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Placing Electronic Copies of CME Group Web Site Content on a non-CME Group Web Site

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Regulatory and Trading Advice Disclaimer

Neither futures trading nor swaps trading are suitable for all investors, and each involves the risk of loss. Swaps trading should only be undertaken by investors who are Eligible Contract Participants (ECPs) within the meaning of Section 1a(18) of the Commodity Exchange Act. Futures and swaps each are leveraged investments 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 either a futures or swaps 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 traders cannot expect to profit on every trade. All references to options refer to options on futures.

Any research views expressed those of the individual author and do not necessarily represent the views of the CME Group or its affiliates. All examples 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All matters pertaining to rules and specifications herein are made subject to and are superseded by official rulebook of the organizations. Current rules should be consulted in all cases concerning contract specifications.

Trademarks

The following trademarks, logos, and service marks (collectively the "Trademarks") displayed on this site are owned by Chicago Mercantile Exchange Inc. or the Board of Trade of the City of Chicago, Inc. Amicus®, Building Futures in our Community®, Call it Return on Innovation™, CBOT Direct®, CBOT Market Profile®, CBOT®, CBT®, Chicago Board of Trade®, Chicago Mercantile Exchange®, Chicago Securities Corp™, Clearing360™, CME Alternative Marketplace™, CME Auction Markets™, CME Chicago Mercantile Exchange®, CME Datamine™, CME E-mini®, CME Feeder Cattle Index®, CME Globex®, CME Group®, CME Ilink®, CME Lean Hog Index®, CME Now®, CME Rainfaill Index™, CME Spottrade™, CME Stocker Cattle Index®, CME Trust™, CME®, CTR Plus®, Driving Futures For Over 155 Years®, Eagle-I®, E-CBOT®, Electronic Trading Around the Clock from Around the World®, E-mini®, Engineering Market Faith®, E-PX®, E-Quivalents®, Gains®, Galax-C®, GEM®, Global Markets Association™, Globex Trader®, Globex®, Globex2®, Growth And Emerging Markets®, I Need To Weather the Extremes™, Ideas That Change the World®, IEF®, Ilink®, I-Link®, IMM®, International Monetary Market™, IOM®, LEF™, Market Profile®, Obex®, Pc-Span®, Predictability Is What I Bank On™, QBI®, Risk Is What You Make Of It™, Span Risk Manager®, Span®, SPCTR®, Surge Stopper®, The Exchange of Ideas™, We Invented Financial Futures®, Windjammer® and the following designs: ®, ®,®, ®, ™ Clearing 21® is a trademark of the Chicago Mercantile Exchange Inc. and New York Mercantile Exchange. Because Time Is Your Most Precious Commodity®, Clean Powered®, Clean Powered by NYMEX®, Clearport®, Comex Miny®, Commodity Exchange®, COMEX®, Energy In The News®, Green Is Clean®, Miny®, New York Clean Exchange®, New York Mercantile Exchange®, New York Mercantile Exchange – Europe®, New York Mercantile Exchange Access®, New York Mercantile Exchange Clearport®, NYMEX®, NYMEX -Europe™, NYMEX 3-2-1®, NYMEX 3-2-1 Plus®, NYMEX Access®, NYMEX Cat Risk®, NYMEX Clearport®, NYMEX Direct®, NYMEX Iport™, NYMEX Miny™, NYMEXSOFTS™, NYMEXSOFTS Coffee Sugar Cocoa Cotton FCOJ®, The Green Exchange®, Vision Is Our Greatest Commodity™ and the designs: ®,  ®, ®, ® are trademarks of the New York Mercantile Exchange, Inc. "CBOE®" and "VIX®" are trademarks of Chicago Board Options Exchange, Incorporate ("CBOE") and have been licensed for use by CME Group, Inc. for certain purposes associated with the CBOE/NYMEX Crude Oil (WTI) Volatility Index, CBOE/COMEX Gold Volatility Index, CBOE/CBOT Corn Volatility Index and CBOE/CBOT Soybean Volatility Index. CBOE makes no representation regarding the advisability of investing in any investment product that is based on such Volatility Indexes.

Nasdaq®, Nasdaq Composite®, Nasdaq Composite Index®, Nasdaq-100 Index Tracking Stock®, Nasdaq-100 Index®, Nasdaq Biotechnology Index™ and QQQ® are trademarks of The Nasdaq Stock Market, Inc. (which with its affiliates are the Corporations) and are licensed for use by Chicago Mercantile Exchange Inc. The Contracts have not been passed on by the Corporations as to their legality or suitability. The Contracts are not issued, endorsed, sold, or promoted by the Corporations. The Corporations make no warranties and bear no liability with respect to the Futures Contracts.

Standard & Poor's, S&P®, S&P 500®, S&P-GSCI™, S&P-GSCI Spot Index™, S&P-GSCI Excess Return Index™, S&P-GSCI Total Return Index™, S&P-GSCI Non-Energy Excess Return Index™, S&P-GSCI Light Energy Excess Return Index™, S&P-GSCI Livestock Excess Return Index™, S&P-GSCI Industrial Metals Excess Return Index™, S&P-GSCI Energy Excess Return Index™, S&P-GSCI WTI Oil Excess Return Index™, S&P-GSCI Natural Gas Excess Return Index™, S&P-GSCI Grains Excess Return Index™, S&P-GSCI Agricultural Excess Return Index™, Standard & Poor's®, Standard & Poor's 500™, 500™, S&P 100®, Standard & Poor's 100™, S&P MidCap 400™ Index, S&P SmallCap 600™ Index, S&P 500/CITIGROUP Growth Index™,S&P 500/CITIGROUP Value Index™, Standard & Poor's 500/CITIGROUP Value Index™, S&P Energy Stock Price Index™, Standard & Poor's Energy Stock Price Index™, Standard & Poor's Financial Stock Price Index™, S&P High Technology Stock Price Index™, Standard & Poor's High Technology Stock Price Index™, S&P Public Utility Stock Price Index™, Standard & Poor's Public Utility Stock Price Index™, S&P Consumer Staple Stock Price Index™, Standard & Poor's Consumer Staple Stock Price Index™, S&P Transportation Stock Index™, Standard & Poor's Transportation Stock Price Index™, S&P Euro Index™, S&P Euro Plus Index™, S&P 500 GICS Sector Indices™, SPDR®, Standard & Poor's Depositary Receipts™, S&P Asia™, Bxy Trakrs™ are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Chicago Mercantile Exchange Inc.

RICI®, Rogers International Commodity Index®, Rogers International Commodity®, Jim Rogers™, James Rogers™, James B. Rogers™, James B. Rogers, Jr.(TM), James Beeland Rogers, Jr.(TM), Likeness of James Beeland Rogers, Jr. are trademarks of Beeland Interests, Inc. used under license. CarvillSM is a service mark of RK Carvill (International Holdings) Ltd; Carvill Hurricane IndexSM and CHISMare service marks of Carvill America Incorporated; all of which are used by CME Group under license.

Dow Jones®, DJIA®, DJGI®, The Dow™, Dow Jones CME FX$INDEX™,Dow Jones US Real Estate Index™, Dow Jones Composite Index™, Dow Jones Industrial AverageSM, Dow Jones Global Indexes®, Dow Jones UBS Commodity Index™, Dow Jones Utility Average™, Dow Jones Transportation Average™ are trademarks of Dow Jones & Company, Inc. and used under license. The futures and futures options contracts based on these indexes are not sponsored, endorsed, sold or promoted by Dow Jones, and Dow Jones makes no representation regarding the advisability of trading in such contract (s).

