Ticker Symbols: Calls: EM Puts: EM

Underlying Contract: One LIBOR futures contract

Strike Prices: $.25 intervals, e.g., 92.25, 92.50, 92.75

Premium Quotations: U.S. $ per Index point

Min Price Fluct: .01 $25.00 (cabinet = $12.50)

Daily Price Limit: None

Contract Months: All 12 calendar months

Trading Hours: 7:20 am-2:00 pm (Chicago Time).

Last day: 7:20 am-9:30 am

Last Day of Trading: Second London business day immediately preceding the third Wednesday of the contract month

Min Perform Bond: No performance bond required for put or call option buyers, but the premium must be paid in full; option sellers must meet additional performance bond requirements as determined by the Standard Portfolio Analysis of Risk (SPAN) performance bond system.

Exercise Procedure: An option may be exercised by the buyer up to and including the last day of trading. To exercise, the clearing member representing the buyer submits an Exercise Notice to the Clearing House by 7:00 p.m. on the day of exercise. Any long iii-the-money option position not liquidated or exercised prior to termination of trading will be automatically exercised.