**Exhibit      31.2**

**CERTIFICATION      PURSUANT TO**

**SECTION      302(a) OF THE SARBANES-OXLEY ACT OF 2002**

| 1. | I have reviewed this                    Annual Report                    on Form 10-K of the Claymore MACROshares Oil Down Holding                    Trust; |
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| 2. | Based on my knowledge,                      this report                      does not contain any untrue statement of a material fact or                      omit to state                      a material fact necessary to make the statements made, in light                      of the                      circumstances under which such statements were made, not misleading                      with                      respect to the period covered by this                      report; |
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| 3. | Based on my knowledge,                        the                        financial statements, and other financial information included                        in this                        report, fairly present in all material respects the financial                        condition,                        results of operations and cash flows of the registrant as                        of, and for, the                        periods presented in this                        report; |
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| 4. | The other certifying                          officer(s) and                          I are responsible for establishing and maintaining disclosure                          controls and                          procedures (as defined in Exchange Act Rules 13a-15(e)                          and 15d-15(e)) for                          the registrant and have: |
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|   | a. | Designed                such disclosure controls and procedures, or caused such disclosure                controls and procedures to be designed under our supervision, to                ensure                that material information relating to the registrant, including its                consolidated subsidiaries, is made known to us by others within those                entities, particularly during the period in which this report is                being                prepared; |
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|   | b. | Evaluated                the effectiveness of the registrant's disclosure controls and procedures                and presented in this report our conclusions about the effectiveness                of                the disclosure controls and procedures, as of the end of the period                covered by this report based on such evaluation;                and |
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|   | c. | Disclosed                in this report any change in the registrant's internal control over                financial reporting that occurred during the registrant's most recent                fiscal quarter (the registrant's fourth fiscal quarter in the case                of an                annual report) that has materially affected, or is reasonably likely                to                materially affect, the registrant's internal control over financial                reporting; and |
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| 5. | The other certifying                      officer(s) and                      I have disclosed, based on our most recent evaluation of internal                      control                      over financial reporting, to the registrant's auditors, the                      board of                      managers of Macro Securities Depositor, LLC, the audit committee                      of                      Claymore Securities, Inc., Claymore Securities, Inc.'s auditors                      and the                      audit committee of MacroMarkets LLC (or persons performing                      the equivalent                      functions): |
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|   | a. | All                significant deficiencies and material weaknesses in the design or                operation of internal control over financial reporting which are                reasonably likely to adversely affect the registrant's ability to                record,                process, summarize and report financial information;                and |
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|   | b. | Any                fraud, whether or not material, that involves persons who have a                significant role in the registrant's internal control over financial                reporting. |
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|   |                                                                         | /s/ Steven                    M.                    Hill |
|   | Steven                    M. Hill                                            |
|   | Chief Financial Officer,MACRO Securities Depositor,                      LLC |

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