Exhibit 4.5

AMENDMENT TO PARTICIPANT AGREEMENTS

THIS AMENDMENT TO
PARTICIPANT AGREEMENTS(this Amendment) is made as of the 15 day of January, 2011 by and between The Bank of New York Mellon, a New York banking corporation, not in its individual capacity but solely as trustee (the
Trustee) of the CurrencyShares Trusts set forth on Schedule A hereto (the Trusts) and Rydex Specialized Products LLC, a Delaware limited liability company d/b/a Rydex Investments (the
Sponsor) as sponsor of the Trusts.

W I T N E S S
E T H

WHEREAS, various authorized participants (the Authorized
Participants), the Trustee and the Sponsor are parties to those certain Participant Agreements set forth on Schedule B hereto, as the same may have previously been amended (collectively the Agreements and
individually, an Agreement); and

WHEREAS, the Trustee and the Sponsor desire to amend each of the
Agreements on the terms and conditions set forth below.

NOW, THEREFORE, in consideration of the terms and conditions
contained herein, and in accordance with Section 18(a) of each Agreement, each of the Agreements is hereby amended as follows:

1. Definitions. All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Agreements.

2. Amendments. Section 7 of each Agreement is hereby revised in its entirety to read as follows:

Section 7. Redemption.

The Authorized Participant represents and warrants that it will not obtain an Order Number (as described in the Procedures) from the Trustee for the purpose of redeeming a Basket unless it first
ascertains that (i) it or its customer, as the case may be, owns outright or has full legal authority and legal and beneficial right to tender for redemption the Baskets to be redeemed and to receive the entire proceeds of the redemption, and
(ii) such Baskets have not been loaned or pledged to another party, borrowed or temporarily obtained from another party and are not the subject of any repurchase agreement, reverse repurchase agreement or securities lending agreement, or any
other arrangement which would preclude the delivery of such Baskets to the Trustee on the third Business Day following the date of the Redemption Order.

3. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all such counterparts together shall constitute one and the same
instrument.



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4. Other. In the event of any conflict between the terms of this Amendment and the
terms of the Agreements, the terms of this Amendment shall control. All other terms and conditions of the Agreements shall remain in full force and effect.

[Signature Page Follows]



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IN WITNESS WHEREOF, the undersigned have signed and delivered this Amendment as of the date
first written above.



THE BANK OF NEW YORK MELLONnot in its individual capacity but solely as Trustee of the CurrencyShares Trusts set forth on Schedule ABy:/s/

Andrew PfeiferName:

Andrew PfeiferTitle:

Vice PresidentRYDEX SPECIALIZED PRODUCTS LLCSponsor of the CurrencyShares Trusts set forth on Schedule ABy:/s/

Joseph ArrudaName:

Joseph ArrudaTitle:

