Over the next two months, we will implement a new, improved, fully integrated trade management system, called Front End Clearing (FEC), which will be available via the CME Portal. This system will ultimately replace the existing 3270 applications (GLOBEX Matched Trades (GB2), GUS, APS, TES, etc.), with one set of screens, so that firm staff will no longer need to "jump" from one application to another. It is being designed to accommodate all current and future CME product offerings. It will be easy to use, flexible, and provide firms with the information necessary to effectively complete back-office transactions related to CME's clearing process.

The introduction of this new web-based application will be done incrementally over a period of time. The first phase will replace the current GLOBEX Matched Trade Inquiry screens (GB2) in 3270 in late May.

To help ensure a successful implementation, we will be conducting a series of Front - End Clearing seminars. The 2^nd seminar will be on Thursday, April 18, 2002 at 9:00AM in the Auditorium.

In addition, any firms interested in testing the new system should reply via e-mail by April 30, 2002.

If you plan on attending the seminar or have any questions please contact Farris Oweimrin of the Client Management Department at (312) 648-4780 or email at foweimri@cme.com. Thank you!