SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 23-473

Organization: Chicago Mercantile Exchange Inc. ("CME")

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): December 11, 2023 Filing Description: Modifications to

the FTIIE Futures Globex Market Maker Program

Please note only ONE choice allowed per Submission.

Organization Rules and Rule Amendments

Certification § 40.6(a)

Approval § 40.5(a)

Notification § 40.6(d)

Advance Notice of SIDCO Rule Change § 40.10(a)

SIDCO Emergency Rule Change § 40.10(h)

Rule Numbers: N/A

New Product Please note only ONE product per Submission.

Certification § 40.2(a) 

Certification Security Futures § 41.23(a)

Certification Swap Class § 40.2(d)

Approval § 40.3(a)

Approval Security Futures § 41.23(b)

Novel Derivative Product Notification § 40.12(a)

Swap Submission § 39.5

Official Product Name: 

Product Terms and Conditions (product related Rules and Rule Amendments)

Certification § 40.6(a) 

Certification Made Available to Trade Determination § 40.6(a)

Certification Security Futures § 41.24(a)

Delisting (No Open Interest) § 40.6(a) 

Approval § 40.5(a)

Approval Made Available to Trade Determination § 40.5(a)

Approval Security Futures § 41.24(c)

Approval Amendments to enumerated agricultural products § 40.4(a), § 40.5(a)

“Non-Material Agricultural Rule Change” § 40.4(b)(5)

Notification § 40.6(d)

Official Name(s) of Product(s) Affected: 

Rule Numbers: 
20 S Wacker Dr Chicago, IL 60606 T 312 466 7478 tim.elliott@cmegroup.com cmegroup.com

Timothy Elliott

Managing Director and Chief Regulatory Counsel

Legal Department

December 11, 2023

VIA ELECTRONIC PORTAL

Christopher J. Kirkpatrick

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, DC 20581

RE: Modifications to the FTIIE Futures Globex Market Maker Program

CME Submission No. 23-473

Dear Mr. Kirkpatrick:

Chicago Mercantile Exchange Inc. (“CME” or “Exchange”) hereby notifies the Commodity Futures Trading 

Commission (“CFTC” or “Commission”) of plans to modify the FTIIE Futures Globex Market Maker Program

(“Program”). The modifications to the Program will become effective on January 1, 2024.

Exhibit 1 sets forth the terms of this Program. Modifications appear below, with additions underlined and deletions 

overstruck. 

CME reviewed the designated contract market core principles (“Core Principles”) as set forth in the Commodity

Exchange Act (“CEA”). During the review, CME staff identified the following Core Principles as potentially being 

impacted: Monitoring of Trading, Execution of Transactions, Protection of Market Participants, Compliance with 

Rules, Availability of General Information, and Recordkeeping.

The Program does not impact the Exchange’s ability to perform its trade practice and market surveillance obligations 

under the CEA and the Exchange’s market regulation staff will monitor all market participants that trade the 

Program’s products to prevent manipulative trading and market abuse. Additionally, the Exchange has implemented 

systems to track Program participants’ obligations to ensure proper distribution of earned incentives. The incentives 

in the Program do not impact the Exchange’s order execution. Participants in the Program will be selected by 

Exchange staff using criteria as further stated in Exhibit 1. Chapter 4 of the CME rules includes prohibitions against 

fraudulent, non-competitive, unfair or abusive practices. All participants must execute a contractual agreement with 

the Exchange in which each participant will expressly agree to comply with and be subject to, applicable regulations 

and CME rules. The Program is subject to the Exchange’s record retention policies which comply with the CEA.

CME certifies that this Program complies with the CEA and the regulations thereunder. There were no substantive 

opposing views to this Program.

The Exchange certifies that this submission has been concurrently posted on the Exchange’s website at

http://www.cmegroup.com/market-regulation/rule-filings.html.

If you require any additional information regarding this submission, please e-mail 

CMEGSubmissionInquiry@cmegroup.com or contact Rachel Johnson at 312-466-4393 or via e-mail at 

Rachel.Johnson@cmegroup.com. Please reference our CME Submission No. 23-473 in any related correspondence.

Sincerely,

/s/ Timothy Elliott

Managing Director and Chief Regulatory Counsel 

Attachment: Exhibit 1
EXHIBIT 1

FTIIE Futures Globex Market Maker Program

Program Purpose

The purpose of the Program is to support the development of the product listed below. A more liquid 

contract on the central limit order book benefits all participants in the market.

Product Scope

Mexican Funding TIIE (Monthly Contracts) Futures (“TIE”) (“Product”).

Eligible Participants

CME may designate up to seven (7) participants in the Program. Participants may be CME members or 

non-members. Potential participants are required to submit an application/bid sheet to the Exchange as 

part of a competitive application process which is used to determine eligibility. In determining whether or 

not a prospective participant is selected to participate in the Program, Exchange staff may take into 

account a variety of factors including the strength of the quoting obligations the prospective participant is 

willing to commit to provide, whether Exchange staff believes that the prospective participant can 

maintain such obligations, and historical volume trading similar contracts. The Exchange may, from time 

to time, add or subtract from the aforementioned requirements as it deems necessary. 

Program Term

Start date is May 24, 2021. End date is April 30, 2024 July 31, 2024.

Hours

RTH 11:30AM – 2:30PM CT.

Obligations

In order to be eligible to receive the incentives, participants must quote two-sided markets in the Product, 

at predetermined average bid/ask spreads and minimum quote sizes.

Incentives

Upon meeting all obligations, as determined by the Exchange, participants may be eligible to receive 

predetermined incentives.

Monitoring and Termination of Status

The Exchange shall monitor trading activity and participants’ performance and shall retain the right to 

revoke participant status if it concludes from review that a participant has failed to meet the obligations or 

eligibility requirements of the Program.