The changes, which call for seasonally increased storage fees and additional delivery points, have been recommended to improve convergence between futures and cash prices at contract expiration.

The Commodity Futures Trading Commission (CFTC) must approve any contract changes and proposed implementation schedule pertaining to the grain and oilseed listings at CME Group if the changes are applied to contract months with open interest.

The recommendations are based on input from market participants, including commercial interests, grain elevators, individual traders, proprietary trading firms and others.

--  Changes to the storage rates include introducing seasonal premium charges to be increased during the period from July through November to 8 cents per bushel per month.  During the remainder of the crop year from December through June, the exchange is recommending that premium charges remain at their current level of 5 cents per bushel per month.

--  Three additional delivery territories are also being recommended.  The delivery areas would include shuttle train loading facilities in a 12-county area of northwest Ohio; barge loading facilities on the Ohio River from Cincinnati to the Mississippi River; and barge loading facilities on the Mississippi River from below St. Louis to Memphis.  In addition, northwest Ohio locations will be added at a 20 cent per bushel discount; Ohio River locations at par; and Mississippi River locations at a 20 cent per bushel premium.

--  Finally, the exchange is recommending that the vomitoxin level for par delivery be lowered from three parts per million (ppm) to two ppm.  Wheat containing three ppm of vomitoxin will continue to be deliverable at a 12 cent per bushel discount and wheat containing four ppm of vomitoxin will continue to be deliverable at a 24 cent per bushel discount.

The seasonal storage rate and additional delivery locations are proposed to be implemented beginning with the July 2009 contract month and the lower vomitoxin level will be implemented with the September 2011 contract month.

For more information, please see the exchange's Special Executive Report http://cmegroup.com/rulebook/rulechanges.html or the filing at http://www.cftc.gov/.

manager since 1979, these seminars are designed to help you avoid investment mistakes while you fine tune your long-term performance expectations. SFO subscribers receive a special 20 percent off the posted workshop rates, plus a free copy of Mr. Selengut's "book that Wall Street does not want you to read." Workshops are scheduled for Oct. 17, Nov. 14 and Dec. 12. Please make your arrangements directly with Mr. Selengut by e-mail (sanserve@aol.com) or telephone (800-245-0494).

Tuesday, March 10, 2009 at The Ritz-Carlton, Laguna Niguel, located in Dana Point, California.  The RMC, now in its 25th year, is an educational forum where institutional users of equity derivatives come to learn about new products, policies and systems to manage risk exposure and enhance yields.

WHAT: 25th Annual Risk Management Conference

WHEN: Sunday, March 8 through Tuesday, March 10, 2009

WHERE: The Ritz-Carlton, Laguna Niguel (located in Dana Point, CA, halfway between Los Angeles and San Diego)

HOSTS: Chicago Board Options Exchange (CBOE)& CBOE Futures Exchange (CFE)

CONTACT:

Telephone: Felicia Garcia, (312) 786-8310

E-mail:  institutional@cboe.com

Internet:  www.cboe.com/rmc

stands at 92.6, the highest since May 2008 when it was at 95.8. All component indices, which are used to track confidence in more targeted parts of the economy, rose in August as well.

The Investment and Future Confidence Indices, which rose by 12.0 and 11.9 points, respectively, led the gains. On the investment front, 52 percent of respondents said they expect capital spending at their company to stay the same. This is the highest percentage recorded since April 2007, which is an encouraging indication that CEO confidence is slowly improving.

Survey respondent Micah Johnson, CEO of the Entegy Group, noted, "I believe the economy is a little better than the media would have everyone believe. Overall, I believe we will continue to grow and the economy will improve."

Moreover, the Employment Confidence Index rose by just 8.2 points in August, and was the least improved index of all the components. Fewer than 7 percent of respondents said they would characterize employment conditions as "good", while over 42 percent said they would consider them "bad." Similarly, while just 11 percent of CEOs said they expect employment to rise over the next quarter, 46 percent think it will fall.

"This is the lowest level of bearish CEOs we've seen over the past six months," said Edward M. Kopko, CEO and Publisher of Chief Executive magazine. "However, while the index numbers are encouraging, the market remains soft and CEOs remain pessimistic about what the future holds."

Lag analysis of the Employment Confidence Index, which has been remarkably accurate at predicting employment trends for up to 6 months, shows that unemployment is expected to reach or surpass 6 percent in the coming months.

For additional information regarding the confidence of public- and private-company CEOs, details about CEO attitudes on employment, investment and business conditions, visit our full report at http://www.chiefexecutive.net/ceoindex.

conference that it will launch its popular E-mini S&P 500® futures denominated in euros beginning October 27.

The contract will enable market participants to gain access to the widely watched U.S. large cap stock index combined with the exposure to the euro currency in a single trading vehicle.

"The denomination of the contract multiplier in euros increases the relevance of our U.S. equity index products to our European customer base," said Robert Ray, Managing Director, CME Group International Sales, Equity and Commodity Products. "Customers throughout Europe want efficient exposure to U.S. equity markets and this product facilitates that as well as allows for new spreading opportunities between CME Group products and the listed derivatives traded in other markets."

"The Euro E-mini S&P 500 further extends the scope of our equity index product suite," said Scot Warren, Managing Director, CME Group Equity Products. "Building on the success of the E-mini S&P 500, which trades more than 2.2 million contracts per day, we believe our customers will benefit from the expanded opportunities the euro-denominated S&P 500 futures will provide."

The Euro E-mini S&P 500 will be offered exclusively on CME Globex®, the exchange's electronic trading platform. The value of the contract will be euro 50 times the S&P 500 Stock Index. Trading hours will run from Sunday to Thursday 5 p.m. to 3:15 p.m. the following day and then 3:30 p.m. to 4:30 p.m. For more information, please go to http://www.cmegroup.com/eurosp500.

now accessible directly from European-based NASDAQ OMX data centers. Likewise, NASDAQ OMX's Nordic and Baltic data products are now accessible directly from U.S.-based NASDAQ OMX data centers.

NASDAQ OMX's transatlantic delivery of its innovative European and U.S. data feed products alleviates the need for customers to use proprietary transatlantic networks to meet global, geographically diverse demand.

NASDAQ OMX is also in the process of consolidating data feed agreements, policies and procedures across markets to reduce the overall cost of market data administration. Our feed protocols and formats across the globe are also being streamlined to reduce the technical cost of market data consumption.

"NASDAQ OMX is committed to providing our global customers and investors with the highest quality data in the most efficient, cost-effective way possible," said Adena Friedman, NASDAQ OMX Executive Vice President. "As the capital markets become increasingly global, these are logical steps in ensuring that our customers have easy access to NASDAQ OMX data, regardless of location."

"This initiative will enable us to bring further benefits to European issuers and investors," said NASDAQ OMX Vice President Randall Hopkins. "The transatlantic delivery of these innovative European and U.S. data feed products will facilitate global investment in European companies which will, in the end, increase liquidity. European investors will be offered better information channels and thereby be able to make more well-informed investment decisions when they invest in NASDAQ-listed securities on the other side of the Atlantic."

ETN listings and assets under management.  As an industry leader in ETF and ETN listings and trading, exchange traded products listed on NYSE Arca represent 55% of ETF and ETN assets under management in the U.S., nearly $591 billion, the most of any exchange.

The Barclays GEMS Asia 8 Exchange Traded Note (ETN) applies the methodology of the Barclays Global Emerging Markets Strategy (GEMS) Asia 8 IndexTM, which reproduces the total return of long-only investing in 1-month synthetic money market deposits in eight Asian currencies. The index strategy is intended to replicate a diversified, multi-national money market strategy in eight Asian emerging market currencies, which include: the Indonesian rupiah, the Indian rupee, the Philippine peso, the South Korean won, the Thai baht, the Malaysian ringgit, the Taiwanese dollar and the Chinese yuan.

