VOLUME 26 – BULLETIN #038

TO:	ALL CLEARING PARTICIPANTS
FROM:	CLIENT SERVICES AND SUPPORT
DATE:	November 1, 2006
SUBJECT:	Chicago Climate Sulfur Financial Futures Contract Changes

Effective November 3,2006 Chicago Climate Futures Exchange will list for trading in the Sulfur Financial Instrument Future (SFI) product a series of December 06 contracts having different delivery requirements. In addition to the existing December 06 contract that expires on December 29, 2006 and which calls for delivery of EPA allowances with vintages of 2006 or earlier, the new series of December 06 contracts will also expire on December 29, but will have delivery requirements of the listed vintage year or any earlier vintage.

The new contracts will also be eligible for spread credits of 80% for all available contract months. All other contract specifications are unchanged. The Climate Exchange may offer additional vintage series in the future.

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