Document:

Participant Agreement

 Exhibit 4.3 

CURRENCYSHARESSM SWISS FRANC TRUST 
 PARTICIPANT AGREEMENT 
 This Participant Agreement (this “Agreement”),
dated as of March 25, 2010, is entered into by and between Knight Clearing Services, LLC (with respect to this Agreement, the “Authorized Participant”, and with respect to the Trust Agreement referred to below, an
“Authorized Participant”), The Bank of New York, a New York banking corporation, not in its individual capacity but solely as trustee (the “Trustee”) of the CurrencyShares Swiss Franc Trust (the
“Trust”), and Rydex Specialized Products LLC, d/b/a Rydex Investments, as sponsor (the “Sponsor”) of the Trust. 
 SUMMARY 
 The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust
Agreement dated as of June 8, 2006, among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time of Swiss Franc Shares issued thereunder and all depositors (the “Trust Agreement”). As provided
in the Trust Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized
Participant in aggregations of fifty thousand (50,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the registration statement of the Trust on Form S-1, as amended (Registration No: 333-13264), as
declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust
in the form first filed with the SEC pursuant to Rule 424 (the “Prospectus”) adopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust Agreement, the Trustee is authorized to issue
Baskets to, and redeem Baskets from, Authorized Participants under the Trust Agreement, only through the facilities of The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Swiss
Francs that is transferred between such Authorized Participant and the Trust. Under the Trust Agreement, the Trustee issues Baskets in exchange for Swiss Francs which are transferred by an Authorized Participant to the London Branch of JPMorgan
Chase Bank, N.A. (the “Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for Swiss Francs, the Swiss Francs held in the Trust Account are transferred to the
Authorized Participant by the Depository. The foregoing Swiss Franc transfers are also governed by the Deposit Account Agreement the Trust has entered into with the Depository (the “Deposit Account Agreement”). This Agreement sets
forth the specific procedures by which an Authorized Participant may create or redeem Baskets. 
 Because new Shares can be created and issued
on an ongoing basis, at any point during the life of the Trust, a “distribution,” as such term is used in the 1933 Act, may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a
participant in a distribution in a manner that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution”
portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). 
 Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust Agreement. To the extent there is a conflict between any provision of this Agreement
and the provisions of the Trust Agreement, the provisions of the Trust Agreement shall control. 
 To give effect to the foregoing premises and
in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows: 
 Section 1. Order
Placement. To place orders for the Trustee to create or redeem one or more Baskets, Authorized Participants must follow the procedures for creation and redemption referred to in Section 3 of this Agreement and the procedures described in
Attachment A hereto (the “Procedures”), as each may be amended, modified or supplemented from time to time. 

 Section 2. Status, Representations and Warranties of the Parties. 

(a) The Authorized Participant represents and warrants and covenants the following on the date hereof and at each time of purchase by the
Authorized Participant of a Basket from the Trust (each such time, the “Time of Purchase”), that: 
 (i) The Authorized
Participant is a participant of DTC (as such a participant, a “DTC Participant”). If the Authorized Participant ceases to be a DTC Participant, the Authorized Participant shall give immediate notice to the Trustee of such event, and
this Agreement shall terminate immediately as of the date the Authorized Participant ceased to be a DTC Participant. 
 (ii)
Unless Section 2(a)(iii) applies, the Authorized Participant either (A) is registered as a broker-dealer under the Securities Exchange Act of 1934, as amended (“1934 Act”), and is a member in good standing of the National
Association of Securities Dealers, Inc. (the “NASD”), or (B) is exempt from being, or otherwise is not required to be, licensed as a broker-dealer or a member of the NASD, and in either case is qualified to act as a broker or
dealer in the states or other jurisdictions where the nature of its business so requires. In connection with the purchase or redemption of Baskets and any related offers or sales of Shares, the Authorized Participant will maintain any such
registrations, qualifications and membership in good standing and in full force and effect throughout the term of this Agreement. The Authorized Participant will comply with all applicable federal laws, the laws of the states or other jurisdictions
concerned, and the rules and regulations promulgated thereunder, and with the Constitution, By-Laws and Conduct Rules of the NASD (if it is a NASD member), and will not offer or sell Shares in any state or jurisdiction where they may not lawfully be
offered and/or sold. 
 (iii) If the Authorized Participant is offering or selling Shares in jurisdictions outside the several
states, territories and possessions of the United States and is not otherwise required to be registered, qualified or a member of the NASD as set forth in Section 2(a)(ii) above, the Authorized Participant will, in connection with such offers
and sales, (A) observe the applicable laws of the jurisdiction in which such offer and/or sale is made, (B) comply with the prospectus delivery and other requirements of the 1933 Act, and the regulations promulgated thereunder, and
(C) conduct its business in accordance with the NASD Conduct Rules. 
 (iv) The Authorized Participant is in compliance with
the money laundering and related provisions of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, and the regulations promulgated thereunder, if the Authorized
Participant is subject to the requirements of the USA PATRIOT Act. 
 (v) The Authorized Participant has the capability to send
and receive communications via authenticated telecommunication facility to and from the Trustee. The Authorized Participant shall confirm such capability to the satisfaction of the Trustee by the end of the Business Day before placing its first
order with the Trustee (whether such order is to create or to redeem Baskets). 

 (b) The Sponsor represents and warrants that: 

(i) on the effective date of the Registration Statement and at each Time of Purchase, the Trust’s Registration Statement shall be
effective and no stop order of the SEC with respect thereto shall have been issued and no proceedings for such purpose shall have been instituted or, to the Sponsor’s knowledge, will then be contemplated by the SEC; the Registration Statement
complies in all material respects with the requirements of the 1933 Act, and the Prospectus complied as of its date, and complies at the Time of Purchase, in all material respects with the requirements of the 1933 Act; and the conditions to the use
of Form S-1 have been satisfied; the Registration Statement does not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, the
Prospectus will not, as of its date and at the Time of Purchase, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading and, as of              a.m./p.m. on the date of this Agreement (the “Time of Sale”), the documents
comprising the Disclosure Package (as defined below) did not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided, however, that the Sponsor makes no warranty or representation with respect to any statement contained in the Registration Statement, the Prospectus or the Disclosure Package in
reliance upon and in conformity with information concerning the Authorized Participant and furnished in writing by or on behalf of the Authorized Participant to the Sponsor expressly for use therein. The “Disclosure Package” is the
Prospectus and any amendments and supplements thereto at the Time of Sale and any free writing prospectus as defined in Rule 405 of the 1933 Act (a “FWP”) prepared by, for or on behalf of the Sponsor before the Time of Sale and
intended for general distribution; 
 (ii) the Shares, when issued and delivered against payment of consideration therefor, as
provided in this Agreement, will be duly and validly authorized, issued, fully paid and non-assessable and free of statutory and contractual preemptive rights, rights of first refusal and similar rights; 

(iii) the Sponsor has been duly organized and, on the effective date of the Registration Statement and at each Time of Purchase, will be
validly existing as a limited liability company in good standing under the laws of the State of Delaware, with full power and authority to act as the sponsor of the Trust as described in the Registration Statement and the Prospectus, and has all
requisite power and authority to execute and deliver this Agreement; and 
 (iv) at the time the Sponsor makes an offer of Shares
following the filing of the Registration Statement, neither the Trust nor the Sponsor will be an “ineligible issuer” as defined in Rule 405 of the 1933 Act. 
 Section 3. Orders. 
 (a) All orders to create or redeem Baskets shall
be made in accordance with the terms of the Trust Agreement, the Deposit Account Agreement, this Agreement and the Procedures. Each 

 
party will comply with such foregoing terms and procedures to the extent applicable to it. The Authorized Participant hereby consents to the use of recorded telephone lines whether or not such
use is reflected in the Procedures. The Trustee and Sponsor may issue additional or other procedures from time to time relating to the manner of creating or redeeming Baskets which are not related to the Procedures, and the Authorized Participant
will comply with such procedures of which it has received notice in accordance with Section 18(c). 
 (b) The Authorized
Participant acknowledges and agrees that each order to create a Basket (a “Purchase Order”) and each order to redeem a Basket (a “Redemption Order”, and each Purchase Order and Redemption Order, an
“Order”) may not be revoked by the Authorized Participant upon its delivery to the Trustee. A form of Purchase Order is attached hereto as Exhibit B and a form of Redemption Order is attached hereto as Exhibit C. 

(c) The delivery of the Shares against deposits of Swiss Francs may be suspended generally, or refused with respect to particular
requested deliveries, during any period when the transfer books of the Trustee are closed or if any such action is deemed necessary or advisable by the Trustee or the Sponsor for any reason at any time or from time to time. Except as otherwise
provided in the Trust Agreement, the surrender of Shares for purposes of withdrawing Swiss Francs may not be suspended. 
 Section 4.
Swiss Francs Transfers. Any Swiss Francs to be transferred in connection with any Order shall be transferred between the Authorized Participant’s account and the Trust’s deposit accounts established for such transfers pursuant to the
Deposit Account Agreement (the “Deposit Accounts”) in accordance with the Procedures. The Authorized Participant shall be responsible for all costs and expenses relating to or connected with any transfer of Swiss Francs between its
account and the Deposit Accounts, including any late fees and other charges, if any, for which the Trustee becomes responsible in the event that Swiss Francs are not transferred from the Authorized Participant’s account in accordance with the
Procedures. 
 Section 5. Fees. In connection with each Order by an Authorized Participant to create or redeem one or more Baskets,
the Trustee shall charge, and the Authorized Participant shall pay to the Trustee, the transaction fee prescribed in the Trust Agreement applicable to such creation or redemption. The initial transaction fee shall be five hundred dollars ($500). The
transaction fee may be waived or otherwise adjusted from time to time as set forth in the Prospectus. 
 Section 6. Authorized
Persons. Concurrently with the execution of this Agreement and from time to time thereafter, the Authorized Participant shall deliver to the Trustee notarized and duly certified as appropriate by its secretary or other duly authorized official,
a certificate in the form of Exhibit A setting forth the names and signatures of all persons authorized to give instructions relating to activity contemplated hereby or by any other notice, request or instruction given on behalf of the Authorized
Participant (each, an “Authorized Person”). The Trustee may accept and rely upon such certificate as conclusive evidence of the facts set forth therein and shall consider such certificate to be in full force and effect until the
Trustee receives a superseding certificate bearing a subsequent date. Upon the termination or revocation of authority of any Authorized Person by the Authorized Participant, the Authorized Participant shall give immediate written notice of such fact
to the Trustee and such notice shall be effective upon receipt by the Trustee. The Trustee shall issue to each Authorized Person a unique personal identification number (the “PIN”) by which such Authorized Person shall be identified
and by which instructions issued by the Authorized Participant hereunder shall be authenticated. The PIN shall be kept confidential by the Authorized Participant and shall only be provided to the Authorized Person. If, after issuance, the Authorized
Person’s PIN is changed, the new PIN shall become effective on a date mutually agreed upon by the Authorized Participant and the Trustee. 

