In a press release dated July 20, 2006, the Federal Open Market Committee (FOMC) announced that the October 2006 FOMC meeting will be expanded to two days (October 24 and 25) rather than one day (October 24) as previously had been scheduled.  This FOMC press release further indicates that any announcement of a policy change based on the October 2006 meeting will occur at approximately 2:15 p.m. (Eastern Time) on October 25.

Notwithstanding this FOMC scheduling change, CBOT^® October 2006 Binary Options on the Target Federal Funds Rate will retain the October 24, 2006 expiration date which was established when that contract was listed for trading.  Accordingly, the October 2006 contract will be settled based upon the Target Federal Funds Rate as of October 24, 2006.  This determination is in accordance with CBOT Regulation 2009.01, which specifies, in pertinent part, as follows:

“The last day of trading for said Binary Option, so determined, shall remain fixed, notwithstanding such changes to the schedule of meetings of the FOMC as may occur after said Binary Option has been listed by the Exchange for trading.”

Questions in this regard may be directed to the following individuals in the Business Development Department:

Gene Mueller                   312.435.4681                  gmueller@cbot.com

Frederick Sturm              312.347.5235                  fsturm@cbot.com