CME Group amended its industry guidance regarding pre-execution communications to extend the “committed cross protocol” as an additional crossing protocol for interest rate futures and swaps and FX futures. Pre-execution communications are permitted at all times for most CME Group futures and options traded on Globex (with exceptions for some Chicago Board of Trade products) but never for open outcry transactions, with the exception of Chicago Mercantile Exchange S&P futures transactions. However, different products have different permitted processes for execution following such pre-execution discussions. The new guidance is effective June 6. (Click here for details regarding the different CME Group protocols in the article, “CME Group Updates Its Pre-Execution Communication Rule to Reflect New Committed Crosses” in the January 31, 2016 edition of Bridging the Week.)