CFO




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SCHEDULE A

THE TRUSTS

CurrencyShares Australian Dollar Trust

CurrencyShares British Pound Sterling
Trust

CurrencyShares Canadian Dollar Trust

CurrencyShares Euro Trust

CurrencyShares Japanese Yen Trust

CurrencyShares Mexican Peso Trust

CurrencyShares Russian Ruble Trust

CurrencyShares Swedish Krona Trust

CurrencyShares Swiss Franc Trust



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SCHEDULE B

THE PARTICIPANT AGREEMENTS



|                                       |  |                                                                                                      |  |               
|-------------------------------------- |  | ---------------------------------------------------------------------------------------------------- |  | --------------
|Name of Trust                          |  | Name of Authorized Participant                                                                       |  | Agreement
Date
|                                       |  |                                                                                                     
|Currency Shares Australian Dollar      |  | ABN AMRO Clearing Chicago LLC ( FKA/Fortis Clearing Americas LLC/FKA/OConnor & Co. LLC)             |  | 10/30/2007    
|Currency Shares British Pound Sterling |  | ABN AMRO Clearing Chicago LLC ( FKA/Fortis Clearing Americas LLC/FKA/OConnor & Co. LLC)             |  | 11/3/2008     
|Currency Shares Canadian Dollars       |  | ABN AMRO Clearing Chicago LLC ( FKA/Fortis Clearing Americas LLC/FKA/OConnor & Co. LLC)             |  | 11/3/2008     
|Currency Shares Euro Trust             |  | ABN AMRO Clearing Chicago LLC ( FKA/Fortis Clearing Americas LLC/FKA/OConnor & Co. LLC)             |  | 4/16/2008     
|Currency Shares Swiss Franc            |  | ABN AMRO Clearing Chicago LLC ( FKA/Fortis Clearing Americas LLC/FKA/OConnor & Co. LLC)             |  | 10/30/2007    
|Currency Shares Mexican Peso           |  | ABN AMRO Clearing Chicago LLC ( FKA/Fortis Clearing Americas LLC/FKA/OConnor & Co. LLC)             |  | 11/3/2008     
|Currency Shares Japanese Yen           |  | ABN AMRO Clearing Chicago LLC ( FKA/Fortis Clearing Americas LLC/FKA/OConnor & Co. LLC)             |  | 4/21/2008     
|                                       |  |                                                                                                     
|Currency Shares Australian Dollar      |  | Citadel Securities LLC (formerly Citadel Derivatives Group, LLC and Citadel Trading Group, LLC #775) |  | 11/13/2008    
|Currency Shares British Pound Sterling |  | Citadel Securities LLC (formerly Citadel Derivatives Group, LLC and Citadel Trading Group, LLC #775) |  | 11/13/2008    
|Currency Shares Canadian Dollars       |  | Citadel Securities LLC (formerly Citadel Derivatives Group, LLC and Citadel Trading Group, LLC #775) |  | 11/13/2008    
|Currency Shares Euro Trust             |  | Citadel Securities LLC (formerly Citadel Derivatives Group, LLC and Citadel Trading Group, LLC #775) |  | 11/13/2008    
|Currency Shares Swiss Franc            |  | Citadel Securities LLC (formerly Citadel Derivatives Group, LLC and Citadel Trading Group, LLC #775) |  | 11/13/2008    
|Currency Shares Mexican Peso           |  | Citadel Securities LLC (formerly Citadel Derivatives Group, LLC and Citadel Trading Group, LLC #775) |  | 11/13/2008    
|Currency Shares Swedish Krona          |  | Citadel Securities LLC (formerly Citadel Derivatives Group, LLC and Citadel Trading Group, LLC #775) |  | 11/13/2008    
|Currency Shares Japanese Yen           |  | Citadel Securities LLC (formerly Citadel Derivatives Group, LLC and Citadel Trading Group, LLC #775) |  | 11/13/2008    
|                                       |  |                                                                                                     
|Currency Shares British Pound Sterling |  | Credit Suisse Securities (USA) LLC                                                                   |  | 1/19/2007     
|Currency Shares Canadian Dollars       |  | Credit Suisse Securities (USA) LLC                                                                   |  | 1/19/2007     
|Currency Shares Euro Trust             |  | Credit Suisse Securities (USA) LLC                                                                   |  | 1/19/2007     
|                                       |  |                                                                                                     
|Currency Shares Euro Trust             |  | Deutsche Bank Securities Inc.                                                                        |  | 3/12/2007     
|Currency Shares Japanese Yen           |  | Deutsche Bank Securities Inc.                                                                        |  | 3/12/2007     
|                                       |  |                                                                                                     
|Currency Shares Australian Dollar      |  | EWT, LLC                                                                                             |  | 7/14/2008     
|Currency Shares British Pound Sterling |  | EWT, LLC                                                                                             |  | 7/14/2008     
|Currency Shares Canadian Dollars       |  | EWT, LLC                                                                                             |  | 7/14/2008     



