The stock market is facing a meltdown after Congress failed to pass the proposed $700 billion financial industry bailout today. Here is a guide to price limits for stock indexes at CME Group.

Third-Quarter 2008

Market/Limit        Overnight 5% (Up or Down)     10% (Down Only)    20% (Down Only)

S&P 500 and E-Mini S&P 500               65.00                 130.00                260.00

Nasdaq 100 and E-Mini Nasdaq 100     95.00                 190.00                380.00

E-Mini Nasdaq Composite                   120.00                240.00                480.00

RULES for S&P 500, E-mini S&P 500, Nasdaq 100, E-mini Nasdaq 100, E-mini Nasdaq Biotechnology, E-mini Nasdaq Composite, S&P MidCap 400, E-mini S&P MidCap 400, S&P SmallCap 600, E-mini SmallCap 600, Russell 200, E-mini Russell 2000, S&P 500/Citigroup Growth, S&P 500/Citigroup Value, DJIA ($5, 10 and $25 multiplier), DJIA US Real Estate and SPCTR futures:

10% Down only. Once a limit offer has been established, trading can occur at or above this limit for 10 minutes. Trading will halt for two minutes if the primary futures is limit offer at the end of the 10 minutes. Trading will resume with the 20% limit in effect.

20% Down only. Once a limit offer has been established, trading can occur at or above this limit for 10 minutes. Trading will halt for two minutes if the primary futures is limit offer at the end of the 10 minutes. Trading will resume with the 30% limit in effect.

30% Down only. Limit shall be effect during all regular trading hours (RTH).

5% Up or down. CME Group overnight hours price limit. If the market is limit bid or limit offered during a period commencing two minutes prior to the opening of Regular Trading Hours (RTH). Once RTH commences, the next applicable trading limit shall be in effect. If either a trading halt was in effect or the primary futures contract was locked at a limit at the close of trading, then the opening time of trading on CME Globex shall be delayed until 6:00 p.m.

Trading Halts: If there is a halt declared in the primary securities market due to NYSE Rule 80B,trading will halt in all domestic stock index futures and options, whether a limit has been hit or not. Trading will resume in CME Group domestic stock index contracts when the primary securities market reopens for trading. Once CME Group markets have reopened, the next applicable limit will be in effect.

Daily Price Limits for all U.S. Equity Index Futures are tied to movements in E-mini contracts as opposed to standard contracts.

DJIA % Declines:
10% If the DJIA declines 10% prior to 1:00 p.m. CT, the NYSE will declare a one-hour trading halt. If the DJIA decline 10% between 1:00 p.m. and 1:30 p.m. CT, the NYSE will declare a half-hour trading halt. After 1:30 p.m. CT, the 10% limit is not in effect.

20% If the DJIA declines 20% prior to 12:00 p.m. CT, the NYSE will declare a two-hour trading halt. If the DJIA declines 20% after 1:00 p.m. CT, the NYSE will declare a trading halt and will no reopen.

30% If the DJIA declines 30%, the NYSE will declare a trading halt and will not reopen.

Options Procedures:
S&P 500, E-mini S&P 500, S&P MidCap 400, E-mini S&P MidCap 400, NASDAQ-100, E-mini NASDAQ-100, Russell 2000, E-mini Russell 2000, S&P 500/Citigroup Growth, S&P 500/Citigroup Value and DJIA ($5 multiplier and $10 multiplier): Whenever the primary futures contract is officially declared at a limit, options trading halts except at the maximum daily price limit on an option’s last day of trading. When the primary futures contract trades off the limit or the limit expires, options trading resumes.