News Release

Barclays Capital Becomes First Bank to Offer Electronic CME Eurodollar Options

Thu Jan 12 2006

NEW YORK and CHICAGO, Jan. 12 /PRNewswire/ -- Barclays Capital, the investment banking division of Barclays PLC, and CME, the world's largest and most diverse financial exchange, announced today that CME Eurodollar options strategies functionality is now available through Barclays Capital's electronic trading system, BARX. Barclays Capital is the first bank to offer electronic execution of CME Eurodollar options on its electronic trading system.

"The addition of CME Eurodollar options strategies on BARX exemplifies Barclays Capital's commitment to electronic trading in the futures and options markets. This provides our clients with the most powerful tool to trade all CME listed strategies on the CME electronic market," said Alasdair Hodge, Managing Director, Head of Listed Futures and Options at Barclays Capital. "Our clients will greatly benefit from this additional functionality and the market transparency that comes with direct access to the CME Eurodollar options market."

"We are pleased to partner with Barclays Capital, a recognized leader in electronic trading across all markets, to offer CME Eurodollar options via the BARX trading system," said Robin Ross, Managing Director, CME Interest Rate Products. "Averaging nearly 750,000 contracts a day in 2005, CME Eurodollar options are the world's largest interest rate options market. With the tremendous distribution network and sophisticated functionality of the BARX trading system, we will be able to further extend the reach of this market. BARX clients will be able to utilize the CME® Globex® platform's cutting edge options functionality to access this huge pool of liquidity, offering real time prices from major market making participants for thousands of outright contracts and complex spread combinations."

Options on CME Eurodollar futures are the most actively traded, exchange- listed, interest rate options in the world. They are a risk management tool that provides the opportunity to limit losses while maintaining the possibility of profiting from favorable changes in futures prices. Options liquidity allows market participants to take advantage of their views on the direction of US interest rates.

CME Globex, the leading electronic trading platform for derivatives, provides customers with real-time indicative prices on more than 90,000 outright contracts and complex spread combinations. In 2005, a total of seven million CME Eurodollar options traded electronically compared to two million contracts in 2004, representing a gain of 234 percent. Barclays Capital and CME anticipate that this number will increase with the availability of CME Eurodollar options strategies on BARX.

About BARX

Barclays Capital is a leading global provider of electronic transaction solutions for institutional investors, financial institutions and corporations worldwide. Through BARX, Barclays Capital offers automated execution and other seamless electronic services for the fixed income, FX, futures, commodities and equities markets. With award-winning trading applications and flexible connectivity, BARX provides seamless electronic access to multiple liquid markets.

In November 2005, BARX was voted overall winner in the European Banking Technology Awards from Banking Technology magazine. For more information about BARX and Barclays Capital, please visit our website

About Barclays Capital

Barclays Capital is the investment banking division of Barclays Bank PLC. With a distinctive business model, Barclays Capital provides corporates, financial institutions, governments and supranational organisations with solutions to their financing and risk management needs. Barclays Capital has the support of an AA rated parent bank with a balance sheet of over 560 billion pounds Sterling. With offices in 25 countries, the firm employs over 8,000 people and has the global reach and distribution power to meet the needs of issuers and investors worldwide. For further information about Barclays Capital, please visit our website

About CME

Chicago Mercantile Exchange Inc. ( is the world's largest and most diverse financial exchange. 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 $1.4 billion per day in settlement payments in the first three quarters of 2005 and managed $43.8 billion in collateral deposits at September 30, 2005, including $3.8 billion in deposits for non-CME products. CME is a wholly owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (NYSE: CME)(NASDAQ: CME), which is part of the Russell 1000® Index.

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. Further information about CME and its products is available on the CME Web site at

SOURCE: Barclays Capital; CME

CONTACT: Media, Karina Byrne, +1-212-412-7561,, or Kristin Friel, +1-212-412-7521,, both of Barclays Capital; or Allan
Schoenberg, +1-312-930-8189, or Pamela Plehn, +1-312-930-3446, both of CME,

Web site:

Corporate Communications

+1 312 930 3434