Chicago Stock Exchange Records Best Third Quarter Ever Trade Volume Up 50 Percent Over Third Quarter 1998 September Trade Volume Increases 59 Percent From September 1998

The Chicago Stock Exchange (CHX) recently concluded the best third quarter in its history, and in the process the Exchange surpassed 1998's total annual volume in the first eight months of 1999. For the quarter ended September 30, 1999, total trade volume at the Exchange reached 6,544,670, up 50 percent over the third quarter of 1998, while total share volume ended at 3,283,207,381, an increase of 40 percent. "Our growth curve over the past three years has been remarkable," said Bob Forney, CHX president and CEO. "We've achieved this growth by responding quickly to the needs of our customers, our members and the investing public." The record-breaking third quarter was fuelled by a strong September. Total trade volume increased 59 percent from last September, finishing at 2,211,841. Total share volume finished at 1,132,232,842, up 43 percent from September 1998. The CHX's OTC program, under which the exchange trades Nasdaq-listed stocks, maintained its record-breaking pace in the third quarter. The Exchange began trading an additional 300 Nasdaq-listed stocks during the quarter. Total trade volume in Nasdaq issues reached 1,748,821, up from 71,392 in the third quarter of 1998. Total OTC share volume finished the third quarter at 707,097,935 compared to 90,115,023 in the same period last year. OTC volume also grew significantly in September. Trade volume reached 662,456, up from 23,587 last September. Share volume finished at 279,544,889, up from 30,965,818 in September 1998. The CHX again dominated extended hours auction market trading in September. The CHX traded 23,271,787 shares in the half-hour after the primary markets closed, comprising 81percent of the industry total. Also during the third quarter, the Exchange recognized John W. Bachmann, managing partner of financial-services firm Edward Jones, with its Lifetime Achievement Award. Bachmann has dedicated his professional life to the securities industry. Among his many achievements, he served two terms as Securities Industry Association (SIA) chairman in 1987 and 1988. The Chicago Stock Exchange was founded May 15, 1882 and is the second most active stock exchange in terms of share and trade volume. The CHX is also the fastest growing exchange providing the strongest force for competition to all U.S. markets. The CHX trades more than 4,500 NYSE, AMEX, Nasdaq and CHX-exclusive issues, more than any other stock exchange in the world.