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Asset mAnAgers

Advancing your investment opportunities


Choosing where to implement your strategy has never been easier.

How the world advances

enhancing Opportunity. streamlining risk management.


CME Group is a Partner to the Asset Management Industry.
Responsible for the growth and security of more than $100 trillion in individual and institutional assets worldwide, the asset management industrys importance in global financial markets has never been greater. And as world financial markets experience increasing volatility and uncertainty, asset managers around the globe rely on CME Group as their partner and premier source for accessing market opportunities and managing risk. CME Group is the worlds leading and most diverse financial marketplace providing you with the credit risk reduction, liquidity, products and speed you need to meet your business objectives and achieve your clients financial goals. We offer transparency, anonymity and, more importantly, the proven security of central counterparty clearing. As the worlds leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.

Liquidity that Drives Opportunity


In 2010, our diverse universe of global market participants, including asset managers, banks, commodity trading advisors (CTAs), hedge funds, active individual traders, multinational corporations, pension funds and proprietary trading firms traded more than two billion contracts across asset classes on the CME Globex platform. This liquidity translates into your ability to execute complex investment strategies efficiently and to get in and out of large positions quickly.

Proven Credit security


When managing a clients assets, effective risk management is more than a business imperative, its your fiduciary responsibility. With approximately $8 billion in financial safeguards* to contain systematic risk, CME Clearing has over a century of risk management experience without a default of a clearing firm. CME Group uses a central counterparty clearing model, where counterparty credit risk is shared among clearing members. This allows the central clearing house to guarantee the performance of every transaction and the security of every clearing members customer. By being at the center of every transaction we clear, we can protect everyones interests and ensure the integrity of the market.

Anonymous trading Environment


CME Group delivers equal access to markets and pricing information for all participants. The complete book of prices is visible to every customer and transaction fees are fully disclosed. Further, this anonymity gives you the ability to execute large orders without broadcasting your strategy or move to the greater market.

The Widest range of Products


These include products based on the entire U.S. interest rate yield curve, equity indexes, FX, agricultural commodities, energy, metals and alternative investments. Many of our largest futures and options contracts serve as benchmarks for investors worldwide. As a proven leader in product innovation, our experts develop new contracts specifically suited to the needs of asset managers. Our latest innovation: providing clearing services through CME ClearPort to deliver the security of CME Clearing to over-the-counter (OTC) transactions.

superior technology
The CME Globex electronic trading platform offers single source access to the broadest array of futures and options products available on any exchange, virtually around the clock. The CME Globex platform is one of the most efficient and robust electronic platforms available today, capable of handling more than six billion trades a month with an estimated average 5- to 7-millisecond response time.

* Financial safeguards level cited as of March 31, 2011.

CME Clearing

HoLDInG
$8 BILLION*

$80 billion
of collateral on deposit

in financial safeguards

Nearly $1 Quadrillion annual notional value

aVEraGE
DAILY VOLUME

IN OVER 100 YEARS


no customer has lost funds due to counterparty default

Open Interest:

84,987,424
contracts

12,166,546

> 3,000,000,000
futures and options traded in 2010
CME ClearPort

> 1,000
contracts available

FOR CLEARING

mOre tHAn
10,000 REGISTEREd USERS

500,000
contracts DaILy

MorE tHan

AROUNd ThE WORld


* Financial safeguards level cited as of March 31, 2011.

the security to Clear with Confidence. the Flexibility, Control and Choice of OtC.
CME Clearing
People who buy and sell futures contracts on a CME Group exchange do not buy and sell directly to one another. They actually buy contracts from and sell contracts to a clearing house, which stands between all trades to ensure that the obligations involved in the trades are made good. By serving as the buyer to every seller and the seller to every buyer, the clearing house virtually eliminates credit risk for each market participant. In its more than 100-year history, there has never been a failure by a CME Clearing member to meet a performance bond call or its delivery obligations, nor has there been a failure of a clearing member firm resulting in a loss of customer funds. By marking positions to market twice each day, CME Clearing helps to limit the accumulation of losses or debt helping each customer manage their risk as well as containing risk for the market as a whole. CME Clearing is available 24 hours a day, six days a week. It has helped customers manage risk during periods of unprecedented derivatives industry growth and times of economic uncertainty. CME ClearPorts capabilities range from clearing OTC transactions to reporting Exchange for Physical (EFPs) and Block Trades of our standard listed products. CME ClearPort offers more than 1,000 OTC contracts for clearing transactions and an array of clearing services that allow us to tailor our services to the needs of our customers.

