Effective Sunday, November 6, 2005, a variable tick will be implemented on the E-Mini^TM Russell 2000^®options contract.  Premiums above 3.00 index points will tick in 0.10 increments.  Premiums equal to or below 3.00 index points will tick in 0.05 increments.  Cabinet trades will remain at 0.05.

Additionally, variable tick increments will apply to the following options spreads:  Option butterflies, horizontal option spreads, straddles, strangles and vertical option spreads.

If you have any questions regarding this notice, please contact:

Marilee Radecki                                  312.930.8193                          mradecki@cme.com

Kevin Brady                                         312.648.3653                          kbrady@cme.com