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Expiration Schedule for Binary Options on the Target Fed Funds Rate

Effective for trade date Monday, 2 July 2007, the Chicago Board of Trade shall list for trading Binary Options on the Target Federal Funds Rate (“Fed Binaries”) that expire in December 2007.

The following table summarizes expiration months, last trading days, and expiration days for Fed Binaries listed for trading:

Expiration Month Last Trading Day & Expiration
August 2007 8 August 2007
September 2007 19 September 2007
October 2007 1 November 2007
December 2007 12 December 2007

The schedule for last trading day and expiration of Fed Binaries is governed by CBOT Regulation 2009.01:

2009.01 Last Day of Trading

The last day of trading in a Binary Option shall be the business day following the terminal day of the regularly scheduled FOMC meeting that determines the contract expiration month of said Binary Option (Regulation 2005.01 ).

The last day of trading for any given Binary Option shall be set by the Exchange on the basis of the most recently published FOMC meeting calendar as of the date that such Binary Option is listed for trading by the Exchange.

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.

Inquiries should be addressed to the Business Development Department:

Jonathan Kronstein 312-435-7162 jkronstein@cbot.com

Gene Mueller 312-435-4681 gmueller@cbot.com

Frederick Sturm 312-347-5235 fsturm@cbot.com

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