News Release

CME Group Inc. Reports Strong Third-Quarter Revenues and Profits

Wed Oct 24 2007

CHICAGO, Oct. 24 /PRNewswire-FirstCall/ -- CME Group Inc. (NYSE: CME)(NASDAQ: CME) today reported total revenues increased 106 percent to $565 million and net income increased 94 percent to $202 million for third-quarter 2007 compared with third-quarter 2006. Diluted earnings per share rose 31 percent to $3.87 from $2.95. These GAAP results include the operations of the predecessor to CME Group, Chicago Mercantile Exchange Holdings Inc. (CME), for the full quarter, the results of the Chicago Board of Trade (CBOT) after July 12, 2007 when the merger between CME and CBOT closed, $20 million in merger-related operating expenses, and $28.5 million of non-operating expense associated with the ERP guarantee. The comparative results for 2006 reflect the operations of CME only.

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Pro forma non-GAAP diluted earnings per share in the third quarter were $4.31, a 68 percent increase from $2.56 in the third-quarter 2006. Third-quarter 2007 pro forma results exclude merger-related costs consisting of restructuring charges, integration and legal costs, acceleration of depreciation related to CBOT data centers, and include CBOT operating results for the full third quarter. The pro forma comparative results for 2006 reflect the operating results of both CME and CBOT as if they were combined. Using this methodology, total pro forma revenues were $585 million, a 41 percent increase compared with the same period a year ago, and pro forma net income was $236 million, a 68 percent increase. Pro forma measures do not replace and are not a substitute for GAAP financial results, but are provided to improve overall understanding of current financial performance and to provide a meaningful comparison to prior periods. A full reconciliation of these pro forma results is included in the attached tables.

"CME Group finished a record quarter with an unprecedented volume increase of nearly 50 percent," said CME Group Executive Chairman Terry Duffy. "Our successful merger with the Chicago Board of Trade has positioned us as a leader in all major asset classes, and we saw robust growth in our agricultural, equity index, foreign exchange and interest rate products, as well as in our energy and metals derivatives processing business. Looking ahead, we are intensely focused on successfully completing our integration with CBOT and serving our expanding customer base around the world."

"In addition to delivering outstanding third-quarter results, we are building on our robust core business by serving customers in over-the-counter derivatives markets and launching innovative new products across existing and new asset classes," said CME Group Chief Executive Officer Craig Donohue. "We also are poised to drive further growth through expanding our global distribution and processing capabilities, as exemplified by our proposed agreements with the Brazilian Mercantile & Futures Exchange, the largest derivatives exchange in South America, and the Korea Exchange, a premier capital marketplace for Northeast Asia."

All references to volume and rate per contract information in the text of this document exclude our non-traditional TRAKRS products, for which CME Group receives significantly lower clearing fees than other CME Group products, CME Group Auction Markets products, which were available to trade prior to July 2007, and Swapstream products.

  CME Group Inc. Third-Quarter 2007 Results

  Financial Highlights:

  GAAP
  ----
  ($s in millions,     Q3 FY07   Q3 FY06   Y/Y  YTD FY07  YTD FY06  Y/Y
   except per share)   -------   -------   ---  --------  --------  ---
  Revenues              $565     $275      106%  $1,227      $809   52%
  Expenses              $220     $118       87%    $489      $346   41%
  Operating Income      $345     $157      120%    $738      $463   59%
  Operating Margin %    61.0%    57.2%             60.2%     57.2%
  Net Income            $202     $104       94%    $457      $305   50%
  Diluted EPS          $3.87    $2.95       31%  $11.18     $8.68   29%



  Pro Forma Non-GAAP
  ------------------
  ($s in millions,     Q3 FY07   Q3 FY06   Y/Y  YTD FY07  YTD FY06  Y/Y
   except per share)   -------   -------   ---  --------  --------  ---
  Revenues              $585     $414       41%  $1,593    $1,204   32%
  Expenses              $211     $197        7%    $631      $589    7%
  Operating Income      $375     $216       73%    $962      $615   56%
  Operating Margin %    64.0%    52.3%             60.4%     51.1%
  Net Income            $236     $141       68%    $615      $399   54%
  Diluted EPS          $4.31    $2.56       68%  $11.19     $7.26   54%

  NOTE: See the CME Group Inc. Reconciliation of Pro Forma Non-GAAP to GAAP
        Measures for detail related to the adjustments made to reach the pro
        forma results.



  Pro Forma Non-GAAP Financial Results Detail

Third-quarter 2007 volume averaged a record 12.7 million contracts per day, up 49 percent, assuming combined CME/CBOT volumes for the entire quarter. Total quarterly volume exceeded 798 million contracts, of which 77 percent traded electronically. This strong volume drove $496 million of CME Group clearing and transaction fee revenue, an increase of 46 percent from $340 million in third-quarter 2006, assuming the CME and CBOT were combined at that time. The pro forma average rate per contract was $0.622 for the quarter compared with $0.632 in the third quarter of 2006. This 2 percent rate decrease was primarily driven by volume discounts due to significantly higher volumes.

Keeping in mind that the historical CME clearing business revenue and related CBOT expense are excluded from the pro-forma non-GAAP results, CME Group processing services revenue for the combined company tripled from $5 million to $15 million. The third quarter was the fifth consecutive record quarter of NYMEX volume on CME Globex. Additionally, quotation data fees were up 12 percent to $49 million.

Total pro forma expenses increased 7 percent to $211 million. The majority of this increase was driven by an increase in volume-related expenses including license fees and the bonus component of compensation, which is tied to performance.

Third-quarter operating income on a combined pro forma basis was $375 million, an increase of 73 percent from $216 million for the year-ago period. The company's operating margin was 64 percent compared with 52 percent for the same period last year. Operating margin is defined as operating income as a percentage of total revenues.

CME Group will hold a conference call to discuss third-quarter results at 8:30 a.m. Eastern Time today. A live audio Webcast of the call will be available on the Investor Relations section of CME Group's Web site at http://www.cmegroup.com/. An archived recording will be available for up to two months after the call.

CME Group (http://www.cmegroup.com/) is the world's largest and most diverse exchange. Formed by the 2007 merger of the Chicago Mercantile Exchange Holdings Inc. (CME) and CBOT Holdings, Inc. (CBOT), CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on its trading floors. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, agricultural commodities, and alternative investment products such as weather and real estate. CME Group is traded on the New York Stock Exchange and NASDAQ under the symbol "CME".

The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex and E-mini, are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. TRAKRS and Total Return Asset Contracts are trademarks of Merrill Lynch & Co., Inc. These trademarks are used herein under license. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at http://www.cmegroup.com/.

Statements in this news release that are not historical facts are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. Among the factors that might affect our performance are: our ability to successfully integrate the businesses of CME Holdings and CBOT Holdings, including the fact that such integration may be more difficult, time consuming or costly than expected and revenues following the merger may be lower than expected; increasing competition by foreign and domestic entities, including increased competition from new entrants into our markets and consolidation of existing entities; our ability to keep pace with rapid technological developments, including our ability to complete the development and implementation of the enhanced functionality required by our customers; our ability to continue introducing competitive new products and services on a timely, cost-effective basis, including through our electronic trading capabilities, and our ability to maintain the competitiveness of our existing products and services; our ability to adjust our fixed costs and expenses if our revenues decline; our ability to continue to generate revenues from our processing services provided to third parties; our ability to maintain existing customers and attract new ones; our ability to expand and offer our products in foreign jurisdictions; changes in domestic and foreign regulations; changes in government policy, including policies relating to common or directed clearing; the costs associated with protecting our intellectual property rights and our ability to operate our business without violating the intellectual property rights of others; our ability to generate revenue from our market data that may be reduced or eliminated by the growth of electronic trading; changes in our rate per contract due to shifts in the mix of the products traded, the trading venue and the mix of customers (whether the customer receives member or non-member fees or participates in one of our various incentive programs) and the impact of our tiered pricing structure; the ability of our financial safeguards package to adequately protect us from the credit risks of clearing members; changes in price levels and volatility in the derivatives markets and in underlying fixed income, equity, foreign exchange and commodities markets; economic, political and market conditions; our ability to accommodate increases in trading volume and order transaction traffic without failure or degradation of performance of our systems; our ability to execute our growth strategy and maintain our growth effectively; our ability to manage the risks and control the costs associated with our acquisition, investment and alliance strategy; our ability to continue to generate funds and/or manage our indebtedness to allow us to continue to invest in our business; industry and customer consolidation; decreases in trading and clearing activity; the imposition of a transaction tax on futures and options on futures transactions; and the seasonality of the futures business. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, including our most recent Quarterly Report on Form 10-Q, which is available in the Investor Relations section of the CME Group Web site. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

                     CME Group Inc. and Subsidiaries
                       Consolidated Balance Sheets
                          (dollars in thousands)

                                       September 30, 2007 December 31, 2006
                                       ------------------ -----------------
  ASSETS
  Current Assets:
       Cash and cash equivalents                 $677,034          $969,504
       Collateral from securities
        lending                                 2,543,648         2,130,156
       Marketable securities, including
        pledged securities                        220,516           269,516
       Accounts receivable, net of
        allowance                                 198,853           121,128
       Other current assets                        68,275            37,566
       Cash performance bonds and
        security deposits                         746,990           521,180
                                                ---------         ---------
  Total current assets                          4,455,316         4,049,050
  Property, net of accumulated
   depreciation and amortization                  347,910           168,755
  Intangible assets - trading products          7,937,000                 -
  Intangible assets - other, net of
   accumulated amortization                     1,809,316            12,776
  Goodwill                                      5,044,081            11,496
  Other assets                                    106,051            64,428
                                                ---------         ---------
  Total Assets                                $19,699,674        $4,306,505
                                              ===========        ==========

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Current Liabilities:
       Accounts payable                           $52,823           $25,552
       Payable under securities lending
        agreements                              2,543,648         2,130,156
       Short-term debt                            164,675                 -
       Other current liabilities                  192,513            78,466
       Cash performance bonds and
        security deposits                         746,990           521,180
                                                ---------         ---------
  Total current liabilities                     3,700,649         2,755,354
  Deferred tax liabilities                      3,796,699                 -
  Other liabilities                                90,931            32,059
                                                ---------         ---------
  Total Liabilities                             7,588,279         2,787,413
  Shareholders' equity                         12,111,395         1,519,092
                                                ---------         ---------
  Total Liabilities and Shareholders'
   Equity                                     $19,699,674        $4,306,505
                                              ===========        ==========



                     CME Group Inc. and Subsidiaries
                    Consolidated Statements of Income
                 (in thousands, except per share amounts)

                                        Quarter Ended     Nine Months Ended
                                        September 30,       September 30,
                                      2007      2006      2007       2006
                                    -------   --------  --------   --------
  Revenues
       Clearing and transaction
        fees                        $477,839  $216,999   $988,803  $646,315
       Quotation data fees            45,821    20,057     95,163    60,736
       Processing services            17,981    23,910     90,300    62,219
       Access and communication
        fees                          10,325     7,328     25,345    21,480
       Building and other             13,256     6,411     26,951    17,881
                                     -------   -------    -------   -------
       Total Revenues                565,222   274,705  1,226,562   808,631

  Expenses
       Compensation and benefits      78,462    51,159    191,591   149,051
       Communications                 12,044     7,691     29,973    23,484
       Technology support services    15,747     8,459     33,284    23,377
       Professional fees and
        outside services              15,046     7,178     36,328    24,457
       Amortization of purchased
        intangibles                   15,963       324     16,591       798
       Depreciation and
        amortization                  32,872    18,609     72,661    53,592
       Occupancy and building
        operations                    14,647     7,731     32,835    22,202
       Licensing and other fee
        agreements                    11,471     6,394     25,300    19,255
       Restructuring                   4,512         -      4,512         -
       Marketing and other            19,443    10,123     45,620    29,648
                                     -------   -------    -------   -------
       Total Expenses                220,207   117,668    488,695   345,864

  Operating Income                   345,015   157,037    737,867   462,767

  Non-Operating Income and Expense
       Investment income              21,088    14,654     57,787    38,789
       Securities lending interest
        income                        23,150    19,343     91,560    70,439
       Securities lending interest
        expense                      (21,350)  (18,943)   (88,106)  (68,809)
       Interest expense               (1,420)      (75)    (1,444)     (167)
       Guarantee of exercise right
        privileges                   (28,500)        -    (28,500)        -
       Equity in losses of
        unconsolidated subsidiaries   (3,663)   (1,502)   (10,054)   (2,110)
                                     -------   -------    -------   -------
       Total Non-Operating           (10,695)   13,477     21,243    38,142

  Income Before Income Taxes         334,320   170,514    759,110   500,909

  Income tax provision              (132,748)  (66,714)  (301,635) (196,163)
                                     -------   -------    -------   -------
  Net Income                        $201,572  $103,800   $457,475  $304,746
                                    ========  ========   ========  ========

  Earnings per Common Share:
       Basic                           $3.90     $2.99     $11.28     $8.79
       Diluted                         $3.87     $2.95     $11.18     $8.68

  Weighted Average Number of Common
   Shares:
       Basic                          51,748    34,749     40,556    34,657
       Diluted                        52,103    35,153     40,920    35,098



                     CME Group Inc. and Subsidiaries
           Pro Forma Non-GAAP Consolidated Statements of Income
                 (in thousands, except per share amounts)

                                    Quarter Ended       Nine Months Ended
                                     September 30,        September 30,
                                    2007      2006       2007       2006
                                  --------  --------   --------   --------
  Revenues
       Clearing and transaction
        fees                      $496,192  $340,167  $1,328,362   $993,054
       Quotation data fees          48,958    43,765     147,558    134,373
       Processing services          15,250     5,239      42,313      6,035
       Access and communication
        fees                        10,325     9,120      28,605     26,685
       Building and other           14,486    15,368      46,618     44,134
                                   -------   -------     -------    -------
       Total Revenues              585,211   413,659   1,593,456  1,204,281

  Expenses
       Compensation and benefits    80,605    71,307     235,020    209,648
       Communications               12,798    13,010      38,256     36,880
       Technology support
        services                    16,545    16,423      49,682     47,379
       Professional fees and
        outside services            11,414    10,838      34,775     36,605
       Amortization of purchased
        intangibles                 17,237    16,652      51,476     49,849
       Depreciation and
        amortization                30,328    32,280      93,428     96,138
       Occupancy and building
        operations                  15,199    12,012      43,381     36,747
       Licensing and other fee
        agreements                  11,740     9,172      32,173     27,804
       Marketing and other          14,766    15,526      52,956     48,267
                                   -------   -------     -------    -------
       Total Expenses              210,632   197,220     631,147    589,317

  Operating Income                 374,579   216,439     962,309    614,964

  Non-Operating Income and
   Expense
       Investment income            21,869    20,036      71,948     52,017
       Securities lending
        interest income             23,150    19,342      91,560     70,438
       Securities lending
        interest expense           (21,350)  (18,943)    (88,106)   (68,809)
       Interest expense             (1,427)     (379)     (1,689)    (1,444)
       Equity in losses of
        unconsolidated
        subsidiaries                (3,747)   (1,842)    (10,824)    (2,933)
                                   -------   -------     -------    -------
       Total Non-Operating          18,495    18,214      62,889     49,269

