TO:	ALL CLEARING PARTICIPANTS
FROM:	CLIENT SERVICES AND SUPPORT
DATE:	January 7, 2008
SUBJECT:	Early Expiration of the IFEX ELF Dec 07 Futures Contract

In accordance with CCFE Rule 2003(f)(iii), CCFE has determined for the IFEX ELF Dec 07 futures contract that no Eligible Event that could constitute a Covered Event for a listed Event Claim at any Loss Trigger Level has occurred during the Contract Risk Period. Therefore, in accordance with the rule, CCFE has elected to expire the Dec 07 futures contract complex effective the close of business on Wednesday, January 9, 2008. The final settlement price on the index for all the Loss Trigger Levels of the Dec 07 futures contract will be 0.00. To accommodate the early expiration of these contracts, The Clearing Corporation will offset all outstanding IFEX Dec 07 positions through a cash settlement transaction using the stated settlement price of 0.00 which will appear on both the trade register reports and data file for business dated Wednesday, January 9, 2008 to coincide with CCFE’s decision.

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