Third Quarter Quarterly FX Review. A Global Trading Summary of FX Futures and Options Highlights Futures Options. How the world advances

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1 FX Third Quarter 212 Quarterly FX Review A Global Trading Summary of FX Futures and Options»» Highlights»» Futures»» Options How the world advances

2 As the world s 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. FX Products Designed for the Rapid Pace of a Global Marketplace. CME Group offers the world s largest regulated FX marketplace and one of the top FX platforms with more than $12 billion in daily liquidity. We offer transparent pricing in a regulated centralized marketplace that provides all participants equal access to 56 futures contracts and 31 options contracts based on 2 major world and emerging market currencies. Trading FX at CME Group gives you effective and efficient investment and risk management opportunities and unprecedented access to a global array of market participants including banks, hedge funds, proprietary trading firms and active individual traders. Additionally, we continue to roll-out comprehensive and flexible clearing services for OTC FX trades through CME ClearPort an open-access, platform agnostic, post-execution clearing solution.

3 HIGHLIGHTS September 212 Overall Third Quarter Highlights CME Group FX volume averaged 846,344 contracts per day in Q3, reflecting average daily notional value of $14 billion. In the month of September, CME Group FX volume averaged $128 billion in daily liquidity, surpassing the largest cash FX ECN as the leading FX trading platform. September 14, 212 marked record open interest across our FX futures and options contracts, reaching 2,386,497 contracts, an increase of 3.3% over a previous OI record set on June 7. Q3 FX open interest records were set in AUD/USD, CAD/USD and MXN/USD contracts. Also towards the end of September: CME Group FX reached a record number of 866 large open interest holders across our 1 largest FX futures and options contracts. These numbers indicate a growing trend of institutional customers turning to our markets for the liquidity, counterparty credit risk mitigation and comprehensive product and execution choice available there. This contrasts with bilateral OTC markets, which have continued to see declining volumes and participation. FX quarterly average daily volume (ADV) records were set in E-micro EUR/USD futures with 7,32 contracts and E-micro CAD/USD futures with 2 contracts traded per day. Third Quarter Announcements USD/CNH Futures to Launch February 25, 213 Physically delivered contracts on offshore Chinese Renminbi (CNH) The Chinese Renminbi or RMB has experienced rapid growth in deposit and trading volume both onand off-shore. To address the emerging needs for flexible, capital risk-management tools on the Chinese currency, we are enhancing our comprehensive RMB product offering with futures on CNH (off-shore RMB deliverable through Hong Kong). Key Features Represents the deliverable off-shore Chinese RMB (CNH) market Physically delivered Quoted in standard interbank FX / European terms Daily pays and collects calculated and banked in CNH Block-eligible for standard-size contracts, with maturities out 3 years Offered in Standard and E-micro sizes: o Standard contracts: Based on USD 1, o E-micro contracts: 1/1 the standard contract size, based on USD 1, For more on the RMB offerings at CME Group, visit cmegroup.com/rmb FX EFP Fee Incentive Program Offers Potential Savings of Up to 25%-75% on Fees Qualifying participants may be eligible for significantly reduced fees on FX exchange-for-physical (EFP) transactions on standard-size FX futures and options contracts. The program, which is effective October 2, 212 through the end of 213, features progressive tiers of EFP fee reductions for participants achieving monthly ADV thresholds (excluding blocks). Learn more at cmegroup.com/fx or cmegroup.com/efp 2

4 FX Quarterly Update Third Quarter 212 Futures Average Daily Volume Open Interest ADV $Notional Open Interest O.I. $Notional Price Close YTD 2 Day Hist. ADV Contracts ($millions) Contracts ($millions) Jun-'12 Price Return Volatility EUR/USD E-micro Euro 7,32 $115 2,963 $48 E-mini Euro 4,243 $333 5,898 $ % 8.76% Euro 258,78 $4, ,558 $34,532 Euro Total 27,271 $41,17 223,419 $35,54 JPY/USD E-micro Japanese Yen 134 $2 312 $5 E-mini Japanese Yen 374 $3 1,296 $ % 7.3% Japanese Yen 84,796 $13,55 145,888 $23,43 Japanese Yen Total 85,34 $13, ,496 $23,512 GBP/USD E-micro British Pound 1,73 $ $1 British Pound 16,827 $1,56 174,98 $17, % 4.2% British Pound Total 18,557 $1, ,928 $17,654 CAD/USD E-micro Canadian Dollar 2 $2 381 $4 Canadian Dollar 95,747 $9, ,817 $2, % 6.26% Canadian Dollar Total 95,948 $9,626 2,198 $2,282 CHF/USD E-micro Swiss Franc 216 $3 524 $7 Swiss Franc 4,525 $5,268 38,6 $5, % 6.59% Swiss Franc Total 4,741 $5,271 38,584 $5,59 AUD/USD E-micro Australian Dollar 1,94 $ $8 Australian Dollar 133,351 $13,81 17,847 $17, % 9.3% Australian Dollar Total 134,444 $13, ,662 $17,621 MXN/USD Mexican Peso 45,715 $1, ,111 $8, % 8.64% Options ADV $Notional Open Interest O.I. $Notional 212 YTD 2 Day Hist. ADV Contracts ($millions) Contracts ($millions) Price Return Volatility EUR/USD Euro 24,76 $3, ,94 $46, % 8.76% JPY/USD Japanese Yen 3,788 $63 63,744 $1, % 7.3% GBP/USD British Pound 2,873 $284 42,13 $4, % 4.2% CAD/USD Canadian Dollar 3,517 $351 65,676 $6, % 6.26% CHF/USD Swiss Franc 217 $28 4,358 $58.% 6.59% AUD/USD Australian Dollar 5,843 $63 98,541 $1, % 9.3% Cross ADV $Notional Open Interest O.I. $Notional Price Close YTD 2 Day Hist. ADV Contracts ($millions) Contracts ($millions) Jun-'12 Price Return Volatility EUR/GBP Euro/British Pound 1,873 $296 1,456 $1, % 5.86% EUR/JPY Euro/Japanese Yen 1,527 $242 7,934 $1, % 1.51% EUR/CHF Euro/Swiss Franc 1,524 $241 6,63 $1, % 3.19% Total Futures and Options ADV Contracts ADV $Notional ($millions) Open Interest Contracts O.I. $Notional ($millions) Total Futures 85,236 $97,99 1,195,391 $131,423 Total Options 41,17 $5, ,426 $78,194 Grand Total Futures & Options 846,344 $13,713 1,757,817 $29,617 3

