Dear CME Globex Customers,

Effective this Sunday, March 26, 2006 (for trade date Monday, March 27), to further enhance the depth and liquidity of the electronic CME Eurodollar markets, CME is launching seven new options spreads on CME Eurodollar Weekly One-Year Mid-Curves:

• Ratio Call and Put Spread
  • 1:2 and 2:3 ratios
• Horizontal Straddle Spread
  • 1:1:1:1 ratio
• Call and Put Horizontal Spread
  • 1:1 ratio
• Call and Put Tree Spread
  • 1:1:1 ratio
• Call and Put Butterfly Spread
  • 1:2:1 ratio
• Call and Put Condor Spread
  • 1:1:1:1 ratio
• Risk Reversal Spread
  • 1:1 ratio

Also on March 26, CME is scheduled to launch multi-strike functionality on CME Eurodollar options Conditional Curves.

These spreads are currently available for testing in the CME certification environment.

More information on these options spreads are available in the CME Eurodollar Options Expanded Spread Types section of the CME Globex Q1 Enhancements Client Impact.

For more information, please contact Craig Bewick, CME Interest Rate Products, at 312.930.3426; Jeff Kilinski, CME Interest Rate Products, at 312.648.3817; or your CME Globex Account Manager at 312.634.8700; or in Europe at +44.201.623.2550.

Thank you,

CME