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October Volume: October Trading Volume Is Highest In CME History At 61.5 Million As Open Interest Reaches Record 22.1 Million Positions

Date 01/11/2002

Trading volume on Chicago Mercantile Exchange Inc. (CME) was the highest in CME history in October, as 61.5 million contracts changed hands, an increase of 61 percent over October 2001. Trading volume on CME's GLOBEXÒ electronic trading platform also set a new all-time monthly record at 28.2 million contracts, up 59 percent from October of last year. Year-to-date CME volume of 475.3 million contracts represents a 43 percent increase over year-ago levels.

October volume on CME included 2,661,340 Select 50 TRAKRSSM contracts matched on the GLOBEX system in a special opening procedure yesterday, Oct. 31, and representing orders taken since the product was announced on Oct. 7. Volume in TRAKRS pushed CME volume to a single-day record yesterday of 5.9 million contracts, surpassing the previous record of 4.3 million contracts set on June 26. Open interest yesterday reached a new record of 22.1 million positions, representing a 36 percent increase over year-ago levels. The previous open interest record was set Sept. 12 at nearly 20.3 million positions.

The underlying value of CME trading volume in October totalled $31.4 trillion.

A record 159.9 million contracts were traded electronically on the GLOBEX platform year-to-date. Including TRAKRS, trading volume on GLOBEX set a new single-day volume record Oct. 31 of 3,704,387 contracts, surpassing the previous record of 2,171,587 contracts set on July 31, when Long-Short Technology TRAKRS futures were introduced. Excluding these special opening procedures for TRAKRS, the single-day volume record on GLOBEX was 1.5 million contract traded on July 24.

CME's exchangewide October volume surpassed the previous record monthly volume of 59.3 million contracts set in July 2002. The GLOBEX monthly volume for October surpassed a previous record of 23.3 million, also set in July 2002.

During October 2002, CME's average daily volume totaled nearly 2.7 million contracts. Excluding the one-day volume of TRAKRS, the average daily volume for October would have been nearly 2.6 million, compared to 1.7 million contracts for October 2001. Average daily volume was 2.3 million contracts for the first 10 months of 2002, compared to 1.6 million contracts in 2001. Average daily volume on GLOBEX was 1.2 million contracts in October compared to 446,812 for the same period last year.

Stock index products set a new all-time monthly volume record in October of 29.5 million contracts, including records of 17,174,851 E-mini™ S&P 500 futures, 6,252,273 E-mini Nasdaq-100 futures, 141,412 E-mini Russell 2000 futures and 65,947 E-mini S&P MidCap 400 futures. Year-to-date, volume of stock index futures and options has risen 102 percent totalling 176.2 million contracts.

Among interest rate products, CME's Eurodollar futures and options set new trading volume records for any October at 18.5 million futures and 10.8 million options. In foreign exchange, Euro FX futures set a new October record of 525,230 contracts, as did Australian dollar futures at 73,411 and New Zealand dollar futures at 3,103.

Chicago Mercantile Exchange Inc. (www.cme.com) is the largest futures exchange in the United States and the second largest exchange in the world for the trading of futures and options on futures. As an international marketplace, CME brings together buyers and sellers on its trading floors and GLOBEX around-the-clock electronic trading platform. CME offers futures contracts and options on futures primarily in four product areas: interest rates, stock indexes, foreign exchange and commodities. The exchange moves about $1.7 billion per day in settlement payments and manages $27.7 billion in collateral deposits. CME is a wholly owned subsidiary of Chicago Mercantile Exchange Holdings Inc.