In Q1 2024 the CME Group will be launching iLink 3 Binary Order Entry Protocol access to the Convenience Gateway (CGW) or trading futures and options on futures on the CME Globex platform.
Access to CME Globex using the FIX based iLink 2 and the SBE based iLink 3 for CGW will run in parallel from February 2024 until the end of Q4, 2024 (dates subject to change of course but this is the current schedule).
This is a mandated migration meaning that all CME Globex market participants connected via iLink 2 access to the Convenience Gateway (CGW) will need to migrate to iLink 3 during this extended parallel run period.
This is a significant protocol change: The CME iLink 2 access is based on FIX Engine implementations while the iLink 3 protocol uses FIX Simple Binary Encoding (SBE) and uses the FIX Performance (FIXP) session layer protocol. From a direct market access (DMA) SDK code perspective, it’s a rewrite rather than an update.
When is it changing? Current high level milestone dates are:
- 8th May 2023: iLink 3 on CGW available in New Release environment for core functionality
- 25th September 2023: iLink 3 on CGW available in New Release environment and a new iLink certification suite will be available in AutoCert+ for pre-registered orders. AutoCert+ certification is mandatory for all client systems using CGWs.
- October 23, 2023: Production CME Request Center for self-service iLink 3 session creation
- 20th January 2024 - 3rd February 2024: Mock trading sessions
- 4th February 2024: Start of production parallel usage period during which CGW access will support both iLink 2 and iLink 3 sessions.
- 31st December 2024: End of parallel run period and deadline for migration to iLink 3 on CGW
The migration project is well documented by the CME with associated guidelines and impacts here.
All users of the current CME iLink 2 FIX based API accessing the CME Globex Convenience Gateway (CGW) sessions will need to migrate to the new CME iLink 3 Binary Order Entry Protocol SBE based API. Firms may achieve this by investing time and money in an internal development project, or use a professional supported CME iLink 3 SDK solution.
The OnixS directConnect: CME iLink 3 Binary Order Entry Handler SDK implementations provide an out-of-the-box solution.
OnixS directConnect SDK solutions support a forward migration path for venue changes to the access protocols and APIs. OnixS provides these updates to existing users within the scope of the existing software licensing and support agreements. This means the existing OnixS of the OnixS directConnect: CME iLink 2 FIX Order Entry Handler SDK have access to the OnixS directConnect: CME iLink 3 Binary Order Entry Handler SDK within the terms of the existing license.
The OnixS directConnect: CME iLink 3 Binary Order Entry Handler SDK implementations include:
- OnixS iLink 3 SDK library including SBE encoder/decoder and FIXP protocol support
- Programming Guide Documentation
- Fast-start trading client reference implementation source code samples
You can read more about the OnixS directConnect: CME iLink 3 Binary Order Entry Handler here.
For OnixS directConnect: CME SDK Release Note updates see https://www.onixs.biz/release-notes/tag/cme
