CBOT Holdings, Inc.

1
CBOT Holdings, Inc. Fourth Quarter 2006 January
31, 2007
2
Fourth Quarter 2006
4Q06 compared to 4Q05 Revenue up 48 Average d
aily volume up 36 Average rate per contract up
15 Exchange clearing fee revenue up 56 Ope
rating margin of 44.8 versus 24.4
CBOT Average Daily Volume by Trading Platform
4Q06 versus 4Q05 (millions of dollars, thousands
of contracts)
48
36
207
154
20.4 pts
26.0 pts
Revenue
Non-GAAP
GAAP
Average Daily Volume
Non-GAAP
GAAP
Net Income
Operating Margin
4Q05
4Q06
Excludes 9.5 million in merger-related expenses
3
Year 2006
2006 compared to 2005 Revenue up 35 Average d
aily volume up 20 Average rate per contract up
15 Exchange clearing fee revenue up 38 Ope
rating margin of 44.4 versus 28.3
CBOT Average Daily Volume by Trading Platform
2006 versus 2005 (millions of dollars, thousands
of contracts)
35
20
16.1 pts
125
17.7 pts
138
Revenue
Non-GAAP
GAAP
Average Daily Volume
Non-GAAP
GAAP
Net Income
Operating Margin
2005
2006
Excludes 9.7 million in merger-related expenses
4
Quarterly Expense History
Operating Expenses (in millions)
5
Fixed and Volume-Based Expenses
( in millions)
Note Special / Other expenses include loss
impairment on long-lived assets, litigation
settlement and severance costs

6
Quarterly Operating Profit History
Quarterly results affected by
4Q05 severance and related costs, 3.0 million,
defined benefit plan termination, 1.0 million
1Q06 market data price increase
2Q06 2.6 million benefit from market data
revenue account adjustment 3Q06 volume increase o
f 21 compared to previous year and RPC up 23
due to higher fees and Agricultural futures going
electronic 4Q06 volume increase of 36 compared t
o previous year and RPC up 15 due to higher fees
and Agricultural futures going electronic
4Q06 includes 9.5 million in professional fees
incurred in connection with pending merger with
CME
Quarterly Operating Profit (in millions)
7
Quarterly Volume and Revenue History
Quarterly Revenue (in millions)
Quarterly Average Daily Volume (in thousands)
8
Financial Product Offering
Growth Drivers
Interest rate volatility Network expansion to ser
ve international U.S. Treasury holders
New derivatives of existing products
Growing popularity of hedge funds
Shift from passive to active investing
strategies U.S. Government fiscal and monetary po
licy
Average Daily Volume (in thousands)
9
Agricultural Product Offering
Growth Drivers
Introduction of daytime trading of Ag futures
Expansion of risk management Leverage strong bran
d name Global shifts in production Commodity ind
ex Hosted exchanges Delivery outside U.S.
Average Daily Volume (in thousands)
1
10
Market Data
Growth Drivers
Byproduct of exchange activity
Partnerships with domestic and global exchanges
Minneapolis Grain Exchange, the Kansas City Board
of Trade, and the Winnipeg Commodity Exchange
Exploring European and Asian agreements
Dedicated sales and marketing effort underway
Revenue (in millions)
11
CBOT Average Daily Volume Pricing Details
Average Daily Volume (in thousands)
Average Daily Volume (in thousands)
Rate per Contract (in dollars)
Rate per Contract (in dollars)
NOTE May not foot due to rounding
12
Outlook Assumptions First Quarter 2007 Outlook
As of January 31, 2007
13
CBOT/CME Proposed Merger Update

• Filed Form S-4 with SEC on Dec. 21, 2006
• Filed Amendment No.1 to S-4 on January 30, 2007
  
  
• Entered into second review phase with the
  Department of Justice, as expected
  
• Integration planning underway
• Implemented planning structure and process
• Identified senior-level management team for CME
  Group
  
• CBOT and CME shareholder and CBOT member votes
  expected in Q1
  
• Expect transaction to close in mid-2007

14
Reconciliation of GAAP to Non-GAAP Financial
Measures
CBOT used non-GAAP financial measures of
operating performance to eliminate 2006
merger-related expenses attributable to the
announced merger with CBOT and CME. Non-GAAP
measures do not replace and are not superior to
the presentation of our GAAP financial results
but are provided to improve overall understanding
of our current financial performance and our
prospects for the future.