Soybean Meal 720 15,000 6,500 200 200
(see #1,7) (see #1,7)
Soybean Crush Options N/A } 1,000 1,000 100
| Gee #1)
Ethanol 200 1,000 1,000 25
Ethanol Forward Month Swap N/A N/A N/A N/A N/A
Ethanol Previous Month Swap Niw Ni NA Nev Ne

#1 Additional futures contracts may be held outside of the spot month as part of futures/futures spreads
within a crop year provided that the total of such positions, when combined with outright positions, do not
exceed the all months combined limit. In addition, a person may own or control additional options in
excess of the futures-equivalent limits provided that those option contracts in excess of the futures-
equivalent limits are part of an eligible option/futures spread.

#2 No more than 1,000 futures-equivalent contracts net on the same side of the market are allowed in a
single month in all strike prices combined. Additional options contracts may be held as part of
option/options or option/futures spreads between months within the same crop year provided that the total
of such positions, when combined with outright positions, does not exceed the all months combined limit.
The futures-equivalents for both the options and futures contracts are aggregated to determine
compliance with these net same side single month position limits.

#3 No more than 13,500 futures-equivalent contracts net on the same side of the market are allowed in a
single month in all strike prices combined. Additional options contracts may be held as part of
option/option or option/futures spreads between months within the same crop year provided that the total
of such positions, when combined with outright positions, does not exceed the all months combined limit.
The futures-equivalents for both the options and futures contracts are aggregated to determine
compliance with these net same side single month position limits.

#4 No more than 6,500 futures-equivalent contracts net on the same side of the market are allowed in a
single month in all strike prices combined. Additional options contracts may be held as part of
option/option or option/futures spreads between months within the same crop year provided that the total
of such positions, when combined with outright positions, does not exceed the all months combined limit.
The futures-equivalents for both the options and futures contracts are aggregated to determined
compliance with these net same side single month position limits.

#5 In the last five trading days of the expiring futures month, the speculative position limit for the July
futures month will be 200 contracts and for the September futures month the limit will be 250 contracts.

#6 No more than 1,400 futures-equivalent contracts net on the same side of the market are allowed in a
single month in all strike prices combined. Additional options contracts may be held as part of
option/option or option/futures spreads between months within the same crop year provided that the total
of such positions, when combined with outright positions, does not exceed the all months combined limit.
The futures-equivalents for both the options and futures contracts are aggregated to determined
compliance with these net same side single month position limits.

#7 No more than 5,000 futures-equivalent contracts net on the same side of the market are allowed ina
single month in all strike prices combined. Additional options contracts may be held as part of
option/option or option/futures spreads between months within the same crop year provided that the total
of such positions, when combined with outright positions, does not exceed the all months combined limit.
The futures-equivalents for both the options and futures contracts are aggregated to determine
compliance with these net same side single month position limits.

#8 In the last five trading days of the expiring futures month in May, the speculative position limit will be
600 contracts if deliverable supplies are at or above 2,400 contracts, 500 contracts if deliverable supplies
are between 2,000 and 2,399 contracts, 400 contracts if deliverable supplies are between 1,600 and
1,999 contracts, 300 contracts if deliverable supplies are between 1,200 and 1,599 contracts, and 220
contracts if deliverable supplies are below 1,200 contracts. Deliverable supplies will be determined from


- Deletion struck through -

Appendix 4C
*SPOT *SINGLE *ALL *REPORTABLE *REPORTABLE
CONTRACT MONTH MONTH. MONTH FUTURES LEVEL | OPTIONS LEVEL
Credit Default Swap Index None None None 200
30-Year Interest Rate Swap None None None 500
10-Year Interest Rate Swap None None None 500 500.
5-Year Interest Rate Swap None None None 500 } 500 __|
Binary Options on the Fed None None None { 600
ICBOT Dow Jones Industrial None None 50,000 200
AverageTM Index ($25 multiplier) (aggregate
DJIATM limit,
see #9)
ICBOT Dow Jones Industrial None None | 50,000 200 200
|AverageTM Index | (aggregate
| | DJIATM limit,
i see #9)
ICBOT mini-sized DowTM ($5 None None 50,000 200 200
multiplier) | (aggregate
| | DJIATM limit,
{ see #9)
ICBOT Dow Jones-AIG Excess Retum None None None 200
Commodity
IndexTM”
ICBOT Dow JonesTM US Real Estate None None 5,000 200
Index
ICBOT 5,000 oz. Silver 1,500 6,000 6,000 150 150
|CBOT 100 oz. Gold 3,000 6,000 6,000 200 200
|CBOT mini-sized Silver 1,500 1,500 3,000 750 L
ICBOT mini-sized Gold 4,000 4,000 6,000 600.
U.S. Treasury Bonds (see #13) None None 1,500 1,500
U.S. Treasury Notes (Syr.) (see #13) None None 2,000 2,000
U.S. Treasury Notes (6 1/2-10yr.) (see #13) None None 2,000 2,000
U.S. Treasury Notes (2yr.) (see #13) None None 1,000 1,000
30 Day Fed Fund None None None 600 600
mini-sized Eurodollars 10,000 10,000 10,000 400_
(Corn and CBOT mini-sized Corn 600 13,500 22,000 250 250
(aggregate, | (aggregate, | (aggregate, see (individual,
see #10) | see #1, 10) #1, 3, 10) see #11)
Soybeans and 600 6,500 10,000 150 150
|CBOT mini-sized Soybeans (aggregate, | (aggregate, | (aggregate, see (individual,
see #10) see#1,10)! #1, 4, 10) see #11)
South American Soybeans 600 3,500 5,500 25
(see #12) (see #1) (see #1)
‘Wheat and 600 5,000 6,500 150 150
ICBOT mini-sized Wheat (aggregate, | (aggregate, | (aggregate, see (individual,
see #8, 10) | see #1, 10) #1, 7, 10) see #11)
Oats 600 1,400 2,000 60 60
(see #1) (see #1,6)
Rough Rice 600 1,000 1,000 50 i 50
(see#S) (see#2)
Soybean Oil 540 5,000. | 6,500 200 200
(see #1,7) | (see #1,7) _



the CBOT’s Stocks of Grain report on the Friday preceding the first notice day for the May contract month.
For the purposes of this Appendix, one mini-sized Wheat contract shall be deemed to be equivalent to
one-fifth of a corresponding Wheat contract.

#9 The aggregate position limit in DJIA Index ($25 multiplier) futures, mini-sized Dow ($5 multiplier)
futures and options, and DJIA Index futures and options is 50,000 DJIA Index futures contracts, net long
or net short in all contract months combined. For the purposes of this appendix:

- One DJIA Index futures contract shall be deemed to be equivalent to two mini-sized Dow ($5
multiplier) contracts.

- One DJIA Index ($25 multiplier) futures contract shall be deemed to be equivalent to five mini-
sized Dow ($5 multiplier) contracts.

- Two DJIA Index ($25 multiplier) futures contracts shall be deemed to be equivalent to five DJIA
Index futures contracts.

#10 The net long or net short positions in Corn, Soybeans, or Wheat contracts may not exceed their
respective position limits. The net long or net short positions in mini-sized Corn, mini-sized Soybeans, or
mini-sized Wheat contracts may not exceed their respective position limits. The aggregate net long or net
short positions in Corn and mini-sized Corn, Soybeans and mini-sized Soybeans, or Wheat and mini-
sized Wheat contracts may not exceed their respective position limits. For the purposes of this Appendix,
one mini-sized Corn, one mini-sized Soybean, or one mini-sized Wheat contract shall be deemed to be
equivalent to one-fifth of a corresponding Corn, Soybeans, or Wheat contract.

#11 The reporting level for the primary contract is separate from the reporting level for the mini-sized
contract. Positions in any one month at or above the contract level indicated trigger reportable status.
For a person in reportable status, all positions in any month of that contract must be reported. For the
purposes of this Appendix, positions are on a contract basis.

#12 In the last five trading days of the expiring futures month, the speculative position limit for the
November futures month will be 180 contracts and for the January futures month the speculative position
limit will be 100 contracts.

#13 In the last ten trading days of the expiring futures month, the following position limits in the expiring
contract will apply: U.S. Treasury Bonds — 25,000 contracts; U.S. Treasury Notes (6% - 10 Year) —
60,000 contracts; U.S. Treasury Notes ( 5 Year) — 45,000 contracts; U.S. Treasury Notes (2 Year) -
25,000 contracts. No hedge exemptions will be permitted with respect to these limits.


July 25, 2007

Ms. Eileen A. Donovan

Acting Secretary

Commodity Futures Trading Commission
Three Lafayette Center

1155 21* Street, N.W.

Washington, D.C. 20581

Reference File # 2813.01
Rule Certification
Dear Ms. Donovan:

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

- Deletion of Rulebook Chapter 60 and amendment to Rulebook Appendix 4C
(“Position Limits and Reportable Positions”) as indicated in the attached
texts.

The referenced rulebook provisions set forth specifications for the Exchange’s Denatured Fuel
Ethanol Previous Month Swap product. This product was introduced for trading on an OTC
basis and for clearance through the Exchange’s Clearing Services Provider. There is no open
interest in this product. The referenced amendments reflect the discontinuance of this product.

The CBOT intends to implement these amendments one day after the Commission’s receipt of
this submission.

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
e071007


- Delete Entire Chapter —

Chapter 60
Denatured Fuel Ethanol Previous Month Swap

Ch60 Trading Conditions

6001.01 Authority - Trading in Denatured Fuel Ethanol Previous Month Swaps may be
conducted under such terms and conditions as may be prescribed by Regulation. (12/04/06)

6002.01 Application of Regulation - Transactions in Denatured Fuel Ethanol Previous Month
Swaps shall be subject to the general Rules of the Exchange as far as applicable and shall also be
subject to the Regulations contained in this chapter, which are exclusively applicable to trading in
Denatured Fuel Ethanol Previous Month Swaps. (12/04/06)

6004.01 Unit of Trading - The unit of trading shall be 14,500 gallons of Denatured Fuel Ethanol.
Bids and offers may be accepted in dollars and cents and tenths of a cent or multiples thereof per gallon.
(12/04/06)

6005.01 Months Traded In - Trading in Denatured Fuel Ethanol Previous Month Swaps is
regularly conducted in all twelve months but shall be permitted in the current delivery month plus any
succeeding months. The number of months to be open at one time shall be at the discretion of the
Exchange. (12/04/06)

6006.01 Price Basis — Minimum price fluctuations shall be in multiples of one tenth of one cent
($0.001) per gallon. Contracts shall not be made on any other price basis. (12/04/06)

6007.01 Hours for Clearing Entry — The Exchange shall determine the hours during which
Denatured Fuel Ethanol Previous Month Swaps may be submitted to the Clearing Services Provider.

Positions shall be initiated or closed out using off-exchange transactions. (12/04/06)

6009.01 Last Day of Trading — The last day of trading in Denatured Fuel Ethanol Previous
Month Swaps deliverable in the current delivery month shall be the trading day immediately preceding the
final settlement day as prescribed in Regulation 6042.03. (12/04/06)

6009.02 Liquidation During the Delivery Month - After trading in contracts for future delivery in
the current delivery month has ceased, in accordance with Regulation 6009.01 of this chapter,
outstanding contracts for such delivery shall be liquidated by cash settlement as prescribed in Regulation
6042.01. (12/04/06)

6010.01 Margin Requirements - See Regulation 431.03. (12/04/06)

6011.01 Disputes - All disputes between interested parties may be settled by arbitration as
provided in the Rules and Regulations. (12/04/06)

6012.01 Position Limits and Reportable Positions - See Regulation 425.01. (12/04/06)


Ch60 Delivery Procedures

6036.01 Standards - The contract grade shall be the final settlement price (as described in
Regulation 6042.02) on final settlement day (as described in Regulation 6042.03). (12/04/06)

6042.01 Delivery - Delivery against Denatured Fuel Ethanol Previous Month Swaps must be
made through the Clearing Services Provider. Delivery under these regulations shall be on the final
settlement day (as described in Regulation 6042.03) and shall be accomplished by cash settlement.

Clearing members holding open positions in Denatured Fuel Ethanol Previous Month Swaps at the time
of termination of trading shall make payment to and receive payment through the Clearing Services
Provider in accordance with normal variation settlement procedures based on a settlement price equal to
the final settlement price (as described in Regulation 6042.02). (12/04/06)

6042.02 Final Settlement Price and Daily Settlement During the Last Month of Trade - The
final settlement price shall be determined on the final settlement day. Final settlement shall be the
cumulative average of the settlement prices for the corresponding CBOT Denatured Fuel Ethanol futures
contract for each trading day in the month prior to the Denatured Fuel Ethanol Previous Month Swap
contract month.

For example, final settlement for a May Denatured Fuel Ethanol Previous Month Swap would be the
cumulative average of daily settlement for the May Denatured Fuel Ethanol futures contract during the
month of April.

Settlement during the last month of trade (i.e., the month prior to the Denatured Fuel Ethanol Previous
Month Swap contract month) shall be the cumulative average of the settlement prices for the
corresponding CBOT Denatured Fuel Ethanol futures contract for each trading day in the last month of
trading the Denatured Fuel Ethanol Previous Month Swap contract.

For example, the daily settlement for a May Denatured Fuel Ethanol! Previous Month Swap on the 5”
trading day in April would be the average over the first 5 trading days in April of the May Denatured Fuel
Ethanol futures contract. On the 6” trading day, the daily settlement would be the average over the first 6
trading days. (12/04/06)

6042.03 Final Settlement Day - The final settlement day shall be defined as the last trading day
of the month prior to the contract month. (12/04/06)

6042.04 Daily Settlement - Daily settlement other than settlement on the final settlement day (as
described in Regulation 6042.03) or during the last month of trading shall be the settlement price for the
corresponding CBOT Denatured Fuel Ethanol futures contract. (12/04/06)

6047.01 Payment - See Regulation 1049.04 (12/04/06)