In response to clearing firms’ requests, beginning Friday, March 2, 2007, changes will be implemented in Front End Clearing (FEC) for CBOT^® Flexible Treasury Bond and Flexible Treasury Note Options only.  With this change, the FEC deadline to submit CBOT Flexible option post-trade activity will be 4:00 p.m. Central Time.  Also, the deadline to submit CBOT Flexible option exercises, contrary instructions, PCS, and position adjustments will be 5:00 p.m. Central Time.

Also effective March 2, 2007, CBOT Flexible options only will have exercises and assignments based on a pro-rata algorithm.

The Chicago Mercantile Exchange (CME) Clearing House will update the Submitted Special Options Exercise Instruction Report at 5:00 p.m., which will include Flexible option contrary instructions, and again at 6:00 p.m. including all CBOT options products.

Clearing firms will be given the details of CBOT Flexible option Exercise/Assignment activity by 6:00 p.m. An INFOPAC/Document Direct Report (CPM651) CBOT Flexible option Exercise/Assignment notice will be made available by 6:00 p.m.

For questions or concerns, please contact the CME Clearing House at 312-207-2525 or via email to ccs@cme.com.