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 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 and are not the subject of a repurchase agreement, 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. 

 Section 8. Role of Authorized Participant. 

(a) The Authorized Participant acknowledges that, for all purposes of this Agreement and the Trust Agreement, the Authorized Participant
is and shall be deemed to be an independent contractor and has and shall have no authority to act as agent for the Trust, the Sponsor, the Trustee or the Depository, in any matter or in any respect. 

(b) The Authorized Participant will make itself and its employees available, upon request, during normal business hours to consult with
the Trustee, the Depository or their designees concerning the performance of the Authorized Participant’s responsibilities under this Agreement. 
 (c) The Authorized Participant will maintain records of all sales of Shares made by or through it as required by law and will furnish copies of such records to the Sponsor upon the reasonable request of
the Sponsor, subject to any privacy or confidentiality obligations it may have to its customers arising under federal or state securities laws or the applicable rules of any self regulatory organization. The Sponsor will not use any information
provided by the Authorized Participant pursuant to this paragraph or disclose such information to others except in connection with the performance of its duties and responsibilities hereunder, including making servicing and informational mailings
related to the Trust, or except as may be required by applicable law. 
 Section 9. Indemnification. 

(a) The Authorized Participant hereby indemnifies and holds harmless the Trustee, the Depository, the Trust, the Sponsor, their respective
direct or indirect affiliates (as defined below) and their respective directors, officers, employees and agents (each, an “AP Indemnified Party”) from and against any losses, liabilities, damages, costs and expenses (including
attorney’s fees and the reasonable cost of investigation) incurred by such AP Indemnified Party as a result of or in connection with: (i) any breach by the Authorized Participant of any provision of this Agreement, including any of its
representations, warranties or covenants; (ii) any failure on the part of the Authorized Participant to perform any of its other obligations set forth in this Agreement; (iii) any failure by the Authorized Participant to comply with
applicable laws and the rules and regulations of any governmental entity or any self-regulatory organization; (iv) any actions of such AP Indemnified Party in reliance upon any instructions issued in accordance with the Procedures reasonably
believed by the AP Indemnified Party to be genuine and to have been given by the Authorized Participant; or (v) (A) any representation by the Authorized Participant, its employees or its agents or other representatives about the Shares,
any AP Indemnified Party or the Trust that is not consistent with the Trust’s Prospectus as then-supplemented made in connection with the offer or the solicitation of an offer to buy or sell Shares and (B) any untrue statement or alleged
untrue statement of a material fact (1) contained in any research report, marketing material or sales literature described in Section 13(b) or in any FWP prepared by the Authorized Participant or (2) furnished by the Authorized
Participant for use in a FWP prepared by, for or on behalf of the Sponsor, or any alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading to the extent that
such statement or omission relates to the Shares, any AP Indemnified Party or the Trust, unless, in either case, such representation, statement or omission was made or included by the Authorized Participant at the written direction of the Sponsor or
is based upon any omission or alleged omission by the Sponsor to state a material fact in connection with such representation, statement or omission necessary in order to make such representation, statement or omission not misleading. 

(b) The Sponsor hereby agrees to indemnify and hold harmless the Authorized Participant, its respective subsidiaries, affiliates,
directors, officers, employees and agents, and each person, if any, who controls such persons within the meaning of Section 15 of the 1933 Act (each, a “Sponsor Indemnified Party”) from and against any losses, liabilities,
damages, costs and expenses 

 
(including attorneys’ fees and the reasonable cost of investigation) incurred by such Sponsor Indemnified Party as a result of (i) any breach by the Sponsor of any provision of this
Agreement that relates to the Sponsor, including its representations, warranties and covenants; (ii) any failure on the part of the Sponsor to perform any other obligation of the Sponsor set forth in this Agreement; (iii) any failure by
the Sponsor to comply with applicable laws; or (iv) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or in any amendment thereof, or in the Prospectus, or in any amendment thereof or
supplement thereto, or in the Disclosure Package, or in any FWP prepared by, for or on behalf of the Sponsor, or arising out of or based upon the omission or alleged omission to state therein a material fact required to be stated therein or
necessary in order to make the statements therein not misleading, except those statements based on information furnished in writing by or on behalf of the Authorized Participant expressly for use in the Registration Statement, amendment thereof,
Prospectus, amendment thereof or supplement thereto, Disclosure Package, or FWP. 
 (c) (i) This Section 9 shall not
apply to any AP Indemnified Party or any Sponsor Indemnified Party (each, an “Indemnified Party”) to the extent any such losses, liabilities, damages, costs and expenses are incurred as a result of, or in connection with, any action
or failure to act that constitutes gross negligence, bad faith or willful misconduct on the part of the such Indemnified Party. (ii) The term “affiliate” in this Section 9 shall include, with respect to any person, entity or
organization, any other person, entity or organization which directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such person, entity or organization. 

(d) If the indemnification provided for in this Section 9 is unavailable to an indemnified party under Sections 9(a) or 9(b) or
insufficient to hold an indemnified party harmless in respect of any losses, liabilities, damages, costs and expenses referred to therein, then each applicable indemnifying party shall contribute to the amount paid or payable by such indemnified
party as a result of such losses, liabilities, damages, costs and expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Sponsor and the Trust, on the one hand, and by the Authorized Participant, on
the other hand, from the services provided hereunder or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in
clause (i) above but also the relative fault of the Sponsor and the Trust, on the one hand, and of the Authorized Participant, on the other hand, in connection with, to the extent applicable, the statements or omissions which resulted in such
losses, liabilities, damages, costs and expenses, as well as any other relevant equitable considerations. The relative benefits received by the Sponsor and the Trust, on the one hand, and the Authorized Participant, on the other hand, shall be
deemed to be in the same respective proportions as the amount of Swiss Francs transferred to the Trust under this Agreement on the one hand (expressed in dollars) bears to the amount of economic benefit received by the Authorized Participant in
connection with this Agreement on the other hand. To the extent applicable, the relative fault of the Sponsor on the one hand and of the Authorized Participant on the other shall be determined by reference to, among other things, whether the untrue
statement or alleged untrue statement of a material fact or omission or alleged omission relates to information supplied by the Sponsor or by the Authorized Participant and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The amount paid or payable by a party as a result of the losses, liabilities, damages, costs and expenses referred to in this Section 9(d) shall be deemed to include any legal or
other fees or expenses reasonably incurred by such party in connection with investigating, preparing to defend or defending any action, suit or proceeding (each a “Proceeding”) related to such losses, liabilities, damages, costs and
expenses. 
 (e) The Sponsor and the Authorized Participant agree that it would not be just and equitable if contribution
pursuant to this Section 9 were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d) above. The Authorized Participant shall not be
required to contribute any amount in excess of the amount by which the total price at which the Shares created by the Authorized 

 
Participant and distributed to the public were offered to the public exceeds the amount of any damage which the Authorized Participant has otherwise been required to pay by reason of such untrue
statement or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from any person who was not guilty
of such fraudulent misrepresentation. 
 (f) The indemnity and contribution agreements contained in this Section 9 shall
remain in full force and effect regardless of any investigation made by or on behalf of the Authorized Participant, its partners, stockholders, members, directors, officers, employees and or any person (including each partner, stockholder, member,
director, officer or employee of such person) who controls the Authorized Participant within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, or by or on behalf of the Sponsor, its partners, stockholders, members,
directors, officers, employees or any person who controls the Sponsor within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, and shall survive any termination of this Agreement. The Sponsor and the Authorized
Participant agree promptly to notify each other of the commencement of any Proceeding against it and, in the case of the Sponsor, against any of the Sponsor’s officers or directors, in connection with the issuance and sale of the Shares or in
connection with the Registration Statement or the Prospectus. 
 Section 10. Liability. 

(a) Limitation of Liability. None of the Sponsor, the Trustee, the Authorized Participant, and the Depository shall be liable to each
other or to any other person, including any party claiming by, through or on behalf of the Authorized Participant, for any losses, liabilities, damages, costs or expenses arising out of any mistake or error in data or other information provided to
any of them by each other or any other person or out of any interruption or delay in the electronic means of communications used by them. 
 (b) Tax Liability. The Authorized Participant shall be responsible for the payment of any transfer tax, sales or use tax, stamp tax, recording tax, value added tax and any other similar tax or government
charge applicable to the creation or redemption of any Basket made pursuant to this Agreement, regardless of whether or not such tax or charge is imposed directly on the Authorized Participant. To the extent the Trustee, the Sponsor or the Trust is
required by law to pay any such tax or charge, the Authorized Participant agrees to promptly indemnify such party for any such payment, together with any applicable penalties, additions to tax or interest thereon. 

Section 11. Acknowledgment. The Authorized Participant acknowledges receipt of a (i) copy of the Trust Agreement and (ii) the
current Prospectus of the Trust, and represents that it has reviewed and understands such documents. 
 Section 12. Effectiveness and
Termination. Upon the execution of this Agreement by the parties hereto, this Agreement shall become effective in this form as of the Time of Sale, and may be terminated at any time by any party upon thirty (30) days prior written notice to
the other parties unless earlier terminated: (i) in accordance with Section 2(a)(i); (ii) upon notice to the Authorized Participant by the Trustee in the event of a breach by the Authorized Participant of this Agreement or the
procedures described or incorporated herein; (iii) immediately in the circumstances described in Section 18(j); or (iv) at such time as the Trust is terminated pursuant to the Trust Agreement. 

Section 13. Marketing Materials; Representations Regarding Shares; Identification in Registration Statement. 

(a) The Authorized Participant represents, warrants and covenants that (i), without the written consent of the Sponsor, the Authorized
Participant will not (A) make, or permit any of its representatives to make, any representations concerning the Shares or any AP Indemnified Party other than representations contained (1) in the Prospectus of the Trust, as then amended and
supplemented, (2) in printed information approved by the Sponsor as information supplemental to 

 
such Prospectus or (3) in any promotional materials or sales literature furnished to the Authorized Participant by the Sponsor, or (B) issue any FWP pursuant to Rules 164 and 433 of the
1933 Act and (ii) the Authorized Participant will not furnish or cause to be furnished to any person or display or publish any information or material relating to the Shares, any AP Indemnified Person or the Trust that are not consistent with
the Prospectus, as then amended and supplemented. Copies of the Prospectus of the Trust, as then amended and supplemented, and any such printed supplemental information will be supplied by the Sponsor to the Authorized Participant in reasonable
quantities upon request. 
 (b) Notwithstanding the foregoing, the Authorized Participant may without the written approval of the
Sponsor prepare and circulate in the regular course of its business research reports, marketing material and sales literature, but in no event FWPs, that include information, opinions or recommendations relating to the Shares (i) for public
dissemination, provided that such research reports, marketing material or sales literature is prepared in accordance with applicable rules and regulations of the 1933 Act, any applicable state securities laws and NASD rules; or (ii) for
internal use by the Authorized Participant. The Authorized Participant will file all such research reports, marketing material and sales literature related to the Shares with the NASD to the extent required by the NASD Conduct Rules. 

(c) The Authorized Participant and its affiliates may prepare and circulate in the regular course of their businesses, without having to
refer to the Shares or the Prospectus, as then amended and supplemented, data and information relating to the price of Swiss Francs. 
 (d) The Authorized Participant hereby agrees that for the term of this Agreement the Sponsor may deliver the Prospectus, and any supplements or amendments thereto or recirculation thereof, to the
Authorized Participant in Portable Document Format (“PDF”) via electronic mail in lieu of delivering the Prospectus in paper form. The Authorized Participant may revoke the foregoing agreement at any time by delivering written
notice to the Sponsor and, whether or not such agreement is in effect, the Authorized Participant may, at any time, request reasonable quantities of the Prospectus, and any supplements or amendments thereto or recirculation thereof, in paper form
from the Sponsor. The Authorized Participant acknowledges that it has the capability to access, view, save and print material provided to it in PDF and that it will incur no appreciable extra costs by receiving the Prospectus in PDF instead of in
paper form. The Sponsor will, when requested by the Authorized Participant, make available at no cost the software and technical assistance necessary to allow the Authorized Participant to access, view and print the PDF version of the Prospectus.

 (e) For as long as this Agreement is effective, the Authorized Participant agrees to be identified as an authorized
participant of the Trust (i) in the section of the Prospectus included within the Registration Statement entitled “Creation and Redemption of Shares” (including identifying the Authorized Participant in such section by a supplement to
the Prospectus) and in any other section as may be required by the SEC and (ii) on the Trust’s website. Upon the termination of this Agreement, (i) during the period prior to when the Sponsor qualifies and elects to file on Form S-3,
the Sponsor will remove such identification from the Prospectus in the amendment of the Registration Statement next occurring after the date of the termination of this Agreement and, during the period after when the Sponsor qualifies and elects to
file on Form S-3, the Sponsor will promptly file a current report on Form 8-K indicating the withdrawal of the Authorized Participant as an authorized participant of the Trust and (ii) the Sponsor will promptly update the Trust’s website
to remove any identification of the Authorized Participant as an authorized participant of the Trust. 
 Section 14. Title To Swiss
Francs. The Authorized Participant represents and warrants that upon delivery of the Basket Swiss Franc Amount (as defined in the Trust Agreement) to the Trustee in accordance with the terms of the Trust Agreement and this Agreement, the Trust
will acquire good and unencumbered title to the Swiss Francs which are the subject of such Basket Swiss Franc Amount, free and clear of all pledges, security interests, liens, charges, taxes, assessments, encumbrances, equities, claims, options or
limitations 

 
of any kind or nature, fixed or contingent, and not subject to any adverse claims, including any restriction upon the sale or transfer of all or any part of such Swiss Francs which is imposed by
any agreement or arrangement entered into by the Authorized Participant or any party for which it is acting in connection with a Purchase Order. 
 Section 15. Third Party Beneficiaries. Each AP Indemnified Party, to the extent it is not a party to this Agreement, is a third-party beneficiary of this Agreement (each, a “Third
Party Beneficiary”) and may proceed directly against the Authorized Participant (including by bringing proceedings against the Authorized Participant in its own name) to enforce any obligation of the Authorized Participant under this
Agreement which directly or indirectly benefits such Third Party Beneficiary. 
 Section 16. Force Majeure. No party to this
Agreement shall incur any liability for any delay in performance, or for the non-performance, of any of its obligations under this Agreement by reason of any act of God or war or terrorism, acts and regulations and rules of any governmental or supra
national bodies or authorities or regulatory or self-regulatory organization or failure of any such body, authority or organization for any reason, to perform its obligations, or any cause beyond its reasonable control, including, without
limitation, any breakdown, malfunction or failure of transmission in connection with or other unavailability of any wire, communication or computer facilities, any transport, port or airport disruption, or any industrial action. 

Section 17. Ambiguous Instructions. If a Purchase Order Form or a Redemption Order Form otherwise in good form contains order terms that
differ from the information provided in the telephone call at the time of issuance of the applicable order number, the Trustee will attempt to contact one of the Authorized Persons of the Authorized Participant to request confirmation of the terms
of the Order. If an Authorized Person confirms the terms as they appear in the Order, then the Order will be accepted and processed. If an Authorized Person contradicts the Order terms, the Order will be deemed invalid, and a corrected Order must be
received by the Trustee. If the Trustee is not able to contact an Authorized Person, then the Order shall be accepted and processed in accordance with its terms notwithstanding any inconsistency from the terms of the telephone information. In the
event that an Order contains terms that are not complete or are illegible, the Order will be deemed invalid and the Trustee will attempt to contact one of the Authorized Persons of the Authorized Participant to request retransmission of the Order.

 Section 18. Miscellaneous. 
 (a) Amendment and Modification. This Agreement, the Procedures attached as Attachment A and the Exhibits hereto may be amended, modified or supplemented by the Trustee and the Sponsor, without consent of
any Authorized Participant from time to time by the following procedure. After the amendment, modification or supplement has been agreed to, the Trustee will mail a copy of the proposed amendment, modification or supplement to the Authorized
Participant. For the purposes of this Agreement, mail will be deemed received by the recipient thereof on the third (3rd) day following the deposit of such mail into the United States postal system. Within ten (10) calendar days after its
deemed receipt, the amendment, modification or supplement will become part of this Agreement, the Attachments or the Exhibits, as the case may be, in accordance with its terms. If at any time there is any material amendment, modification or
supplement of any Participant Agreement (other than this Agreement), the Trustee will promptly mail a copy of such amendment, modification or supplement to the Authorized Participant. 

(b) Waiver of Compliance. Any failure of any of the parties to comply with any obligation, covenant, agreement or condition herein may be
waived by the party entitled to the benefits thereof only by a written instrument signed by the party granting such waiver, but any such written waiver, or the failure to insist upon strict compliance with any obligation, covenant, agreement or
condition herein, shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. 
 (c) Notices.
Except as otherwise specifically provided in this Agreement, all notices required or permitted to be given pursuant to this Agreement shall be given in writing and delivered by 

 
personal delivery, by postage prepaid registered or certified United States first class mail, return receipt requested, by nationally recognized overnight courier (delivery confirmation received)
or by telex, telegram or telephonic facsimile or similar means of same day delivery (transmission confirmation received), with a confirming copy regular mailed, postage prepaid. For avoidance of doubt, notices may not be given or transmitted by
electronic mail. Unless otherwise notified in writing, all notices to the Trust shall be given or sent to the Trustee. All notices shall be directed to the address or telephone or facsimile numbers indicated below the signature line of the parties
on the signature page hereof. 
 (d) Successors and Assigns. This Agreement and all of the provisions hereof shall be binding
upon and inure to the benefit of the parties and their respective successors and permitted assigns. 
 (e) Assignment. Neither
this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any party without the prior written consent of the other parties, except that any entity into which a party hereto may be merged or converted or with which
it may be consolidated or any entity resulting from any merger, conversion, or consolidation to which such party hereunder shall be a party, or any entity succeeding to all or substantially all of the business of the party, shall be the successor of
the party under this Agreement. The party resulting from any such merger, conversion, consolidation or succession shall notify the other parties hereto of the change. Any purported assignment in violation of the provisions hereof shall be null and
void. Notwithstanding the foregoing, this Agreement shall be automatically assigned to any successor Trustee or Sponsor at such time such successor qualifies as a successor Trustee or Sponsor under the terms of the Trust Agreement. 

(f) Governing Law; Consent to Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of
New York (regardless of the laws that might otherwise govern under applicable New York conflict of laws principles) as to all matters, including matters of validity, construction, effect, performance and remedies. Each party hereto irrevocably
consents to the jurisdiction of the courts of the State of New York and of any federal court located in the Borough of Manhattan in such State in connection with any action, suit or other proceeding arising out of or relating to this Agreement or
any action taken or omitted hereunder, and waives any claim of forum non convenient and any objections as to laying of venue. Each party further waives personal service of any summons, complaint or other process and agrees that service thereof may
be made by certified or registered mail directed to such party at such party’s address for purposes of notices hereunder. Each party hereby waives its right to a trial by jury of any claim arising under or in connection with this Agreement.

 (g) Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original
copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement, and it shall not be necessary in making proof of this Agreement as to any party hereto to produce or account for more than one
such counterpart executed and delivered by such party. 
 (h) Interpretation. The article and section headings contained in this
Agreement are solely for the purpose of reference, are not part of the agreement of the parties and shall not in any way affect the meaning or interpretation of this Agreement. 
 (i) Entire Agreement. This Agreement and the Trust Agreement, along with any other agreement or instrument delivered pursuant to this Agreement and the Trust Agreement, supersede all prior agreements and
understandings between the parties with respect to the subject matter hereof, provided, however, that the Authorized Participant shall not be deemed by this provision to be a party to the Trust Agreement. 

