TO:	ALL CLEARING PARTICIPANTS
FROM:	CLIENT SERVICES AND SUPPORT
DATE:	December 5, 2007
SUBJECT:	CCorp Messaging and Data File Updates to Support USFE Binary Option Contract Functionality

In order to facilitate the clearing and processing of the following USFE binary option contracts:

USFE Binary Option Contract	Contract Code
Binary Option Euro	PE
Binary Option Australian Dollar	PD
Binary Option Japanese Yen	PY
Binary Option Silver	PS
Binary Option Gold	PG
Binary Option Oil	PC

CCorp has enhanced its MQM Messaging, Open Interest Reporting, Large Trader Reporting, and Trade Register data file processes to include a binary option contract’s expiration date. Following is an overview of the changes.

MQM Messaging

Positions 64 through 65 within the TREX Main Block record will contain the weekly expiration date applicable to the binary option contract. This date will be included within all confirmation and Application Program Interface (API) messages firm participants receive from CCorp. API message types include Give-up, EFP, Transfers, and Misclear transactions.

Trade Register Data File

Within the Trade Register Data File, the Daily Matched, Exercise, Assignment, Detail and the Position & Option Detail records will be updated to reflect a binary option contract date. For Daily Matched, Exercise, Assignment Detail records, the expiration date will appear within fields 120 through 127 and for the Position and Option Detail records, the expiration date will appear in positions 79 through 86 both in the YYYYMMDD format. Additionally, the Contract date will continue to be reflected in positions 9 through 12 for both record types in the YYMM format.

Settlement Price File

The options settlement price file has been enhanced to accommodate USFE’s binary option contracts. Positions 32 through 37 of the options settlement price file, SETTOOUT, will contain the binary option’s contract date in a YYMMDD format. Positions 6 through 9 and 10 through 11 will continue to contain the applicable contract year and month respectively.

Open Interest File

The Open Interest reportable position data record layout has been modified to support USFE Binary Option contract data submission. The record layout has been enhanced to add contract day in columns 64-65 and should be populated with a valid contract date value for binary options. For all other products, these fields should be left blank when reporting Open Interest data. Additionally, in order to support the five digit strike prices associated with Australian, Euro, and Yen Performance Binary Option contracts, participants should submit the rightmost digit of the five digit strike within column nine of the open interest data record layout. These changes are intended to support the new USFE products while limiting the impact to Clearing Participants that choose not to participate within the new markets.

Large Trader Files

The existing P6 record layout will be utilized for the purpose of reporting Large Trader positions for USFE Binary Option products. Clearing participants should provide the contract day within columns 28-29 along with a zero in the exercise style within column 39 for the binary options

Please note: Even though both Open Interest and Large trade files will support the submission of an applicable contract date, initially, participants will not be required to submit binary option contract dates within these files. This is due to the fact that USFE, at inception, will only allow active trading in one expiration date at any give time for each active binary option contract.

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