CME Launches New Internet Simulated Trading Program- Cooperative Effort With Member Firms, U.S. Virtual Provides Broker Advice, Look, Feel Of Real Futures Trading Account

The Chicago Mercantile Exchange (CME) today announced that it has launched a new simulated trading program in conjunction with its member firms and U.S. Virtual, Inc., providing online investors with a trading experience virtually identical to having a futures trading account. The program is the first of its kind combining the wide range of resources of brokerage firms, a futures exchange and a brokerage system provider. The site, http://cme.usvirtual.net, allows investors to register online for the new CME/Member Firm Enhanced Internet Simulated Trading Program, set up a real-time simulated trading account and receive the resources a member firm provides, which may include profit and loss statements, research and the advice of a qualified member firm representative regarding their trading activities. "The Merc's new online simulated trading program provides potential futures traders the closest experience possible to actually trading futures contracts," CME Chairman Scott Gordon said. "By allowing participants to practice trading in the context of a relationship with a futures brokerage firm, this program creates an ideal educational environment for honing one's futures trading skills. This takes simulated trading to a whole new level." The program expands the joint efforts of the Chicago Mercantile Exchange, and U.S. Virtual, the industry's original and biggest Internet brokerage system provider. Participants will receive real-time trade confirmations and account statements. Each participant is randomly assigned to one of the CME's participating clearing firms and may open a real futures trading account at any time. The Internet Simulated Trading program is a free-standing, simulated futures trading web site developed by the AUDITRACK division of U.S. Virtual and dedicated exclusively to CME futures and futures options. Investors may join the program for a cost of $24.95 per month for up to three months. The CME is the world's leading exchange for trading equity index, currency, interest rate and agricultural futures and options. The exchange first began a simulated trading program on the Internet in conjunction with Auditrack in 1997. The CME launched its Web site in October 1994, becoming the first futures exchange on the Web.