(j) Severance. If any provision of this Agreement is held by any court or any act, regulation, rule or decision of any other governmental
or supra national body or authority or regulatory or self-regulatory organization to be invalid, illegal or unenforceable for any reason, it shall be invalid, 

 
illegal or unenforceable only to the extent so held and shall not affect the validity, legality or enforceability of the other provisions of this Agreement and this Agreement will be construed as
if such invalid, illegal, or unenforceable provision had never been contained herein, unless the Sponsor determines in its discretion, after consulting with the Trustee, that the provision of this Agreement that was held invalid, illegal or
unenforceable does affect the validity, legality or enforceability of one or more other provisions of this Agreement, and that this Agreement should not be continued without the provision that was held invalid, illegal or unenforceable, and in that
case, upon the Sponsor’s notification of the Trustee of such a determination, this Agreement shall immediately terminate and the Trustee will so notify the Authorized Participant immediately. 

(k) No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express their
mutual intent, and no rule of strict construction will be applied against any party. 
 (l) Survival. Sections 9
(Indemnification) and 15 (Third Party Beneficiaries) hereof shall survive the termination of this Agreement. 
 (m) Other Usages.
The following usages shall apply in interpreting this Agreement: (i) references to a governmental or quasigovernmental agency, authority or instrumentality shall also refer to a regulatory body that succeeds to the functions of such agency,
authority or instrumentality; and (ii) “including” means “including, but not limited to.” 
 * * * * * *
* 

 IN WITNESS WHEREOF, the Authorized Participant, the Sponsor and the Trustee, on behalf of the Trust, have
caused this Agreement to be executed by their duly authorized representatives as of the date first set forth above. 
  

													
	 THE BANK OF NEW YORK,
 not in its individual capacity,
 but solely as Trustee of the CurrencyShares Swiss Franc
Trust
	 	 KNIGHT CLEARING SERVICES, LLC

					
	By:	 	 /s/ Andrew Pfeifer
	 		 	By:        	 	 /s/ Christopher Pento

		 	        Name:	 		 		 		 	Name:	 	Christopher Pento
		 	        Title  Vice President	 		 		 	Title	 	President

  

									
	Address:	 	         One Wall Street
         New York, NY 10286
	 		 	 Address: 545 Washington Blvd., 2nd Fl.
  Jersey City, NJ 07310

	Telephone:	 	        (212) 635-6314	 		 	Telephone:	 	        201-356-4232
					
	Facsimile:	 		 		 	Facsimile:	 	        201-356-4297

  

					
	RYDEX SPECIALIZED PRODUCTS LLC,
	Sponsor of the CurrencyShares Swiss Franc Trust
		
	 /s/ Nick Bonos
	 	
	Name:	 	Nick Bonos
	Title:	 	CEO

  

					
	Address:	 	9601 Blackwell Rd., Ste 500
		 	Rockville, MD 20850

  

					
	Telephone:	 	301-296-5125

  

					
	Facsimile:	 	301-296-5104

 

 

 Exhibit A 

CURRENCYSHARESSM SWISS FRANC TRUST 
 FORM OF CERTIFIED AUTHORIZED PERSONS OF AUTHORIZED PARTICIPANT 
 The following are the names,
titles and signatures of all persons (each an “Authorized Person”) authorized to give instructions relating to any activity contemplated by the Participant Agreement or any other notice, request or instruction on behalf of the
Authorized Participant pursuant to the CurrencyShares Swiss Franc Trust Participant Agreement. 
 Authorized Participant:  Knight
Clearing Services LLC. 
  

									
	Name:	 	Stacey Boss	 		 	Name:	 	Robert Moseman III
	Title:	 	Authorized Person	 		 	Title:	 	Authorized Person

  

									
	Signature:	 	 /s/ Stacey Boss
	 		 	Signature:	 	 /s/ Robert Moseman III

 

									
	Name:	 	Eric Malpica	 		 	Name:	 	Sean Siri
	Title:	 	Authorized Person	 		 	Title:	 	Authorized Person

  

									
	Signature:	 	 /s/ Eric Malpica
	 		 	Signature:	 	 /s/ Sean Siri

 

									
	Name:	 	Erma McClain	 		 	Name:	 	Wayne Solano
	Title:	 	Authorized Person	 		 	Title:	 	Authorized Person

  

									
	Signature:	 	 /s/ Erma McClain
	 		 	Signature:	 	 /s/ Wayne Solano

 The undersigned, Andrew M. Greenstein, Managing Director, Deputy General Counsel and Secretary of Knight Clearing Services LLC does hereby certify that the persons listed above have been duly elected to
the offices set forth beneath their names, that they presently hold such offices, that they have been duly authorized to act as Authorized Persons pursuant to the CurrencyShares Swiss Franc Trust Participant Agreement by and between Knight Clearing
Services LLC and the Trustee and the Sponsor of the CurrencyShares Swiss Franc Trust, dated March 25, 2010, and that their signatures set forth above are their own true and genuine signatures. 

In Witness Whereof, the undersigned has hereby set his hand and the seal of Knight Clearing Services LLC on the date set forth below. 

 

							
		 		 	Knight Clearing Services LLC
				
		 		 	By:	 	 /s/ Andrew M. Greenstein

		 		 	Name:	 	Andrew M. Greenstein
		 		 	Title:	 	Managing Director, Deputy General
	Subscribed and sworn to before me	 		 	Counsel & Secretary
	This 15th day of April, 2010	 		 	Date:	 	4/15/2010
				
	 /s/ Maria Corona S. Bugarin
	 		 		 	
	Maria Corona S. Bugarin	 		 		 	
	Notary Public of New Jersey	 		 		 	
	My Comm. Expires Sept. 26, 2013	 		 		 	

 EXHIBIT B 

CURRENCYSHARESSM SWISS FRANC TRUST 
 PURCHASE ORDER FORM 
 THE BANK OF NEW YORK, TRUSTEE 

 
  
 CONTACT INFORMATION FOR ORDER EXECUTION: 

			
	Telephone order number:	  	(718) 315-4970 or 4967
	Fax order number:	  	(718) 315-4881
	Depository Instructions	  	(000-000-0000)/SWIFT [            ]

 
  
 Participant must complete all items in Part I. The Trustee, in its discretion may reject any order not submitted in complete form. 

 

	I.	TO BE COMPLETED BY PARTICIPANT:

			
	Date:	 	  

			
	Broker Name:	 	  

			
	DTC Participant Number:	 	  

			
	Telephone Number:	 	
 

					
		 	Time:	 	  

					
		 	Firm Name:	 	  

					
		 	Fax Number:	 	  

		
		 	(One Basket = 50,000 [FXF]
Shares)

 

 

 

			
	Number of Baskets Transacted:	 	
 

 

 

			
	Order #	 	
 

					
		 	Number written out:	 	
 

 

  
 This Purchase Order is subject to the
terms and conditions of the Depositary Trust Agreement of the CurrencyShares Swiss Franc Trust as currently in effect and the Participant Agreement between the Authorized Participant, the Trustee and the Sponsor named therein. All representations
and warranties of the Authorized Participant set forth in such Depositary Trust Agreement and such Participant Agreement are incorporated herein by reference and are true and accurate as of the date hereof. 

The undersigned does hereby certify as of the date set forth below that he/she is an Authorized Person under the Participant Agreement and that he/she is
authorized to deliver this Purchase Order to the Trustee on behalf of the Authorized Participant. The Authorized Participant enters into this agreement based on an estimated Basket Swiss Franc Amount disseminated the previous business day and
recognizes the final Basket Swiss Franc Amount represented will be decreased based on the Trust’s daily accrual. At the conclusion of the trading day a final NAV will be disseminated to all Authorized Participants, and the Basket Swiss Franc
Amount required for the Purchase Order entered into on this day will be finalized and this Purchase Order will serve as a legally binding contract for settlement in 3 business days. 

 

					
	  
	 		 	  

	 Date
	 	 	 	Authorized Person’s Signature        

 

	II.	TO BE COMPLETED BY TRUSTEE: 

 This
certifies that the above order has been: 

                     Accepted by the Trustee

                     
Declined-Reason:                                      
                                         
                                         
     
  

									
	Final # of Swiss Francs	 	  
	 		 	Final # of [FXF] Shares	 	  

 

									
	  
	 		 	  
	 		 	  

	Date	 		 	Time	 		 	Authorized Signature of Trustee

 EXHIBIT C 
 CURRENCYSHARES SWISS FRANC TRUST 
 REDEMPTION ORDER FORM 

THE BANK OF NEW YORK, TRUSTEE 
  

 
 CONTACT INFORMATION FOR ORDER
EXECUTION: 

			
	Telephone order number:	  	(718) 315-4970 or 4967
	Fax order number:	  	(718) 315-4881
	Depository Instructions	  	(000-000-0000)/SWIFT [            ]

 
  
 Participant must complete all items in Part I. The Trustee, in its discretion may reject any order not submitted in complete form. 

 

	I.	TO BE COMPLETED BY PARTICIPANT:

			
	Date:	 	  

			
	Broker Name:	 	  

			
	DTC Participant Number:	 	  

			
	Telephone Number:	 	
 

					
		 	Time:	 	  

					
		 	Firm Name:	 	  

					
		 	Fax Number:	 	  

		
		 	(One Basket = 50,000 [FXF]
Shares)

 

 

 

			
	Number of Baskets Surrendered:	  	
 

 

 

			
	Order #	 	
 

					
		 	Number written out:	 	
 

 

  
 This Redemption Order is subject to
the terms and conditions of the Depositary Trust Agreement of the CurrencyShares Swiss Franc Trust as currently in effect and the Participant Agreement between the Authorized Participant, the Trustee and the Sponsor named therein. All
representations and warranties of the Authorized Participant set forth in such Depositary Trust Agreement and such Participant Agreement are incorporated herein by reference and are true and accurate as of the date hereof. 

