Ms, Jean A. Webb
Page 5 of 7

The foregoing position limits shall not apply to positions that are subject to a position limit
exemption meeting the requirements of Commission Regulations and CFE Rules.

CFE Rule 1602(e) Termination of Trading. Trading on the Russell 1000 Index futures
contract terminates at the close of trading on the day before the third Friday of the expiring
futures contract month. When the last trading day is moved because of a CFE holiday, the
last_trading day for an expiring Russell_1000 Index futures contract will be the day
immediately preceding the last regularly-scheduled trading day.

Priory
RRR RK

CFE Rule 1702 CBOE DJIA Volatility Index Futures Contract Specifications

Job eo
CFE Rule 1702(d) _—— Position Limits. A person may not own or control more than

5,000 contracts net long or net short in all contract months of a VXD futures contract
combined.

For the purposes of this rule, the positions of all accounts directly or indirectly owned or
controlled by a person or persons, and the positions of all accounts of a person or persons
acting pursuant to an expressed or implied agreement or understanding shall be cumulated.

[The foregoing position limit shall not apply to bona fide hedge positions meeting the
requirements of Commission Regulation §1.3(z)(1) and the rules of the Exchange.]

The foregoing position limits shall not apply to positions that are subject to a position limit
exemption meeting the requirements of Commission Regulations and CFE Rules.

CFE Rule 1702(e) = Termination of Trading. Trading in VXD futures contracts terminates
on the business day immediately preceding the final settlement date of the VXD futures
contract for the relevant spot month. When the last trading day is moved because of a CFE
holiday, the last trading day for an expiring VXD_ futures contract will be the day
immediately preceding the last regularly-scheduled trading day.

Porrrrry

ek KK

CFE Rule 2002 Mini-Russell 1000 Index Futures Contract Specifications

FO

CFE Rule 2002(d) —- Position Limits. A person may not own or control more than the
number of contracts net long or net short in all contract months of Russell 1000 Index futures
contracts and Mini-Russell 1000 Index futures contracts combined that in the aggregate
would exceed the equivalent of 5,000 Russell 1000 Index futures contracts. Under this rule,


Ms. Jean A. Webb
Page 4 of 7

FARIA

RAK

CFE Rule 1502 Mini-Russell 2000 Index Futures Contract Specifications

prrrrrrd

CFE Rule 1502(d) — Position Limits. A person may not own or control more than 25,000
contracts net long or net short in_all Mini-Russell_2000 Index futures contract_months
combined.

For the purposes of this rule, the positions of all accounts directly or indirectly owned or
controlled by a person or persons, and the positions of all accounts of a person or persons
acting pursuant to an expressed or implied agreement or understanding shall be cumulated.

[The foregoing position limit shall not apply to bona fide hedge positions meeting the
requirements of Commission Regulation §1.3(z)(1) and the rules of the Exchange.]

The foregoing position limits shall not apply to positions that are subject to a position limit
exemption meeting the requirements of Commission Regulations and CFE Rules.

CFE Rule 1502(e) Termination of Trading. Trading on the Mini-Russell 2000 Index
futures contract terminates at the close of trading on the day before the third Friday of the
expiring futures contract month. When the last trading day is moved because of a CFE
holiday, the last trading day for an expiring Mini-Russell 2000 Index futures contract will be
the day immediately preceding the last regularly-scheduled trading day.

corrrrry
RRR RK

CFE Rule 1602 Russell 1000 Index Futures Contract Specifications

prrrrrry

CFE Rule 1602(d) — Position Limits. A person may not own or control more than
the number of contracts net long or net short in all contract months of Russell 1000 Index
futures contracts and Mini-Russell 1000 Index futures contracts combined that in the
aggregate would exceed the equivalent of 5,000 Russell 1000 Index futures contracts. Under
this rule, one Mini-Russell 1000 Index futures contract shall be deemed to be equivalent to
one-fifth (0.20) of one Russell 1000 Index futures contract.

For the purposes of this rule, the positions of all accounts directly or indirectly owned or
controlled by a person or persons, and the positions of all accounts of a person or persons
acting pursuant to an expressed or implied agreement or understanding shall be cumulated.

[The foregoing position limit shall not apply to bona fide hedge positions meeting the
requirements of Commission Regulation §1.3(z)(1) and the rules of the Exchange.]


Ms. Jean A. Webb
Page 6 of 7

one Mini-Russell 1000 Index futures contract shall be deemed to be equivalent to one-fifth
(0.20) of one Russell 1000 Index futures contract.

For the purposes of this rule, the positions of all accounts directly or indirectly owned or
controlled by a person or persons, and the positions of all accounts of a person or persons
acting pursuant to an expressed or implied agreement or understanding shall be cumulated.

