Cme Group Inc. · NASDAQ:CME

Cme — CME Repository Service Cleared Trades Webinar (December 2012)

28 slides from Cme's conference presentation, Dec 13, 2012

  1. Slide 1: CME Repository Service: Cleared Trades Session

    CME Repository Service Cleared Trades Session December 13, 2012 © 2012 CME Group. All rights reserved 0

  2. Slide 2: Presenters

    Presenters Mitch Rose Jonathan Thursby Suneel Iyer SDR Lead SDR Business SDR Platform Business Manager Manager Analyst © 2012 CME Group. All rights reserved 1

  3. Slide 3: Agenda: CME Cleared Trades Webinar

    AGENDA: CME Cleared Trades Webinar  Introduction to CME Repository Service  Key Rules Implementation  Data Submission & Workflows  Closing Topics  Q&A © 2012 CME Group. All rights reserved 2

  4. Slide 4: CME Repository: Introductory View

    CME Repository: Introductory View CME Inc. CME Repository Service © 2012 CME Group. All rights reserved 3

  5. Slide 5: CME Repository Service

    CME Repository Service CFTC provisionally approved SDR for the credit, rates, foreign exchange and other commodity asset classes.  Built on proven systems and processes  Lowest (planned) fees  Seamless integration with CME Clearing Strengths  Maximizes efficiencies of existing infrastructure, in

  6. Slide 6: CME Repository: On-Boarding Steps

    CME Repository: On-Boarding Steps 1 Register to receive a CFTC Interim Compliant Identifier (CICI) User must register with www.ciciutility.org to receive a CICI. The CICI will be industry standard until a Legal Entity Identifier (LEI) system is approved and implemented. Assisted registration can be

  7. Slide 7: CME Repository: Fees

    CME Repository: Fees  Across the board fees holiday through September 30, 2013 • Includes back-loading  Repository fees structure and rates to be announced soon  Will be a fully compliant fee structure • Equal rates to all user types • Independent from any other CME business services  Intention

  8. Slide 8: Key Rules Implementation

    KEY RULES IMPLEMENTATION © 2012 CME Group. All rights reserved 7

  9. Slide 9: Public Real-time Reporting

    Public Real-time Reporting  Starting on first swap dealer compliance date; Dec 31 for Credit and Rates asset classes  Available from www.cmegroup.com/repository  No registration or agreement required for access  Public may access via webpage display, CSV download or RSS feed  History available

  10. Slide 10: Unique Product Identifier (UPI)

    Unique Product Identifier (UPI)  Rule Requirement • That each swap be identified in all recordkeeping and swap data reporting by means of a unique product identifier or product classification system which describes the: – Asset Class – Asset Class Sub-type – Underlying Product  CFTC has yet to est

  11. Slide 11: Unique Swap Identifiers (USI) in a Cleared Context

    Unique Swap Identifiers (USI) in a Cleared Context  Rule Requirement • Each swap shall have a fully unique identifier in recordkeeping and data reporting  Alpha USI • USI created and assigned to the original swap transaction – Off SEF/DCM: Created upon original swap reporting counterparty – On SEF

  12. Slide 12: Termination Messaging

    Termination Messaging  CME will send real-time termination message on alpha trade to original swap SDR  Message will note original swap alpha USI  Termination messaging to begin Dec 31 © 2012 CME Group. All rights reserved 11

  13. Slide 13: Daily Valuation Reporting on Cleared Swaps

    Daily Valuation Reporting on Cleared Swaps  Accepting valuations by swap dealers starting Dec 31  Support direct submission via CSVs • Future support via API • Please contact CME for discussion of alternative methods  Support your election to have a service provider submit on your behalf • No add

  14. Slide 14: Historical Swap Transactions Back-loading (Part 46)

    Historical Swap Transactions Back-loading (Part 46)  Obligation for Reporting • With market participants for original swap  Continuation Reporting • None required  Contingent EFRP’s • CME is working with the industry to address this regulatory burden on behalf of market participants © 2012 CME Gr

  15. Slide 15: Submission & Workflows

    SUBMISSION & WORKFLOWS © 2012 CME Group. All rights reserved 14

  16. Slide 16: Reporting Party Compliance Dates

    43/45 Reporting Party - Compliance Dates DCO SD* MSP* Non Credit Oct-12 Dec-31 Feb-28 Apr-10 Rates Oct-12 Dec-31 Feb-28 Apr-10 FX Jan-10 Feb-28 Feb-28 Apr-10 Commodities Jan-10 Feb-28 Feb-28 Apr-10 46 Reporting Party – Compliance Dates (pre-enactment & transition swaps) DCO SD MSP Non Credit n/a Jan

  17. Slide 17: New Release Testing – 43/45 Reports

    New Release Testing – 43/45 Reports API – API - CSV - Participant UI Cleared Noncleared NonCleared Credit Live Jan-5 Live Live Rates Live Jan-5 Live Live FX Jan* Jan* TBD Jan* Commodities Jan* Jan* TBD Jan* © 2012 CME Group. All rights reserved 16

  18. Slide 18: CME Repository Submission Formats – Part 43/45/46

    CME Repository Submission Formats – Part 43/45/46 API File Credit FIXML CSV Rates FIXML with embedded FpML CSV FX FIXML CSV Commodities FIXML CSV Technical Documentation API Msg API Spec CSV Spec & Samples Sample Credit Available Jan-5 Available Rates Available Jan-5 Available FX Dec-19 Jan-31 TBD C

  19. Slide 19: Participant User Interface (UI)

    Participant User Interface (UI)  User interface to CME Repository activity and history  Facilitates upload of CSV files to CME Repository to comply with all reporting obligations  Simple and complex ad hoc reporting capabilities  Available to all registered users

  20. Slide 20: Participant UI: View Trades

    Participant UI: View Trades © 2012 CME Group. All rights reserved 19

  21. Slide 21: Participant UI: Valuation Reports

    Participant UI: Valuation Reports © 2012 CME Group. All rights reserved 20

  22. Slide 22: Participant UI: Customize Reports

    Participant UI: Customize Reports © 2012 CME Group. All rights reserved 21

  23. Slide 23: Scenario: CME Cleared; CME SDR for original swap report

    Scenario: CME Cleared; CME SDR for original swap report 1. Bilateral trade between CP1 and CP2 1 2. CP2 enters trade economics CP1 CP2 3. CP1 affirms trade 4. Platform (or CP1 or CP2) may assign USI “α” to 3 2 bilateral trade, and sends the trade to CME Platform (SEF/Affirm) ClearPort along with PET

  24. Slide 24: Closing Topics

    CLOSING TOPICS © 2012 CME Group. All rights reserved 23

  25. Slide 25: Related CME Services

    Related CME Services  CME ClearPort • Set of flexible clearing services for the global OTC market • Initially launched in 2002 to centralize clearing and mitigate risk in energy marketplace  CME ClearPort API • Multi-asset class gateway access to CME post-trade services; including CME Repository S

  26. Slide 26: Partners

    Partners 15+ platforms connected to submit 25+ firms engaged with CME to transactions for clearing extend support for SDR reporting Email for a comprehensive list OTCConnectivity@cmegroup.com © 2012 CME Group. All rights reserved 25

  27. Slide 27: Final Thoughts

    Final Thoughts  Strong Domain Expertise  In a Position to be a Low Cost Provider  Workflow Simplicity  Proven Architecture  Leverage Existing Connectivity  Developing a Wide Network of Connected Service Providers  Integration with Platforms and SEFs  User Working Group starting in January ©

  28. Slide 28: Business Contact

    Business Contact Email at Repository@cmegroup.com On-boarding, Integration Email at RepositorySupport@cmegroup.com & Production Support Available during US business hours Online Resources www.cmegroup.com/repository © 2012 CME Group. All rights reserved 27

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