Gin) NEW YORK

BOARD OF TRADE*

World Financial Center

One North End Avenue, 13' Floor
New York, New York 10282

BY ELECTRONIC TRANSMISSION

05-43
November 18, 2005

Ms. Jean A. Webb

Secretary of the Commission

Office of the Secretariat

Commodity Futures Trading Commission
Three Lafayette Centre

1155 21" Street, NW

Washington, DC 20581

Re: Amendments to Rules 10.02(a)(i), 10.51 and 10.54 —
Submission Pursuant to Section 5c(c)(2) of the Act and Regulation 40.4(b)(3) and (8)

Dear Ms. Webb:

In accordance with Section 5c(c)(2) of the Commodity Exchange Act, as amended, and
Regulation 40.4(b)(3) and (8), the Board of Trade of the City of New York, Inc. (the
“Exchange”) submits amendments to Rules 10.02(a)(i), 10.51 and 10.54, attached as Exhibit A.

The amendment to Rule 10.02(a)(i) concerns the delivery of cotton when the delivery
date is a bank holiday. When the delivery date for a Cotton No. 2 futures contract falls on a bank
holiday, the Clearing Corporation is unable to debit the receiver’s account and credit the
deliverer’s account for the full amount of the invoice. The current practice is for the deliverer
and the receiver to agree to postpone the delivery date until the next Exchange business day
which is not a bank holiday. The amendment codifies the practice.

The amendments to Rules 10.51 and 10.54 provide for the listing of two additional
Cotton Options contracts. One option is based on the December future and expires in the
previous October; the other is based on the March future and expires in the previous December.
Each contract expires on the third Friday of the expiration month, i.e., the third Friday in October
and the third Friday in December, respectively. Each contract will be listed on the business day
following the first trading day of the underlying futures contract. The listing of the two Option
contracts provides market participants with additional and potentially more efficient tools for
hedging and trading price risk.


-2-

The Exchange deems the amendments to be non-material changes as the amendments
meet the requirements of Regulation 40.4(b)(3) and (8).

The Exchange certifies that the amendments comply with the requirements of the
Commodity Exchange Act and the rules and regulations promulgated thereunder.

The amendments were approved by the Exchange’s Board of Governors on November
17, 2005. No substantive opposing views were expressed by members or others with respect to
the amendments. The amendment to Rule 10.02(a)(i) will become effective ten (10) days after
submission to the Commission. The amendments to Rules 10.51 and 10.54 will become
effective on a date set by the President but no earlier than ten (10) days after receipt of this
Submission by the Commission.

If you have any questions or need further information, please contact me at

jfassler@nybot.com or 212-748-4084.

Sincerely,

Jill S. Fassler
Vice President
Associate General Counsel

ce: Riva Adriance
Thomas Leahy
CFTC, Division of Market Oversight
Allen Cooper
CFTC, New York Regional Office



(In the text of the amendments below, additions are underlined and deletions are bracketed and
lined out.)

Rule 10.02. Definitions

(a) In this Chapter ‘and in all procedures and resolutions adopted by the Board hereunder, the
following terms shall have the meanings indicated, unless the context otherwise requires:

(i) Date of Delivery

The term “Date of Delivery” shall mean the date five (5) Business Days following the date of issue
of the Delivery Notice, except as the Rules may otherwise provide; provided, however, that if the
Date of Delivery is a bank holiday, the Date of Delivery shall mean the next Business Day that is not
a bank holiday.

[REMAINDER OF RULE UNCHANGED]

Rule 10.51. Trading Months for Options on Cotton No. 2 Futures Contracts

Trading in Options on Cotton No. 2 Futures Contracts shall be conducted in contract months as
shown below:

An option based on the March future that will expire in the previous December;

An option based on the March future that will expire in the previous February;

An option based on the May future that will expire in the previous April;

An option based on the July future that will expire in the previous June;

An option based on the October future that will expire in the previous September

An option based on the December future that will expire in the previous August;

An option based on the December future that will expire in the previous October; and

An option based on the December future that will expire in the previous November.

A new option contract month shall be listed for trading on the business day following the first trading

day of the underlying future contract. [menths-which pond+o-the following delivery ths-for-th
Under]: Fut Cont +: Dec ber—M; h—M; Ful d-Oetebs The+ i} 442) f. 3 t
FAS 7 o 5 Mays he}
ths_inthat 4 a ‘hall _-be-+traded—at-all ti —F the-D. bi fat 4 +f } end

Rule 10.54. Last Trading Day

(a) For all Options Contracts, other than the December options contract which shall expire in the
previous August and for which the Last Trading Day shall be the third Friday of the previous August, the
December options contract which shall expire in the previous October and for which the Last Trading
Day shall be the third Friday of the previous October, and the March Options contract which shall expire
in the pervious December and for which the Last Trading Day shall be the third Friday of the previous
December, the Last Trading Day shall be the last Friday which precedes the first notice day for the
Underlying Futures Contract by at least five (5) Business Days; provided, however, that in the event the
Exchange is closed on any such Friday:

(i) because such Friday is a designated Exchange Holiday which has been so designated for more
than one (1) week prior thereto, the Last Trading Day shall be the trading day preceding such Friday;
and

(ii) for any other reason, the Last Trading Day shall mean the first (1") trading day after such
Friday.

EXHIBIT A