{The foregoing position limit shall not apply to bona fide hedge positions meeting the
requirements of Commission Regulation §1.3(z)(1) and the rules of the Exchange.]

The foregoing position limits shall not apply to positions that are subject to a position limit
exemption meeting the requirements of Commission Regulations and CFE Rules.

CFE Rule 2002(e) = Termination of Trading. Trading on the Mini-Russell 1000 Index
futures contract terminates at the close of trading on the day before the third Friday of the
expiring futures contract month. When the last trading day is moved because of a CFE
holiday, the last trading day for an expiring Mini-Russell 1000 Index futures contract will be
the day immediately preceding the last regularly-scheduled trading day.

porrrr sy
RRR

CFE Rule 2102 CBOE PowerPacks Index Futures Contract Specifications

Seer

CFE Rule 2102(d) ~— Position Limits. A person may not own or control more than
5,000 contracts net long or net short in all contract months of a PowerPacks Index Future
combined.

For the purposes of this rule, the positions of all accounts directly or indirectly owned or
controlled by a person or persons, and the positions of all accounts of a person or persons
acting pursuant to an expressed or implied agreement or understanding shall be cumulated.

{The foregoing position limit shall not apply to bona fide hedge positions meeting the
requirements of Commission Regulation §1.3(z)(1) and the rules of the Exchange.]

The foregoing position limits shall not apply to positions that are subject to a position limit
exemption meeting the requirements of Commission Regulations and CFE Rules.

CFE Rule 2102(e) Termination of Trading. Trading on PowerPacks Index Futures
terminates at the close of trading on the day before the third Friday of the expiring futures
contract month. When the last trading day is moved because of a CFE holiday, the last
trading day for an expiring PowerPacks Index Future will be the day immediately preceding
the last regularly-scheduled trading day.

FOIE


(CBOE FUTURES EXCHANGE

Via Electronic Mail

February 21, 2006

Ms. Jean A. Webb ce
Secretary ©
Commodity Futures Trading Commission
Three Lafayette Centre ;
1155 21st Street, N.W. ©
Washington, D.C. 20581 c

Re: CBOE Futures Exchange, LLC Rule Certification = os
Submission Number CFE-2006-04 £ w
Dear Ms. Webb:

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
("Commission") under the Act, CBOE Futures Exchange, LLC ("CFE" or "Exchange")
hereby submits a rule change to make certain housekeeping rule changes to the CFE
Rulebook ("Amendment").

First, CFE is revising the definition of "Option" in CFE Rule 147 to make clear that
the definition includes all commodity options. Second, CFE is revising CFE Rule 212 to
further clarify that CFE's Board of Directors has the authority to review the decisions and
actions of CFE committees, officers, and any other employee, representative, or agent of
CFE. Third, CFE is revising the paragraphs in certain futures contract specification rules that
establish the position limits for the applicable futures contract to make clear that the
applicable position limits are on an all-months combined basis. Fourth, CFE is making clear
that the position limits applicable to each futures contract shall not apply to positions that are
subject to a position limit exemption meeting the requirements of Commission regulations
and CFE rules. Finally, CFE is revising the contract specification rules for all of its futures
contracts to provide that when the last trading day of the applicable futures contract is moved
because of a CFE holiday, the last trading day will instead be the day immediately preceding
the last regularly-scheduled trading day. CFE notes that this concept is set forth in all of the
product specification charts that have been submitted to the Commission as part of the
product submission filings for all of CFE's futures contracts.

The Amendment will become effective on February 23, 2006.

CFE is not aware of any substantive opposing views to the Amendment. CFE hereby
certifies that the Amendment complies with the Act and the regulations thereunder.

The Amendment, marked to show additions in underlined text and deletions in
[bracketed] text, consists of the following:

RRR

400 South LaSalle Street Chicago, Illinois 60605-1023 www.cboe.com/cfe


Ms. Jean A. Webb
Page 7 of 7

CFE Rule 2202 CFE Gas At The Pump Futures Contract Specifications

SIO I

CFE Rule 2202(e) = Termination of Trading. Trading of GAPP Futures terminates at the
close of trading on the third Friday of the expiring futures contract month. When the last
trading day is moved because of a CFE holiday, the last trading day for an expiring GAPP
Future will be the day immediately preceding the last regularly-scheduled trading day. The
Exchange may alter the last trading day for a GAPP Future if the EIA release the weighted
average price estimate for the applicable contract month on a date other than the Monday
following the third Friday of the applicable contract month.