CME ClearPort
CME ClearPort is a comprehensive set of flexible solutions for substantially mitigating counterparty credit risk for OTC transactions. The open-access, platform-agnostic structure of CME ClearPort means you have access to a post-execution clearing service that lets you negotiate your own prices privately, conduct business off-exchange and control how, with whom and on what terms you trade all while enjoying the benefits of increased security, efficiency and confidence associated with CME Clearing.

More than 500,000 contracts cleared daily. Brings together more than 10,000 registered users commercial, banking, hedge funds, trading entities, IDBs, FCMs and clearing firms. Features more than 1,000 products available for clearing. CME Clearing marks-to-market twice daily, limiting accumulation of debts/losses. Customer segregation offers protections for our regulated futures products and many OTC products under which your funds are not subject to creditor claims against your own clearing firm should it become financially unstable or insolvent.

Multilateral netting helps you gain capital efficiencies and decrease your credit exposure. Your choice of execution is preserved.

For more information on the services and products available to asset managers, please visit cmegroup.com.

Opportunities Across All major Asset Classes.


Asset managers can find nearly endless trading opportunities across all major asset classes on the CME Globex platform. Growing volume and deep liquidity deliver tight bid/ask spreads, increased market volatility and the depth of book to support even the most complex market strategies. The widest range of products available in a single marketplace, CME Group markets give asset managers opportunities to trade the U.S. interest rate yield curve, equity indexes, FX, agricultural commodities, energy, metals and alternative investments. Many of our largest futures and options contracts serve as benchmarks for investors worldwide.

interest rAtes

CME Group is the worlds leading marketplace for trading short-, medium- and long-term interest rate derivative products. Spanning the entire U.S. dollar-denominated yield curve, our products include futures and options on the most widely followed U.S. interest rate benchmarks: Eurodollars, U.S. Treasury securities, 30-day Fed Funds and Interest Rate swaps.

Interest Rate Futures and Options


In todays markets, managing complex interest rate exposures requires an even greater emphasis on managing your counterparty credit risk. Thats why our customers have made our Interest Rate markets some of the deepest and most liquid futures markets across the globe. Along with benchmark contracts, centralized liquidity, transparent electronic trading and mitigated bilateral credit risk, our Interest Rate products offer asset managers significant operational and balance sheet efficiencies beyond those of OTC transactions. From 30-day Fed Funds to Ultra Treasury Bonds, CME Group Interest Rate futures and options allow asset managers to manage exposure and find opportunities that span the entire yield curve. And to meet institutional trading needs, CME Group offers Block Trades for Eligible Contract Participants (as defined in the Commodity Exchange Act) for specified products, subject to minimum transaction size requirements, which vary according to the product, the type of transaction and the time of execution. Block Trades may be executed at any time at a fair and reasonable price.

Cleared OTC IRS


CME Group has been working in close collaboration with premier swap dealers, clearing firms and buy-side participants to create a real-time, open-access clearing solution for OTC Interest Rate swaps (IRS). Preservation of Key OTC Market Practices Maintains current execution processes, affirmation platforms and product economics of bilateral OTC contracts. Allows for customization of Interest Rate swap products by keeping swaps as OTC products, and supporting flexible effective dates, maturity dates and fixed-leg coupon rates. Operational Flexibility Provides an open-access solution, which integrates into existing OTC infrastructure and extends across asset classes. Offers the ability to negotiate, execute and submit trades through multiple venues to CME Clearing, including Bloomberg VCON, MarkitSERV and TradeWeb. Customer Protections Protects customers through proven legal safeguards of U.S. bankruptcy law and CFTC Part 190 Bankruptcy Regulations. Capital Efficiencies Seeking CFTC permission to allow customer capital efficiencies via cross margining of OTC products with

LEading inTErEsT raTE FuTurEs and OPTiOns:

benchmark Treasury and Eurodollar futures.

Eurodollar futures and options (GE) 2-Year Treasury Note futures and options (ZT) 5-Year Treasury Note futures and options (ZF) 10-Year Treasury Note futures and options (ZN) U.S. Treasury Bond futures and options (ZB) Ultra Treasury Bond futures and options (UB)

Cleared OTC Products Available:


To view the latest product offering, visit cmegroup.com/irs.

Online Interest Rate Resources


Pace of the Roll tool cmegroup.com/ratesroll FedWatch tool cmegroup.com/fedwatch Empirical duration tool cmegroup.com/duration Yield Center cmegroup.com/yield

eQUitY

Encompassing the worlds leading index providers, our broad portfolio of equity index futures and options helps asset managers manage risk and access volatility and correlations in the worlds leading equity markets. We offer the strongest representation of leading index providers with unmatched liquidity, choice and transparency for trading across the entire equity capitalization spectrum in the U.S., Europe and Asia helping make CME Group the worlds largest equity index derivatives marketplace.