  Income Before Income Taxes       393,074   234,653   1,025,198    664,233

  Income tax provision            (157,230)  (93,861)   (410,079)  (265,693)
                                   -------   -------     -------    -------
  Net Income                      $235,844  $140,792    $615,119   $398,540
                                  ========  ========    ========   ========

  Earnings per Diluted Common
   Share                             $4.31     $2.56      $11.19      $7.26

  Weighted Avg. Number of Diluted
   Common Shares*                   54,693    54,977      54,948     54,917

  Note:  Pro Forma Non-GAAP results exclude merger-related costs and include
         CBOT operating results for the full quarter.  The pro forma
         comparative results for 2006 reflect both the operating results for
         CME and CBOT as if they were combined.  See CME Group Inc.
         Reconciliation of Pro Forma Non-GAAP to GAAP Measures for detail on
         the adjustments made to reach the pro forma results.

  *Weighted average number of diluted common shares includes CBOT sharecount
   for the entire period reported.



                     CME Group Inc. and Subsidiaries
          Reconciliation of Pro Forma Non-GAAP to GAAP Measures
                              (in thousands)

                                    Quarter Ended        Nine Months Ended
                                     September 30,        September 30,
                                    2007      2006       2007        2006
                                 --------  --------    --------    --------
  GAAP Results
  Revenues                       $565,222  $274,705  $1,226,562    $808,631
  Expenses                        220,207   117,668     488,695     345,864
                                  -------   -------     -------     -------
  Operating Income                345,015   157,037     737,867     462,767

  Non-Operating Income and
   Expense                        (10,695)   13,477      21,243      38,142
                                  -------   -------     -------     -------
  Income before income taxes      334,320   170,514     759,110     500,909
  Income tax provision           (132,748)  (66,714)   (301,635)   (196,163)
                                  -------   -------     -------     -------
       Net Income                $201,572  $103,800    $457,475    $304,746
                                 ========  ========    ========    ========


  Pro Forma Adjustments
  Revenues:
  CBOT premerger revenue          $22,720  $157,625    $414,881    $451,834
  Common clearing service
   elimination (1)                 (2,731)  (18,671)    (47,987)    (56,184)
                                  -------   -------     -------     -------
  Total Pro Forma Revenue
   Adjustment                      19,989   138,954     366,894     395,650

  Expenses:
  CBOT premerger expense           11,247    81,866     219,296     251,602
  Common clearing service
   elimination (1)                 (2,731)  (18,671)    (47,987)    (56,184)
  Amortization of intangibles (2)   2,111    16,357      34,825      49,071
  Other (3)                       (20,202)        -     (63,682)     (1,036)
                                  -------   -------     -------     -------
  Total Pro Forma Expense
   Adjustment                      (9,575)   79,552     142,452     243,453
                                  -------   -------     -------     -------

  Adjustment to Operating Income   29,564    59,402     224,442     152,197

  Non-Operating Income and
   Expense:
  CBOT premerger non-operating
   income                             690     4,737      13,146      11,127
  Other (4)                        28,500         -      28,500           -
                                  -------   -------     -------     -------
  Total Pro Forma Non-Operating
   Income and Expense Adjustment   29,190     4,737      41,646      11,127
                                  -------   -------     -------     -------
  Adjustment to income before
   income taxes                    58,754    64,139     266,088     163,324
  Adjustment to income tax
   provision (5)                  (24,482)  (27,147)   (108,444)    (69,530)
                                  -------   -------     -------     -------
       Adjustment to Net Income   $34,272   $36,992    $157,644     $93,794
                                 ========  ========    ========    ========


  Pro Forma Non-GAAP Results
  Revenues                       $585,211  $413,659  $1,593,456  $1,204,281
  Expenses                        210,632   197,220     631,147     589,317
                                  -------   -------     -------     -------
  Operating Income                374,579   216,439     962,309     614,964