FeO Ok
wR RE

Questions regarding this submission may be directed to David Doherty at (312) 786-
7466. Please reference our submission number CFE-2006-04 in any related correspondence:

CBOE Futures Exchange, LLC

By: E dywmd \ Se \ =
Edward J. Joyce (7 7 <7
President

ce: Thomas Leahy
Mark Baumgardner (OCC)


Ms. Jean A. Webb
Page 2 of 7

CFE Rule 147 Option

The term "Option" means any commodity option, as that term is defined in Commission
Regulation § 1.3(hh), from time to time traded subject to the Rules of the Exchange and
issued or subject to issuance by the Clearing Corporation pursuant to the Rules of the
Clearing Corporation[, to buy or sell any Future).

RRR RK

CFE Rule 212 Power of the Board to Review [Committee] Exchange Decisions

The Board shall have the power and authority to call for review, and to affirm, modify,
suspend or overrule, any and all decisions and actions of Standing Committees, Exchange
committees and special committees of the Board formed pursuant to Rules 206 through 211;
[and] all officers of the Exchange appointed pursuant to Rule 205; and all other employees.
representatives, or agents of the Exchange. Where applicable, this Board power and
authority shall be subject to specific procedures set forth in the Rules of the Exchange.

KKK

CFE Rule 1202 CBOE Volatility Index Futures Contract Specifications

Porro

CFE Rule 1202(d) —- Position Limits. A person may not own or control more than
5,000 contracts net long or net short in all VIX futures contract months combined.

For the purposes of this rule, the positions of all accounts directly or indirectly owned or
controlled by a person or persons, and the positions of all accounts of a person or persons
acting pursuant to an expressed or implied agreement or understanding shall be cumulated.

[The foregoing position limit shall not apply to bona fide hedge positions meeting the
requirements of Commission Regulation §1.3(z)(1) and the rules of the Exchange.]

The foregoing position limits shall not apply to positions that are subject to a position limit
exemption meeting the requirements of Commission Regulations and CFE Rules.

CFE Rule 1202(e) = Termination of Trading. Trading on the VIX futures contract
terminates on the business day immediately preceding the final settlement date of the VIX
futures contract for the relevant spot month. When the last trading day is moved because of a
CFE_ holiday, the last trading day for an expiring VIX futures contract will be the day
immediately preceding the last regularly-scheduled trading day.

coroorry
RK


Ms. Jean A. Webb
Page 3 of 7

CFE Rule 1302 CBOE S&P 500 Three-Month Variance Futures Contract Specifications

EE

CFE Rule 1302(d) — Position Limits. A person may not own or control more than 5,000
contracts net long or net short in all CBOE S&P 500 Three-Month Variance futures contract
months combined.

For the purposes of this rule, the positions of all accounts directly or indirectly owned or
controlled by a person or persons, and the positions of all accounts of a person or persons
acting pursuant to an expressed or implied agreement or understanding shall be cumulated.

[The foregoing position limit shall not apply to bona fide hedge positions meeting the
requirements of Commission Regulation §1.3(z)(1) and the rules of the Exchange.]

The foregoing position limits shall not apply to positions that are subject to a position limit
exemption meeting the requirements of Commission Regulations and CFE Rules.

CFE Rule 1302(e) Termination of Trading. Trading on the CBOE S&P 500 Three-
Month Variance futures contract terminates on the third Friday of the expiring futures
contract month. When the last trading day is moved because of a CFE holiday, the last
trading day for an expiring CBOE S&P 500 Three-Month Variance futures contract will be
the day immediately preceding the last regularly-scheduled trading day.

rr
KR RK

CFE Rule 1402 CBOE China Index Futures Contract Specifications

eee
CFE Rule 1402(d) —— Position Limits. A person may not own or control more than

5,000 contracts net long or net short in_all CBOE China Index futures contract_months
combined.

For the purposes of this rule, the positions of all accounts directly or indirectly owned or
controlled by a person or persons, and the positions of all accounts of a person or persons
acting pursuant to an expressed or implied agreement or understanding shall be cumulated.

[The foregoing position limit shall not apply to bona fide hedge positions meeting the
requirements of Commission Regulation §1.3(z)(1) and the rules of the Exchange.]

The foregoing position limits shall not apply to positions that are subject to a position limit
exemption meeting the requirements of Commission Regulations and CFE Rules.

CFE Rule 1402(e) Termination of Trading. Trading on the CBOE China Index futures
contract terminates at the close of trading on the day before the third Friday of the expiring
futures contract month. When the last trading day is moved because of a CFE holiday, the
last trading day for an expiring CBOE China Index futures contract _will be the day
immediately preceding the last regularly-scheduled trading day.