CBOT Receives CFTC Approval to Trade PJM Western Hub Electricity Futures and Options

The Chicago Board of Trade has announced that it has received CFTC approval to trade electricity futures and options based on the delivery of wholesale power into the Pennsylvania-New Jersey-Maryland (PJM) electricity system. These contracts will be traded exclusively on Project A. A launch date will be determined in the near future. The CBOT Board of Directors on January 19, 1999 voted to begin trading existing ComEd and TVA futures and options contracts exclusively on Project A, beginning February 22, 1999, pending approval of the CFTC. Pit trading for electricity futures will end on February 19, 1999.