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SCHEDULE B

THE PARTICIPANT AGREEMENTS



|                                       |  |                                                                                                |  |               
|-------------------------------------- |  | ---------------------------------------------------------------------------------------------- |  | --------------
|Name of Trust                          |  | Name of Authorized Participant                                                                 |  | Agreement
Date
|                                       |  |                                                                                               
|Currency Shares Euro Trust             |  | EWT, LLC                                                                                       |  | 4/24/2008     
|Currency Shares Swiss Franc            |  | EWT, LLC                                                                                       |  | 7/14/2008     
|Currency Shares Mexican Peso           |  | EWT, LLC                                                                                       |  | 7/14/2008     
|Currency Shares Swedish Krona          |  | EWT, LLC                                                                                       |  | 7/14/2008     
|Currency Shares Japanese Yen           |  | EWT, LLC                                                                                       |  | 7/14/2008     
|                                       |  |                                                                                               
|Currency Shares Australian Dollar      |  | Goldman Sachs & Co.                                                                            |  | 6/22/2006     
|Currency Shares British Pound Sterling |  | Goldman Sachs & Co.                                                                            |  | 6/22/2006     
|Currency Shares Canadian Dollars       |  | Goldman Sachs & Co.                                                                            |  | 6/22/2006     
|Currency Shares Euro Trust             |  | Goldman Sachs & Co.                                                                            |  | 1/13/2006     
|Currency Shares Swiss Franc            |  | Goldman Sachs & Co.                                                                            |  | 6/22/2006     
|Currency Shares Mexican Peso           |  | Goldman Sachs & Co.                                                                            |  | 6/22/2006     
|Currency Shares Swedish Krona          |  | Goldman Sachs & Co.                                                                            |  | 6/22/2006     
|Currency Shares Japanese Yen           |  | Goldman Sachs & Co.                                                                            |  | 2/12/2007     
|Currency Shares Russian Ruble          |  | Goldman Sachs & Co.                                                                            |  | 8/7/2008      
|                                       |  |                                                                                               
|Currency Shares Australian Dollar      |  | Goldman Sachs Execution & Clearing LP                                                          |  | 10/24/2008    
|Currency Shares British Pound Sterling |  | Goldman Sachs Execution & Clearing LP                                                          |  | 6/19/2006     
|Currency Shares Canadian Dollars       |  | Goldman Sachs Execution & Clearing LP                                                          |  | 6/19/2006     
|Currency Shares Euro Trust             |  | Goldman Sachs Execution & Clearing LP                                                          |  | 5/5/2006      
|Currency Shares Swiss Franc            |  | Goldman Sachs Execution & Clearing LP                                                          |  | 10/24/2008    
|Currency Shares Mexican Peso           |  | Goldman Sachs Execution & Clearing LP                                                          |  | 2/15/2007     
|Currency Shares Swedish Krona          |  | Goldman Sachs Execution & Clearing LP                                                          |  | 1/29/2008     
|Currency Shares Japanese Yen           |  | Goldman Sachs Execution & Clearing LP                                                          |  | 2/9/2007      
|Currency Shares Russian Ruble          |  | Goldman Sachs Execution & Clearing LP                                                          |  | 2/27/2010     
|                                       |  |                                                                                               
|Currency Shares Australian Dollar      |  | JP Morgan Securities, Inc. 060 & 0352 (Agreement assigned to JPMS by Bear, Stearns & Co. Inc.) |  | 11/7/2007     
|Currency Shares British Pound Sterling |  | JP Morgan Securities, Inc. 060 & 0352 (Agreement assigned to JPMS by Bear, Stearns & Co. Inc.) |  | 12/12/2007    
|Currency Shares Canadian Dollars       |  | JP Morgan Securities, Inc. 060 & 0352 (Agreement assigned to JPMS by Bear, Stearns & Co. Inc.) |  | 12/12/2007    
|Currency Shares Euro Trust             |  | JP Morgan Securities, Inc. 060 & 0352 (Agreement assigned to JPMS by Bear, Stearns & Co. Inc.) |  | 2/11/2008     
|Currency Shares Swiss Franc            |  | JP Morgan Securities, Inc. 060 & 0352 (Agreement assigned to JPMS by Bear, Stearns & Co. Inc.) |  | 12/12/2007    
|Currency Shares Mexican Peso           |  | JP Morgan Securities, Inc. 060 & 0352 (Agreement assigned to JPMS by Bear, Stearns & Co. Inc.) |  | 12/12/2007    
|Currency Shares Swedish Krona          |  | JP Morgan Securities, Inc. 060 & 0352 (Agreement assigned to JPMS by Bear, Stearns & Co. Inc.) |  | 11/7/2007     
|Currency Shares Japanese Yen           |  | JP Morgan Securities, Inc. 060 & 0352 (Agreement assigned to JPMS by Bear, Stearns & Co. Inc.) |  | 5/11/2007     