The undersigned does hereby certify as of the date set forth below that he/she is an Authorized Person under the Participant Agreement and that he/she is
authorized to deliver this Redemption Order to the Trustee on behalf of the Authorized Participant. The Authorized Participant enters into this agreement based on an estimated Basket Swiss Franc Amount disseminated the previous business day and
recognizes the final Basket Swiss Franc Amount represented will be decreased based on the Trust’s daily accrual. At the conclusion of the trading day a final NAV will be disseminated to all Authorized Participants, and the Basket Swiss Franc
Amount required for the Redemption Order entered into on this day will be finalized and this Redemption Order will serve as a legally binding contract for settlement in 3 business days. 

 

					
	  
	 		 	  

	 Date
	 		 	Authorized Person’s Signature        

 

	II.	TO BE COMPLETED BY TRUSTEE: 

 This
certifies that the above order has been: 

                     Accepted by the Trustee

                     
Declined-Reason:                                      
                                         
                                         

  

									
	Final # of Swiss Francs	 	  
	 		 	Final # of [FXF] Shares	 	  

 

									
	  
	 		 	  
	 		 	  

	Date	 		 	Time	 		 	Authorized Signature of Trustee

 ATTACHMENT A 
 CREATION AND REDEMPTION OF SWISS FRANC SHARES AND 
 RELATED SWISS FRANCS
TRANSACTIONS 
 Scope of Procedures and Overview 
 These procedures (the “Procedures”) describe the processes by which one or more Baskets of Swiss Franc Trust shares (the “Shares”) issuable by The Bank of New York, as
trustee (the “Trustee”) of the CurrencyShares Swiss Franc Trust (the “Trust”), may be purchased or, once Shares have been issued, redeemed by an Authorized Participant. Shares may be created or redeemed only in
blocks of 50,000 Shares (each such block, a “Basket”). Because the issuance and redemption of Baskets also involve the transfer of Swiss Francs between the Authorized Participant and the Trust, certain processes relating to the
underlying transfers of Swiss Francs also are described. 
 Under these Procedures, Baskets may be issued only in consideration for Swiss Francs
transferred to and held in the Trust’s accounts maintained in London, England by London Branch of JPMorgan Chase Bank, N.A., as depository (the “Depository”). Capitalized terms used in these Procedures without further
definition have the meanings assigned to them in the Depositary Trust Agreement, dated as of [            ], 2006, between Rydex Specialized Products LLC (the
“Sponsor”), the Trustee, the registered owners and beneficial owners from time to time of Shares issued thereunder and all depositors (the “Trust Agreement”), or the Participant Agreement entered into by each
Authorized Participant with the Sponsor and the Trustee. 
 For purposes of these Procedures, a “Business Day” is defined as
any day other than (i) a Saturday or Sunday or (ii) a day on which the New York Stock Exchange (the “NYSE”) is not open for regular trading at noon New York City time. 

The Prospectus describes the creation and redemption process and the Trust; it will be delivered by the Sponsor to each Authorized Participant prior to
its execution of the Participant Agreement. Baskets are issued and redeemed in accordance with the Trust Agreement and the Participant Agreement. Baskets may be issued and redeemed on any Business Day by the Trustee in exchange for Swiss Francs,
which the Trustee receives from Authorized Participants or transfers to Authorized Participants, in each case on behalf of the Trust. Authorized Participants will be required to pay a nonrefundable per order transaction fee of $500 to the Trustee
(the “Transaction Fee”). 
 Authorized Participants and the Trust Transfer Swiss Francs and Baskets of Shares

 Upon acceptance of the Participant Agreement by the Sponsor and the Trustee, the Trustee will assign a personal identification number (a
“PIN”) to each person authorized to act for the Authorized Participant (an “Authorized Person”). This will allow the Authorized Participant through its Authorized Person(s) to place Purchase Order(s) or Redemption Order(s)
(together, “Orders”) for Baskets. 
 Important Notes: 

 

	•	 	 Any Purchase Order is subject to rejection by the Trustee for the reasons set forth in the Trust Agreement. 

 

	•	 	 All Orders are subject to the provisions of the Participant Agreement relating to unclear or ambiguous instructions. 

 CREATION PROCESS 

OVERVIEW 

The following describes the process by which Baskets are created. In summary, an order to purchase one or more Baskets of Shares is
placed by an Authorized Participant with the Trustee by 4:00 p.m. New York City (“NYC”) time on the Business Day that is the Order Date under the Trust Agreement (“CREATION T”), and a Basket is created by 9:30 a.m.
NYC time (usually 3:30 p.m. Central European Time (“CET”)) on the third Business Day following CREATION T (“CREATION T+3”). In order for the creation of a Basket to occur, the Authorized Participant must transfer to
the Trust Swiss Francs and the Trustee will transfer to the Authorized Participant’s account at The Depository Trust Company (“DTC”) Shares corresponding to the Swiss Francs the Participant has transferred to the Trust.

  

	C1	CREATION T (PURCHASE ORDER TRADE DATE) 

 C1.1 By the 4:00 p.m. NYC time (the “Order Cut-Off Time”) or by 12:00 p.m. NYC time on the monthly dividend declaration date (the “Early Order Cut-Off Time”), the Authorized
Participant submits to the Trustee the Authorized Participant’s order to create one or more Baskets of Shares (a “Purchase Order”) in accordance with the following process. 

C1.1.1 By the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, an Authorized Person of the Authorized Participant calls
the Trustee at 718-315-4970 or 4967, notifying the Trustee that the Authorized Participant wishes to place a Purchase Order for the Trustee to create an identified number of Baskets of Shares and requesting that the Trustee provide an order number.
The Authorized Person provides a PIN as identification to the Trustee. 
 C1.1.2 Incoming telephone calls are queued and will be
handled in the sequence received. The Trustee will process Purchase Orders if the phone call initiated by the Authorized Person is placed before the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, even though the remainder of the
order process is not completed until after the Order Cut-Off Time or the Early Order Cut-Off Time. Accordingly, do not hang up and redial. 
 C1.1.3 Purchase Orders initiated after the Order Cut-Off Time or the Early Order Cut-Off Time , as applicable will be rejected. 
 C1.1.4 During the phone call from the Authorized Person of the Authorized Participant to initiate a Purchase Order, the Trustee will give an order number for the Authorized Participant’s Purchase
Order. 
 C1.1.5 Within 15 minutes after receiving the order number from the Trustee, the Authorized Participant will fax the
Purchase Order to the Trustee using the Purchase Order Form included as part of the Participant Agreement. 
 C1.1.6 The
Purchase Order Form provides, among other things, for the number of Baskets that the Authorized Participant is ordering and the condition that the Purchase Order is subject to the Trustee’s receipt of the Transaction Fee by (DTC SPO Charge)
prior to delivery of the Baskets on CREATION T+3. 
 C1.1.7 If the Trustee has not received the Purchase Order Form from the
Authorized Participant within 15 minutes after the Authorized Person placed the phone call to the Trustee, the Trustee places a phone call to the Authorized Participant to inquire about the status of the order. If the Authorized Participant does not
fax the Purchase Order Form to the Trustee within 15 minutes after the Trustee’s phone call, the Authorized Participant’s order is cancelled, but the Authorized Participant will remain liable to the Trustee for the Transaction Fee.

  
 A-2

 C1.2 If the Trustee has received the Authorized Participant’s Purchase Order Form on
time in accordance with the preceding timing rules, then by 5:00 p.m. NYC time on CREATION T, the Trustee will return to the Participant a copy of the Purchase Order Form submitted, marking it “Affirmed subject to receipt of the Transaction Fee
prior to delivery of Baskets on CREATION T+3” and indicating, on a preliminary basis subject to confirmation, the number of Swiss Francs the Participant must transfer in exchange for the Basket(s). 

C1.3 The Participant ensures that by 3:30 p.m. CET (usually 9:30 a.m. NYC time) on CREATION T+3 that sufficient Swiss Francs are wire
transferred to the Depository. 
 C1.4 NOTES FOR AUTHORIZED PARTICIPANT (CREATION T) 

C1.4.1 The Authorized Participant must be a participating member of DTC. 

C1.4.2 The Authorized Participant must be able to transfer Swiss Francs via (RTGSplus, EBA EURO1 or TARGET). SWIFT BIC – CHASGB2L.

 C1.4.3 The Authorized Participant must have signed and delivered the Participant Agreement to the Trustee. The Trustee will
accept an Authorized Participant based on the representations made by the Authorized Participant in the Participant Agreement. The Trustee will not perform other due diligence or investigation of Authorized Participants. 

C1.4.4 The Authorized Participant must have in place, before a Purchase Order can be processed, account instructions for Swiss Francs
transfers with its sending financial institution. 
 C1.4.5 By 3:30 p.m. CET on CREATION T+3, Swiss Francs in the amount
needed to acquire the Shares must be standing to the credit of the Deposit Account in order for the Authorized Participant to receive Shares on CREATION T+3. 
 C1.4.6 An Authorized Participant may only deliver Swiss Francs for credit to the Depository in the following ways (RTGSplus, EBA EURO1 or TARGET). SWIFT BIC – CHASGB2L. 

C1.4.7 Prior to the delivery of the Baskets by the Trustee on CREATION T+3, the Authorized Participant must accept a DTC SPO Charge
for the applicable Transaction Fee from the Trustee. Purchase Orders for which the Trustee has not received the Transaction Fee will be cancelled subject to handling pursuant to supplemental procedures to be issued, but in any event the Authorized
Participant will remain obligated to the Trustee for the Transaction Fee. 
 C1.5 NOTES FOR TRUSTEE (CREATION T) 

C1.5.1 Based on the Purchase Orders placed with it on CREATION T, the Trustee sends an authenticated electronic message (SWIFT MT210) to
the Depository (by T+1) indicating the approximate total amount of Swiss Francs that the Depository will receive from the Authorized Participant on CREATION T+3. 

 

	C2	CREATION T+1 

 C2.1 The
Purchase Orders and instructions given on CREATION T are all pending with the Trustee. 
 C2.2 The Depository receives the
Trustee’s message (SWIFT MT210) about the approximate total amount of Swiss Francs the Authorized Participant is required to transfer not later than 3:30 p.m. CET on CREATION T+3. 