Equity Futures and Options


Our lineup includes the largest selection of equity index contracts available at any exchange: Standard & Poors, NASdAQ, dow Jones, Nikkei and FTSE . On the trading floor and on CME Globex, every

Custom Index Futures


designed to help asset managers and other institutional clients address custom equity exposure needs, custom index futures combine the capital efficiency and security of index futures with the flexibility of equity index swaps. Based on your customized equity market exposure need (meeting a non narrow-based index criteria), CME Group will help arrange an index calculation agent to create and administer a custom index, and then will list futures contracts on the index.

participant can execute complex strategies in deep, active liquidity pools without impacting the market.

LEading EquiTy FuTurEs and OPTiOns:

E-mini S&P 500 futures (ES) E-mini S&P 500 options (ES) S&P 500 futures (SP) E-mini NASDAQ-100 futures (NQ) E-mini Dow $5 futures (YM) E-mini S&P MidCap 400 futures (EMD) Nikkei 225 (USD) futures (NKD)

A Complete Solution that Includes Third-party Index Calculation Services


Our relationships with leading global index providers enable us to help arrange third-party services for calculation and administration of custom indexes. That includes the expertise and resources of dow Jones Indexes, a CME Group company, for creating custom indexes tailored to suit special indexing needs. learn more about Custom Index futures services at cmegroup.com/cif.

Online Equity Resources


Pace of the Roll tool cmegroup.com/rollpace Equity Index research center cmegroup.com/equityindexresearch

AgriCULtUre

Agriculture continues to be a popular investment for portfolio diversification due to its low correlation to a traditional portfolio. In fact, over the past three years, returns on agricultural commodities compared to equities returns had only a 17 percent correlation.

Agriculture Futures and Options


CME Group offers the widest range of agricultural futures and options of any U.S. exchange, with trading available on a range of grains, livestock, oilseeds, dairy, lumber and other products. These products are the staples of everyday life and represent the origins of the earliest forward and futures markets. Prices of these primary products are subject to factors that are difficult or impossible to control, such as weather, disease and political decisions. In addition, they are also short-term, fixed-supply products offered in a context of growing worldwide demand and global economic expansion. As such, CME Group Agriculture products serve agricultural producers and users seeking risk management and hedging tools, alongside funds and other traders looking to capitalize on the extraordinary opportunities these markets offer.

Cleared OTC Agriculture


Cleared OTC agricultural markets allow you to trade off-exchange through your preferred execution venue, negotiate your own prices and then come to CME ClearPort to access significant risk management and financial benefits. Enhanced Efficiency CME ClearPort replaces the significant time and expense of documentation with real-time trade confirmations and straight-through processing. access to independent, daily Valuations CME ClearPort gives you access to neutral settlement prices while our daily mark-to-market process enables you to track positions accurately and assess risk. Customer Position and Margin Protection In the event of a clearing member default, a regulatory segregation and portability framework is in place. Capital and Operational Efficiencies Multilateral netting and cross-margining allow for operational efficiencies and more

LEading agriCuLTurE FuTurEs and OPTiOns:

efficient capital allocation.

Corn futures (ZC) Soybeans futures (ZS) Wheat futures (ZW) Soybean Oil futures (ZL) Live Cattle futures (LE) Lean Hogs futures (HE)

Cleared OTC Products Available:


In response to the increased volatility of agriculture markets, CME Group now offers NYMEX Soft Commodity futures, Commodity Index Funds and the first-ever suite of centrally cleared grain and oilseed swap products. CME Groups extensive agricultural products suite enables users to better manage price and basis level risk through tailored hedges and central clearing. s&P gsCi gold Excess return index swaps Gold, forward, 2-Month forward, 3-Month forward and Crude Oil dow Jones-uBs Commodity index swaps 2-Month forward and 3-Month forward Cleared OTC Basis swaps Eastern Nebraska, Eastern South dakota, Northeastern Iowa, Northwestern Iowa, Southern Iowa and Southern Minnesota Cleared OTC Calendar swaps Corn, Soybean and Wheat

Online Agriculture Resources


Agriculture Markets Update cmegroup.com/agupdate
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energY

NYMEX is a part of CME Group and we are offering asset managers greater access, deeper liquidity, more security and more opportunity in the energy markets. By adding the energy suite of products to our wide range of benchmark products representing every major asset class, CME Group helps asset managers manage risk and profit potential from the volatile trading of the energy markets.

