Give-Ups

19 Electronic Trading on CME Globex

20 © 2010 CME Group. All rights reserved CME Globex Hub in Mexico In conjunction with the strategic partnership between CME Group and BMV, CME Group will launch a new telecommunications hub in Mexico City Region targeted for 2011: Provides new CME Group hub in the Mexico City region Standard, redundant international hub Access to all CME Group and Partner Exchange products Facilitates connectivity and reduces latency to the Globex network for Mexican and Latin American customers

21 © 2010 CME Group. All rights reserved Customer CMEG Mexico Globex Hub Connection to CME Group Hub in Mexico via Dedicated Lines Redundant Customer lines CMEG Globex Match Engine U.S.MEXICO US FCM Account with CMEG Clearing Firm required 40 Mbps line Globex Credit Controls set by CMEG Clearing Firm

22 © 2010 CME Group. All rights reserved CME Globex Order Routing Messaging New Order Filled Customer Broker OR CME Globex Match Engine New Order Order Acknowledgement Fill

23 © 2010 CME Group. All rights reserved CME Globex Order Routing Messaging New Order with Partial Fills Customer Broker OR CME Globex Match Engine New Order (10 contracts) Order Acknowledgement Partial Fill (2) Partial Fill (6)

24 © 2010 CME Group. All rights reserved CME Globex Order Routing Messaging Order Modification Customer Broker OR CME Globex Match Engine New Order Order Acknowledgement Cancel/Replace Acknowledgement Fill Order Cancel/Replace (Modification)

25 © 2010 CME Group. All rights reserved CME Globex Order Routing Messaging Order Modification with Partial Fill Customer Broker OR CME Globex Match Engine New Order Order Acknowledgement Cancel/Replace Acknowledgement Fill Order Cancel/Replace (modification) Partial Fill

26 © 2010 CME Group. All rights reserved CME Globex Order Routing Messaging Order Cancellation Customer Broker OR CME Globex Match Engine New Order Order Acknowledgement Order Cancellation Acknowledgement Order Cancel

27 © 2010 CME Group. All rights reserved CME Group Trade Cancellation Policy If an order execution occurs at a price not representative of the current market, the CME Group Globex registered contact may call the GCC to request to have the trade reviewed To invoke the policy a Globex registered contact** must call the GCC (Globex Control Center) within eight minutes of the error trade CME Group Clearing Member firms will call on behalf of customers who are not GCC authorized contacts In order to cancel or price adjust a trade, the GCC determines if the trade is within the Non-Reviewable Range (if it is, the trade stands) If a trade is outside the Non-Reviewable Range, the GCC messages all CME Globex registered contacts via Targeted Messaging and the quote vendor network alerting that the trade has been cancelled or adjusted **Only CME Group Clearing Firms may request Globex Control Center registered contact status on behalf of their customers. Please refer any questions to your CME Group Clearing Firm 27 © 2010 CME Group. All rights reserved

28 Electronic Trading Overview: North to South

29 © 2010 CME Group. All rights reserved Order Routing Basics: CME Group to MexDer CME Group customers will be able to leverage their existing connectivity to CME Globex to trade MexDer products: All MexDer interest rate and equity index derivatives product market data will be available on the CME Globex platform Orders will route “North to South” from the customer’s CME Globex connection via a high speed international circuit to MexDer’s matching engine All MexDer traded products clear at Asigna Asigna Clearing Firm relationship required Targeted launch in the second half of © 2010 CME Group. All rights reserved

30 Customer CME Globex Infrastructure CMEG Mexico Globex Hub CMEG Broker Lines to Globex North to South Connectivity: Order Routing to MexDer via existing line to CME Globex MexDer Match Engine MEXICO US Asigna Clearing Member Account with MexDer Clearing Firm required 40 Mbps line OR

31 © 2010 CME Group. All rights reserved Product Availability – MexDer products 31 For more information about MexDer products go to: and Asset ClassProduct NameMexDer Symbol Equity IndexesIPC FuturesIPC Equity IndexesIPC OptionsIP FXU.S. Dollar FuturesDEUA FXU.S. Dollar OptionsDA FXEuro /Peso futuresEURO Interest RatesTIIE FuturesTE28 Interest RatesCETE FuturesCE91 Interest RatesM3 Bond FuturesM3 Interest RatesM10 Bond FuturesM10 Interest RatesM20 Bond FuturesM20 Interest Rates2 Y TIIE Swap Futures02 Interest Rates10 Y TIIE Swap Futures10 Inflation IndexesUDI FuturesUDI

32 © 2010 CME Group. All rights reserved Comentarios Finales


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