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SCHEDULE B

THE PARTICIPANT AGREEMENTS



|                                       |  |                                          |  |               
|-------------------------------------- |  | ---------------------------------------- |  | --------------
|Name of Trust                          |  | Name of Authorized Participant           |  | Agreement
Date
|                                       |  |                                         
|Currency Shares Russian Ruble          |  | JP Morgan Securities, Inc.               |  | 8/16/2010     
|                                       |  |                                         
|Currency Shares Australian Dollar      |  | Knight Clearing Services, LLC            |  | 3/25/2010     
|Currency Shares British Pound Sterling |  | Knight Clearing Services, LLC            |  | 3/25/2010     
|Currency Shares Canadian Dollars       |  | Knight Clearing Services, LLC            |  | 3/25/2010     
|Currency Shares Euro Trust             |  | Knight Clearing Services, LLC            |  | 3/25/2010     
|Currency Shares Swiss Franc            |  | Knight Clearing Services, LLC            |  | 3/25/2010     
|Currency Shares Mexican Peso           |  | Knight Clearing Services, LLC            |  | 3/25/2010     
|Currency Shares Swedish Krona          |  | Knight Clearing Services, LLC            |  | 3/25/2010     
|Currency Shares Japanese Yen           |  | Knight Clearing Services, LLC            |  | 3/25/2010     
|Currency Shares Russian Ruble          |  | Knight Clearing Services, LLC            |  | 3/25/2010     
|                                       |  |                                         
|Currency Shares Australian Dollar      |  | Merrill Lynch Professional Clearing Corp |  | 6/26/2006     
|Currency Shares British Pound Sterling |  | Merrill Lynch Professional Clearing Corp |  | 6/26/2006     
|Currency Shares Canadian Dollars       |  | Merrill Lynch Professional Clearing Corp |  | 6/26/2006     
|Currency Shares Euro Trust             |  | Merrill Lynch Professional Clearing Corp |  | 5/9/2006      
|Currency Shares Swiss Franc            |  | Merrill Lynch Professional Clearing Corp |  | 6/26/2006     
|Currency Shares Mexican Peso           |  | Merrill Lynch Professional Clearing Corp |  | 6/26/2006     
|Currency Shares Swedish Krona          |  | Merrill Lynch Professional Clearing Corp |  | 6/26/2006     
|Currency Shares Japanese Yen           |  | Merrill Lynch Professional Clearing Corp |  | 5/5/2007      
|                                       |  |                                         
|Currency Shares Australian Dollar      |  | Morgan Stanley & Co. Inc.                |  | 8/26/2010     
|Currency Shares British Pound Sterling |  | Morgan Stanley & Co. Inc.                |  | 8/26/2010     
|Currency Shares Canadian Dollars       |  | Morgan Stanley & Co. Inc.                |  | 8/26/2010     
|Currency Shares Euro Trust             |  | Morgan Stanley & Co. Inc.                |  | 8/24/2010     
|Currency Shares Swiss Franc            |  | Morgan Stanley & Co. Inc.                |  | 8/26/2010     
|Currency Shares Mexican Peso           |  | Morgan Stanley & Co. Inc.                |  | 8/26/2010     
|Currency Shares Swedish Krona          |  | Morgan Stanley & Co. Inc.                |  | 8/26/2010     
|Currency Shares Japanese Yen           |  | Morgan Stanley & Co. Inc.                |  | 8/26/2010     
|                                       |  |                                         
|Currency Shares Australian Dollar      |  | Newedge USA, LLC                         |  | 8/26/2008     
|Currency Shares British Pound Sterling |  | Newedge USA, LLC                         |  | 8/26/2008     
|Currency Shares Canadian Dollars       |  | Newedge USA, LLC                         |  | 8/26/2008     
|Currency Shares Euro Trust             |  | Newedge USA, LLC                         |  | 5/22/2008     
|Currency Shares Swiss Franc            |  | Newedge USA, LLC                         |  | 8/26/2008     
|Currency Shares Mexican Peso           |  | Newedge USA, LLC                         |  | 8/26/2008     
|Currency Shares Swedish Krona          |  | Newedge USA, LLC                         |  | 8/26/2008     
|Currency Shares Japanese Yen           |  | Newedge USA, LLC                         |  | 8/26/2008     



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SCHEDULE B

THE PARTICIPANT AGREEMENTS



|                                       |  |                                      |  |               
|-------------------------------------- |  | ------------------------------------ |  | --------------
|Name of Trust                          |  | Name of Authorized Participant       |  | Agreement
Date
|                                       |  |                                     
|Currency Shares Australian Dollar      |  | Nomura Securities International Inc. |  | 6/14/2010     
|Currency Shares British Pound Sterling |  | Nomura Securities International Inc. |  | 6/14/2010     
|Currency Shares Canadian Dollars       |  | Nomura Securities International Inc. |  | 6/14/2010     
|Currency Shares Euro Trust             |  | Nomura Securities International Inc. |  | 6/14/2010     
|Currency Shares Swiss Franc            |  | Nomura Securities International Inc. |  | 6/14/2010     
|Currency Shares Mexican Peso           |  | Nomura Securities International Inc. |  | 6/14/2010     
|Currency Shares Swedish Krona          |  | Nomura Securities International Inc. |  | 6/14/2010     
|Currency Shares Japanese Yen           |  | Nomura Securities International Inc. |  | 6/14/2010     
|Currency Shares Russian Ruble          |  | Nomura Securities International Inc. |  | 6/14/2010     
|                                       |  |                                     
|Currency Shares Australian Dollar      |  | Timber Hill LLC                      |  | 5/21/2007     
|Currency Shares British Pound Sterling |  | Timber Hill LLC                      |  | 5/21/2007     
|Currency Shares Canadian Dollars       |  | Timber Hill LLC                      |  | 5/21/2007     
|Currency Shares Euro Trust             |  | Timber Hill LLC                      |  | 5/21/2007     
|Currency Shares Swiss Franc            |  | Timber Hill LLC                      |  | 5/21/2007     
|Currency Shares Mexican Peso           |  | Timber Hill LLC                      |  | 5/21/2007     
|Currency Shares Swedish Krona          |  | Timber Hill LLC                      |  | 5/21/2007     
|Currency Shares Japanese Yen           |  | Timber Hill LLC                      |  | 5/21/2007     
|                                       |  |                                     
|Currency Shares Australian Dollar      |  | Virtu Financial BD LLC               |  | 12/3/2010     
|Currency Shares British Pound Sterling |  | Virtu Financial BD LLC               |  | 12/3/2010     
|Currency Shares Canadian Dollars       |  | Virtu Financial BD LLC               |  | 12/3/2010     
|Currency Shares Euro Trust             |  | Virtu Financial BD LLC               |  | 12/3/2010     
|Currency Shares Swiss Franc            |  | Virtu Financial BD LLC               |  | 12/3/2010     
|Currency Shares Mexican Peso           |  | Virtu Financial BD LLC               |  | 12/3/2010     
|Currency Shares Swedish Krona          |  | Virtu Financial BD LLC               |  | 12/3/2010     
|Currency Shares Japanese Yen           |  | Virtu Financial BD LLC               |  | 12/3/2010     



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