New Product Summary for Quote Vendors - Lumber Futures and Options

Date:   October 9, 2008

Q2008-213

New Product Summary for Quote Vendors

Listing Date                         

Sunday, October  19, 2008 (trade date Monday, October 20, 2008)

Contract Name

Lumber Futures and Options

Description

Futures and Options being listed on CME Globex^®

Instrument Type

Future outrights, Calendar Spreads & Option outrights, verticals, horizontals, and UDS

Ticker Symbol(s)

LBS

Trading Venue

CME Globex platform (Side-by- Side)

Contract Size

Futures - 110,000 bd. Ft. of random lengths 2x4s  / Options - 1 CME Lumber Futures

Trading Hours

Sundays through Fridays from 5:00 p.m. Central Time (CT)  to 4:00 p.m. Central Time (CT)  

Valid Contract Months

Nov08, Jan9, Mar09, May09, Jul09, Sep09, Nov09

Initial Contract Months

Nov08

Minimum Price Intervals and Value Per Tick

$0.10 per thousand board feet = $11 per contract

Termination of Trading

For Futures - Trading in an expiring contract concludes on the business day immediately preceding the 16^th calendar day of the contract month.  Expiration Time:  12:05:00 CT
For Options – Last business day of the calendar month prior to the option contract month.  Expiration Time:  13:05:00 CT

Final Settlement Price

Final settlement per CME rulebook

Exercise Style

American

Exercise Price Listings and Intervals

ATM +/- 20 in $5 intervals

Price Conventions

Futures Trade Price

Option Strike Price

Option Premium

ITC 2.1 Ticker Testing Date(s)/Time(s)

Ticker testing will be held on Friday, October 10 and Friday October 17    2008 at approximately 5:00 p.m. DST.

Actual Price

257.90

255.00

7.00

ITC Transmission Format

0025790

0025500

0000700

RLC Testing in CME Certification Environment

These products will be available for Quote Vendor testing in the new release environment on October 5, 2008.

ITC Fractional Indicator

2

2

2

RLC Format

25790

2550

700

Market Data Platform Channel Information

Market data in ITC 2.1 format will be transmitted via MDP Channel 206; RLC format data will be transmitted via MDP Channel 13.

Preferred Display

257.90

55

7.00