CME Globex Notices: August 27, 2007

If you have any questions or concerns, please contact your CME Globex Account Manager at 312.634.8700; +44.20.7796.7100 in Europe; or at +852.3101.7696 in Asia.

Critical System Updates

CBOT and Hosted Exchange Products and Functionality Launch
Effective January 2008, the CBOT and Hosted Exchange functionality and products are scheduled to launch on the CME Globex electronic trading platform. Commodities, Dow and Hosted Exchange futures and options are scheduled to launch January 13, 2008. Interest Rate futures and options are scheduled to launch January 27. Jade and Metal products are not included in this launch.

All CBOT-related functionality and CBOT and Hosted Exchange products, including futures, options, spreads and strategies, are currently available for testing in New Release.

The new functionality to support this launch includes Fractional and Cabinet pricing; matching algorithms; new spreads; and enhancements to the Instrument Creation (MO) and Security Definition (MU) market data messages. Complete information on the customer system impacts for this launch is available in the CBOT Client Impact Assessment.

New Functionality

Display Conversion Factor Update
CME Group has completed development of the Display Conversion Factor, position 878 in the Instrument Creation (MO (m-oh)) RLC market data message, to define the price conversion factor for every instrument on CME Globex. CME Group recommends customers utilize this field to determine the conversion from the CME Globex display price to the actual trade price; it will also be used to convert CBOT products to a fractional price. More information on the DCF is available in the CBOT Client Impact Assessment at www.cme.com/cbotimpact/.

Product Launches

Wood Pulp Futures and Options Launch
Effective Sunday, September 9, 2007 (for trade date Monday, September 10), Northern Bleach Softwood Kraft Pulp Europe (Softwood Pulp) futures and options will launch on the CME Globex platform. Softwood Pulp options will be eligible for User-Defined Spreads (UDS) Combos and Covereds at launch.

Softwood Pulp on CME Globex

Product	Instrument Group Code	Product Code
Softwood Pulp Futures	WP	WP
Softwood Pulp Option Outrights	W0 (zero)
Softwood Pulp Options Spreads	W2

These Softwood Pulp instruments will be available in the Certification environment for customer testing this Monday, August 27.

Intercommodity Spread for Equity Futures
Effective Sunday, September 9, 2007 (for trade date Monday, September 10), a new intercommodity spread between the new E-mini S&P SmallCap 600 and the E-mini Russell 2000® futures will be available for trading on the CME Globex platform.

The new spread, Strategy Type Code IR, is a 2:1 ratio spread and will not support implied functionality.

The IR intercommodity spread is currently available in New Release for customer testing.

Update: Dairy Launch on CME Globex
Effective Sunday, September 16 (for trade date Monday, September 17), the following dairy commodity futures and options will launch on the CME Globex platform.

Dairy Future Outrights on CME Globex

Product	Instrument Group Code	Product Code
Non-Fat Dry Milk futures	DC	GNF
Class IV Milk futures	DC	GDK

Dairy Future Spreads on CME Globex

Product	Strategy Type Code	Instrument Group Code	Product Code
Non-Fat Dry Milk Calendar Spreads	SP	DC	GNF
Non-Fat Dry Milk 3-, 6- & 12-month Packs	FS	DC	GNF
Class IV Milk Calendar Spreads	SP	DC	GDK
Class IV Milk 3-, 6- & 12-month Packs	FS	DC	GDK

Dairy Option on Futures on CME Globex

Product	Instrument Group Code	Product Code
Non-Fat Dry Milk Options	N7	GNF
Class IV Milk Options	D8	GDK
Dry Whey Options	Y0 (zero)	DY
Cash-Settled Butter Options	C0 (zero)	CB
Class III Milk Options	A6	DC

Dairy Options Spreads on CME Globex

Product	Strategy Type Code	Instrument Group Code	Product Code
Non-Fat Dry Milk Straddles	ST	N8	GNF
Non-Fat Dry Milk Strangles	SG	N8	GNF
Non-Fat Dry Milk Verticals	VT	N8	GNF
Class IV Milk Straddles	ST	D9	GDK
Class IV Milk Strangles	SG	D9	GDK
Class IV Milk Verticals	VT	D9	GDK
Dry Whey Straddles	ST	Y3	DY
Dry Whey Strangles	SG	Y3	DY
Dry Whey Verticals	VT	Y3	DY
Cash-settled Butter Straddles	ST	C3	CB
Cash-settled Butter Strangles	SG	C3	CB
Cash-settled Butter Verticals	VT	C3	CB
Class III Milk Straddles	ST	A9	DC
Class III Milk Strangles	SG	A9	DC
Class III Milk Verticals	VT	A9	DC

These new futures and outright options are currently available for customer testing in the Certification environment. The options strategies will be available for customer testing in the Certification environment Monday, September 10.

