Exhibit A

HEDGE
Street
the Silver Binary Hedgelet Contract, the Payout Criteria for the Contracts will be
set as follows:
(i) SPOT SILVER BINARY CONTRACTS

(1) Binary Hedgelet Contract 1: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest five ten cents €S} (10)) — 25 50.

(2) Binary Hedgelet Contract 2: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest five ten cents €$) (10)) — 20 40.

(3) Binary Hedgelet Contract 3: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest five ten cents €$} (10)) — 45 30.

(4) Binary Hedgelet Contract 4: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest five ten cents €$) (10)) — 40 20.

(5) Binary Hedgelet Contract 5: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest five ten cents €$) (10)) — 5 10.

(6) Binary Hedgelet Contract 6: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest five ten cents €$) (10)).

(7) Binary Hedgelet Contract 7: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest five ten cents €$) (10)) + 5 10.

(8) Binary Hedgelet Contract 8: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest five ten cents €S} (10)) + 46 20.

(9) Binary Hedgelet Contract 9: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest five ten cents €S) (10)) + +5 30.

(10) Binary Hedgelet Contract 10: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest five ten cents €S} (10)) + 20 40.

(11) Binary Hedgelet Contract 11: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest five ten cents €5) (10)) + 25 50.

(12) In each case, “*X” equals the last Silver Price rounded to the
nearest five ten cents €S) (10), as reported by the Source Agency.

(ii) [unchanged]

(g) — (0) [unchanged]

1825 S. Grant Street

Suite 500

‘San Mateo, CA 94402

Tel: 650.638.3500
wwrw.hedgestroet.com Fax: 650.638.3501


Exhibit A

HEDGE
Street

(5) Binary Hedgelet Contract 5: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest ten twenty cents ($049) ($0.20)) -

(6) Binary Hedgelet Contract 6: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest ten twenty cents ($040) ($0.20).

(7) Binary Hedgelet Contract 7: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest ten twenty cents ($040) ($0.20))
+ $046 $0.20.

(8) Binary Hedgelet Contract 8: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest ten twenty cents ($010) ($0.20.
+ $0.20 $0.40.

(9) Binary Hedgelet Contract 9: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest ten twenty cents ($040) ($0.20
+ $030 $0.60.

(10) Binary Hedgelet Contract 10: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest ten twenty cents ($010) ($0.20))
+ $0-48 $0.80.

(11) Binary Hedgelet Contract 11: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest ten twenty cents ($040) ($0.20))
+ $050 $1.00.

(12) In each case, “X” equals the last Expiration Value of Natural Gas
rounded to the nearest ten twenty cents ($049) ($0.20), as reported by the Source
Agency.

(ii) {unchanged}
(g) — (0) [unchanged]
RULE 12.69 [unchanged]
RULE 12.70 SILVER BINARY HEDGELET CONTRACTS
(a) - (e) [unchanged]

(f) PAYOUT CRITERION - The Payout Criterion for each Contract
will be set by HedgeStreet at the time the Binary Contracts are initially issued. For

1825 S. Grant Street

Suite 500

‘San Mateo, CA 94402

Tel: 650.638.3500
www .hedgestreet.com Fax: 650.638.3501


Exhibit A

HEDGE
Street
RULES 12.71 — 12.76 [unchanged]

RULE 12.77 COPPER BINARY HEDGELET CONTRACTS
(a) - (e) [unchanged]

(f) PAYOUT CRITERION — The Payout Criterion for each Contract
will be set by HedgeStreet at the time the Binary Contracts are initially issued. For
the Copper Binary Hedgelet Contract, the Payout Criteria for the Contracts will be
set as follows:

(i) SPOT COPPER BINARY CONTRACTS

(1) Binary Hedgelet Contract 1: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest 2-5 five (5) cents) — 40 20.

(2) Binary Hedgelet Contract 2: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest 2-5 five (5) cents) - #5 15.

(3) Binary Hedgelet Contract 3: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest 2-5 five (5) cents) — 5 10.

(4) Binary Hedgelet Contract 4: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest 2-5 five (5) cents) - 2-5 5.

(5) Binary Hedgelet Contract 5: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest 2-5 five (5) cents).

(6) Binary Hedgelet Contract 6: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest 2-5 five (5) cents) + 2-5 5.

(7) Binary Hedgelet Contract 7: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest 2-5 five (5) cents) + 5 10.

(8) Binary Hedgelet Contract 8: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest 2-5 five (5) cents) + +5 15.

(9) Binary Hedgelet Contract 9: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest 2-5 five (5) cents) + 40 20.

(10) In each case above, “X” is measured in U.S. cents and equals the
last Copper value rounded to the nearest five (5) cents, as reported by the Source
Agency.

(g) — (0) [unchanged]

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


HEDGE
Street

OFC.GF isc SECR

May 31, 2006

VIA EMAIL: sccretary@cftc.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: Rule Certification: HedgeStreet® Amends Payout Criteria for Gold, Natural Gas,
Silver, and Copper Binary Hedgelet Contracts — Submission pursuant to
Commission Regulation §40.6(a)

Dear Secretary Donovan:

Pursuant to Section Se(c)(1) of the Commodity Exchange Act, as amended (“Act”), §40.6(a) of the
regulations promulgated by the Commodity Futures Trading Commission (the “Commission”) under
the Act, HedgeStreet, Inc. (““HedgeStreet”) hereby certifies with the Commission certain
amendments to the Payout Criteria for the following Binary Spot Hedgelet Contracts (“Contracts”)
as represented by the following Rules.

Rule 12.66 Gold Binary Hedgelet Contracts

Rule 12.68 Natural Gas Binary Hedgelet Contracts
Rule 12.70 Silver Binary Hedgelet Contracts

Rule 12.77 Copper Binary Hedgelet Contracts

The amendments to the Payout Criteria for these Contracts are defined in Exhibit A. The rule
deletions are stricken out and the amendments and/or additions are underlined.

HedgeStreet intends to implement these rule amendments for all new Spot Gold, Natural Gas, Silver
and Copper Binary Hedgelets on Thursday, June 1, 2006.

No substantive opposing views were expressed to HedgeStreet with respect to these amendments.

Should you have any questions regarding the above, please do not hesitate to contact Stephanie Ford
by telephone at (650) 638-3511 or by email at sford@hedgestreet.com.

Sincerely,

Stephanie Ford
Vice President, Legal & Compliance

cee: Tom Leahy — CFTC
Clarissa Manansala — HedgeStreet , Inc.

iy

RECEIVED
TATE,

POS EAY 31 PS 50

ETARIAT

1825 S. Grant Street

Suite 500

San Mateo, CA 94402
Tel: 650.638.3500
www.hedgestreet.com Fax: 650.638.3501


HEDGE
Street

Exhibit A

EXHIBIT A

Amendment to Rules 12.66(f), 12.68(f), 12.70(f), and 12.77(6)
(The following new Rule additions are underlined and deletions are stricken out)

RULE 12.66 GOLD BINARY HEDGELET CONTRACTS

(a) - (e) [unchanged]

(f) PAYOUT CRITERION — The Payout Criterion for each Contract

will be set by HedgeStreet at the time the Binary Contracts are initially issued. For
the Gold Binary Hedgelet Contract, the Payout Criteria for the Contracts will be set

as follows:

(i) SPOT GOLD BINARY HEDGELET CONTRACTS

(1) Binary Hedgelet Contract 1:
Criterion of greater than X — $40.06 $12.50.

(2) Binary Hedgelet Contract 2:
Criterion of greater than X — $8-06 $10.00.

(3) Binary Hedgelet Contract 3:
Criterion of greater than X — $6-00 $7.50.

(4) Binary Hedgelet Contract 4:
Criterion of greater than X — $4-90 $5.00.

(5) Binary Hedgelet Contract 5:
Criterion of greater than X — $2.00 $2.50.

(6) Binary Hedgelet Contract 6:
Criterion of greater than X.

(7) Binary Hedgelet Contract 7:
Criterion of greater than X + $2.00 $2.50.

(8) Binary Hedgelet Contract 8:
Criterion of greater than X + $4.00 $5.00.

(9) Binary Hedgelet Contract 9:
Criterion of greater than X + $6-00 $7.50.

www.hedgestreet.com

One Contract will have a Payout
One Contract will have a Payout
One Contract will have a Payout
One Contract will have a Payout
One Contract will have a Payout
One Contract will have a Payout
One Contract will have a Payout
One Contract will have a Payout

One Contract will have a Payout

1825 S. Grant Street
Suite 500

San Mateo, CA 94402
Tel: 650.638.3500
Fax: 650.638.3501


Exhibit A

HEDGE
Street

(10) Binary Hedgelet Contract 10: One Contract will have a Payout
Criterion of greater than X + $8-00 $10.00.

(11) Binary Hedgelet Contract 11: One Contract will have a Payout
Criterion of greater than X + $40.00 $12.50.

(12) In each case, “X” equals the last Gold price (rounded to the
nearest even-deHar ($2) two dollars and fifty cents ($2.50)), as reported by the
Source Agency.

(ii) (unchanged]
(g) — (0) [unchanged]
RULE 12.67 [unchanged]
RULE 12.68 NATURAL GAS BINARY HEDGELET CONTRACTS
(a) - (e) [unchanged]

(f) PAYOUT CRITERION - The Payout Criterion for each Contract
will be set by HedgeStreet at the time the Binary Contracts are initially issued. For
the Natural Gas Binary Hedgelet Contract, the Payout Criteria for the Contracts will

be set as follows:
(i) SPOT NATURAL GAS BINARY CONTRACTS

(1) Binary Hedgelet Contract 1: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest ten twenty cents ($649) ($0.20)) -

(2) Binary Hedgelet Contract 2: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest ten twenty cents ($010) ($0.20)) -

(3) Binary Hedgelet Contract 3: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest ten twenty cents ($049) ($0.20)) -

(4) Binary Hedgelet Contract 4: One Contract will have a Payout
Criterion of greater than X (rounded to the nearest ten twenty cents ($0410) ($0.20)) -

1825 S. Grant Street

Suite 500

San Mateo, CA 94402

Tel: 850.638.3500
www.hedgestreet.com Fax: 650.638.3501