Market  Data Advisory Notices
To Market Data Distributors
From Market Data Operations
Subject CME Options Cabinet and Zero Price Conventions on Globex– Effective Immediately
Notice Date 2006-12-01
Notice Number Q2006-221
Effective Date 2006-12-01

For Market Data Distributors that support trading systems-

Currency and Livestock outright options executed at a Trade Price of 0 (zero) will be considered a trade at cabinet.

Equity and Eurodollar outright options executed at the lowest allowable tick value (non-zero) will be considered a trade at cabinet.

Buy-Sell option spreads executed at a Trade Price of 0 (zero) will be considered a trade at a 0 (zero) differential and leg prices will be assigned accordingly. These do not represent a trade at the Cabinet Price.

Buy/Buy and Sell/Sell option strategies must be entered with an order price no less than one tick per leg. For example, an straddle that trades at a tick of .25 per leg must be entered with a price of .50 or greater

CME is currently reviewing Cabinet pricing for all CME Globex options to support order entry at the actual Cabinet Price.

For questions regarding this notice, contact:

Marilee Radecki                                312.930.8193                        mradecki@cme.com

Kevin Brady                                      312.648.3653                        kbrady@cme.com

Thank you.