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Expiration Schedule for Binary Options on the Target Fed Funds Rate

Effective for trade date Thursday, September 18, 2008, the CME Group shall list for trading Binary Options on the Target Federal Funds Rate ("Fed Binaries") that expire in March 2009.

The following table summarizes expiration months, last trading days, and expiration days for Fed Binaries listed for trading as of 18 September 2008:

Expiration Month Last Trading Day & Expiration
October 2008 30 October 2008
December 2008 17 December 2008
January 2009 29 January 2009
March 2009 18 March 2009

The schedule for last trading day and expiration of Fed Binaries is governed by CBOT Rule 22B01.I.:

22B01.I. 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 (Rule 22B01.A.).

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:

Daniel Grombacher 312-435-3787 daniel.grombacher@cmegroup.com
Jeff Kilinski 312-648-3871 jeff.kilinski@cmegroup.com
Frederick Sturm 312-347-5235 fredrick.sturm@cmegroup.com
James Boudreault 312.930.3247 james.boudreault@cmegroup.com

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