NYSE-listed Closed-End Fund (CEF) to convert into an ETF and then list on NYSE Arca. The Claymore/Raymond James SB-1 Equity ETF joins NYSE Arca under the ticker symbol “RYJ”.

As an industry leader in ETF and ETN listings and trading, exchange traded products listed on NYSE Arca represent 55% of ETF and ETN assets under management in the U.S., nearly $591 billion, the most of any exchange.

volume and OTC average daily commissions for the month of August 2008.

-- August 2008 average daily volume (ADV) for all ICE Futures contracts increased 5% to 753,998 contracts.

-- ADV at ICE Futures Europe(TM) was 536,054 contracts, up 3% over August 2007.

-- ADV at ICE Futures U.S.(TM) increased 12% to 208,632 contracts over August 2007.

-- ADV at ICE Futures Canada(TM) was 9,312 contracts, flat versus the prior August.

-- Average daily commissions for ICE's global OTC energy business rose 17% compared to August 2007 to $1.0 million, exceeding $1 million for the eighth consecutive month.

European Futures Volume and RPC

For August, ICE Futures Europe reported ADV of 536,054 contracts, up 3% over ADV of 521,339 in August 2007. Total volume for the month was 11,257,133 contracts, compared to 11,990,805 contracts in August 2007.

The three-month rolling average rate per contract (RPC) for the period ended August 2008 was $1.22. RPC averaged $1.21 for the three-month periods ended July 2008 and June 2008. RPC is calculated by dividing transaction revenues by contract volume, and can vary based on pricing, customer and product mix.

On August 31, 2008, open interest for ICE Futures Europe was 1,952,776 contracts, compared to 1,641,399 contracts at December 31, 2007.

North American Futures Volume and RPC

In August 2008, ADV at ICE Futures U.S. rose 12% to 208,632 contracts, compared to 186,284 contracts in August 2007. Total futures and options volume at ICE Futures U.S. increased 2% to 4,381,270 contracts, compared to 4,284,552 contracts in August 2007.

The three-month rolling average RPC for the three months ended August 2008 was $2.23 for agricultural futures and options. RPC averaged $2.22 and $2.21 for the three-month periods ended July 2008 and June 2008, respectively.

On August 31, 2008, open interest for ICE Futures U.S. was 3,317,984 contracts, compared to 3,389,923 contracts at December 31, 2007.

ICE Futures Canada recorded August 2008 ADV of 9,312 contracts, which was flat versus the prior August. Total contract volume for the month was 186,238 contracts, a decline of 9% from August 2007.

On August 31, 2008, open interest for ICE Futures Canada was 99,019 contracts, compared to 168,928 contracts on December 31, 2007.

Global OTC Markets

In August 2008, ICE's average daily commissions were $1,026,232, an increase of 17% compared to $875,032 in August 2007. Average daily commissions reflect daily trading activity in ICE's global OTC energy markets.

Historical futures volume and OTC commission data can be found at: http://ir.theice.com/supplemental.cfm

contract (mini$ DAX® future). The new contract carries a $10 multiplier, enabling U.S. market participants to gain exposure to Germany's leading stock market index in a cost-effective fashion without currency exposure. The mini$ DAX® future will be available for trading beginning October 1, 2008.

DAX®, comprising the 30 largest and most liquid German blue chips traded at the Frankfurt Stock Exchange, is the most commonly cited benchmark for measuring the performance of the German economy. Germany is the largest economy in Europe and the world's third largest economy in USD exchange rate terms.

"The mini$ DAX® futures contract is the result of feedback from participants seeking economic exposure to German financial markets," said John Spiegel, CEO at U.S. Futures Exchange. "Our research indicates that the global trading community sees value in a mini-sized DAX® contract. U.S.-based traders will appreciate access to German markets without additional exchange rate risk."

The new mini$ DAX® futures contract will be open for trading on USFE's electronic trading platform 23 hours a day. Through an extensive market development program, USFE has been able to secure a robust group of market makers for U.S. and European hours and identified significant market participant interest.