Energy Futures and Options


Our Energy markets are the largest in the world and the marketplace the industry uses to manage risk and maximize opportunity. It is a leadership position that has supported an average daily volume exceeding 1.7 million contracts.

straight-Through Processing (sTP) CME Group offers the increased operational efficiency of STP across our multiple exchanges and trading venues, which allows you to receive cleared trades directly into your risk systems without manual re-entry. global access and Participants Market participants who are registered on CME ClearPort are instantly able to trade with more than 14,000 registered users around the world no need to set up credit lines with individual counterparties.

LEading EnErgy FuTurEs and OPTiOns:

Crude Oil futures and options (CL) Natural Gas futures and options (NG) RBOB Gasoline futures and options (RB) Heating Oil futures and options (HO) Electricity futures and options (JM)

Cleared OTC Products Available:


CME ClearPort currently offers clearing services for more than 1,000 energy contracts. natural gas Outrights, basis swap futures, index swap futures, swing swap futures and options Crude Oil Outrights, spreads and options Petroleum Products North American, European and Asian outrights, cracks, spreads and options

Cleared OTC Energy


CME ClearPort Energy capabilities range from reporting Exchange for Physical (EFPs) and Block Trades of our standard listed products to clearing that converts or substitutes an OTC instrument into a cleared futures or options contract. Protection Only CME Group offers the security of segregated customer funds. Our OTC Energy transactions clear as futures, so they have the same bankruptcy protections as a listed futures contract. Transparency Since 2002, CME ClearPort has been providing global customers with a transparent OTC energy clearing service, including transparency of settlements and open interest along the entire curve. Enhanced Efficiency Only CME Group offers more than 3,000 potential margin offsets across the global energy spectrum of NYMEX products increasing your flexibility and capital efficiencies.

Electricity PJM, Western Power, NYISO, MISO, ISO and ERCOT swap futures and options ngLs/Petrochemicals NGl, Olefins and Plastic swap futures and options Ethanol Outrights, swap futures and Cleared OTC swaps Environmental Commodities CO2, SO2, NOX futures and options Freight FFAs and futures Coal Futures and options

Online Energy Resources


Energy Market Update cmegroup.com/energyupdate

metALs

NYMEX and COMEX are a part of CME Group and we are offering asset managers greater access to the metals markets with deeper liquidity, greater security and more opportunity. By adding the metals suite to our wide range of benchmark products representing every major asset class, CME Group provides risk management tools for asset managers to manage their precious, base and ferrous metals risk.

Metals Futures and Options


Offering many of the benchmark contracts in this asset class including Gold, Silver, Platinum, Palladium, Copper, U.S. hot-Rolled Coil Steel and E-mini contracts on Gold, Silver, Copper and more CME Group Metals markets realize an average daily volume of more than 300,000 futures and options contracts traded. Our Metals markets are the most liquid in the world for these products, which translates into tight bid/ask spreads and high-quality trade executions in products that help meet a variety of customers business and risk management objectives. It is a leadership position that has supported record year-over-year volume.

Cleared OTC Metals


CME ClearPort offers an array of clearing choices for metals including Exchange for Physical (EFPs) and Block Trades cleared as standard futures, OTC traded and subbed to cleared futures, and OTC transactions centrally cleared as OTC contracts. Enhanced Efficiency CME ClearPort replaces the significant time and expense of documentation with real-time trade confirmations and straight-through processing. access to independent, daily Valuations CME ClearPort gives you access to neutral settlement prices, while our daily mark-to-market process enables you to track positions accurately and assess risk. straight-Through Processing (sTP) CME Group offers the increased operational efficiency of STP across our multiple

LEading METaLs FuTurEs and OPTiOns:

exchanges and trading venues, which allows you to receive cleared trades directly into your risk systems without manual re-entry.

Gold futures and options (GC) Silver futures and options (SI) Copper futures and options (HG) Platinum futures and options (PL) Palladium futures and options (PA)

Cleared OTC Products Available:


CME ClearPort offers clearing services for precious, base and ferrous metals. gold Futures, options and Cleared OTC london Gold forwards silver Futures and options Copper Futures and options Platinum Futures and options Palladium Futures and options iron Ore 62% Fe, CFr China (Tsi) Swap futures iron Ore 62% Fe, CFr north China (Platts) Swap futures u.s. Midwest domestic Hot-rolled Coil steel Index futures

FX

With approximately $4 trillion traded daily, FX markets represent the largest asset class in the world. As you look to diversify your portfolio with international assets, manage the value of the U.S. dollar relative to other currencies or take advantage of your existing algorithmic trading strategies, CME Group can deliver the products, liquidity, tight bid/ask spreads, transparency and credit risk reduction to manage your global currency exposure.

