VOLUME 25 – BULLETIN #019 Eurex US 23 Hour Trading

TO:	ALL CLEARING PARTICIPANTS
FROM:	CLIENT SERVICES AND SUPPORT
DATE:	March 22, 2005
SUBJECT:	Eurex US 23 Hour Trading

Beginning April 3, 2005, for trade date April 4, 2005, Eurex US will extend the trading day, with the market opening at 5:15 p.m. and continuing through 4:00 p.m. on the next day, Chicago time, Sunday through Friday.

The Clearing Corporation will not change any clearing schedules, and processing times.

• SPAN® and settlement price files will be available around 5:00 p.m.

• Final Clearing begins at 7:00 p.m.

• Open Interest, delivery tenders and long positions must be submitted by 8:00 p.m.

• Register data files and reports will be available after final clearing is completed approximately 9:00 p.m.

• Margin calculation and variation for trades executed between 5:15 p.m. and 6:59 p.m. will be performed during the applicable trade date, as processed currently with trades executed between 7:00 p.m. and 7:20 a.m.

Current business will be available in ACT® and Trade Management until the start of final clearing at 7:00 p.m. The next day’s business will be available in ACT and Trade Management at the start of the new trading day 5:15 p.m. Firms will have the ability to inquire, update, allocate and claim, on both current and next trade date activity.

CCorp will automatically hold all MQM messages for the next business day until final clearing has finished, at approximately 9:00 p.m. Firms that would like to receive MQM messages as the next day’s trading starts at 5:15 p.m. should contact Client Services and Support.

“’SPAN’® is a registered trademark of the Chicago Mercantile Exchange Inc., used herein under license. Chicago Mercantile Exchange Inc. assumes no liability in connection with the use of SPAN by any person or entity”.

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