As we all know, ICE has won the contract to be the exchange for the Russell 2000 e-mini. As I understand it, the ICE Russell will start trading this month and the CME will continue to host the ER2 until September 08. Meanwhile, the CME will bring out its own small cap e-mini based on the S&P Small Cap 600 (to be based on tick increments of 0.1 pts worth $10, like the current ER2) sometime soon (presumably to compete with ICE once the CME loses the ER2 completely). So over the next 12 months, it would appear that volume could be split between the current CME ER2, the new ICE Russell and the new CME S&P Small Cap 600. What do other ER2 traders plan to do about this? I trade the ER2 exclusively and am concerned about the volume being split amongst these competing products. I'd prefer to stay with a CME product (will stick with ER2 for now), but I wonder how much volume will move to the new Russell product coming out on ICE. Will volume move to the ICE Russell or the CME S&P Small Cap 600? I have no idea how CME could have lost the Russell contract. I guess they were more focused on not losing the CBOT to ICE.