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This is the most successful new interest rate product launched in CME history in terms of volume and open interest growth since launch. CME Group turned in a strong fourth quarter financial performance, generating more revenue than any other quarter in 2009. I think first if you look at the overall picture, the marketing expense in 2008, a year where prior or just leading to the crisis at the end of the year, the marketing expense in 2008 was about $22 million a quarter. But within the interest rate futures complex, isn’t change in aftermarket yields, is it enough to really drive strong volume growth going forward or do we really need the Fed to kind of move benchmark rates around? read more

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