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Electronic Mail July 28, 2006

Ms. Eileen A. Donovan So
Acting Secretary of the Commission o
Commodity Futures Trading Commission S
Three Lafayette Centre =
1155 21st Street NW Fe
Washington, D.C. 20581 &
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SUBJECT: Rule Certification =
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Dear Ms. Donovan: >

Pursuant to Commodity Exchange Act ("CEAct”) Section 5c(c)(1) and Commodity
Futures Trading Commission (“Commission”) Regulation 40.6(a), the Minneapolis Grain
Exchange (“MGEX” or “Exchange”) hereby certifies that the attached amended
Regulation 2087.00. complies with the CEAct and the regulations thereunder.
Additionally, attached is a housekeeping change to the Index page of the MGEX
Rulebook. Additions have been underlined while deletions have been marked through.

The purpose for amending the Regulation is to include financial requirements for Non-
Futures Commission Merchants and Independent Introducing Brokers who are
members of the Exchange.

Pursuant to the authority of MGEX Rule 253.00., the Finance Committee unanimously
recommended amending the Regulation, and pursuant to the authority of MGEX Rule
210.01., the Board of Directors unanimously approved amending the Regulation. The
MGEX plans to implement the changes the next business day after receipt of this letter
to the Commission.

If there are any questions regarding this submission, please contact me at (612) 321-
7190. Thank you for your attention to this matter.

Sincerely, _

Sandra S. Sullivan

Director, Market Regulation
Enclosure

cc: Anne Reuter

Department of Audits and Investigations 130 Grain Exchange Building 400 South 4th Street Minneapolis, MN 55415-1413
800.827.4746 612.321.7165 Fax: 612.321.7180 equal opportunity employer

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2087.00. MINIMUM FINANCIAL REQUIREMENTS FOR NON-FUTURES
COMMISSION MERCHANTS MEMBER FIRMS AND NON-GUARANTEED
INDEPENDENT INTRODUCING BROKERS.

A. Financial Requirements. All__Non-Futures Commission
Merchants (“FCM’) and Independent Introducing Brokers (“IB’)

who_are Members of the Exchange must_meet the minimum
financial_requirements_set_forth by the Finance Committee
pursuant to MGEX Rule 253.00. as now in effect_or hereafter
amended.

AB. Financial Statement Content. All Non-FCM_pen-Futures
Commission Merchant CFGM"}-Member Firms and Independent
IBs_non-Guaranteed—ntreducing—Broker_(18"}—must submit
financial statements in the manner and form prescribed by the
Finance Committee. At a minimum, all annual audited financial
statements must include a balance sheet, footnotes, and be
accompanied by an opinion of an independent Certified Public
Accountant indicating that an examination of the annual statement
has been made. Interim statements, which are those financial
statements prepared for periods other than the Member Firm's
fiscal year end, must contain, at a minimum, a balance sheet.

BC. Reports. All ReANon-FCM Member Firms and Independent rer-
Guaranteed-IBs must submit to the Exchange an annual certified
financial statement for its fiscal year (or calendar year if the
Member Firm is on a calendar year basis.) The certified annual
financial statement must be submitted to the Exchange within
ninety (90) days after the Member Firm's fiscal year end.

Additionally, all neaNon-FCM Member Firms and Independent
non-Guaranteed-IBs must submit an interim financial statement to
the Exchange. Such interim statement shall be as of a date six (6)
months subsequent to the Member Firm's fiscal year end and
must be submitted to the Exchange within forty-five (45) days from
the date of the statement.

The Finance Committee may require additional financial
statements or financial information as it deems appropriate or
necessary.

GD. Extension of Time to File. Upon request in advance and for
good cause shown, the Finance Committee may grant a ReANon-
FCM Member Firm and Independent_ner-Guaranteed—IB an
extension of the time for the filing of its annual or interim financial
statement.

All costs associated with the requirements of this Regulation shall be borne by the
Member Firm involved.


CASH GRAIN

2035.00. Reporting Cash Commodity Sales

2036.00. Disposition Orders: Form Of

2038.00. Pan Tickets

2039.00. Delivery And Payment To Invoices And Requests For Advances On
Truck/Rail Commodities

2040.00. Wheat Unfit For Human Consumption Not Deliverable On Futures
Contracts

MISCELLANEOUS

2050.00. Holidays

2051.00. Honorary Membership |

2053.00. Limitations On Options Transactions-Solicitation And Acceptance

2054.00. Board Of Arbitration: Fees

2054.01. Customer Claims Arbitration Panel: Fees

2055.00. Registration Of Floor Brokers/Floor Traders

2058.00. Collection Of Trading Documents

2059.00. Designation Of Open And Close On Trading Cards

2060.00. Official Closing Period: Futures

2061.00. Official Closing Period: Options

2062.00. Trading Cards: Form, Preparation And Maintenance

2062.01. Trading Records And Errors

2063.00. Time-Stamps

2064.00. Unmatched Trade Resolution

2065.00. Identification And Registration Of Broker Associations

2066.00. Market Maker Program

2067.00. Electronic And Open Outcry Trading

FINANCIAL REQUIREMENTS

2085.00. Financial And Reporting Requirements For All Members
2086.00. Minimum Financial Requirements For Futures Commission Merchants

And Guaranteed Introducing Brokers
2087.00. Minimum Financial Requirements For Non-Futures Commission Merchant

Member Firms And Nen-Guaranteed-Independent Introducing Brokers i
2088.00. Reduction Of Capital i
2089.00. Election Of Fiscal Year \
DELEGATED POWERS
2090.00. Physical Emergencies
2091.00. Inclement Weather Or Transportation Breakdown