  
 A-3

	C3	CREATION T+2 

 On CREATION
T+2 the Trustee notifies the Authorized Participant of the final amount of Swiss Francs that must be deposited in the Deposit Account (the “Basket Swiss Francs Amount”) not later than 3:30 p.m. CET on CREATION T+3 for creation of
the Baskets on that day. 
  

	C4	CREATION T+3 

 C4.1 By 3:30
p.m. CET (usually 9:30 a.m. NYC time), the Depository has received each Authorized Participant’s wire transfer of the Basket Swiss Francs Amount in the Deposit Account. 
 C4.2 As of 3:30 p.m. CET time, the Depository notifies the Trustee that the Basket Swiss Francs Amount has been transferred into the Deposit Account by an authenticated electronic message (SWIFT MT910).

 C4.3 Prior to the delivery of the Baskets on CREATION T+3, the Trustee must have received the Transaction Fee from the
Authorized Participant (SPO/DTC Charge). 
 C4.4 At 11:00 a.m. NYC time, following receipt of the notice from the Depository
confirming the transfer of the Basket Swiss Francs Amount to the Deposit Account, the Trustee authorizes the creation and issuance of the Baskets ordered by each Authorized Participant on CREATION T for which the Trustee has received confirmation
from the Depository of receipt of the Basket Swiss Francs Amount. 
 C4.5 By 11:00 a.m. NYC time, following receipt of the
notice from the Depository confirming the transfer of the Basket Swiss Francs Amount to the Deposit Account, the Trustee notifies its transfer agent service desk that it has authorized the creation and issuance of Baskets in the number specified,
and to increase the number of Shares outstanding accordingly. By 11:00 a.m. NYC time, following receipt of the notice from the Trustee that it has authorized the creation and issuance of Shares in the number specified, the Trustee’s transfer
agent service desk increases the number of Shares outstanding, and notifies the Trustee and the Trustee’s DTC operations desk that an increased number of Shares is now outstanding and available for release in accordance with the Trustee’s
instructions. 
 C4.6 By 11:00 a.m. NYC time, following receipt of notice from the Trustee’s transfer agent service desk
that the number of Shares now outstanding has been increased, the Trustee notifies its DTC operations desk to release the increased number of Shares through DTC to the DTC participant accounts of the Authorized Participants scheduled to receive
Baskets on CREATION T+3 for whom the Trustee has received confirmation from the Depository that the Basket Swiss Francs Amount has been received into the Deposit Account. 
 C4.7 Following the close of business (usually 3:30 p.m. CET time) on CREATION T+3, the Depository makes appropriate entries in its books and records to reflect the creation of Baskets. 

C4.8 Following the close of business (usually 3:30 p.m. CET time) on CREATION T+3, the Depository Swiss Francs system updates account
records, recording the movements of Swiss Francs in the Deposit Account and providing updated balances in the affected accounts as of the close of business (usually 3:30 p.m. CET time) on CREATION T+3. 

C4.9 Following the close of business (usually 3:30 p.m. CET time) on CREATION T+3, the Depository Swiss Francs system automatically
generates authenticated electronic messages constituting a statement of the activity affecting the Deposit Account (SWIFT MT940 or SWIFT MT950), (received only by the Trustee). 

C4.10 If the Authorized Participant fails to deliver Swiss Francs by 3:30 p.m. CET on CREATION T+3, (a) the Trustee will apply a
late fee equal to four (4) times the creation charge; and (b) the Depository may, in its reasonable discretion, apply a late fee calculated in accordance with standard industry practices pursuant to The European Interbank Compensation
Guidelines, as follows: 
 (Principal Amount) x
(            +25bps) x (# calendar days that the funds are late) divided by 360 x 100. 

  
 A-4

 In the event any such late fees are assessed, the Trustee will coordinate with the
Authorized Participant to arrange payment of such fees. 
 REDEMPTION PROCESS 

OVERVIEW 

The following describes the process by which Baskets are redeemed. In summary, an order to redeem one or more Baskets of Shares is placed
by an Authorized Participant with the Trustee by 4:00 p.m. NYC time on the Business Day that is the Order Date under the Trust Agreement (“REDEMPTION T”), and a Basket is redeemed by 3:30 p.m. CET (usually 9:30 a.m. NYC time) on the
third Business Day following REDEMPTION T (“REDEMPTION T+3”). In order for the redemption of a Basket to occur, the Authorized Participant must pay a transaction fee and the Trustee will instruct the Depository to transfer to
the Authorized Participant Swiss Francs corresponding to the Shares delivered for redemption. 
  

	R1	REDEMPTION T (REDEMPTION ORDER TRADE DATE) 

 R1.1 By the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, the Authorized Participant submits to the Trustee the Authorized Participant’s order to redeem one or more Baskets of
Shares (a “Redemption Order”) in accordance with the following process. 
 R1.1.1 By the Order Cut-Off Time or
the Early Order Cut-Off Time, as applicable, an Authorized Person of the Authorized Participant calls the Trustee at 718-315-4970 or 4967, notifying the Trustee that the Authorized Participant wishes to place a Redemption Order for the Trustee to
redeem an identified number of Baskets of Shares and requesting that the Trustee provide an order number. The Authorized Person provides a PIN as identification to the Trustee. 

R1.1.2 Incoming telephone calls are queued and will be handled in the sequence received. The Trustee will process the Redemption Order(s)
if the phone call initiated by the Authorized Person is placed before the Order Cut-Off Time or the Early Order Cut-Off Time as applicable, even though the remainder of the order process is not completed until after the Order Cut-Off Time or the
Early Order Cut-Off Time. Accordingly, do not hang up and redial. 
 R1.1.3 Redemption Orders initiated after the Order Cut-Off
Time or the Early Order Cut-Off Time are rejected. 
 R1.1.4 During the phone call from the Authorized Person of the Authorized
Participant to initiate a Redemption Order, the Trustee will give an order number for the Authorized Participant’s Redemption Order. 
 R1.1.5 Within 15 minutes after the phone call initiating the Redemption Order, the Authorized Participant will fax the Redemption Order to the Trustee using the Redemption Order Form included as part of
the Participant Agreement. 
 R1.1.6 The Redemption Order Form provides, among other things, for the number of Baskets that the
Authorized Participant is redeeming and the condition that the Redemption Order is subject to Trustee’s receipt of the Transaction Fee by SPO/DTC Charge prior to the delivery of the Swiss Francs to the Authorized Participant on REDEMPTION
T+3. 
 R1.1.7 If the Trustee has not received the Redemption Order Form from the Authorized Participant within 15 minutes
after the Authorized Person placed the phone call to the Trustee, the Trustee places a phone call to the Authorized Participant to inquire about the status of the order. If the Authorized 

  
 A-5

 
Participant does not fax the Redemption Order Form to the Trustee within 15 minutes after the Trustee’s phone call, the Authorized Participant’s order is cancelled, but the Authorized
Participant will remain liable to the Trustee for the Transaction Fee. 
 R1.2 If the Trustee has received the Authorized
Participant’s Redemption Order Form on time in accordance with the preceding timing rules, then by 5:00 p.m. NYC time on REDEMPTION T, the Trustee will return to the Authorized Participant a copy of the Redemption Order Form submitted, marking
it “Affirmed subject to receipt of Transaction Fee prior to delivery of the Swiss Francs on REDEMPTION T+3” and indicating, on a preliminary basis subject to confirmation, the number of Swiss Francs the Participant will receive upon
redemption of the indicated Basket(s) of Shares. 
 R1.3 For each Redemption Order, the Trustee sends an authenticated
electronic message (SWIFT MT202 or MT103plus) to the Depository indicating the amount of Swiss Francs to transfer from the Deposit Account by wire (RTGSplus, EBA EURO1 or TARGET) to the Authorized Participant’s designated account by 3:30 p.m.
CET (usually 9:30 a.m. NYC time) on REDEMPTION T+3. 
 R1.4 NOTES FOR TRUSTEE AND DEPOSITORY (REDEMPTION T) 

R1.4.1 The Trustee will prepare an authenticated electronic message (SWIFT MT202 or MT103plus) containing instructions on REDEMPTION T
specifying REDEMPTION T+3 as the date on which the instructions will be executed. 
 R1.4.2 The Trustee will only deliver
the authenticated electronic message (SWIFT MT202 or MT103plus) to the Depository on T+3 after confirming the Trustee’s receipt of Shares from the Authorized Participant through DTC. 

 

	R2	REDEMPTION T+1 

 R2.1
Redemption Orders and related instructions are in process. 
 R2.2 The Depository receives the authenticated electronic message
(SWIFT) or e-mail from the Trustee notifying the Depository of the approximate amount of Swiss Francs needed to be remitted to each Authorized Participant that has placed a Redemption Order on REDEMPTION T+3. 

 

	R3	REDEMPTION T+2 

 On
REDEMPTION T+2 the Trustee notifies the Authorized Participant of the final amount of Swiss Francs the Authorized Participant will receive upon redemption of the Basket(s) on Redemption T+3 (the “Basket Swiss Francs Amount”).

  

	R4	REDEMPTION T+3 

 R4.1 Prior
to the delivery of the Basket Swiss Francs Amount on REDEMPTION T+3, the Trustee must have received the Transaction Fee from the Authorized Participant (SPO/DTC) Charge. 
 R4.2 By 3:30 p.m. CET (usually 9:30 a.m. NYC time), the Authorized Participant delivers free to the Trustee’s participant account at DTC
(#                    ) the Shares to be redeemed. The Authorized Participant telephones the Trustee’s DTC operations desk ((718)
315-4970 or 4967) to expect the Authorized Participant’s Shares through DTC. 
 R4.2.1 By 3:30 p.m. CET (usually 9:30 a.m.
NYC time), the Trustee’s DTC operations desk notifies the Trustee whether the Shares being redeemed by the Authorized Participant have been received into the Trustee’s participant account at DTC. 

