VOLUME 28 – BULLETIN #009

TO:	ALL CLEARING PARTICIPANTS
FROM:	CLIENT SERVICES AND SUPPORT
DATE:	February 5, 2008
SUBJECT:	Expiration of February 2008 Option Contracts

On Monday, February 11, 2008, the following February 2008 option contracts for the Chicago Climate Futures Exchange will officially expire:

CCFE

Sulfur Dioxide

Firms should note that all option positions that are in-the-money will be automatically exercised. Firms that wish to submit an exercise cancellation instruction or an out-of-the-money exercise instruction can do so prior to the 5:00 p.m. expiration deadline through Position Management. Please note; an authorization code is required when submitting special option instructions through Position Management. Participant firms that need to verify their authorization code can do so by contacting Client Services and Support at (312) 786-5718.

Firms are reminded that all unmatched transfer and give-up transactions for expiring option contracts should be reconciled prior to the 5:00 p.m. deadline on the last day of trading.

To aid participants in the reporting of final open interest in expiring options contracts as well as the verification special option instructions, CCorp will provide firms with the following reports through Web Report Distribution:

A column that appears within these reports titled ‘Current Positions’ will display a firm’s current gross position within each contract. These positions are calculated by using the applicable firm’s incoming position and adding the current day’s gross trading activity to this position. Firms can compare the current calculated position against the positions the firm intends to report as Final Open Interest either via FTP or through Position Management. If a firm determines that an open interest reporting discrepancy exist should contact Client Services and Support at (312) 786-5718.

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