FOURTH AMENDMENT TO CHICAGO MERCANTILE EXCHANGE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

Exhibit 10.4

FOURTH AMENDMENT

TO

CHICAGO MERCANTILE EXCHANGE

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

By virtue and in exercise of the amending authority reserved to the Chicago Mercantile Exchange Inc. (the “Company”), as successor by merger to the Chicago Mercantile Exchange, by the provisions of subsection 5.2 of the Chicago Mercantile Exchange Supplemental Executive Retirement Plan (the “Plan”), the Plan is amended in the following particulars:

1. By changing the name of the Plan to “Chicago Mercantile Exchange Inc. Supplemental Executive Retirement Plan” where the name of the Plan appears on the title page and immediately preceding Section 1 of the Plan, effective as of November 13, 2000.

2. By substituting the following for subsection 1.1 of the Plan, effective as of November 13, 2000:

“1.1. History, Purpose and Effective Date. Chicago Mercantile Exchange Supplemental Executive Retirement Plan (the ‘Plan’) was established, effective as of January 1, 1993 (the ‘Effective Date’) by Chicago Mercantile Exchange, an Illinois not-for-profit corporation (‘CME’), to provide its eligible key management employees with an opportunity to receive additional retirement income. Pursuant to a series of demutualization transactions and an agreement and plan of merger, effective as of November 13, 2000, Chicago Mercantile Exchange Inc., a shareholder-owned, for-profit Delaware corporation (the ‘Exchange’) succeeded to the assets, liabilities and business of CME and to the power, authority and responsibility of CME under and with respect to the Plan. Effective as of December 3, 2001, pursuant to a further corporate reorganization, the Exchange became a wholly-owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (‘CME Holdings’). The Plan is intended to constitute a plan maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees within the meaning of section 201(2), 301(a)(3) and 401(a)(l) of the Employee Retirement Income Security Act of 1974, as amended (‘ERISA’).”

3. By substituting the following for subsection 1.11 of the Plan, effective as of October 1, 2003:

“1.11. Action by Exchange. Any action required or permitted to be taken by the Exchange shall be by resolution of its Board of Directors, by a duly authorized officer of the Exchange, by a duly authorized committee or other duly authorized person or persons. Notwithstanding the preceding sentence, the Board of Directors of the Exchange has delegated to the Compensation Committee (‘Compensation Committee’) of the Board of Directors of CME Holdings the authority to take any action required or permitted to be taken by the Exchange under the Plan. Unless earlier revoked by resolution of the Board of Directors of the Exchange, the foregoing delegation of authority to the Compensation Committee shall be revoked, without the necessity of further action by the Board of Directors of the Exchange, if and when the Exchange ceases to be a wholly-owned subsidiary of CME Holdings.”

4. By substituting the following for subsection 3.2 of the Plan, effective as of October 1, 2003:

“3.2. Deferred Compensation Credits. Unless otherwise determined by the Compensation Committee, for each Plan Year beginning on or after January 1, 2003, 3 percent of each Participant’s base earnings and bonus paid in such Plan Year shall be awarded as Deferred Compensation Credits. The amount of Deferred Compensation Credits awarded to a Participant for any such Plan Year shall be credited to his Account as of the first business day of the next following Plan Year.”

5. By substituting the following for subsection 4.1 of the Plan, effective as of October 1, 2003:

“4.1. Vesting. A Participant’s vested interest in his Account shall be determined as follows:”

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A Participant’s Years of Vesting Service as of any date shall be equal to the number of full and partial years of service credited to the Participant for vesting purposes as of such date under the provisions of the Pension Plan for Employees of the Chicago Mercantile Exchange Inc. (the ‘Pension Plan’) or, in the case of a Participant who is not eligible to participate in the Pension Plan, the number of full and partial years of service that would be credited to the Participant for vesting purposes under the Pension Plan as of such date if the Participant were eligible to participate in the Pension Plan.”

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CERTIFICATION OF CORPORATE SECRETARY

The undersigned Secretary of the Chicago Mercantile Exchange Inc. (the “Company”) hereby certifies that the foregoing is a true and correct copy of an amendment adopted by resolution of the Company’s Board of Directors on December 16, 2003.

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