Chicago Board of Trade Long-Term U.K. Gilt Futures and Option Contracts

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The Chicago Board of Trade (CBT or Exchange) has submitted a proposal to implement a trading and clearing link (link) with the London International Financial Futures and Options Exchange (LIFFE). That proposal currently is under review at the Commission. 1 Pursuant to the proposed link, CBT and LIFFE would trade their major financial futures and options contracts, including the subject U.K. gilt option and the underlying U.K. gilt futures contract, on each other's floors by open outcry. Effectively, the link would permit ``cross listing'' of the CBT and LIFFE U.K. gilt futures and option contracts. ---------------------------------------------------------------------------