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Eurex US

www.eurexus.com

Background

Eurex US is a Chicago-based future trading exchange with connection points across the globe, ensuring smooth, seamless trading access world-wide. Launched early in 2004, Eurex US offers 23-hour trading in Russell 1000® and Russell 2000® Index futures, U.S. Treasury notes and bonds futures, and beginning in September 2005, foreign exchange futures.* Eurex US's goal is to provide transparent, liquid contract markets for each of its customers to utilize for risk management, price discovery, and investment purposes.

Eurex US is a partnership between U.S. Exchange Holdings, Inc., and Exchange Place Holdings, LP. Drawing from the experience of unprecedented international success and the collaboration of a wide segment of U.S. industry participants, Eurex US is well positioned to serve the U.S. derivatives industry effectively and responsively.

Products

Now you can trade one of the most actively traded financial products in the world-with almost USD 1.5 trillion daily turnover-on the world's most popular electronic futures trading system! Eurex US, the U.S. subsidiary of Eurex, offers you a direct, low cost way to diversify your foreign exchange trading.

Dollar Pairs and Cross-Currency Contracts

With the U.S. Dollar the most actively traded currency in the world, Eurex US offers you the opportunity to trade it against the:

* USD being the delivery currency

We also offer the following commonly traded cross-currency contracts, which provide the chance to exploit interesting arbitrage opportunities:

A Marketplace That Serves You Better

Eurex US FX Market Makers provide streaming prices across all time zones, ensuring order book liquidity. Major brokerage firms as well as investors and fund managers are committed to routing orders to Eurex US so that all market participants can benefit from the liquidity of our contracts.

FX Contracts that Fit the Real World

Eurex US's futures call for a generously-sized delivery of 250,000 units of the respective currency.

Because Eurex US FX contracts mirror the cash market, the delivery currency and the pricing currency are specified the same way as cash market prices. Click here for the contract specifications of Eurex US FX products.

While FX futures positions are usually offset with opposite trades before the contract expires, FX deliveries on Eurex US follow normal cash market practices. Deliveries on all contracts occur two days after the contract expiration through the international Continuous Linked Settlements (known as CLS) system, except the Canadian dollar/U.S. dollar contract, in which delivery occurs three days after expiry.

Managed Trading Risks

The Clearing Corporation (CCorp) clears and settles all trades on Eurex US, using time-tested procedures and up-to-date financial methods.

Exchange For Physicals Trading

EFP (Exchange For Physicals) trades can be privately negotiated, with only nominal surcharges. Eurex US offers an EFP facility through CCorp's ACT system. The futures trading transaction is entered directly into CCorp's system for clearing and settlement. Click here for more information about EFP trades on Eurex US.

Low Cost Trading

At Eurex US, futures trading is conducted anonymously and efficiently for significantly lower rates than available on other exchanges. Eurex US transaction fees-10 cents per side for members and 50 cents per side for customers' orders and EFPs-are extremely competitive. In light of the size of the contract (250,000 units), exchange fees will not exceed USD 2 per 1 million units of currency traded.

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