FTSE®, FT-SE® and Footsie™ are jointly owned by the London Stock Exchange plc and the Financial Times Limited.  is a trademark of FTSE International Limited. Xinhua and  are service marks and trademarks of Xinhua Finance Limited. All marks are licensed for use by CME. The index is calculated by or on behalf of FTSE/Xinhua Index Limited ("FXI"). FXI does not sponsor, endorse or promote this product and is not in any way connected to it and does not accept any liability in relation to its issue, operation and trading. All copyright and database rights in the index values and constituent list vests in FXI. CME has obtained full license from FXI to use such copyrights and database rights in the creation of this product.

CASA®, CSW®, Case-Shiller®, Hometrics™, Homeeppraisal™, REDEX®, Case Shiller Indexes ™, Case Shiller Weis (and variants) are trademarks of Fiserv/CSW and/or Macro Securities Research, LLC, which with its affiliates are sub-licensed for use by Chicago Mercantile Exchange Inc. By publishing the Index and licensing its trademarks for use in connection therewith, MSR in no way implies a determination as to the legality, suitability or attractiveness of the Product(s) for investment purposes. The Products are not listed, sold, or promoted by MSR. MSR makes no warranties whatsoever and bears no liability with respect to the Products or the Index on which the Products are based.

NIKKEI® is a trademark of Nihon Keizai Shimbum used under license.

COMMODITYREALRETURN™, PIMCO REAL RETURN COLLATERAL INDEX™ and PIMCO® are trademarks of Pacific Investment Management Company LLC used under license.

Each of the SGI Wise US Indices is the sole and exclusive property of Societe Generale. "Societe Generale" and "SGI WISE US Indices" are trademarks of Societe Generale and have been licensed for use for certain purposes by CME Group. CME Group's Custom Index Futures based on the SGI Wise US Indices are not sponsored, endorsed, sold or promoted Societe Generale, and Societe Generale makes no representation regarding the advisability of trading in such futures.

CME Group and Societe Generale do not guarantee the accuracy and/or the completeness of the composition, calculation, dissemination and adjustment of the SGI Wise US Indices, any products based thereon, nor of the data included therein.

CME Group and Societe Generale shall have no liability for any errors, omissions, interruptions or delays relating to any of the SGI Wise US Indices and any products based thereon.

CME Group and Societe Generale make no warranty, whether express or implied, relating to (i) the merchantability or fitness for a particular purpose of the SGI Wise US Indices and any products based thereon, and (ii) the results of the use of the SGI Wise US Indices or any data included therein. CME Group and Societe Generale shall have no liability for any losses, damages, costs or expenses (including loss of profits) arising, directly or indirectly, from of the use of the SGI Wise US Indices, any products based thereon or any data included therein.

The levels of the SGI Wise US Indices do not represent a valuation or a price for any product referencing any such index.

Societe Generale has contracted with Standard & Poors' ("S&P") to maintain and calculate the SGI Wise US Indices. S&P shall have no liability for any errors or omissions in calculating the SGI Wise Indices. The S&P 500® Index is the exclusive exclusive property of S&P. The S&P 500® index has been licensed for use by Societe Generale in connection with the SGI Wise US Indices. "Calculated by S&P Custom Indices" and its related stylized design are trademarks of the McGraw-Hill Companies, Inc. and have been licensed for use by Societe Generale.

A summary of the Index rules for each of the SGI Wise US Indices is available online on the webpage http://www.sg-structuredproducts.com/societe-generale-index/wise, or if not online, upon written request made to Societe Generale.

DatavisionSM, CMA DatavisionSM and SM are service marks of Credit Market Analysis ("CMA") and have been licensed by the CBOT. The CBOT index futures and futures options are not sponsored, endorsed or sold by CMA, and CMA makes no representation regarding the advisability of investing in such products.

FIXSM ,FASTSM and FIX/FASTSM are trademarks of FIX Protocol Limited.

LIFFE CONNECT® is a trademark of LIFFE Administration and Management and is used with permission PIX NBSKP™ Europe Index is a trademark of FOEX Indexes Oy Company used under license. Pivot Instant Markets™ is a registered trademark of Pivot, Inc.

