Dear CME Globex Customers,

Effective Sunday, May 7, 2006 (for trade date Monday, May 8), to further enhance the transparency of the electronic market, leg execution reports will be disseminated for the CME Libor-Eurodollar inter-commodity spread (LEDS).

To facilitate this enhancement to the LEDS, CME will cancel all GTC and GTD orders at the close of trading, and replace the current instrument group code "LD" with the new instrument group code "EM" on Friday, May 5. Customers will need to reload the LEDS contracts from the CME market data Instrument Creation (MO (m-oh)) message on Sunday, May 7.

As a reminder, position 777 of the MO message indicates whether a product will return legs and create implied orders. For more information, please see CME Market Data Platform Message Specifications, page 30, or CME Market Data API Message Specifications, page 64.

If you have any questions or concerns, please contact Peter Barker, CME Interest Rate Products, at 312.930.8554; or your CME Globex Account Manager at 312.634.8700, or in Europe at +44.207.623.2550.

Thank you,
CME