CFE Update on OCC Clearing Issues

February 28, 2018 12:03:23

The CFE Trade Desk has been working closely with the OCC to troubleshoot any reported clearing issues and will implement two changes to assist in mitigating any remaining clearing defaults at the OCC.

Effective at 5:00 p.m. CT on Wednesday, February 28, the CFE will no longer pass through any values that are sent in FIX Tag 440 (BOE ClearingAccount) to the OCC.  TPHs should send their account information in FIX Tag 1 (BOE Account).  TPHs may continue to populate FIX Tag 440 (BOE ClearingAccount) with up to four characters of optional data that will be sent back on BOE/FIX sessions and on any associated drop ports.  TPHs may immediately resolve OCC defaults related to incorrect Tag 440 (ClearingAccount) values by clearing out this field on all new BOE/FIX messages to CFE.

Effective at 5:00 p.m. CT on Thursday, March 1, the CFE will update the Exec Brkr field value that is sent to the OCC from the CFE Firm ID to be the EFID.  The EFID is specified in FIX Tag 115 (BOE ClearingFirm).  This change is being made to allow TPHs to identify the EFID that was used on each trade at the OCC.

Please contact the CFE Trade Desk with any questions regarding these two changes.

CFE Trade Desk
[email protected]