Positions User Manual

Table of Contents
1. Introduction ......................................................................................................................... 3
2. Requesting Access ............................................................................................................. 3
3. Accessing Positions in Production ...................................................................................... 4
4. Menu................................................................................................................................... 4
5. Position List ........................................................................................................................ 5
6. Variation and Premium Summary ....................................................................................... 8
7. Option Instruction................................................................................................................ 9
8. Adjustments .......................................................................................................................14
9. Position Change Submission .............................................................................................17
10. Spread List.........................................................................................................................18
11. Position Details ..................................................................................................................20

Global Operations Education 2

Positions User Guide
1. Introduction
The CME Positions System is a web-based application that provides users access to
position data. The system allows member firms to:
• View the status of the positions throughout the day as the system is updated real-time to
reflect all changes.
• View positions, enter on-line position adjustments, position change submission (PCS)
updates, and position spread updates.
• View variation and premium information.
• View intra-day and end-of-day snapshots of their position data for the current day and
three prior days.

The Positions System provides the following features:

• Access: CME Positions is accessed through CME Connect.
• Search Capabilities: Users have more search capabilities. For example, users can
search for multiple contracts on a single screen.
• Excel Downloads: Users can download search results into an excel spreadsheet.
• Entering Exercises: Users can enter multiple options instructions within one account.
Users will no longer have to keep tally of the number of options exercised.

2. Requesting Access
Access to CME Positions is granted by written request from an officer of the clearing
member firm. Access can be granted at two levels:
• Firm User: This option will give you access to all position accounts under clearing firms
for which you are authorized.
• Account User: This option will give you access to specific position accounts under
clearing firms for which you are authorized.

To request access:
The request access form is located on cmegroup.com:
http://www.cmegroup.com/clearing/files/onlineaccess.pdf

1. Complete the form and ensure it is signed by an officer from the clearing member
firm.
2. Fax (312-338-2626) or e-mail the form to customersupport@cmegroup.com
3. Allow 48 hours for the request to be processed.

Global Operations Education 3

Positions User Guide
3. Accessing Positions in Production
To access Positions in Production:
1. Open your Internet browser.
2. Go to http://connect.cmeclearingeurope.com
3. Enter your Connect Username and Password. Ensure the product selection list is set
to CME Portal.
4. Click the Login button and the Connect menu will appear.
5. Click the Positions icon.
6. Enter your Clearing Single Sign-on Username and Password.

To access Positions in Certification:

1. Open your Internet browser.
2. Go to https://connectcert.cmeclearingeurope.com
3. Enter your Connect Username and Password. Ensure the product selection list is set
to CME Portal.
4. Click the Login button and the Connect menu will appear.
5. Click the Positions icon.
6. Enter your Clearing Single Sign-on Username and Password.

4. Menu
After logging in, you will see the Positions main menu as shown below.

Select Positions Select

to access a list of Adjustments to
current positions enter equal
or a variation and adjustments or
premium review a list of
summary. adjustments.

Select Open Select PCS to

Instruction to enter inquire or
or edit option or to update a PCS
review a list or a or Spread value
summary of option
instructions.

Global Operations Education 4

Positions User Guide
5. Position List
The Positions List feature lets you review the status of various long and short trades, as well
as options. This screen will show you your net position across all contracts in a position
account.

To go to the Position List:

1. Select Position List from the Positions drop down list on the main menu.
2. The Position List: Search Criteria screen appears.

In general, the defaults on the Positions Search Criteria screens is set to return the
maximum number of results. You can narrow your searches by adding search criteria.

Click Results to specify the Cycle: Depending on which

number of transactions to display screen is displayed, options are
at one time (5, 10, 25, 50 or 100. Current, intraday and end of day.
50 is the default value. Changing the cycle will change the
search results.

Click Reset to Click Search to

restore criteria to begin the search.
their default
values.

Global Operations Education 5

Positions User Guide
 Position List Search Criteria

Field/Checkbox Definition/Function

Clearing Org This field is set to CME by default.

Clearing Firm This is the Clearing Firm Number.
Position Account This field is the account under which the positions are held.
Origin This is the origin for the position.
o Customer or House
Product Exchange This is the exchange where the product is traded
Product Code This is the two digit product code
Type This allows you to search for your position based on type:
o Future
o Option
o Combo
o Credit Default Swap
o Forward
o Interest Rate SWAP
o Physical
Contract Date This allow you to search by contract month/year
Results This allows you to specify the number of rows to be viewed in the
search results
Option Detail (P/C) This allows you to search by:
o All
o Put
o Call
Strike This allows you to search by strike price. Data in these fields should be
entered in decimal format.
Underlying Product Code
Contract Date
Coupon Rate This does not apply to NYMEX.
With Positions: Select to execute a search to all contracts where the firm may has a
position.

