Client Management Advisory Notice

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From Client Management Operations
Subject Special Executive Report S-3907: Amendments to Rule 541 - Imposing Top-Step Restriction On Back Month Eurodollar Futures - Effective Tuesday, February 18, 2003.
Effective Date 02/07/03
Notice Number CMO#0346

As previously indicated in CME Update 02-11, dated November 11, 2002, the Board of Directors recently approved amendments to Rule 541.- TRADING RESTRICTIONS RESPECTING THE S&P 500 STOCK PRICE INDEX FUTURES CONTRACT AND THE EURODOLLAR FUTURES BACK 36 CONTRACT MONTHS imposing the top step restriction on the Eurodollar futures back 36 contract months (�ED back months�).  THE AMENDMENTS WILL BECOME EFFECTIVE ON TUESDAY, FEBRUARY 18, 2003.

Please view the attached Special Executive Notice S-3907 for more information.

Thank you.