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Chapter 15 - CBOT 100 oz. Gold Futures

1542.01 Deliveries by Vault Receipts

In order to be valid for delivery against futures contracts, the vault receipt must be issued in
accordance with the requirements under Regulation 1536.01 and Appendix 15A. The vault
receipt must be issued before 4:00 p.m. on notice day, the business day prior to the day of
delivery; however, in the case of delivery on the last delivery day of the delivery month, the
vault receipt must be issued before 1:00 p.m. Deliveries on Gold futures contracts shall be made
by the delivery of depository vault receipts issued by vaults which have been approved and
designated as regular vaults by the Exchange for the storage of Gold, using the electronic fields
which the Exchange and the Clearing Services Provider require to be completed. Gold in bars
must come to the regular vault directly from an approved source or from another regular vault
either on the Chicago Board of Trade or the COMEX Division of the New York Mercantile
Exchange, Inc., by insured or bonded carrier.

In order to effect a valid delivery, each vault receipt must be endorsed by the clearing member

endorsement, the endorser shall be deemed to warrant, to his transferee and each subsequent
transferee of the receipt for delivery on Exchange contracts, and their respective immediate
principals, the genuineness, validity, and worth of such receipt, the rightfulness and effectiveness
of his transfer thereof, and the quantity and quality of the Gold shown on the receipt. Such
endorsement shall also constitute a representation that all storage charges have been paid up to
and including the business day following the day of delivery. Prepaid storage charges shall be



electronic delivery system via the Clearing Services Provider’s on-line system. Delivery of a
vault receipt to the holder of the WDRs shall not constitute a guaranty by the Exchange of
performance by the vault.

The followine £ " d it ipt- shall bi di:
S iP 7

Beard -ef Trade of the Cit-ef Chi }
y >

f the City of Chi } th
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£three-Original Negotiable Wareh



B Identification{serial bi

Receipts shall betettered bered tisyelyb: h Jt No-ty ipts-shallb

the-sameteterornumber-

Where a clearing member of the Exchange delivers silver in bars on an Exchange contract, but
did not order such silver into a regular vault, the clearing member shall, for the purposes of
Regulation m1442.01, be deemed the original endorser of the vault receipt, and shall warrant to
his transferee and each subsequent transferee that such silver was delivered to the regular vault
under the terms of Regulation m1442.01.

m1444.01 Ferm-ef Deliveries by Silver Warehouse Depository Receipt

Deliveries of CBOT mini-sized Silver may be made by delivery of Warehouse Depository
Receipts (WDRs), created by the Exchange from registered vault receipts issued by vaults which
have been declared regular for delivery of silver by the Exchange, utilizing the electronic
delivery system via the Clearing Services Provider’s on-line system. In order to effect a valid
delivery, each WDR must be endorsed by the clearing member making the delivery, and transfer
as specified herein constitutes endorsement. Such endorsement shall constitute a warranty of the
genuineness of the WDR and of good title thereto, but shall not constitute a guaranty, by an
endorser, of performance by the vault. Such endorsement shall also constitute a representation
that all storage charges have been paid on the silver covered by the WDR, in accordance with
Regulation m1456.01.

WDRs may not be cancelled for load-out. Upon the return of a WDR to the Exchange, and
payment of all storage charges pertaining to the silver represented, for which the Exchange
claims a lien, a registered vault receipt will be delivered by the Exchange to the holder of the
WDR, utilizing the electronic delivery system via the Clearing Services Provider’s on-line
system. Delivery of a vault receipt to the holder of the WDR shall not constitute a guaranty by
the Exchange of performance by the vault.

The-followine-f of Hy d it istshall-bi ds
‘Ot Ss ss te i ¥ ip +
Beard-of Trade ofthe City-of Chi rf
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charged to the buyer by the seller for a period extending beyond the business day following the
day of delivery (but not in excess of one year) pro rata for the unexpired term and adjustments
shall be made upon the invoice thereof.

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1543.02 Issuance of Vault Receipts

The Exchange and the Clearing Services Provider shall determine the electronic fields which are
required to be completed in connection with the issuance of an electronic vault receipt that is
delive ‘able in satisfaction of Arfterthe Gold futures contrac Ras reeed+. 4 Ht

A BR d aa
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ral WW, htof 1,
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R i3ts-shall-_betett vt by d- tye} 1¢-No-+y ipts-shall-b
‘P Hy by-each vault -Ne-tve-+ pt
thi lett bs 7 (10/0104)

Chapter m15 - mini-sized Gold Futures

m1542.01 Deliveries by Vault Receipts

In order to be valid for delivery against futures contracts, the vault receipt must be issued in
accordance with the requirements under Regulation m1536,01 and Appendix mI5A. The vault
receipt must be issued before 4:00 p.m. on notice day, the business day prior to the day of
delivery; however, in the case of delivery on the last delivery day of the delivery month, the
vault receipt must be issued before 1:00 p.m. Deliveries on mini-sized Gold futures contracts
shall be made by the delivery of depository vault receipts issued by vaults which have been
approved and designated as regular vaults by the Exchange for the storage of Gold, or by the
delivery of Warehouse Depository Receipts as specified in Regulation m1544.01, using the
electronic fields which the Exchange and the Clearing Services Provider require to be completed.
Gold in bars must come to the regular vault directly from an approved source or from another
regular vault either on the Chicago Board of Trade or the COMEX Division of the New York
Mercantile Exchange, Inc., by insured or bonded carrier.

In order to effect a valid delivery, each vault receipt must be endorsed by the clearing member
making the delivery, and transfer as specified herein constitutes endorsement, t By-thetenderoFe
fa ipth Geldduly ed, for deli: 7 ££ the lot a 2 te +;-By such
endorsement, the endorser shall be deemed to warrant, to his wnansforee and each subsequent
transferee of the receipt for delivery on Exchange contracts, and their respective immediate



November 17, 2006

Ms. Eileen A. Donovan

Acting Secretary

Commodity Futures Trading Commission
Three Lafayette Center

1155 21 Street, N.W.

Washington, D.C. 20581

Reference File # 2744.01
Rule Certification
Dear Ms. Donovan:

Pursuant to Commission Regulation 40.6(a), the Chicago Board of Trade (CBOT®) hereby
submits the following:

- Amendments to Regulations 1442.01, 1443.02, m1442.01, m1443.02,
m1441.01, 1542.01, 1543.02, m1542.01, m1543.02 and m1544.01 per the
attached texts (additions underlined, deletions struck through).

The referenced regulations govern the delivery mechanisms for CBOT full-sized and mini-sized
Silver and Gold futures contracts. The referenced revisions reflect the implementation of an
electronic vault receipt system to facilitate the delivery process for these contracts.

The CBOT intends to implement these amendments as of November 20, 2006.

There were no opposing views concerning these amendments.

The CBOT certifies that these amendments comply with the Commodity Exchange Act and the
rules thereunder.

Sincerely,

Paul J. Draths
Vice President and Secretary

b103106


principals, the genuineness, validity, and worth of such receipt, the rightfulness and effectiveness
of his transfer thereof, and the quantity and quality of the Gold shown on the receipt. Such
endorsement shall also constitute a representation that all storage charges have been paid up to
and including the business day following the day of delivery. Prepaid storage charges shall be
charged to the buyer by the seller for a period extending beyond the business day following the
day of delivery (but not in excess of ninety days) pro rata for the unexpired term and adjustments
shall be made upon the invoice thereof.

x kk x
m1543,02 Issuance of Vault Receipts

The Exchange and the Clearing Services Provider shall determine the electronic fields which are

required to be completed in connection with the issuance of an electronic vault receipt that is
deliverable in satisfaction of Afterthe mini-sized Gold futures contracts. has-been-plecedin-a

1 Ht tiabl. Je ipts-shall- bei d-to-it ith the-fol}
S' iP

ral W, ht of Lb.
S 2
R ipts-shall - be lett ve by ve tela: b: Hh Ht No ty 49¢5-shalt-bi
- y-by-ea eHt—No+ ipts shal
th ne Jott, iy 6 fal Of)

m1544,01 Deliveries by Gold Warehouse Depository Receipt

Deliveries of CBOT mini-sized Gold shalt may be made by delivery of Warehouse Depository
Receipts (WDR), created by the Exchange from registered vault receipts issued by vaults against
which have been declared regular for delivery of Ggold by the
Exchange, utilizing the electronic delivery system via the Clearing Services Provider’s on-line
system. In order to effect a valid delivery, each WDR must be properly endorsed by the helder
clearing member making the delivery, and transfer as specified herein constitutes endorsement.
Such endorsement shall constitute a warranty of the genuineness of the WDR and of good title
thereto, but shall not constitute a guaranty, by an endorser, of performance by the vault. Such
endorsement shall also constitute a representation that all storage charges have been paid on the
eommedity gold covered by the WDR, in accordance with Regulation m1 556.01.

WDRs may not be cancelled for load-out. Upon the retum of three (3) preperky-endersed WDRs
to the Exchange, and payment of all storage charges pertaining to the Ggold represented, for

which the Exchange claims a lien, a registered vault receipt that meets the delivery specifications
ofthe CBOF will be delivered by the Exchange to the holder of the three (3) WDRs, utilizing the



Additions underlined; Deletions strackthreugh.

Chapter 14 CBOT 5,000 oz. Silver Futures

1442.01 Deliveries by Vault Receipts - In order to be valid for delivery ‘against futures
contracts, the vault receipt must be issued in accordance with the requirements under Regulation
1436.01 and Appendix 14A. The vault receipt must be issued before 4:00 p.m. on notice day, the
business day prior to the day of delivery; however, in the case of delivery on the last delivery day
of the delivery month, the vault receipt must be issued before 1:00 p.m. Deliveries on silver
futures contracts shall be made by the delivery of depository vault receipts issued by vaults
which have been approved and designated as regular vaults by the Exchange for the storage of
silver, using the electronic fields which the Exchange and the Clearing Services Provider require
to be completed. Silver in bars must come to the regular vault directly from an approved source
or from another regular vault either on the Chicago Board of Trade or the COMEX Division of
the New York Mercantile Exchange, Inc., by insured or bonded carrier.

In order to effect a valid delivery, each vault receipt must be endorsed by the clearing member
making the delivery, and transfer as specified herein constitutes endorsement.

endorsement, the endorser shall be deemed to warrant, to his transferee and each subsequent
transferee of the receipt for delivery on Exchange contracts, and their respective immediate
principals, the genuineness, validity, and worth of such receipt, the rightfulness and effectiveness
of his transfer thereof, and the quantity and quality of the silver shown on the receipt. Such
endorsement shall also constitute a representation that all storage charges have been paid up to
and including the business day following the day of delivery. Prepaid storage charges shall be
charged to the buyer by the seller for a period extending beyond the business day following the
day of delivery (but not in excess of one year) pro rata for the unexpired term and adjustments
shall be made upon the invoice thereof.

Oe OO ‘

1443.02 Issuance of Vault Receipts — The Exchange and the Clearing Services Provider shall
determine the electronic fields which are required to be completed in connection with the
issuance of an electronic vault receipt that is deliverable in satisfaction of After+the sSilver
futures contracts. has-b : Hee eceipts-sh ed

A-Brand-ormarkings;
Bld tificati £ sot bereot bh bor:

Receipts-shall_be lettered. bered. tively: 4 H-Net ipts-shallb


Where a clearing member of the Exchange delivers silver in bars on an Exchange contract, but
did not order such silver into a regular vault, the clearing member shall, for the purposes of
Regulation 1442.01, be deemed the original endorser of the vault receipt, and shall warrant to his
transferee and each subsequent transferee that such silver was delivered to the regular vault
under the terms of Regulation 1442.01.

Chapter m14 - mini-sized Silver Futures

m1442.01 Deliveries by Vault Receipts

In order to be valid for delivery against futures contracts, the vault receipt must be issued in
accordance with the requirements under Regulation m1436.01 and Appendix m14A. The vault
receipt must be issued before 4:00 p.m. on notice day, the business day prior to the day of
delivery; however, in the case of delivery on the last delivery day of the delivery month, the
vault receipt must be issued before 1:00 p.m. Deliveries on mini-sized silver futures contracts
shall be made by the delivery of depository vault receipts issued by vaults which have been
approved and designated as regular vaults by the Exchange for the storage of silver, or by the
delivery of Warehouse Depository Receipts as specified in Regulation m1444.01, using the
electronic fields which the Exchange and the Clearing Services Provider require to be completed.
Silver in bars must come to the regular vault directly from an approved source or from another
regular vault either on the Chicago Board of Trade or the COMEX Division of the New York
Mercantile Exchange, Inc., by insured or bonded carrier.

In order to effect a valid delivery, each vault receipt must be endorsed by the clearing member
making the delivery and transfer as specifi ed herein constitutes endorsement, By-thetender-ofa

e nd d a By such
endorsement the endorser shall be “deemed to warrant, to “his transferee and each subsequent
transferee of the receipt for delivery on Exchange contracts, and their respective immediate
principals, the genuineness, validity, and worth of such receipt, the rightfulness and effectiveness
of his transfer thereof, and the quantity and quality of the silver shown on the receipt. Such
endorsement shall also constitute a representation that all storage charges have been paid up to
and including the business day following the day of delivery. Prepaid storage charges shall be
charged to the buyer by the seller for a period extending beyond the business day following the
day of delivery (but not in excess of one year) pro rata for the unexpired term and adjustments
shall be made upon the invoice thereof.

kOe OK OK

m 1443.02 Issuance of Vault Receipts

The Exchange and the Clearing Services Provider shall determine the electronic fields which are
required to be completed in connection with the issuance of an electronic vault receipt that is
deliverable in satisfaction of After the mini-sized sSilver futures contracts. has-been-placedin-e

ahi ault tiabl ifs ts—shall_ be d—te—it with—the—foll.

regut seg ip sued—te—its— OF 3