Trading Hours Product Open Close SENSEX 5:25 p.m. (t-1) 4:00 p.m. (t) Mini$ DAX 5:25 p.m. (t-1) 4:00 p.m. (t) SEF (USD versus EUR, JPY, GBP, CHF, AUD, CAD) 5:25 p.m. (t-1) 4:00 p.m. (t) Trading Calendar Name Effective Date File Size File 2007 Trading Holiday Calendar Aug 13, 2007 41 kB 2008 Trading Holiday Calendar Dec 17, 2007 37 kB USFE Simulation Calendar Mar 24, 2008 to Jun 15, 2008   62 kB USFE Simulation Calendar Jun 16, 2008 to Sep 07, 2008   52 kB USFE Simulation Calendar Sep 08, 2008 to Nov 30, 2008   111 kB

Trading System Schedule

Phase	Time**	Time (CET)
System Startup	5:10 p.m. (t-1)	12:10 a.m.
Pre-Trading	5:15 p.m. (t-1)	12:15 a.m.
Pre-Opening	5:20 p.m. (t-1)	12:20 a.m.
Trading*	5:25 p.m. (t-1)	12:25 a.m.
Post-Trading	4:00 p.m. (t)	11:00 p.m.
Post-Restricted	4:19 p.m. (t)	11:19 p.m.
Batch	4:20 p.m. (t)	11:20 p.m.

*Trading begins after futures netting.
**Local time in Chicago, Illinois.