Appendix A to §1.20 – Futures Commission Merchant Acknowledgment Letter for CFTCRegulation 1.20 Customer Segregated Account[Date][Name and Address of Bank, Trust Company,We refer to the Segregated Account(s) which [Name of Futures Commission Merchant](“we” or “our”) have opened or will open with [Name of Bank, Trust Company, Derivatives(“you” or “your”) entitled:[Name of Futures Commission Merchant] [if applicable, add “FCM Customer

Omnibus Account”] CFTC Regulation 1.20 Customer Segregated Account underSections 4d(a) and 4d(b) of the Commodity Exchange Act [and, if applicable, “,Abbreviated as [short title reflected in the depository’s electronic system]”]Account Number(s): [](collectively, the “Account(s)”).
You acknowledge that we have opened or will open the above-referenced Account(s) forthe purpose of depositing, as applicable, money, securities and other property (collectively the“Funds”) of customers who trade commodities, options, swaps, and other products, as required
by Commodity Futures Trading Commission (“CFTC”) Regulations, including Regulation 1.20,
as amended; that the Funds held by you, hereafter deposited in the Account(s) or accruing to thecredit of the Account(s), will be separately accounted for and segregated on your books from ourown funds and from any other funds or accounts held by us in accordance with the provisions of
the Commodity Exchange Act, as amended (the “Act”), and Part 1 of the CFTC’s regulations, asamended; and that the Funds must otherwise be treated in accordance with the provisions ofSection 4d of the Act and CFTC regulations thereunder.

Furthermore, you acknowledge and agree that such Funds may not be used by you or by
us to secure or guarantee any obligations that we might owe to you, and they may not be used byus to secure or obtain credit from you. You further acknowledge and agree that the Funds in theAccount(s) shall not be subject to any right of offset or lien for or on account of any indebtedness,
obligations or liabilities we may now or in the future have owing to you. This prohibition does
not affect your right to recover funds advanced in the form of cash transfers, lines of credit,
repurchase agreements or other similar liquidity arrangements you make in lieu of liquidating
non-cash assets held in the Account(s) or in lieu of converting cash held in the Account(s) tocash in a different currency.
In addition, you agree that the Account(s) may be examined at any reasonable time by thedirector of the Division of Swap Dealer and Intermediary Oversight of the CFTC or the director of
the Division of Clearing and Risk of the CFTC, or any successor divisions, or such directors’
designees, or an appropriate officer, agent or employee of our designated self-regulatoryorganization (“DSRO”), [Name of DSRO], and this letter constitutes theauthorization and direction of the undersigned on our behalf to permit any such examination to takeplace without further notice to or consent from us.
You agree to reply promptly and directly to any request for confirmation of accountbalances or provision of any other information regarding or related to the Account(s) from thedirector of the Division of Swap Dealer and Intermediary Oversight of the CFTC or the director ofthe Division of Clearing and Risk of the CFTC, or any successor divisions, or such directors’
designees, or an appropriate officer, agent, or employee of [Name of DSRO],

acting in its capacity as our DSRO, and this letter constitutes the authorization and direction of theundersigned on our behalf to release the requested information without further notice to or consent
from us.
You further acknowledge and agree that, pursuant to authorization granted by us to you
previously or herein, you have provided, or will promptly provide following the opening of theAccount(s), the director of the Division of Swap Dealer and Intermediary Oversight of the CFTC, or
any successor division, or such director’s designees, with technological connectivity, which may
include provision of hardware, software, and related technology and protocol support, to facilitate
direct, read-only electronic access to transaction and account balance information for theAccount(s). This letter constitutes the authorization and direction of the undersigned on our behalf
for you to establish this connectivity and access if not previously established, without further notice
to or consent from us.
The parties agree that all actions on your part to respond to the above information and accessrequests will be made in accordance with, and subject to, such usual and customary authorization
verification and authentication policies and procedures as may be employed by you to verify theauthority of, and authenticate the identity of, the individual making any such information or accessrequest, in order to provide for the secure transmission and delivery of the requested information oraccess to the appropriate recipient(s). We will not hold you responsible for acting pursuant to any
information or access request from the director of the Division of Swap Dealer and Intermediary
Oversight of the CFTC or the director of the Division of Clearing and Risk of the CFTC, or any
successor divisions, or such directors’ designees, or an appropriate officer, agent, or employee of[Name of DSRO], acting in its capacity as our DSRO, upon which you

have relied after having taken measures in accordance with your applicable policies and proceduresto assure that such request was provided to you by an individual authorized to make such a request.

In the event that we become subject to either a voluntary or involuntary petition for relief
under the U.S. Bankruptcy Code, we acknowledge that you will have no obligation to release theFunds held in the Account(s), except upon instruction of the Trustee in Bankruptcy or pursuant
to the Order of the respective U.S. Bankruptcy Court.
Notwithstanding anything in the foregoing to the contrary, nothing contained herein shallbe construed as limiting your right to assert any right of offset or lien on assets that are not Funds
maintained in the Account(s), or to impose such charges against us or any proprietary accountmaintained by us with you. Further, it is understood that amounts represented by checks, drafts
or other items shall not be considered to be part of the Account(s) until finally collected.
Accordingly, checks, drafts and other items credited to the Account(s) and subsequently
dishonored or otherwise returned to you or reversed, for any reason, and any claims relating
thereto, including but not limited to claims of alteration or forgery, may be charged back to theAccount(s), and we shall be responsible to you as a general endorser of all such items whether or
not actually so endorsed.
You may conclusively presume that any withdrawal from the Account(s) and thebalances maintained therein are in conformity with the Act and CFTC regulations without any
further inquiry, provided that, in the ordinary course of your business as a depository, you haveno notice of or actual knowledge of a potential violation by us of any provision of the Act or theCFTC regulations that relates to the segregation of customer funds; and you shall not in any
manner not expressly agreed to herein be responsible to us for ensuring compliance by us withsuch provisions of the Act and CFTC regulations; however, the aforementioned presumption
does not affect any obligation you may otherwise have under the Act or CFTC regulations.

You may, and are hereby authorized to, obey the order, judgment, decree or levy of any
court of competent jurisdiction or any governmental agency with jurisdiction, which order,
judgment, decree or levy relates in whole or in part to the Account(s). In any event, you shall not
be liable by reason of any action or omission to act pursuant to any such order, judgment, decreeor levy, to us or to any other person, firm, association or corporation even if thereafter any suchorder, decree, judgment or levy shall be reversed, modified, set aside or vacated.
The terms of this letter agreement shall remain binding upon the parties, their successors
and assigns and, for the avoidance of doubt, regardless of a change in the name of either party.
This letter agreement supersedes and replaces any prior agreement between the parties inconnection with the Account(s), including but not limited to any prior acknowledgment letteragreement, to the extent that such prior agreement is inconsistent with the terms hereof. In theevent of any conflict between this letter agreement and any other agreement between the parties
in connection with the Account(s), this letter agreement shall govern with respect to mattersspecific to Section 4d of the Act and the CFTC’s regulations thereunder, as amended.
This letter agreement shall be governed by and construed in accordance with the laws of[Insert governing law] without regard to the principles of choice of law.

Please acknowledge that you agree to abide by the requirements and conditions set forth
above by signing and returning to us the enclosed copy of this letter agreement, and that you
further agree to provide a copy of this fully executed letter agreement directly to the CFTC (viaelectronic means in a format and manner determined by the CFTC) and to [Name of DSRO],

acting in its capacity as our DSRO. We hereby authorize and direct you to provide such copies
without further notice to or consent from us, no later than three business days after opening theAccount(s) or revising this letter agreement, as applicable.

[Name of Futures Commission Merchant]
By:Print Name:
Title:ACKNOWLEDGED AND AGREED:[Name of Bank, Trust Company, Derivatives Clearing Organization or Futures Commission
By:
Print Name:
Title:
Contact Information: [Insert phone number and email address]
DATE: