News Release

CME Expands Commodity Product Complex with Launch of First Electronically Traded, Cash-Settled Butter Futures Contract

Thu Aug 18 2005

Modern Dairy Markets LLC To Serve as Market Maker CHICAGO, August 18, 2005 - CME, the largest U.S. futures exchange, today announced that it will launch futures for a new dairy contract, CME Cash-Settled Butter™. The new contracts are scheduled to begin trading on Monday, September 19, 2005, and will be the exchange’s first dairy futures contract to trade exclusively on the CME® Globex® electronic trading platform. To help ensure liquidity and a continuous, transparent and competitive market in this new contract, CME has selected Modern Dairy Markets LLC as a market maker. “With this product, CME is now bringing butter contracts into the 21st century with electronic trading as well as by adapting the contract specifications to meet the needs of contemporary users,” said John Harangody, Director, CME Commodity Products. “This is a prime example of CME’s product innovation, even in well-established markets, and of our ability to meet the ever-changing needs of our customers with relevant risk management tools.” CME Cash-Settled Butter futures are designed to meet the needs of the food industry, which have exposure to butterfat risk, but do not want to risk physical delivery. The contract will also differ in that the trade unit will be 20,000 pounds of Grade AA butter versus 40,000 pounds for the existing CME Butter futures contract. The contract will be cash settled based upon the USDA monthly weighted average price in the U.S. for butter. For more information on this product, please visit 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 $1.6 billion per day in settlement payments in the first half of 2005 and managed $43.7 billion in collateral deposits at June 30, 2005, including $4.0 billion in deposits for non-CME products. CME is a wholly owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (NYSE, NASDAQ: CME), which is part of the Russell 1000® Index. 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. 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, the globe logo and CME Globex are registered trademarks of Chicago Mercantile Exchange Inc. E-mini is a trademark of CME. CLEARING 21 is a registered trademark of CME and New York Mercantile Exchange, Inc. S&P, S&P 500, NASDAQ-100, Nikkei 225, Russell 1000, Russell 2000, 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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