"We are excited about the new market opportunities this product will offer. We appreciate the innovation at USFE and look forward to trading the product," said Ethan Kahn of Wolverine Trading.

upon the S&P/Case-Shiller Home Price Indices. The first of several exchange listed products linked to U.S. housing are anticipated to begin trading on the NYSE/Arca this fall and will reference the S&P/Case-Shiller Composite-10 Home Price Index.

The S&P/Case-Shiller Home Price Indices, launched in 2006, are constructed to track the price path of typical single-family homes using the repeat sales technique developed by Karl Case and Robert Shiller. This index family currently consists of 20 regional indices and two composite indices as aggregates of the regions. Additionally, the S&P/Case-Shiller U.S. National Home Price Index represents home prices from all 9 U.S. Census Divisions, drawing from over 100 of the largest metropolitan areas and nearly 500 counties.

The S&P/Case-Shiller Composite 10 Home Price Index is a weighted composite index of home prices in ten major metropolitan areas (Metropolitan Statistical Areas, or MSAs). The ten MSAs include Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York Commuter Index, San Diego, San Francisco and Washington D.C.

For more information on the S&P/Case-Shiller Home Price Indices, please visit: www.homeprice.standardandpoors.com.

NASDAQ OMX Europe's pricing will consist of two pricing models -- one for routing orders and one for matching orders. The routing technology will allow participants to send orders to NASDAQ OMX Europe's order book, which if unmatched, will route out to other MTFs and exchanges for execution.

This will make it less expensive for most professional firms, as well as those firms who do not already have access to the European primary markets and MTFs, to trade through NASDAQ OMX Europe. The revised routing pricing will include an all inclusive fee of 0.65 basis points (bps) to trade on the London Stock Exchange.

Charlotte Crosswell, President of NASDAQ OMX Europe commented, "We are excited to launch an aggressive pricing strategy that will, in most cases, make it less expensive to route an order through our market than to trade directly on the primary markets. By routing through NASDAQ OMX Europe, we will offer the opportunity to access liquidity on our own order book as well as a greater likelihood of gaining best execution and price improvement at a lower cost."

The pricing for matching orders will follow a "maker/taker" model which will see it provide a rebate of 0.2 bps of the order value for participants who add liquidity on the market by posting sale or purchase orders on the book, and charge 0.3 bps for participants who remove liquidity from the market, or match orders on the book.

Full details of the NASDAQ OMX Europe pricing structure can be seen on the website at: www.nasdaqomxeurope.com/participation/fee_schedules.

Biotech Portfolio Sept. 18, 2008, on the Nasdaq Stock Market.

· PBTQ – PowerShares Global Biotech Portfolio

“We believe the PowerShares Global Biotech Portfolio will provide investors transparent, tax-efficient access to the largest and most advanced biotechnology companies in the world using the benefit-rich ETF structure,” said Bruce Bond, president and CEO of Invesco PowerShares. “PBTQ should be a great addition to our growing suite of global ETF portfolios.”  

The PowerShares Global Biotech Portfolio (PBTQ) is based on the NASDAQ OMX Global Biotech IndexSM. The Index is designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in the biotechnology industry. The Index is rebalanced quarterly using a modified market capitalization-weighting methodology.

Index Company Weightings as of 6/30/2008

PowerShares Global Biotech Portfolio (PBTQ)

Company Index  Weight (%)

Amgen Inc. 8.00

Gilead Sciences Inc. 8.00

GenenTech 8.00

Celgene Corp. 8.00

Genzyme Corp. 8.00

CSL Ltd. 4.00

Biogen Idec Inc. 4.00

Actelion Ltd. 4.00

Vertex Pharmaceuticals Inc. 4.00

Cephalon Inc. 3.87

premier Japanese derivatives and securities exchange, today announced that they have signed a memorandum of understanding to pursue opportunities to jointly develop products and services that will benefit market users globally.

"We are pleased to enter into this MOU with OSE and begin a formal dialogue between our exchanges," said CME Group Executive Chairman Terry Duffy.

"Under this agreement, we expect to create additional trading opportunities and increase access to more m