News Release

February 2005 Volume

Tue Feb 01 2005

CME Reports Record Average Daily Volume Approaching 3.8 Million Contracts in February, Up 50 Percent From Prior-Year Period and Beating the All-Time High Set in January 2005CME® Globex® Volume Increased 106 Percent vs. February 2004 CHICAGO, March 1, 2005 - CME, the largest U.S. futures exchange, today reported that total volume for February approached 3.8 million contracts per day, up 50 percent from the same period a year ago and marking an all-time record month. Average daily volume on the exchange’s CME® Globex® electronic trading platform, was 2.5 million contracts, a 106 percent increase from February 2004. Electronic trading represented 66 percent of total CME volume in February, compared with 48 percent in the prior-year period. CME total interest rate volume was 2.3 million contracts per day in February, up 78 percent from the same period a year ago. This increase was driven by electronic CME Eurodollar futures, which represented 77 percent of total Eurodollar volume in February compared with 15 percent in February 2004. Electronic CME Eurodollar futures averaged 1.2 million contracts per day in February. Average daily volume of CME foreign exchange (FX) products was 266,000 contracts, representing notional value of $35 billion per day and an increase of 49 percent compared to February 2004. During the month, electronic foreign exchange products increased 83 percent from the same period one year ago to reach 210,000 contracts per day. Trading in CME E-mini™ equity index products averaged 1.1 million contracts per day in February, up 16 percent versus the same period last year. Open interest for all CME products at the end of February was at an all-time high, above 40 million contracts, including 9 million Total Return Asset ContractsTM (TRAKRS). Additionally, the Chicago Board of Trade (CBOT) had approximately 11.7 million open positions at the CME Clearing House in February. Open interest represents the number of contract positions which are not closed out at the end of a trading session. CBOT’s average daily volume in February was over 3.2 million contracts per day, up 40 percent from February 2004. “February was another record volume month for CME and had the highest year-over-year growth that we have seen in recent history,” said CME Chairman Terry Duffy. “Across the board, our volumes grew in all product lines. Electronic trading on CME Globex has doubled since this time last year and open interest reached a new record high of 29.1 million positions on February 17. Looking ahead, we expect to continue benefiting from the ongoing growth trends within the industry as we redouble our efforts to reach out to new markets and attract new business to CME.” “Our long-term strategy is to leverage our scale advantage and deepen the liquidity in our products to drive revenue and profitability,” said CME Chief Executive Officer Craig Donohue. “As our strong volume in the first two months of the year demonstrates, we continue to make significant progress toward achieving that goal. In January, volume from all user segments including members, customers, and special programs increased compared to the fourth quarter of 2004. Additionally, the mix of member and customer volumes during January was similar to the fourth quarter of 2004. While January was a record volume month for CME’s E-mini product line, member volume increased at a faster rate than customer volume. So far this quarter, our interest rate product line, which has our lowest average rate per contract, has contributed a higher proportion of the total volume. Therefore, we expect the average rate per contract in the first quarter to come in slightly below the average rate per contract of 70.3 cents reported in the fourth quarter.” CME AVERAGE DAILY VOLUME (In Thousands) February 2005 February 2004 Percentage Change PRODUCT GROUP Interest Rates 2,256 1,268 78% E-Mini’s 1,105 953 16% Equity Standard 101 82 24% Foreign Exchange 266 178 49% Commodities 43 32 35% Sub Total 3,772 2,513 50% TRAKRS 28 48 -41% Total 3,800 2,561 48% VENUE Open Outcry 1,239 1,271 -3% GLOBEX (Ex TRAKRS) 2,489 1,208 106% Privately Negotiated 44 34 27% Monthly Volume Reports Chicago Mercantile Exchange Inc. ( is the largest futures exchange in the United States. As an international marketplace, CME brings together buyers and sellers on CME Globex® electronic trading platform and on its trading floors. CME offers futures and options on futures primarily in four product areas: interest rates, stock indexes, foreign exchange and commodities. The exchange moved about $1.5 billion per day in settlement payments in 2004 and managed $44.1 billion in collateral deposits at Dec. 31, 2004, including $3.1 billion in deposits for non-CME products. CME is a wholly owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (NYSE: CME), which is part of the Russell 1000® Index. Statements in this news release relating to our average rate per contract that are not historical facts are forward-looking statements. These statements are based upon currently available financial data and current expectations about the level of trading activity and the trading privileges of the customers making the trades. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results, including our actual average rate per contract, may differ materially from what is expressed or implied in any forward-looking statements. 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 can be obtained at its Web site at We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Chicago Mercantile Exchange, CME and Globex are registered trademarks of Chicago Mercantile Exchange Inc. E-mini is a trademark of CME. TRAKRS, Total Return Asset Contracts and other trade names, service marks, trademarks and registered trademarks that are not proprietary to Chicago Mercantile Exchange Inc. are the property of their respective owners, and are used herein under license.

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