Futures

Minneapolis Grain Exchange (“MGEX”) will participate in the industry-wide Futures Industry Association (“FIA”) sponsored Disaster Recovery (“DR”) test on Saturday, October 5, 2024. All MGEX Clearing Members are required to participate in the test as described below, including entering trades on both CME Globex® and the MGEX Clearing System (“MCS”), as well as retrieving the corresponding TREX files and sending confirmation to MGEX. Failure to participate will result in disciplinary action. In addition, please note that while you may work with a technology provider or other firm to complete the required test components, each Clearing Member will remain ultimately responsible for its own success or failure. If you are approved to clear Bitnomial Exchange contracts, you will be receiving a separate memo describing additional testing requirements. If applicable, please ensure you complete all testing requirements.

Clearing Members must complete the following four test components during the DR test:

1. Trade Entry – CME Globex®

All Clearing Members must enter trades on CME Globex®. On the day of the test, Globex® will be available in a Pre-Open state at approximately 7:30 am (CDT) and will be moved to an open state at approximately 8:00 am (CDT). CME will provide updates as to exact Pre-Open and open times via the FIA conference bridge available.

Examples of MGEX Products (ticker symbol shown below) available on Globex® for the FIA DR test:

Hard Red Spring Wheat (MWE)
Hard Red Spring Wheat Options (OMW)

Bids and offers should be entered in MGEX products (i.e. Spring Wheat (MWE) or Spring Wheat Options (OMW)) at the previous day’s settlement price (this will ensure your trade matches with other participants). In order to complete this part of the test process, Clearing Members must ensure they have matched trades on Globex®
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Hard Red Spring Wheat Futures (MWE) i.e. MWEZ4
Hard Red Spring Wheat Options (OMW) i.e. OMWZ4 C0750

2. Trade Entry – MGEX MCS

In addition to entering trades on Globex®, Clearing Members must enter either an ex-pit transaction (EFP/EFR) or an open outcry option transaction via MCS. Clearing Members should simply enter both sides of the transaction to ensure a successful match occurs in MCS for this portion of the test.

Hard Red Spring Wheat Futures (W) i.e. W 12 24 (commodity, month, year)
Hard Red Spring Wheat Options (WC or WP) i.e. WC 12 24 750 (comm., mth, yr, strike)

Clearing Members can use October 7th for the trade date.

3. Post Trade Documentation – MGEX TREX trade file

Trades entered into Globex® and MCS during the exercise will be processed by the MGEX Clearing House, and Clearing Members must download the corresponding TREX trade file. Clearing Members will utilize the MGEX DR SFTP server to retrieve the TREX files. The trade file name will correspond with the new convention being used today, i.e. – TRXzz_yyyymmdd.txt (where zz equates to the Clearing Firm code & yyyymmdd equals trade date).

4. Post Trade Documentation – Submit to MGEX

After completing the above steps, Clearing Members must submit the SFTP file available via the MGEX DR SFTP site to MGEX by emailing lhopkins@miaxglobal.com and jkrause@miaxglobal.com. Upon submitting such, MGEX staff will inform the Clearing Member whether they have successfully completed the FIA DR test for MGEX or if further action is required.

MGEX Testing Contacts

Should you have any questions concerning any memo or testing requirements with MGEX, please contact Lindsay Hopkins: 612-321-7143 lhopkins@miaxglobal.com

On the test day, please contact the MGEX Clearing House at 612-321-7146 or MGEXClearingOperations@MIAXGlobal.com if you have any questions concerning the test or participation with MGEX. MGEX staff will be monitoring the FIA Conference Bridge phone for any inquiries. For pre-test, technical, or connectivity assistance please contact the following:

Ben Lundgren (612) 321-7178 blundgren@miaxglobal.com
Todd Posthuma (612) 321-7132 tposthuma@miaxglobal.com

For more information, please contact MGEX Clearing Operations at MGEXClearingOperations@miaxglobal.com or (612) 321-7146.

To add MGEX Alerts to your current e-mail subscriptions, revise your current MIAX Exchange Group e-mail subscriptions or to register a new e-mail address, visit MIAX Email Subscriptions.

To learn more about MGEX, please contact Futures@miaxglobal.com.