The Clearing Corporation is beginning a program to implement one–sided entry of EFP transactions. EFP’s will be entered and claimed through use of the Allocation and Claim Transaction (ACT) System or through API’s (Application Program Interface). Firms will have access to the Test ACT System beginning on July 24, 2000. In preparation, the Clearing Corporation would like to inform firms of hardware, software, and other requirements involved with the testing of ACT.

Hardware Requirements

• 100 MHz or higher Pentium-class machine

Software Requirements

• 128-bit encrypted version of Netscape Communicator v4.7 or higher (or)

• 128-bit encrypted version of Microsoft Internet Explorer v5.1 or higher

Other Requirements

• Access to the World Wide Web through an Internet Service Provide or network connection.

• Cookies enabled on web browser.

• User Id and Password for firm/individual. Active OTIS users have been assigned a Password for ACT which can be received by contacting your Business Systems Group Representative.

MQM Messaging

• ACT Main Page

• Trade Entry Screen

• Allocation Summary

• Allocation Detail

• Claim Summary

• Claim Detail

All users that have current access to OTIS will have access to the ACT system. A new password for OTIS users has been assigned for initial entry into ACT and can be received by contacting your Business Systems Representative. Firms are advised to access the new ACT system from their BackOffice as soon as they receive their User ID. This will allow users to become familiar with ACT’s new Graphical User Interface (GUI) screens.

Application Program Interface

Attached you will find the new TREX record block that has been developed, EFP Business Rules that have been defined for the project. Firms can request an updated copy of the matrix that has been developed to facilitate API messages that will need to be used when transmitting and receiving these transactions by contacting your Business Systems Representitive.

Clearing Reports

After each test, the clearing corporation will produce test Trade Registers which will be delivered to the firm lock boxes. Test Register Datafiles will also be available. Please complete the attached form and return it to the Business Systems Group, Suite 1430 or fax it to (312) 786-0152.

Should you have any questions, please call or e-mail one of the following Business Systems Analysts:

FIRM(s).: _________________________________________

FIRM NAME: _____________________________________

MQM QUEUE:

INBOUND:_____________________________________

OUTBOUND: __________________________________

I understand this process will

send messages to the above listed MQM

queue every 2 minutes.

NAME: ___________________________________________

SIGNATURE: ______________________________________

DATE: ____________________________________________

Return to:

Business Systems Group

Board of Trade Clearing Corporation

141 W. Jackson Blvd., Suite 1430

Chicago, IL. 60604

Fax: (312) 786-0152

1. Only one side of an EFP Trade will be entered in the trade entry systems. The Seller will enter the trade.

2. A browser based on-line system will be provided to enter EFP trades. The system will be accessible from the BOTCC web site. The OTIS system will not be used.

3. Position updates will occur when the EFP is claimed. A buy and sell record will be generated by the ACT system and merged into the clearing process immediately.

4. Reversals can be performed on claimed transactions.

5. The EFP and ACT data will be kept on the database for a rolling week (i.e. Wednesday to previous Tuesday, Thursday to previous Wednesday…) and the system will purge data. The cleanup program will be parameterized to allow for flexibility in the cleanup time line.

6. EFPs can be given up. The ACT system will make use of the existing Give-up software to create the give-up data and users will need to go into the existing Give-up system or use the Give-up API (GAPI) to process their data. When the Give-up functionality is incorporated into the ACT system, the existing Give-up system will be disabled and the Give-up trades will be processed by ACT.

7. A new TREX block (A7) will be used to allow entry of a carrying firm’s account number for an allocation.

8. Over Allocations are not allowed.

9. Over Claims are not allowed.