As of October 1, 2003, The Clearing Corporation is providing all clearing services for the markets that were previously served by Guaranty Clearing Corporation (GCC). The Clearing Corporation is also available to provide similar services to derivatives and OTC markets. This change reflects The Clearing Corporation's commitment to providing the industry with comprehensive clearing solutions that utilize state-of-the-art risk management techniques, promote safety and soundness of the markets we serve, and offer low cost, easy to use solutions for our member firms.

Firms that signed up to provide clearing services to any of these markets (CMX, ChemConnect, Merchants' Exchange and ICE) are not required to make any systems changes or complete any paperwork as part of this transition. In addition, all settlements and margin collections will now be combined into a single process, allowing firms to eliminate the separate bank accounts that were established for GCC business purposes. The Clearing Corporation will also continue to provide detailed reporting on a market-by-market basis to aid in trade management and market analysis. The procedures for accessing the systems and reports will remain unchanged.

If you have any questions regarding this change, please contact a CSS representative at (312) 786-5732.

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