VOLUME 24 – BULLETIN #057

Beginning Monday October 25, 2004 all requests for option exercise, and cancellations of in the money options will be done through new web-based GUI screens in the position management application. The OTIS® option exercise/inquiry screen will no longer be supported.

Users will use their current web user ID and password to access the option exercise entry, and option exercise inquiry screens in position management. The option exercise entry screen will have three radio buttons that will allow the user to exercise in the money positions, exercise out of the money positions, and cancel an exercise that is in the money and would be automatically exercised.

Open long option positions with deliverable underlying futures contracts that are in-the-money on expiration day will be automatically exercised, unless the firms submits a automatic exercise cancellation notice. Submission of in-the-money cancellation, and request to exercise an out-of-the-money option will require an authorization code (OTM out-of-the-money code) to be entered. To obtain an authorization code, please contact Client Services and Support. All exercise requests must be submitted by 6:00 p.m, Chicago time.

Should you have any questions, please call or e-mail one of the following Client Services and Support Representatives: