Paris, September 10, 1998 -- The Chicago Mercantile Exchange (CME) has set a September 20 launch date for its new electronic trading system.

This system, called Globex₂, is based on the NSC system used by the SBF-Paris Bourse to handle its complete range of products, equities, equity options, interest rate derivatives.

Globex₂ was adopted by CME as part of an innovative software swap under which the Paris Bourse provided the CME with the NSC system in exchange for Clearing 21, a clearing system developed jointly by the CME and the New York Mercantile Exchange.

"The SBF Group is delighted that its NSC system will soon be up and running on one of the world's largest futures market. Matif, the French futures market, has been working closely with the CME since the early 1990s, and existing links will be strengthened by this alliance, which allows joint members to trade in a broader range of products using a shared technology. Our two markets are also looking into new ways to upgrade service to members," said Jean-François Théodore, chairman of the SBF Group and Matif SA.

Matif members will gain access to all electronically traded CME contracts that is, in a first step, to the E-mini S&P 500 which is traded on electronic around the clock; products traded by open outcry will be added to the electronic system after CME pit trading hours. In exchange, CME members will have direct access to all Matif products on NSC. For traders, benefits include single-screen access to both markets' products, which will facilitate spread strategies, notably between CME's Eurodollar contracts and Matif's 3-month Euribor.

CME's Globex₂ network will be connected to the 400 NSC terminals already in operation around the world, significantly expanding Matif's reach in North America.

The NSC system has already been sold to a dozen equity and derivatives markets outside France, including Sao Paulo, Toronto and Brussels.

Contact:
A. Bouvier-Darpy - Tel. +33/1 40 28 83 89
N. Boschat - Tel. 0171 332 5920