  Non-Operating Income and
   Expense                         18,495    18,214      62,889      49,269
                                  -------   -------     -------     -------
  Income before income taxes      393,074   234,653   1,025,198     664,233
  Income tax provision           (157,230)  (93,861)   (410,079)   (265,693)
                                  -------   -------     -------     -------
       Net Income                $235,844  $140,792    $615,119    $398,540
                                 ========  ========    ========    ========

  Notes:
  (1)  Eliminate clearing services provided to CBOT prior to the merger.
  (2)  Add amortization of intangible assets recorded in purchase of CBOT.
  (3)  Reverse effect of  restructuring, accelerated depreciation,
       integraton and legal expenses related to the merger with CBOT.  Also
       includes CBOT merger-related transaction costs that were expensed.
  (4)  Reverse impact of exercise right guarantee associated with CBOT
       merger.
  (5)  Adjust income taxes to arrive at an average effective tax rate of 40%
       on pro forma income.



                              CME Group Inc.
                      Pro Forma Operating Statistics

                               Trading Days

                                     3Q 2006 4Q 2006 1Q 2007 2Q 2007 3Q 2007
                                     ------- ------- ------- ------- -------
  Trading Days                            63      63      62      64      63

                        Average Daily Volume (ADV)
     (in thousands, average daily volumes combined for entire period)

  Product Line                       3Q 2006 4Q 2006 1Q 2007 2Q 2007 3Q 2007
  ------------                       ------- ------- ------- ------- -------
  Interest Rates                       5,655   5,470   6,671   6,670   8,060
  Equity E-mini                        1,667   1,700   2,107   2,127   3,057
  Equity standard-size                   161     156     197     180     202
  Foreign Exchange                       423     508     555     527     635
  Commodities & Alternative
   Investments                           624     748     789     818     716
                                       -----   -----   -----   -----   -----
       Total                           8,530   8,581  10,320  10,322  12,670

  TRAKRS                                 116     294     145      98     114

  Venue
  -----
  Open outcry                          2,367   2,106   2,312   2,297   2,652
  Electronic (excluding TRAKRS)        6,033   6,342   7,846   7,838   9,806
  Privately negotiated                   130     133     162     188     212
                                       -----   -----   -----   -----   -----
       Total                           8,530   8,581  10,320  10,322  12,670


                     Average Rate Per Contract (RPC)
     (in thousands, rate per contract generated from combined average
                     daily volumes for entire period)

  Product Line                       3Q 2006 4Q 2006 1Q 2007 2Q 2007 3Q 2007
  ------------                       ------- ------- ------- ------- -------
  Interest Rates                      $0.528  $0.536  $0.519  $0.516  $0.519
  Equity E-mini                        0.717   0.714   0.712   0.700   0.673
  Equity standard-size                 1.303   1.385   1.387   1.334   1.451
  Foreign Exchange                     1.146   1.085   1.106   1.090   0.951
  Commodities & Alternative
   Investments                         0.832   0.938   0.952   1.034   1.032
                                       -----   -----   -----   -----   -----
       Average RPC (excluding
        TRAKRS)                       $0.632  $0.654  $0.640  $0.639  $0.622

  TRAKRS                               0.033   0.019   0.020   0.028   0.023

  Venue
  -----
  Open outcry                         $0.493  $0.516  $0.498  $0.492  $0.473
  Electronic (excluding TRAKRS)        0.629   0.642   0.630   0.626   0.613
  Privately negotiated                 3.315   3.389   3.130   2.948   2.878

  Note:  All volume and rate per contract data is based upon pro forma
         results.  Aside from the rows specifically titled "TRAKRS", all
         data excludes our non-traditional TRAKRS products, for which CME
         Group receives significantly lower clearing fees than other CME
         Group products. Additionally, all data excludes Swapstream products
         and CME Group Auction Markets products while the CME Group Auction
         Market products were available prior to July 2007.

CME-E

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