  
 A-6

 R4.2.2 By 3:30 p.m. CET (usually 9:30 a.m. NYC time), if the Shares being redeemed by the
Authorized Participant have been received into the Trustee’s participant account at DTC, the Trustee’s DTC operations desk accepts the Shares to be redeemed, notifies the Trustee that the Trustee has received the Authorized
Participant’s Shares and identifies the Authorized Participant from whom the Shares have been received. 
 R4.2.3 By 3:30
p.m. CET (usually 9:30 a.m. NYC time), if the Shares of a redeeming Authorized Participant have not been received into the Trustee’s participant account at DTC, the Trustee’s operations desk notifies the Trustee that the Trustee has not
received the Shares from the Authorized Participant, and identifies the Authorized Participant from whom Shares have not been received. 
 R4.3 By 3:30 p.m. CET (usually 9:30 a.m. NYC time), the Trustee sends an authenticated electronic message (SWIFT MT202 or MT103plus) to the Depository directing the Depository to transfer the Basket Swiss
Francs Amount to the accounts of those Authorized Participants from whom the Trustee has received Shares. The Swiss Francs will be sent to the designated accounts by wire (RTGSplus, EBA EURO1 or TARGET). 

R4.4 As of 3:30 p.m. CET time(usually 9:30 a.m. NYC time), following the receipt of the authenticated confirmatory electronic message
from the Trustee, the Depository executes the instructions from the Trustee to wire the Basket Swiss Francs Amount from the Trust Account and to transfer the Basket Swiss Francs Amount to the Authorized Participant’s designated account.

 R4.4.1 By DTC free delivery cut-off time (usually 2:00 p.m. NYC time), the Trustee’s DTC operations desk instructs the
Trustee’s transfer agent services desk to cancel Shares received for redemption. 
 R4.4.2 By DTC free delivery cut-off
time (usually 2:00 p.m. NYC time), the Trustee’s transfer agent services desk cancels the Authorized Participant’s Shares received for redemption and reduces the number of Trust Shares outstanding. 

R4.5 Following the close of business (usually 3:30 p.m. CET) on REDEMPTION T+3, the Depository makes the appropriate entries in its
books and records to reflect the redemptions. 
 R4.6 Following the close of business (usually 3:30 p.m. CET) on REDEMPTION
T+3, the Depository Swiss Francs system updates its account records, recording the movements of Swiss Francs in the Deposit Account and providing updated balances in the affected accounts as of the close of business (usually 3:30 p.m. CET) on
REDEMPTION T+3. 
 R4.7 Following the close of business (usually 3:30 p.m. CET) on REDEMPTION T+3, the Depository Swiss
Francs system automatically generates an authenticated electronic message (SWIFT MT140 or Swift MT950) constituting a statement of the activity affecting the Deposit Account (received only by the Trustee). 

  
 A-7

 Schedule to Exhibit 4.3 
 The following parties have each executed a separate Participation Agreement with The Bank of New York, as trustee, and Rydex Specialized Products LLC, as sponsor, which is substantially identical in all
material respects to the Participation Agreement filed herewith as Exhibit 4.3 and is dated as of the date listed opposite its name below. 
  

			
	 Name of Party
	  	 Date of Agreement

		
	Goldman Sachs & Co.	  	June 22, 2006
		
	Merrill Lynch Professional Clearing Corp.	  	June 26, 2006
		
	Timber Hill LLC	  	May 21, 2007
		
	ABN AMRO Clearing Chicago LLC (f/k/a Fortis Clearing Americas LLC, f/k/a O’Connor & Co. LLC)	  	October 30, 2007
		
	JPMorgan Securities, Inc. (as assigned by Bear, Stearns & Co. Inc.)	  	December 12, 2007
		
	EWT, LLC	  	July 14, 2008
		
	Newedge USA, LLC	  	August 26, 2008
		
	Goldman Sachs Execution & Clearing LP	  	October 24, 2008
		
	Citadel Securities LLC (f/k/a Citadel Derivatives Group, LLC and Citadel Trading Group, LLC)	  	November 13, 2008
		
	Nomura Securities International Inc.	  	June 14, 2010
		
	Morgan Stanley & Co. Inc.	  	August 26, 2010
		
	Virtu Financial BD LLC	  	December 3, 2010

 Except as noted above, there are no
material details in which the above Participation Agreements differ from the Participation Agreement filed herewith as Exhibit 4.3.Deposit Account Agreement

 Exhibit 10.1 
 GLOBAL ACCOUNT TERMS 
 DEPOSIT ACCOUNT AGREEMENT 

The Bank of New York, in its capacity as trustee of the CurrencyShares Swiss Franc Trust, a trust formed under New York law (the
“Customer” or “Trust”) and the London Branch of JPMorgan Chase Bank, N.A. (the “Bank”) undertake to comply with and be bound by the following Global Account Terms of this Deposit Account Agreement
(the “Agreement”). 
 ESTABLISHING ACCOUNTS 

 

	1.1	The Customer’s Swiss Franc-denominated, (i) interest-bearing account (the “Interest Account”) and (ii) non interest–bearing account
( the “Non-Interest Account”) (each individually the “Account” and collectively the “Accounts”) maintained with the Bank shall be subject to these Global Account Terms (the “Account
Terms”) and the Account Application and the Signature List executed by the Customer regarding the Accounts attached hereto (together, the “Account Applications”); and, by continuing to use the Accounts, the Customer
acknowledges its acceptance of these Account Terms and the relevant Account Applications. 

  

	1.2	Unless otherwise specified, the Customer will establish the Accounts as principal. The Customer shall not transfer any of its rights and interests in the Accounts nor
create any form of security interest over such rights and interests without the prior written consent of the Bank. 

  

	1.3	The Customer represents and warrants that it has power and capacity to open and operate the Accounts, that the Account Terms and the relevant Account Applications
constitute valid and binding obligations of the Customer and that the Customer has taken all necessary actions to duly authorize the execution and delivery of the same. 

 SIGNATORIES 
  

	2.1	“Signatory” means a person named in the relevant Account Application (or other analogous document under which the Customer authorises persons to
communicate with the Bank in relation to the Accounts) who is authorised to act on behalf of the Customer at the time of the relevant Instruction (as defined in Section 4.1) and in respect of the matters set out in clause 3 below.

  

	2.2	The Bank may treat any Signatory as duly authorised to issue Instructions until the Bank receives written notice from the Customer, after which the Bank shall act
promptly, that the Signatory no longer has the authority to issue Instructions. 

  

	2.3	The Customer will provide specimen signatures (including specimens of facsimile signatures and/or personal seals) to the Bank (in the Account Application or otherwise)
in the number and form required and will verify the identity of each Signatory in a manner required by the Bank. 

 AUTHORITY OF SIGNATORIES 

 

	3.1	Each Signatory, subject to any written limitation received by the Bank from the Customer, is authorised on behalf of the Customer to: 

 

	 	(a)	open, operate and close the Accounts; 

  

	 	(b)	appoint and remove Signatories; 

  

	 	(c)	execute the Account Application(s) and any form of agreement relating to communications, whether by telephone, telex, electronic or other means;

  

	 	(d)	execute any agreements relating to overdrafts, borrowings or cash management; 

 

	 	(e)	draw, accept, endorse or discount cheques, drafts, bills of exchange, notes and other instruments; 

 

	 	(f)	overdraw the Accounts as may be permitted by the Bank; 

  

	 	(g)	make arrangements with the Bank concerning periodic payments into or out of the Accounts; 

 

	 	(h)	advise the Bank of credits destined for the Customer’s Account; 

  

	 	(i)	place money on interest-bearing or term deposit with the Bank and withdraw that money and accrued interest either on or before any applicable maturity date;

  

	 	(j)	authorize and request the Bank to effect foreign exchange transactions and purchase and/or sell treasury products for the account of the Customer;

  

	 	(k)	deposit any property of the Customer with the Bank for safe keeping, have access to and reclaim any property so deposited or give the Bank Instructions in relation to
it; 

  

	 	(l)	execute guarantees, indemnities or other undertakings to the Bank in relation to: 

 

	 	(i)	missing documents; 

  

	 	(ii)	guarantees, letters of credit or other undertakings given or to be given by the Bank to or at the request of the Customer; or 

 

	 	(iii)	anything else done or to be done by the Bank at the request of the Customer; 

 

	 	(m)	give the Bank any form of security over, or make any other arrangements with the Bank concerning, any property of the Customer including without limitation bills of
exchange, bills of lading, warehouse certificates, insurance policies and share and debenture certificates; 

  
 2 

	 	(n)	countermand, revoke or amend Instructions; and 

  

	 	(o)	give the Bank Instructions relating to any of the above. 

 INSTRUCTIONS 
  

	4.1	“Instruction” means a communication, including without limitation a cheque or demand for payment, which (i) contains the information required by
the Bank to enable the Bank to give effect to the communication; (ii) is received by the Bank in writing, by facsimile, tested or untested telex, SWIFT, telephone, or via the Bank’s electronic instruction system or such other means as are
for the time being agreed by the Customer and the Bank; and (iii) the Bank believes in good faith to have been given by the Customer. 

  

	4.2	The Customer is responsible for keeping and completing cheques and other forms and documents and for issuing Instructions in a manner so as to prevent unauthorised
completion, alterations or additions. The Customer shall not issue cheques which are post-dated and shall immediately notify the Bank if it becomes aware that any of its cheques (whether completed or blank) are lost or stolen.

  

	4.3	If the Bank and the Customer at any time agree on a security procedure to be used in relation to any category of communications (including encryption), the Customer
shall safeguard any test keys, passwords, identification codes or other security or authentication devices, make them available only to properly authorised persons and be fully responsible for any use of such security procedure (whether authorised
or unauthorised) 

  

	4.4	Nothing in this Clause 4 obligates the Bank to confirm Instructions which appear to the Bank acting in good faith to have been given by the Customer.

 AUTHORITY AND OBLIGATIONS OF THE BANK 

 

	5.1.	The Bank is authorised and agrees to accept, honour and execute without inquiry each Instruction which the Bank believes in good faith to have been given by a Signatory
and any other Instruction communicated by other means which the Bank receives in strict accordance with any agreed security procedure. Provided the Bank believes in good faith that an Instruction has been given by a Signatory, where such an
Instruction has been effected by means of a facsimile signature, personal seal or chop, the Bank is authorised to act on such Instruction, regardless of by whom the facsimile signature, personal seal or chop was actually affixed. The Bank need not
inquire into the circumstances of any transaction. 

