The following fees are associated with trading USFE products. This does not include brokerage fees that may apply. To find a broker, click here. USFE recognizes that its customers have a variety of investment and execution choices. Our commitment to low pricing forms an integral part of an attractive trading platform for our customers. Recognizing the needs of our customers, this competitive pricing plan allows us to bring greater value to the marketplace, resulting in tighter, deeper markets and diverse order flow from a broad trading community. For more information on our pricing and incentive programs, please contact the USFE sales team. Membership Fees In keeping with USFE's standard of low pricing and equal access, the USFE membership concept does not limit the number of direct market users, nor does it charge a membership or annual fee. USFE is a fully electronic marketplace and there is no need to buy or lease a seat in order to trade. Trading Fees USFE approaches pricing with a simple "one size fits all" transaction fee that is far below other U.S. market rates. This transparent fee structure creates a level playing field for members and customers alike. USFE provides significant opportunities to further reduce fees by providing liquidity (market making). USFE is pleased to announce fee waivers for its current product schedule. The fee waivers will be assessed for the time periods listed below. Products Launch Date Fee Waiver End of Fee Waiver International Securities Exchange (ISE) Sector Indexes Sep 14, 2007 12 Months Sep 14, 2008 Spot Equivalent Foreign Exchange Futures (SEFs) Sep 21, 2007 3 Months Dec 21, 2007 Morningstar Style BoxTM Equity Index Futures Sep 28, 2007 3 Months Dec 31, 2007 Binary Options Based on Single Asset Performance Oct 15, 2007 3 Months Jan 13, 2008 Upon completion of the noted fee waiver periods, USFE will charge a flat fee of USD 0.50 per contract. All Over the Counter (OTC) surcharges (block trades, EFPs, EFSs) will continue to be waived until further notice. Please note that trading fees and clearing fees are administered separately. Minimum Transaction Fees USFE members will not be charged a minimum transaction fee. Mistrade Fees Handling fees apply per erroneous entry for trades executed both in and out of the order book. Fees apply for both buy and sell sides of a trade, and are as follows: Futures: USD 500 Options on Futures: USD 150 Trading fees do not apply for mistrades or reversal trades. Clearing Fees USFE uses The Clearing Corporation, which has set the market standard for clearing U.S. Treasury derivative products, to provide its clearing services. Details of the clearing fee model can be found at www.clearingcorp.com.