Catastrophe Insurance FUTURES

Underlying Instr.: One Eastern Catastrophe Insurance futures : contract of a specified contract month

Tick Size: 1/10 of one index point, or $25.00 per contract

Strike Prices: Listed in integral multiples of one index point to brace the underlying futures contract (i.e., the strike price closest to the previous day's futures settlement price and the next 40 consecutive higher and lower strike prices). Also, strike prices shall be listed from 5.0 to 195.0 in even five point intervals above and below the range of one point strikes.

Daily Price Limit: Initial trading limits of 10 index points with variable trading limits of 1 5 index points above the previous day's option settlement premium

Contract Months: Mar, Jun, Sep, Dec

Last Trading Day: The fifth calendar day of the seventh calendar month following the contract month

Exercise: Option buyers may exercise an option contract on business Day prior to expiration by giving notice to the clearinghouse by 6:00 p.m. on such day. Exercised options are randomly assigned to option sellers. Al] inn-the-money options after the close oil the last trading day will be automatically exercised.

Expiration : Unexercised options will expire at 6:00 p.m. (Chicago time) on the same day in which the Final settlement price of the underlying futures contract is made publicly available.

Trading Hours: 8:30 a.m. - 12:30 p.m. Chicago time, Mon- Fri

Ticker Symbols: UEC for calls/ UEP for puts