FX Futures and Options


With recent record-setting trading, liquidity in our FX futures and options continues to grow. Today, our markets see more than $100 billion in daily liquidity, making CME Group the worlds largest regulated FX marketplace and one of the top two FX platforms in the world. We provide trading of more than 54 futures contracts and 31 options contracts based on approximately 20 global currencies, including major and emerging-market currencies, E-mini FX futures that are roughly 1/2 the size of our standard contracts, and E-micro contracts that are 1/10th the size of our standard contracts. So, no matter who your clients are, you can be sure there is a CME Group FX contract that will suit their trading needs.
LEading FX FuTurEs and OPTiOns:

EUR/USD futures and options (6E) JPY/USD futures and options (6J) GBP/USD futures and options (6B) CHF/USD futures and options (6S) CAD/USD futures and options (6C)

Online FX Resources
Pace of the Roll tool cmegroup.com/fxrollpace CME E-quivalents cmegroup.com/equivalents

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CreDit

Cleared OTC CDS


The CME Group Cleared OTC CdS solution builds on the existing OTC market with ISdA-based CdS contracts that offer flexibility and security in an increasingly complex and regulated market. Enhanced Efficiency With straight-through processing. Customer Position and Margin Protection In the event of a clearing member default. immediate Trade Confirmation In real-time throughout the day, providing immediate cleared trade confirmation and reducing credit exposure. Backloading of Legacy Positions Simplifying the movement of bilateral positions into cleared trades. Capital and Operational Efficiencies Multilateral netting and cross-margining allows for operational efficiencies and more efficient capital allocation.

Cleared OTC Products Available:


The Cleared OTC CdS products include the highest volume Markit CdX indexes and their single-name constituents. They adhere to ISdA dC resolutions and are designed to mirror bilateral OTC contracts with standardized fixed coupons. The OTC CdS products are eligible for participation in ISdA auctions. CME Clearing supports trade submission, enabling connectivity from any affirmation, confirmation or trading platform. CdX ig 12 and ig 13 5-year tenor Cleared OTC CdS product scope Cds index Products 3-year, 5-year, 7-year and 10-year tenors CdX ig Series 10 and higher CdX Hy Series 11 and higher CdX HVOL Series 10 and higher CdX naig Series 12 and 5-year tenor single name Constituents of the CdX indexes, Plus select Liquid single names IMM maturity dates up to 10 years

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a dedicated Partner.
CME Group has a team dedicated to serving the unique needs of asset managers. This team is ready to assist you with product information and research, establishing the most cost-effective way for you to trade and providing access to historic market data and newly published educational tools and strategy papers.

CME Group Asset Management Team


Phillip Hatzopoulos phillip.hatzopoulos@cmegroup.com +1 312 930 3018 director, Client development and Sales Asset Managers Chicago David Lerman david.lerman@cmegroup.com +1 312 648 3721 director, Client development and Sales Asset Managers Chicago Elizabeth Flores elizabeth.flores@cmegroup.com +1 312 338 2801 director, Client development and Sales Asset Managers Chicago Frank mineo frank.mineo@cmegroup.com +1 212 897 5287 Associate director, Client development and Sales Asset Managers New York

Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged investment, and because only a percentage of a contracts value is required to trade, it is possible to lose more than the amount of money deposited for a futures position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade because they cannot expect to profit on every trade. All references to options refer to options on futures. CME Group is a trademark of CME Group Inc. The Globe logo, CME, Chicago Mercantile Exchange and Globex are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. New York Mercantile Exchange and NYMEX are registered trademarks of the New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. , dow Jones is a registered trademarks of dow Jones & Company, Inc. FTSE is a trademark jointly owned by the london Stock Exchange and the Financial Times limited. These marks are licensed for use by CME. NASdAQ and NASdAQ-100 are trademarks of The Nasdaq Stock Market, Inc., used under license. Nikkei and Nikkei 225 are trademarks of Nihon Keizai Shimbun Inc. and have been licensed for use by Chicago Mercantile Exchange Inc. Standard & Poors, S&P, S&P 500 and S&P 400 Midcap Index are trademarks of The McGraw-hill Companies, Inc., and have been licensed for use by Chicago Mercantile Exchange Inc. S&P GSCI is a trademark of Standard & Poors. All other trademarks are the property of their respective owners. Copyright 2011 CME Group. All rights reserved.

CME grOuP HEadquarTErs

CME grOuP rEgiOnaL OFFiCEs

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