September 16, 2021

Volume XI, Number 259

Advertisement

September 15, 2021

Subscribe to Latest Legal News and Analysis

September 14, 2021

Subscribe to Latest Legal News and Analysis

September 13, 2021

Subscribe to Latest Legal News and Analysis
Advertisement

Chicago Mercantile Exchange (CME) Amends Electronic Audit Trail Requirements

The Chicago Mercantile Exchange (CME) issued a market regulation advisory relating to electronic audit trail requirements for orders entered into the Globex platform through the CME iLink® gateway. Pursuant to the advisory and revised CME Rule 536.B, each entity certified to connect an order routing/front-end system to the Globex platform through the CME iLink gateway is required to create an audit trail for each message entered into Globex. Clearing members guaranteeing connections to Globex are responsible for maintaining electronic audit trails for such systems.

Revised CME Rule 536.B also provides that each electronic audit trail must be complete and accurate and account for every electronic communication received or generated by such system, including any electronic communication received from Globex. The minimum requirement for timing data has also been revised from a hundredth of a second to a thousandth of a second. 

CME’s advisory notice is available here.

©2021 Katten Muchin Rosenman LLPNational Law Review, Volume III, Number 228
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement

About this Author

Kevin M. Foley, Finance Lawyer, Katten Llaw Firm
Partner

Kevin M. Foley has extensive experience in commodities law and advises a wide range of clients, both in the United States and abroad, on compliance with the Commodity Exchange Act and the rules of the Commodity Futures Trading Commission (CFTC) affecting traditional exchange-traded products, as well as the over-the-counter markets involving swaps and other derivative instruments. His clients include futures commission merchants, derivatives clearing organizations, designated contract markets, foreign boards of trade and an industry trade association.

...

312-902-5372
James M. Brady, Katten Muchin Law Firm, Finance Attorney
Associate

James Brady concentrates his practice in financial services matters.

While in law school, James was an editor of the Michigan Journal of International Law. He also served as a judicial intern to the Honorable Stephen J. Markman of the Michigan Supreme Court. http://www.kattenlaw.com/James-Brady

312-902-5362
Advertisement
Advertisement
Advertisement