TO:	ALL CLEARING MEMBERS
FROM:	Nancy K. Brooks Vice President and Secretary
DATE:	December 5, 2000
SUBJECT:	Nominating Committee and Nominating Process

The Board of Trade Clearing Corporation is pleased to announce that our Board has selected the following persons to serve on the Nominating Committee for nomination of Governor candidates for 2001 - 2004:

Christopher K. Hehmeyer, Chairman	(Goldenberg,Hehmeyer & Co.)
David Johnson	(Morgan Stanley & Co. Incorporated)
Neal E. Kottke	(Kottke Associates, L.L.C.)
Timothy R. Mullen	(First Options of Chicago, Inc.)
Charles P. Nastro	(Lehman Brothers Inc.)

The Annual Meeting of Stockholders will take place on Wednesday, February 21, 2001. At the Annual Meeting, three Governors will be elected to serve on the Board of Governors of the Clearing Corporation to fill the three positions open due to Governors' terms expiring. The three Governors whose terms are expiring in 2001 are:

W. Robert Felker	(Banc One Brokerage International Corporation)
William L. Zimmerman*	(Salomon Smith Barney Inc.)
Michael J. Brinati*	(Iowa Grain Company)

* Eligible for nomination for another three-year term.

The Nominating Committee will hold meetings on Monday, December 18, 2000 at 2:00 p.m. and on Monday, January 8, 2001 at 2:00 p.m. in the Board Room of Suite 1460 of the Board of Trade Building. At these meetings, the Committee will accept nominations to fill the open positions for Governor of the Board of Trade Clearing Corporation.

Under the Clearing Corporation's governance structure, candidates for Governor must be an individual clearing member, or a partner or officer of a firm or corporation that is a clearing member from a designated group of clearing members. Candidates for Governor are not required to be members of the Chicago Board of Trade.

Due to the current composition of the Board, in February 2001, two Governors will be elected from "Group B Clearing Members" on a one share-one vote basis and one Governor will be elected from "At Large Clearing Members" on a one member-one vote basis. No two Governors may be from the same member firm. "Group A Clearing Members" are the stockholders that currently own the top 50% of the required Clearing Corporation stock. "Group B Clearing Members" are the remaining Clearing Corporation stockholders. "At Large Clearing Members" are any stockholders (Group A or Group B Clearing Members).

There are currently 12 stockholders in Group A:

ADM Investor Services, Inc.	Goldman, Sachs & Co.
Cargill Investor Services, Inc.	J.P. Morgan Futures, Inc.
Carr Futures, Inc.	Lehman Brothers Inc.
E.D. & F. Man International, Inc.	Merrill Lynch Futures Inc.
FIMAT USA, Inc.	Refco, Inc.
First Options of Chicago, Inc.	Salomon Smith Barney Inc.

Appointments to appear before the Committee should be scheduled by calling Nancy K. Brooks at (312) 786-5711 or her secretary, Donna Schmit, at (312) 986-3425. The Committee suggests that appointments be made as early as possible to enable the Committee to accommodate all members that wish to submit their nominations. Nominations also may be submitted by letter directed to the Nominating Committee of the Board of Trade Clearing Corporation, c/o Nancy K. Brooks, Vice President and Secretary, Board of Trade Clearing Corporation, 141 W. Jackson Boulevard, Suite 1460, Chicago, Illinois 60604. Nomination letters must be delivered to the Clearing Corporation no later than December 29, 2000. The Committee suggests that members confirm the willingness of their candidates to serve before submitting their names to the Committee.