Third Quarter 2007

Topics in this issue include:

CME Group Merger Update
Extended Electronic Trading Hours
Record Volume for CME GroupCommodity Futures and Options on CME Globex®
Livestock Updates
Reduced Fees for E-Livestock Options
Daily Livestock Report Web Site
Dairy Updates
Extended Listings for Electronic Dry Whey and Cash-Settled Butter
Free Real-Time Quotes for Dry Whey Futures
Wood Pulp Futures and Options – Coming September 9th
Free Trading Tools from CME Group
CME Globex Update: Electronic Trading Customer Forums

CME Group Merger Update

With the merger of CME and CBOT into CME Group finalized, we are moving quickly to integrate electronic CBOT (e-cbot) products onto the CME Globex electronic platform. In future issues of this newsletter, we will highlight news and updates relating to the full range of CME Group Commodity products including grains, livestock, oilseeds, dairy, lumber and other products.

For immediate questions related to the merger, we have compiled an FAQ which covers a range of topics including connectivity, certification, mock trading, market data, decommissioning e-cbot and the floor migration.

To learn more about CME Group, visit www.cmegroup.com.

Extended Electronic Trading Hours

CME Group Commodity futures and options traded on the CME Globex electronic platform are now available virtually 24 hours a day. Trading begins on Monday at 9:05 a.m. Chicago time and remains open through Friday 1:30 p.m. with daily hour-long trading halts at 4:00 p.m.

For additional resources and information, including how to get connected to CME Globex, frequently asked Q&A and settlement procedures, contact your broker directly or visit www.cme.com/extendedhours.

Following the extension of electronic trading hours in June 2007, trading volume of CME Group Commodity futures and options on CME Globex was up 80 percent over May 2007. In addition, daily CME Globex volume records were set for a number of futures and options contracts including:

CME Live Cattle futures with volume of 8,816 on July 12, 2007
CME Lean Hog futures with volume of 17,107 on July 18, 2007

Reduced Fees for E-Livestock Options Continue through December 31, 2007
Take advantage of the following special fee incentives effective through December 31, 2007, for Live Cattle and Lean Hog options executed on the CME Globex platform:

CME Globex fees for members are discounted from $0.50 to $0.25
CME Globex fees for non-members are discounted from $1.25 to $0.65
In addition, there is a waiver of the $0.05 give-up surcharge for all Livestock options     executed electronically

For more information regarding discounted fees, click here.

Daily Livestock Report Web Site
A valuable tool for every livestock trader, the Daily Livestock Report provides a one-page summary of news, prices, fundamental indicators, and trading activity on the Livestock complex. To sign up or access archives of previous reports, visit www.dailylivestockreport.com.

Dairy Update

Extended Listings for Electronically Traded Dry Whey and Cash-Settled Butter Futures
In response to customer demand, CME Group recently extended the listings for electronically traded Dry
Whey futures and Cash-Settled Butter futures an additional 12 months, for a total of 24 contract months.
Both products now have calendar spreads listed and implied functionality for the full 24 months.

Free Real-Time Quotes for Dry Whey Futures
Take advantage of the growing liquidity and price action of electronically traded Dry Whey futures on the
CME Globex platform:

Track prices and monitor daily electronic trading activity
See the order book with top 5 bids and offers
View outright and spread markets - real time and around the clock
Available for the full 24 contract months listed on CME Globex

See it for yourself at www.cme.com/wheyquotes.

CME Globex Update: Electronic Trading Customer Forums

The Electronic Trading Customer Forums are designed to bring CME Group and its customers together and will focus on preparing for the integration of electronic CBOT (e-cbot) products onto the CME Globex platform.

This free event is limited to CME Group customers and will cover:

CME Globex Access
Customer System Impacts
Functionality Enhancements
Connectivity and the Certification Environments
Market Operations
Transition Process

A customer forum will be held in Singapore at a later date.