Welcome to the CME Globex Notices for the week of December 3, 2007.

Critical System Updates

• ITC2.1 Market Data Platform Channel Changes Postponed! - December 16
• CBOT and Hosted Exchange Products and Functionality Launch - January 2008
• FIX/FAST Channel Definitions - January 2008
• Changes to Instrument Creation (MO) Replay Channels - March 30 2008

New Functionality

• Volatility-Quoted Options Launch - February 2008

Product Launches

• NYMEX Crack Spread and Calendar Options on CME Globex - December 16

Product Changes

• NYMEX Options Strategies on CME Globex - December 16

Events and Announcements

• NYMEX Mock Trading Session - This Saturday!

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  

ITC2.1 Market Data Platform Channel Changes Postponed  
In response to customer requests, the decommission of legacy ITC2.1 Market Data Platform channels 4, 5 and 6 for CME Globex market data, originally scheduled for December 1, has been postponed to December 16, 2007.

Until December 16, the legacy ITC2.1 Market Data Platform channels will operate in parallel with the new ITC2.1 channels. The new channel schema, launched on Sunday, October 14, provides more granular and scalable ITC2.1-format market data. More information on this change and the new channels is available online.

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.

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. Customers can certify for Cabinet pricing in New Release via the AutoCert+ automated certification tool.

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. The Mock Trading Plan for the CBOT and Hosted Exchange products launch on CME Globex is available online.

FIX/FAST Channel Definitions  
As previously announced, the FIX/FAST channel definition tables in PDF format will be available until January 2008. After January 2008, the Market Data Configuration Service will be the only source for channel definitions. The Market Data Configuration Service is designed to ease the recommended procedure of verifying templates and channel configuration each week at Sunday start-up.

The Market Data Configuration Service is currently available and allows customers to receive an XML file from an FTP site with all the Market Data Platform channel information (multicast IP, product group and ISIN served) for FIX/FAST.

More information on the Market Data Configuration Service is available in the Core Functionality module of the FIX/FAST SDK, Section 2.1.2.2.

Please note: there is no change for the RLC and ITC2.1 format market data channel definition tables.

Changes to Instrument Creation (MO) Replay Channels  
Effective Sunday, March 30, 2008, CME Group will decommission the Instrument Creation (MO) Replay channels 1 and 16 in the production and Certification environments. Channels 1 and 16 will be decommissioned in New Release effective Sunday, March 2.

The new MO Replay channels on the Market Data Platform, introduced in November 2007, allow customers to listen only to the MO messages for which they receive market data. With these new channels, every product RLC data channel (e.g., channel 7, Equity futures; channel 8, Equity options, etc.) now has a dedicated MO Replay channel.

Please note, these changes only affect the RLC-format channels. There are no changes to the ITC 2.1-format channels.

The new MO Replay channels are currently available in New Release, Certification and production. The channel definition tables are available for Certification and New Release at www.cme.com/certsdk, and for production at www.cme.com/prodsdk.

New Functionality  

Volatility-Quoted Options Launch  
In February 2008, CME Group is launching volatility-quoted options on six FX options products: EuroFX, British pound, Japanese yen, Canadian dollar, Swiss franc and Australian dollar.

Volatility-quoted options support delta-neutral trading, which virtually eliminates the execution risk inherent to trading premium price options. The volatility-quoted options will utilize the existing FX options and futures products.

The EuroFX volatility-quoted options suite, including all maturities in the American and European style and Straddle, Strangle and Vertical strategies, are currently available in the New Release environment for customer testing. The remaining volatility-quoted options will be available in New Release Monday, December 17.

More information on these new products and the associated messaging and functionality enhancements is available in the Volatility-Quoted Options Client Impact Assessment.

Product Launches  

NYMEX Crack Spread and Calendar Options on CME Globex  
Effective Sunday, December 16, 2007 (for trade date Monday, December 17), the following options on NYMEX Crack and Calendar futures spreads are scheduled to launch on the CME Globex platform.

Complete CME Globex product specifications are available in the NYMEX Options Snapshot and NYMEX Futures Snapshot.

These new options will feature negative strike prices and User-Defined Spreads (UDS) functionality. More information on negative strike prices is available in the Enhanced Trade and Settlement Prices Client Impact Assessment. More information on UDS functionality is available in the Options module of the iLink Software Development Kit.

To provide the necessary data for customers' theoretical options pricing models, CME Group will list the following synthetic, non-tradable futures for the dissemination of settlement data.

Please note: with this launch, products with Group Code 08 will be disseminated on multiple Market Data Platform channels.

These new futures and options are currently available for customer testing in New Release.  

NYMEX and CME Group are hosting a mock trading session on Saturday, December 8. The NYMEX Complex Options Mock Trading Session Plan and Script are currently available online. Participants will be able to download the Instrument Creation (MO (m-oh)) market data messages for the new instruments from the Market Data Platform MO Replay channels starting at 6:40 a.m. Central time. CME Group strongly recommends customers purge these new instruments from their instrument databases at the close of the mock trading session.

Product Changes  

NYMEX Options Strategies on CME Globex  
Effective Sunday, December 16, 2007, Straddle, Strangle, Vertical and Butterfly strategies on NYMEX RBOB, Heating Oil and Copper options will be launched on the CME Globex platform. Complete CME Globex product specifications are available in the NYMEX & COMEX Options on CME Globex Snapshot.

Full User-Defined Spreads (UDS) functionality, including Combos and Covereds, is already supported for these NYMEX options. More information on UDS functionality is available in the Options modules of the iLink SDK and Market Data Platform SDK.

These new strategies are currently available in the New Release environment for customer testing.