Expiring: Select to display only contracts that are expiring on the current
business day.

Flexible Only: Select to display data for Flex options only. This does not apply to
NYMEX.

Global Operations Education 6

Positions User Guide
To complete a search:

1. Enter search criteria.

2. Click Search. The search results screen appears.

Click the Click the arrows Click Download

hyperlink to go to to view additional to send the
Position Details. pages of results. results to a
spreadsheet.

Special Sort feature: You can sort many of the columns in an ascending or descending
order. To see if a column can be sorted, roll the cursor over the title. If the cursor changes to
a hand, you may sort the column.

When you are finished reviewing, you may do one of the following:
• Click ⊳ or  to review more pages meeting your search criteria.
• Download the results to a spreadsheet.
• Revise the search criteria to review different lists of positions.
• Select another feature from the menu bar.

Global Operations Education 7

Positions User Guide
6. Variation and Premium Summary
The Variation and Premium Summary option will allow you to view your net positions across
all contracts in a position account.

To search go to the Variation and Premium Summary:

1. Go to Positions -> Variations and Premium Summary
2. The Search Criteria screen appears.
3. Enter your search criteria.
4. Click Search.

Click the + to
view additional
details.

When you are finished reviewing, you may do one of the following:
• Click ⊳ or  to review more pages meeting your search criteria.
• Download the results to a spreadsheet.
• Revise the search criteria to review different lists of positions.
• Select another feature from the menu bar.

Global Operations Education 8

Positions User Guide
7. Option Instruction
To search for your options:
1. Go to Option Instruction-> Options Instruction Entry. The Options Instruction Entry:
Search Criteria screen appears.
2. Enter your search criteria: Clearing Firm, Position Account and Origin are required.
3. Click Search. The search results screen appears.

Global Operations Education 9

Positions User Guide
 To enter an option instruction:
1. Click the radio button next to the transaction and click Select. The Option Instruction
Entry Details screen, shown on the next page, appears.

Global Operations Education 10

Positions User Guide
 Option Instruction Entry Details Screen

2. Select the Exercise or Abandon function from the dropdown list and enter a quantity.
The account number is optional.

Note: you cannot abandon an option until the expiration date.

Click Add. The instruction is saved and appears in the list box below the entry fields.

Note: your changes will not appear on the transaction line itself. They will appear for the
transaction when you click Back.

When you are finished reviewing, you may do one of the following:
• Enter additional instructions.
• Click Back to return to the Search Results screen.
• Select another feature from the menu bar.

To edit or delete an option instruction:

1. Go to Option Instruction -> Options Instruction List.
2. Enter your search criteria: Clearing Firm, Position Account and Origin are required.
3. Click Search. The search results screen appears.

Global Operations Education 11

Positions User Guide
 4. To edit an instruction, select the check box button next to the transaction, change the
Quantity or Account Number and click Update.
5. To delete an instruction, select the check box button next to the transaction and click
Delete.

Note: You cannot change an option that is past its deadline. If the option is past its deadline,
the checkbox, Quantity, and Account Number fields will be grayed out.

When you are finished reviewing, you may do one of the following:
• Revise the search criteria to edit more transactions.
• Download the results to a spreadsheet.
• Select another feature from the menu bar.

To view a list of option instructions that you have entered:

1. Select Options Instruction Summary from the Option Instruction drop down list on
the main menu. The Options Instruction List: Search Criteria screen appears.
2. Select the Instruction Type from the dropdown menu. The choices are:

Global Operations Education 12

Positions User Guide
 Type Displays

All Data for all option instructions

Abandons Option instructions for abandonment requests
Assignments Assignments only. Will have data only after the option exercise process has run
in Clearing
Contrary All abandonments or out-of-the-money exercises. Default value
Instructions
Exercises All exercises
OTM Exercises Displays only option instructions that are out-of-the-money

3. Enter search criteria and click Search. The search results screen appears.

4. To review additional details, click + next to the transaction.

When you are finished reviewing, you may do one of the following:
• Revise the search criteria to edit more transactions.
• Download the results to a spreadsheet.
• Select another feature from the menu bar.

Global Operations Education 13

Positions User Guide
8. Adjustments
To enter an adjustment to your incoming position on a contract:
1. Select Equal Adjustment Entry from the Adjustment drop down list on the main
menu. The Equal Adjustment Entry: Search Criteria screen appears.
2. Enter search criteria and click Search. The search results screen appears.

3. When you finish entering data, click Update. The search results will be updated with
the Adjusted SOD Long and Short quantities.

Note: If you would like to correct an adjustment, then enter the correct number and click
on Update. If you want to remove an adjustment than enter zero.

Global Operations Education 14

Positions User Guide
 When you are finished, you may do one of the following:
• Enter more adjustments.
• Revise the search criteria to review more summaries.
• Download the results to a spreadsheet.
• Select another feature from the menu bar.

Global Operations Education 15

Positions User Guide
 To view a list of adjustments that you have entered for the day:
1. Select Adjustment List from the Adjustments drop-down list on the main menu.
The Adjustment List: Search Criteria screen appears.
2. Enter search criteria and click Search. The search screen appears.

Global Operations Education 16

Positions User Guide
9. Position Change Submission
To manually submit your final long position:
1. Select PCS List from the PCS dropdown list on the main menu. The PCS: Search Criteria
screen appears. This screen allows you to submit final long positions which are affected
by current day match trades. From this screen you can update PCS information and lock
these values from further updates.
2. Enter search criteria and click Search. The search results screen appears.

3. Enter position information in the field provided. If you would like, then you can select the
Lock to prevent further updates to a transaction.
4. When you are finished, click Update.
Note: If you need to change PCS information, click the Lock checkbox to clear the check
and make your changes.

Global Operations Education 17

Positions User Guide
10. Spread List
Clearing firms may reduce their performance bond requirements by reporting bona fide
inter- and intra-commodity spreads within the same position account. These spreads
offset some of the risk normally associated with naked, or non-spread positions.

To lock update spread values and locks the values from further updates:

1. Select Spread List from the PCS dropdown list on the main menu. The Spread List:
Search Criteria screen appears.
2. Enter search criteria and click Search. The search results screen appears.
3. Enter spread information in the fields provided. Click Lock to lock a transaction.
4. When you are finished, click Update.
Note: If you need to change Spread information, click Lock checkbox once again and
make your changes.
When you are finished, you may do one of the following:
• Enter more data.
• Revise the search criteria to review more spread information.

Global Operations Education 18

Positions User Guide
 • Download the results to a spreadsheet.
• Select another feature from the menu bar.

Global Operations Education 19

Positions User Guide
11. Position Details
The position details can be viewed from any screen that lists commodity codes.
To view the position details:
1. Click the hyperlink for more information about the transaction. The Position
Details Screen will appear.
From this screen, you may review
• Start of Day & Quantity Adjustments: click Position Adjustments to go to the
Position Adjustments screen.
• Spread: click InterCommodity or IntraCommodity to go to the Spread screen.
• Summary Position: Click PCS to go to the PCS screen.
You may view more details by clicking on the tab:
• Trade Composition—Matched
• Trade Composition—Unmatched
• Product Detail

Click either link to Click to go to

go to Spread List PCS screen.
screen.

Click to go to Positions
Adjustments screen.

Global Operations Education 20

Positions User Guide
 Position Details: Trade Composition – Matched Tab

Position Details: Trade Composition – Unmatched Tab

Global Operations Education 21

Positions User Guide
FAQ

1. Who can I contact for support?

Please call +44 (0)203 379 3131 or email ClearingSupport@cmeclearingeurope.com

Global Operations Education 22

Positions User Guide
20 South Wacker Drive
Chicago, Illinois 60606-7499
Tel: 1 312 930 1000
Fax: 1 312 466 4410
E-mail: info@cmegroup.com

Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged
investment, and because only a percentage of a contract’s value is required to trade, it is possible to lose
more than the amount of money deposited for a futures position. Therefore, traders should only use funds
that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be
devoted to any one trade because they cannot expect to profit on every trade.

The Globe Logo, CME®, Chicago Mercantile Exchange®, and Globex® are trademarks of Chicago
Mercantile Exchange Inc. CBOT® and the Chicago Board of Trade® are trademarks of the Board of
Trade of the City of Chicago. NYMEX, New York Mercantile Exchange, and ClearPort are trademarks of
New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. CME Group
is a trademark of CME Group Inc. All other trademarks are the property of their respective owners.

The information within this presentation has been compiled by CME Group for general purposes only.
CME Group assumes no responsibility for any errors or omissions. Although every attempt has been
made to ensure the accuracy of the information within this presentation, CME Group assumes no
responsibility for any errors or omissions. Additionally, all examples in this presentation are hypothetical
situations, used for explanation purposes only, and should not be considered investment advice or the
results of actual market experience.

All matters pertaining to rules and specifications herein are made subject to and are superseded by
official CME, CBOT, NYMEX and CME Group rules. Current rules should be consulted in all cases
concerning contract specifications.

Copyright © 2010 CME Group. All rights reserved.

Global Operations Education 23

Positions User Guide