Lehman Brothers U.S. Aggregate Index Futures Launch
Effective Sunday, September 30, 2007 (for trade date Monday, October 1), futures on the Lehman Brothers U.S. Aggregate Index will launch on the CME Globex platform. Futures calendar spreads will also be available upon launch, using the new Strategy Type Code SD.

The Strategy Type Code can be found at position 727-728 in the Instrument Creation (MO (m-oh)) RLC market data message. More information on the Strategy Type Code and MO messages is available in the RLC Message Specifications module of the Market Data Platform SDK.

The Lehman Brothers U.S. Aggregate Index futures will represent the world's first exchange-traded contracts on a U.S. broad-based, fixed-income index. Lehman Brothers U.S. Aggregate Index futures provide traders and investors a new tool for:

Asset allocation
Passive indexation
Portable alpha strategies
Spreading against other exchange-traded products

Product	Instrument Group Code	Product Code	Listed Contracts
Lehman Brothers U.S. Aggregate Index futures	LB	LBA	4 quarterlies

Product	Instrument Group Code	Product Code	Strategy Type Code	Listed Contracts
Lehman Brothers U.S. Aggregate Index calendar spreads	LB	LBAMY-LBA MY†	SD	6 spreads

† MY = Month and year in normal CME Group terminology, e.g. U7

These new futures will be available for customer testing in the Certification environment Monday, September 17.

Product Changes

Update! Weekly American-Style FX Options on CME Globex
Last Sunday, August 26, the weekly American-style options on Canadian Dollar, Japanese Yen and Swiss Franc were launched in a different Instrument Group Code than had been announced.

The Instrument Group Codes will be corrected for these products effective Sunday, September 2 (for trade date Tuesday, September 4). The correct Instrument Group Codes are identified below.

Weekly American-style FX Options on CME Globex

Weekly FX Options	Instrument Group Code	Product Code
Canadian Dollar	XD	6C1-6C5
Japanese Yen	XJ	6J1-6J5
Swiss Franc	XS	6S1-6S5

The Instrument Group Code can be found in the Instrument Creation (MO) message at position 70-71.

New Instrument Group Codes may require front-end system or trading application changes. Please contact your system provider for more information.

Housing Extension
Effective Sunday, September 16, 2007 (for trade date Monday, September 17), CME Group is extending the listed Housing futures from the currently listed four quarterlies to a total of 60 months. This change will apply to all of the Housing futures on CME Globex, including the Composite Index and 10 U.S. cities.

The currently listed spreads will also be extended out the full 60 months, including the intercommodity spreads.

Housing Futures Extension

Product	Current Listings	Extended Listings
Boston Chicago Denver Las Vegas Los Angeles Miami New York San Francisco San Diego Washington Composite Index	4 quarterly futures in February cycle	First 18 months: 6 quarterly futures in February cycle Second 18 months: 7 biannual futures in May cycle Last two years: 2 annual futures in November cycle

The Chicago and Las Vegas futures and spreads will be available for customer testing in the Certification environment Monday, September 10.

FX Options Strategies Launch
Effective Sunday, September 30, 2007 (for trade date Monday, October 1), Horizontal and Risk Reversal option strategies on the following American-style FX options will be launched on the CME Globex platform.

Euro FX options (product code 6E)
Japanese Yen options (product code 6J)
British Pound options (product code 6B)
Swiss Franc options (product code 6S)
Canadian Dollar options (product code 6C)
Australian Dollar options (product code 6A)
New Zealand Dollar options (product code 6N)
Mexican Peso options (product code 6M)
Russian Ruble options (product code 6R)

These strategies will use the current Strategy Type Codes HO for Horizontals and RR for Risk Reversals.

Events and Announcements

Labor Day Holiday Schedule
The CME Globex holiday Schedule for Labor Day, this Monday September 3, is now available online.

New Release and Certification Environments: Testing on CME Globex
Effective August 13, the new functionality to support CBOT products on CME Globex was launched in the New Release environment. With this launch, functionality and messaging in the New Release environment will not mirror the production environment until the CBOT functionality is rolled into production later this year.

In the interval, to allow customers to test new products and instruments in a production-like environment, new products are being made available in the Certification environment prior to launch. The specific environment where the new products can be tested is always identified in the CME Globex Notice article announcing the launch.

New Release and Certification are completely independent environments. Product listings and ISIN codes, as found in the CME Globex Internal ID field of the MO message, may be different in each environment. CME recommends that customers use the CME Market Data Platform channels specific to each environment, as defined in the channel definitions: