HEDGE
Street.

= HedgeStreet may postpone or deny any participant any of the Incentives in
its sole discretion if it determines that such participant did not satisfy all of
the terms and conditions of the Incentive Program stipulated herein, and;

* The Program will expire at the close of business on Friday, December 29,
2006.

Amended Referral Program

The terms and conditions of the Original Referral Program will remain in full force
and effect except that the Referrer will receive an iPod® ShuffleTM (valued at
approximately $79) for the first Referee that satisfies the requirements of the
Original Referral Program. The Referrer will receive an Amazon.com Gift
Certificate in the amount of $50 for each of the other two (2) Referees that satisfy
the terms and conditions of the Referral Program. The Amended Referral Program
will commence on December 1, 2006 and will continue through December 31,
2006.

No substantive opposing views were expressed to HedgeStreet with respect to either
the Incentive Program or the Amended Referral Program.

HedgeStreet hereby certifies that the Promotion complies with the Commodity
Exchange Act, as amended, and the Commissions regulations adopted thereunder.

Should you have any questions or require additional information, please do not
hesitate to contact the undersigned at (650) 638-3511 or sford@hedgestreet.com.

Sincerely,

Stephanie Ford
Vice President, Legal & Compliance

ce: Riva Adriance ~ CFTC
Clarissa Manansala — HedgeStreet, Inc.

1825 S. Grant Street
Suite 500
San Mateo, CA 94402
Tel: 650.638.3500
www.hedgestreet.com Fax: 650.638.3501


HEDGE
Street.

November 16, 2006

VIA EMAIL: secretary@efte.gov

Ms. Eileen A. Donovan, Acting Secretary
Secretary of the Commission

Commodity Futures Trading Commission
3 Lafayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

RE: HedgeStreet, Inc. © Offers New Member Trading Incentive Program
and Amends the HedgeStreet Refer-A-Friend Program

Dear Acting Secretary Donovan:

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (“Act”),
and §40.6(a) of the regulations promulgated by the Commodity Futures Trading
Commission (the “Commission”) under the Act, HedgeStreet, Inc. (““HedgeStreet’”)
hereby submits to the Commission its intent to give away an Apple iPod®
ShuffleTM! to a participant that (i) opens an account on HedgeStreet, (ii) funds the
account for the first time with a minimum of $100, (iii) executes at least one (1)
trade during the Promotion Period and (iv) is not in violation of any HedgeStreet
Rule or the Act (“Incentive Program”). A participant that satisfies all of the terms
and conditions of the Incentive Program contained herein will be a participant that
is eligible to receive an iPod® ShuffleTM (‘Eligible Participant”) by no later than
one month after the end of the Promotion Period. The Promotion Period will
commence on Friday, November 17, 2006 and will continue on through Friday,
December 29, 2006 (“Promotion Period”).

In addition, HedgeStreet intends to amend its current Refer-A-Friend Program on
December 1, 2006 which was originally certified to the Commission on April 13,
2005 with an amendment to such referral program submitted to the Commission on
April 14, 2005 with an extension of such referral program submitted to the
Commission on January 5, 2006 (collectively “Original Referral Program”). The
Referrer (i.e. the existing HedgeStreet Member that refers a non-member to join
HedgeStreet) will be eligible to receive an Apple iPod® ShuffleTM for the first

} iPod” is a registered trade mark of the Apple Computer, Inc. ShuffleTM is a trade mark of Apple Computer,
Inc. HedgeStreet, Inc. is not affiliated with the Apple Computer, Inc. and neither the Apple Computer, Inc. nor
its affiliates, sponsor or endorse HedgeStreet, Inc. in any way.

www.hedgestreet.com

1825 S, Grant Street
Suite 500

San Mateo, CA 94402
Tel: 650.638.3500
Fax: 650.638.3501


HEDGE
Street.

Referee (i.e. the non-HedgeStreet member that (i) opens an account on HedgeStreet,
(ii) funds such account for the first time with a minimum of $100, and (iii) places at
least one (1) trade on HedgeStreet during the program period’) out of the three (3)
that the Referrer refers to HedgeStreet (“Amended Referral Program”). The
Original Referral Program and the Amended Referral Program are collectively
referred to herein as the Referral Program. The Referrer will only be eligible to
receive a total of three (3) incentives for each eligible Referee in accordance with
the Referral Program. The Referrer will receive a $50 gift certificate for each
subsequent eligible Referee redeemable towards purchases made through
Amazon.com®”, In summary, the Referrer will be eligible to receive an iPod®
ShuffleTM for the first Referee and two (2) Amazon.com gift certificates for each of
the two (2) subsequent Referees. All other terms and conditions of the Referral
Program will apply. The Amazon.com® $50 gift certificates and the iPod®
ShuffleTM may collectively be referred to herein as “Incentives.” The Amended
Referral Program will take effect on December 1, 2006.

Incentive Program

As a fully electronic, non-intermediated, designated contract market and derivatives
clearing organization, HedgeStreet is primarily focused on the retail investor and
promoting liquidity on its market. HedgeStreet recognizes that by offering special
promotions such as the Incentive Program regarding its products and services it is
providing an education to the general public about the unique instruments available
for trading on HedgeStreet.

The terms and conditions that will apply to the Incentive Program are as follows:

= All participants of the Incentive Program must comply with the existing
restrictions and requirements set forth under the HedgeStreet eligibility and
application procedures represented by Chapter 3 of the HedgeStreet
Rulebook, including, but not limited to, Chapter 3.1(a)(i) which specifically
states that an individual must be “old enough to enter into a legally
enforceable contract”;

? In accordance with the Referral Program certification submitted to the Commission on January 5, 2006, the
program period for the Referral Program extends until December 31, 2006.

Amazon.com® is a registered trade mark of Amazon.com, Inc. HedgeStreet, Inc. is not affiliated with the
Apple Computer, Inc. and neither the Amazon.com, Inc. nor its affiliates, sponsor or endorse HedgeStreet, Inc.
in any way.

1625 S. Grant Street
Suite 500
San Mateo, CA 94402
Tet; 650.638.3500
www.hedgestreet.com Fax: 650.638.3501


HEDGE
Street.

= This Incentive Program will not award gifts of cash value. Rewards for
those Eligible Participants participating in the Incentive Program will be an
Apple iPod® ShuffleTM (valued at approximately $79) which will be sent to
all Eligible Participants by no later than one month after the end of the
Promotion Period;

= A participant will become eligible to receive the iPod® ShuffleTM once the
participant (i) opens an account on HedgeStreet (ii) funds his/her account for
the first time with a minimum of $100, (iii) executes at least one (1) trade on
HedgeStreet at any time during the Promotion Period and, (iv) is not in
violation of any HedgeStreet Rule or the Act;

= Eligible Participants will automatically receive the iPod® ShuffleTM once
HedgeStreet determines that all terms and conditions of the Incentive
Program have been satisfied by such Eligible Participants. No additional
action is required by the Eligible Participant to receive the iPod® ShuffleTM.

= A participant that has already opened an account on HedgeStreet but has not
yet funded such account is eligible to participate in the Incentive Program;

= The Incentive Program will not affect the terms and conditions of the Fee
Waiver Program (““Waiver Program”). All terms and conditions of the
Waiver Program originally certified with the Commission on January 28,
2005 pursuant to Section 5c(c)(1) of the Act, and §40.6(a) of the regulations
promulgated by the Commission under the Act continue to be in full force
and effect. HedgeStreet subsequently extended the Waiver Program and
certified with the Commission such extension on March 22, 2005, June 29,
2005, September 26, 2005 and on January 5, 2006 at which time
HedgeStreet certified that the Waiver Program would be extended until the
close of business on December 31, 2006;

= It is the responsibility of each participant to follow the rules of HedgeStreet
and the Incentive Program;

= HedgeStreet may cancel the Incentive Program at any time, provided that
HedgeStreet files the appropriate notification with the Commission in
accordance with the Act; If HedgeStreet does cancel the program prior to
the end of the Promotion Period (“Cancellation Date”), all participants who
have satisfied the terms and conditions of the Incentive Program prior to the
such Cancellation Date will be eligible to receive an iPod® ShuffleTM,

1825 S. Grant Street

‘Suite 500

San Mateo, CA 94402

Tel: 650.638.3500
www.hedgestreet.com Fax: 650.638.3501