exhibit 10. 21 portions of this exhibit have been omitted pursuant to a request for confidential treatment filed with the securities and exchange commission. the omissions have been [ * * ], and the omitted text has been filed separately with the securities and exchange commission. clearing services agreement effective the 16th day of april 2003 between chicago mercantile exchange inc., a business corporation organized under the laws of the state of delaware and having its principal office situated at 30 south wacker drive, chicago, illinois 60606 u. s. a., duly represented by its chairman of the board, terrence duffy, and by its president and chief executive officer, james j. mcnulty, ( hereinafter referred to at times as “ cme ” ), and the board of trade of the city of chicago, inc., a non share corporation organized under the laws of the state of delaware and having its principal office situated at 141 w. jackson blvd., chicago, illinois 60604 u. s. a., duly represented by its chairman, charles p. carey, and by its president and chief executive officer, bernard w. dan, ( hereinafter referred to at times as “ cbot ” ). each of cbot and cme is referred to herein as a “ party ”, and collectively they are referred to as the “ parties. ” recitals : whereas, cme is registered with the commodity futures trading commission ( the “ cftc ” ) as a designated contract market ( “ dcm ” ) and a “ derivative clearing organization “ ( “ dco ” ) within the meaning of the commodity exchange act, as amended ( the “ cea ” ), and seeks to provide clearing services, as defined herein, for cbot futures and options contracts ; whereas, cbot is registered with the cftc as a dcm and intends to register as a dco within the meaning of the cea, as amended, and seeks to have cme provide clearing services, as defined herein, for cbot futures and options contracts ; whereas, the parties intend to provide substantial benefits to their customers by clearing their listed contracts through the same clearing house ; whereas, the parties intend to enhance the efficient use of capital by their members by employing cme ’ s system of financial guarantees and providing for more efficient portfolio risk margining of certain positions held at cme ’ s clearing house ; and whereas, the parties intend to cooperatively