News Release

CBOT Amends Fees for Clearing, Off-Exchange Transactions and Ags on e-cbot

Wed May 31 2006

For Immediate Release

Media Contact:                                                                              Investor Contact:
Melissa Jarmel                                                                                  Debbie Koopman
312-435-7137                                                                                  312-789-8532                                                                     

CBOT Amends Fees for Clearing, Off-Exchange Transactions and Electronic Agricultural Products

CHICAGO, IL, May 31, 2006 - The Chicago Board of Trade (CBOT®) today announced it will amend its fee schedule for clearing and off-exchange transactions, as well as its exchange fees for trading Agricultural products electronically effective July 1, 2006. 

In the last two years, the CBOT made significant improvements upon market users’ overall trading experience.  The Exchange upgraded the technology and functionality of transmitting and processing transactions associated with clearing CBOT business.  While making these enhancements, the CBOT’s clearing fees remained unchanged.

CBOT President and CEO Bernard W. Dan said, “The CBOT is proud of its track record of providing enhancements to its trading environment whenever possible and investing in delivering the high-quality products and services required by our diverse customer base.  While striving to continually improve the overall CBOT trading experience, the Exchange also is examining its fee schedule in order to ensure it remains competitive with other global Exchanges within the futures industry.”

The new clearing fee at the CBOT will be $0.06, compared with the current fee of $0.05.  The new fee will apply to both members and non-members of the Exchange.  In addition, the off-exchange transaction fees being amended include Exchange for Physicals (EFP) and Exchange for Swaps (EFS) for U.S. Treasuries and other Financials and Metals, EFP and Exchange for Risk (EFR) for Agricultural products, and wholesale transaction fees on Swaps. 

Further, the CBOT has realigned exchange fees for trading Agricultural products electronically for both members and non-members. This move precedes the August 1 listing of CBOT Agricultural futures electronically during daytime trading hours, an initiative that will provide market users greater access to the CBOT’s highly liquid Agricultural markets and increased trading opportunities.

In aggregate, the adjustments described above are expected to raise the average rate per contract in the 2006 third and fourth quarter 5 percent to 8 percent compared with the average rate in the 2006 first quarter of $0.552 per contract.  The rate per contract estimate assumes that the future volume transaction mix is similar to the mix experienced year-to-date.  The average rate per contract represents total exchange and clearing fee revenue divided by total reported trading volume. 

View the new fee schedule in its entirety.

About the CBOT
As one of the leading global derivative exchanges, the Chicago Board of Trade provides a diverse mix of financial, equity and commodity futures and options-on-futures products.  Building on its 158-year history, the CBOT continues to advance into the future using the strength of deep liquidity, market integrity and member-trader expertise.  Using superior trading technology in both electronic and open-auction trading platforms, the CBOT provides premier customer service to risk managers and investors worldwide. 

Forward Looking Statements
In this release, our use of the words “may,” “should,” “could,” “expects,” “plans,” “anticipates,” “believes,” “predicts,” “potential” or “continue” or other comparable terminology is intended to identify 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 filings made by CBOT Holdings, Securities and Exchange Commission, which can be obtained at its website at We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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