VolX is a trademark of the VolX Group Corporation in the U.S. and other countries. VolContracts™, 1Vol™, and 3Vol™ are trademarks of the Volatility Exchange Corporation in the U.S. and other countries.

Copyright

Except as otherwise noted, the content of CMEGroup.com, including but not limited to text, graphics and icons, are copyrighted materials of CME Group and contain trademarks, service marks and trade names of the CME Group and/or its affiliates and licensors. ALL RIGHTS RESERVED. You may use the content to learn about, evaluate or acquire services or products of the CME Group. You may not copy or display for redistribution to third parties for commercial purposes any portion.

Except as otherwise noted, the content of CMEGroup.com, including but not limited to text, graphics and icons, are copyrighted materials of CME Group and contain trademarks, service marks and trade names of the CME Group and/or its affiliates and licensors. ALL RIGHTS RESERVED. You may use the content to learn about, evaluate or acquire services or products of the CME Group. You may not copy or display for redistribution to third parties for commercial purposes any portion of the content without the prior written permission of the CME Group.

© 2013 CME Group. All rights reserved.

Notice

While CME Group strives to provide accurate and timely information, there may be inadvertent inaccuracies, errors and omissions, for which we apologize. We reserve the right to make changes and corrections at any time, without notice.

The content is provided "AS IS," "AS AVAILABLE." CME Group does not warrant the accuracy or completeness of the information, text, graphics, links, or other items contained on the site, and CME Group expressly disclaims liability for errors or omissions in these materials. CME Group makes no commitment to update the information contained on the site.

CME Group expressly disclaims all liability for the use or interpretation by others of information contained in cmegroup.com. Decisions based on information contained on cmegroup.com are the sole responsibility of the visitor, and in exchange for using cmegroup.com the visitor agrees to hold the CME Group and its affiliates and licensors harmless against any claims for damages arising from any decisions that the visitor makes based on such information. Nothing contained on cmegroup.com constitutes investment advice, nor does it constitute the solicitation of the purchase or sale of any futures or options.

DHTML menu code was used, in part, in the creation of the graphic user interface on this site. This code is used with the permission of Peter Belesis and internet.com Corp, Copyright© 2000. All rights reserved. For further information about DHTML code, or internet.com Corp, please see: http://www.dhtmlab.com/.

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Any information, including but not limited to remarks, suggestions, ideas, graphics or other submissions, communicated to CME Group through this site is the exclusive property of the CME Group. CME Group is entitled to use any information submitted for any purpose without restriction or compensation to the person sending the submission. The user acknowledges the originality of any submission communicated to CME Group and accepts responsibility for its accuracy, appropriateness and legality.

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CME Group is not responsible for technical, hardware or software failures of any kind; lost or unavailable network connections; incomplete, garbled or delayed computer transmissions. Under no circumstances will CME Group or its suppliers be liable for any damages or injury that results from the use of the materials on this site. Some jurisdictions prohibit the exclusion or limitation of liability for consequential or incidental damages, in which case the above limitation may not apply to you.

The materials on this site are provided "as is" and without warranties of any kind to the fullest extent permissible pursuant to applicable laws.

CME DataSuite Applications are intended for marketing purposes only, and CME Group does not guarantee the accuracy or the timeliness of the data provided.

The site www.cmegroup.com and its related domains link to other companies' sites that are not maintained by CME Group. CME Group does not endorse those sites and is not responsible for the content of such other sites.

Enforcement of Terms and Conditions

These terms and conditions are governed and interpreted pursuant to the laws of the State of Illinois, United States of America, notwithstanding any principles of conflicts of law. If any part of these terms and conditions is unlawful, void or unenforceable, that part will be deemed severable and will not affect the validity and enforceability of remaining provisions. CME Group can revise these terms and conditions at any time by updating this site.

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