5 Average Daily Volume (in contracts) FX Futures Average Daily Volume and Notional Value AUD/USD CHF/USD CAD/USD GBP/USD JPY/USD EUR/USD Approximately Notional Value (in billions of dollars) 1,, 9, 8, 7, 6, 5, 4, 3, 2, 1, Average Daily Volume (in contracts) FX Options Average Daily Volume and Notional Value AUD/USD CHF/USD CAD/USD GBP/USD JPY/USD EUR/USD Approximately Notional Value (in billions of dollars) 8. 5, 7.5 4, , 4.5 2, ,

6 FX Quarterly Update Historical Volatility - 2 Day 8% EUR/USD GBP/USD JPY/USD AUD/USD CHF/USD CAD/USD 7% 6% 5% 4% 3% 2% 1% % Historical Volatility - 2 Day 8% MXN RMB BRL KRW RUB ILS PLN 7% 6% 5% 4% 3% 2% 1% % 5

7 EUR/USD Prices JPY/USD Prices

8 FX Quarterly Update Average Hourly Globex Bid/Ask Book Depth and Bid/Ask Spread Width for 3 rd Qtr 212 Bid Size Ask Size EUR/USD Currency Futures Sep12 Outright Market, Order Book Avg by Hour, Q3 212 Bid Qty 1 Ask Qty 1 Bid Qty 2 Ask Qty 2 Bid Qty 3 Ask Qty 3 Bid Qty 4 Ask Qty 4 Bid Qty 5 Ask Qty 5 Spread Amt 1 Spread Amt 2 Spread Amt 3 Spread Amt 4 Spread Amt a B/A Spread (in Pips) Bid Size 17: 18: 19: 2: 21: 22: 23: : 1: 2: 3: 4: 5: 6: 7: 8: 9: 1: 11: 12: Ask Size 13: 14: 15: JPY/USD Currency Futures Sep12 Outright Market, Order Book Avg by Hour, Q3, 212 Bid Qty 1 Ask Qty 1 Bid Qty 2 Ask Qty 2 Bid Qty 3 Ask Qty 3 Bid Qty 4 Ask Qty 4 Bid Qty 5 Ask Qty 5 Spread Amt 1 Spread Amt 2 Spread Amt 3 Spread Amt 4 Spread Amt a : 18: 19: 2: 21: 22: 23: : 1: 2: 3: 4: 5: 6: 7: 8: 9: 1: 11: 12: 13: 14: 15: B/A Spread (in Pips) 7

9 IMM, ' 3 IMM Commitment of Traders Net Speculative Positions EC SF JY BP AD CD positive values indicate net long positions & negative values indicate net short positions IMM, ' IMM Commitment of Traders Net Commercial Positions Source: CFTC EC SF JY BP AD CD positive values indicate net long positions & negative values indicate net short positions 8

10 FX Quarterly Update * The CFTC defines large open interest holders as having at least 1 open contracts in MXN futures and 4 in other foreign exchange futures. 9

11 Disclaimer 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 contract s 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. The Globe logo, CME and CME Group are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of The Board of Trade of the City of Chicago, Inc. All other trademarks are the property of their respective owners. The information within this presentation has been compiled by CME Group for general purposes only. Although every attempt has been made to ensure the accuracy of the information within this presentation, CME Group assumes no responsibility for any errors or omissions. Additionally, all examples in this presentation are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or the results of actual market experience. All matters pertaining to rules and specifications herein are made subject to and are superseded by official CME, CBOT and CME Group rules. Current rules should be consulted in all cases concerning contract specifications. 1

12 If you re looking for an edge in FX, look no further than CME Group FX Products. To get started trading CME Group FX Products, or for more information, call a member of our FX product team, or visit cmegroup.com/fx. CME Group Global FX Team Managing Director of FX and Interest Rate Products Derek Sammann derek.sammann@cmegroup.com Chicago Simon Burnham simon.burnham@cmegroup.com Craig LeVeille craig.leveille@cmegroup.com London Will Patrick will.patrick@cmegroup.com Singapore KC Lam kc.lam@cmegroup.com

13 CME GROUP HEADQUARTERS CME GROUP REGIONAL OFFICES 2 South Wacker Drive Chicago, Illinois 666 cmegroup.com info@cmegroup.com New York Calgary London Houston Singapore São Paulo Seoul Hong Kong Washington D.C 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 contract s 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. New York Mercantile Exchange and NYMEX are registered trademarks of the New York Mercantile Exchange, Inc. All other trademarks are the properties of their respective owners. The information within this brochure has been compiled by CME Group for general purposes only. CME Group assumes no responsibility for any errors or omissions. Additionally, all examples in this brochure are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or the results of actual market experience. All matters pertaining to rules and specifications herein are made subject to and are superseded by official CME, CBOT, and NYMEX rules. Current rules should be consulted in all cases concerning contract specifications. Copyright 212 CME Group. All rights reserved. FX314.3//512