  

	5.2	The Bank may at its option use any means to confirm or clarify Instructions, even if any agreed security procedure appears to have been followed. If the Bank is not
satisfied with any confirmation or clarification, it may decline to honour the Instruction. 

  

	5.3	The Bank has established cut-off times for some categories of communications, details of which are attached hereto as Addendum A. If an Instruction is received
by the Bank after its cut-off times, the Bank may process the Instruction on the next day on which it is open for such business. The Bank may process any Instruction through any of the payments systems identified in Addendum A.

  
 3 

	5.4	Execution of Instructions will be subject to applicable law and the rules of the payment system used, including those laws or rules concerning a misdescribed or missing
beneficiary, beneficiary’s bank or intermediary bank. The Bank may rely on the identifying number of any account, intermediary or beneficiary’s bank which appears in an Instruction as the proper identification of the beneficiary,
intermediary or beneficiary’s bank notwithstanding that the Instruction identifies an entity different from the entity identified by name in the Instruction. The Bank may complete or correct incomplete or inaccurate intermediary or beneficiary
bank details. 

  

	5.5	Due to the operations of the Trust, mid-month redemptions of shares of the Trust could result in an Instruction that would require a withdrawal from the Non-Interest
Account in excess of the balance in such account. The Bank shall honour such an Instruction without assessing an overdraft fee. They Bank may charge customary interest, fees and other expenses for all other overdrafts of the Non-Interest Account or
the Interest Account. 

  

	5.6	Where execution of an Instruction requires the Bank to purchase or sell a currency other than the currency of the Account on which the Instruction is given, the Bank is
authorised to purchase or sell the currency at a commercially reasonable rate at the relevant time for the purchase or sale of such currency taking into account the size and tenor of the transaction. 

 

	5.7	If the Customer chooses to confirm any Instruction, any confirmation must be clearly marked as such and, if there is any discrepancy between an Instruction and any
confirmation, the terms of the Instruction shall prevail. 

 DEPOSITS, AVAILABILITY OF FUNDS 

 

	6.1	The Customer undertakes that it will have good title to all items presented to the Bank for deposit or for any other purpose. Money deposited or paid into an Account
will not be regarded as available until collected and irrevocably received in cleared funds. The Customer requests that the Bank accept without inquiry all cheques and other instruments presented for deposit into the Account without checking whether
they are valid, properly endorsed or owned by the Customer. 

  

	6.2	As collecting bank, the Bank as agent for the Customer will deal with and present the cheques and instruments in accordance with the custom and practice of the country
in which the cheques are collected. 

  

	6.3	If the Bank credits the Account in contemplation of receiving funds for the Customer’s credit and those funds are not actually received by the Bank, or on the
faith of a transaction which is subsequently set aside or revoked, or if the Bank does not receive funds for the Customer’s credit for value on the date advised by or on behalf of the Customer, the Bank shall be entitled to debit the Account of
the Customer with the amount previously credited and/or with any other charges incurred. If the Account becomes overdrawn or further overdrawn as a result of such debit, the Customer will pay on demand the overdrawn amount and interest on the
overdrawn amount. 

  

	6.4	 Bank reserves the right not to accept, and to return without interest to the remitter of funds, the amounts received for deposit to the Interest
Account on any Bank business day, if the 

  
 4 

	 	 
aggregate deposit liability of the Bank to the Trust following the deposit of such amounts would exceed the Swiss Franc equivalent of $1.5 billion U.S. dollars calculated at the Federal Reserve
Bank of New York Noon Buying Rate (the “Noon Buying Rate”) for the Swiss Franc or another recognized market rate for the Swiss Franc if the Noon Buying Rate is not available on the banking day such deposits are received by the Bank.

  

	6.5	The Bank shall notify the Customer and the Customer’s sponsor if there are extraordinary circumstances causing the Bank to reasonably expect that it will be unable
to accept Instructions for the withdrawal of money held in the Accounts. Upon such notification, the Customer may determine, in its sole discretion, to suspend generally or refuse orders to redeem shares of the Trust. In such case, the Customer and
the Bank shall consult with each other and use good faith efforts to resume withdrawals as soon as possible. 

  

	6.6	Each day that orders are placed with and accepted by the Trust for the purchase or redemption of shares in the Trust, the Trust shall notify the Bank of the anticipated
amounts in Swiss Francs that will be deposited to, or withdrawn from, the Interest Account on the settlement date for those orders. 

 INTEREST 
  

	7.1	Interest will accrue daily, in Swiss Francs, on all Swiss Franc balances in the Interest Account only and will be credited monthly, in Swiss Francs, to the Non-Interest
Account. No interest will be earning on balances in the Non-Interest Account. The Bank agrees that it will endeavour at all times to pay a competitive interest rate on all Swiss Franc balances in the Interest Account. As of the date of this
Agreement, the Bank has agreed to pay interest at an annual nominal rate equal to 0.78%. The Bank may change the rate based upon changes in the British Bankers Association LIBOR Overnight rate for the Swiss Franc, other market conditions or the
Bank’s liquidity needs. The Bank will notify the Customer of the interest rate applied each Bank business day after the close of the Bank business day. The Bank will endeavour to provide to the Customer and Customer’s sponsor advance
notice whenever the Bank intends to change the interest rate on the Interest Account, except where there are unforeseen changes in conditions or significant changes in the Trust’s balances in the Interest Account. If the Bank at any time pays
an unsatisfactory interest rate on the Interest Account, the Customer’s sole recourse will to be to withdraw the Swiss Franc balance from the Interest Account, terminate the Deposit Account Agreement and close the Accounts.

 ACCOUNT INFORMATION 
  

	8.1	The Bank will issue, on a daily basis, balance and transactions reports for the Accounts for the previous banking day. Bank will also send a periodic statement of
account for the Accounts as agreed with the Customer. 

  

	8.2	 The Customer will ensure that the statements, confirmations and advices it receives from the Bank are examined by a responsible person on behalf of the
Customer within a reasonable time of receipt and, thereupon, Customer shall promptly notify the Bank of any mistake or discrepancy of which the Customer becomes aware from such statements, confirmations and

  
 5 

	 	 
advices. The Bank shall not be responsible for the Customer’s reliance on balance, transaction or related information which is subsequently updated or corrected or for the accuracy or
timeliness of information supplied by any third party to the Bank. 

 OTHER DOCUMENTATION 

 

	9.1.	These Account Terms and the Account Applications replace any existing agreements relating to the subject matter hereof or thereof, with effect from the date the Bank
receives the relevant Account Application or analogous document in form and substance satisfactory to the Bank. 

  

	9.2	These Account Terms are in addition to any future agreement between the Bank and the Customer (including without limitation any agreement relating to the provision of
electronic banking services, specific payment or cheque services or custody services) and if there is an inconsistency between these Account Terms and any such other agreement, any such other agreement will prevail for the purposes of the particular
account or service which is the subject of such other agreement. If there is an inconsistency between these Account Terms and any terms of the relevant Account Application(s), the terms of the Account Application(s) shall prevail for the purposes of
the Account(s) which are subject to such Account Application(s). 

 REVERSALS 

 

	10.1	Unless otherwise expressly provided, all Instructions shall continue in full force and effect until cancelled or superseded. Instructions may be reversed, amended,
cancelled or revoked by the Customer only with the consent of the Bank. That consent shall not be withheld unless the Bank reasonably determines that it would not be possible to give effect to any reversal, amendment or revocation, or the Bank has
entered into other transactions or otherwise materially changed its position as a result of receiving such Instructions. 

  

	10.2	The Customer may stop payment of a cheque at any time provided the Bank branch on which the cheque is drawn receives an Instruction to that effect from the Customer
prior to the Bank honouring or arranging to honour the cheque concerned. 

  

	10.3	If the Bank erroneously posts or fails to post an entry to the Account the Bank may reverse or make a correcting entry and the provisions of clause 6.3 shall apply to
any resulting overdraft. 

 FEES AND CHARGES 

 

	11.1	The Bank may, at its option, invoice the Customer or debit the Account for services or for handling telecommunications or messages dispatched at the Customer’s
request, and other out of pocket costs incurred by it for the Customer’s account in accordance with its fee arrangements in place from time to time. Attached hereto and marked “Fee Schedule” is a copy of the current fees. All payments
to be made to the Bank shall be in full, without set-off or counterclaim and free of any deductions or withholdings on account of any tax or otherwise. The Bank will forward to the Customer a statement in respect of each Account detailing all
interest (if applicable) and fees charged to that Account. 

  
 6 

	11.2	The Customer agrees to pay or reimburse the Bank for any taxes, levies, imposts, deductions, charges, stamp, transaction and other duties and withholdings (together
with any related interest, penalties, fines, and expenses in connection with them) in connection with the Accounts (including payments or receipts to the Accounts) except if imposed on the overall net income of the Bank. 

REPAYMENT OF OVERDRAFTS 
  

	12.1	In the event that there is an overdraft of the Non-Interest Account (as provided for in Section 5.5 hereof), any monies paid into the Non-Interest Account will
first be used to credit such overdraft. 

 INDEMNITY AND LIABILITY 

 

	13.1	The Customer shall fully indemnify the Bank and its employees, officers and directors and each of the affiliates and subsidiaries of JPMorgan Chase Bank, N.A. on
demand, at all times against any losses, costs, claims, damages, liabilities and expenses (including without limitation legal fees) which it or they suffer or incur directly or indirectly as a result of (i) the Customer’s breach of these
Account Terms, (ii) the Bank acting on what it believed in good faith to be the Customer’s communication or Instruction or because of anything done under or as contemplated by these Account Terms. This indemnity is in addition to and not
in substitution for any other indemnity or right in favour of the Bank given by law or otherwise and shall not be affected or discharged by any thing. 

  

	13.2	(i) Subject to clause 13.2 (ii) below, the Bank shall be liable only for direct loss or damage which the Customer suffers or incurs arising from the Bank’s
gross negligence or willful misconduct and shall not be liable for any other loss or damage of any nature. 

 (ii)
The Bank shall not in any event be liable for loss of business or profits or goodwill or any indirect or consequential or punitive or special loss or damage, in each case whether or not reasonably foreseeable, even if the Bank has been advised of
the likelihood of such loss or damage and whether arising from negligence, breach of contract or otherwise. 
 (iii) The
provisions of clause (i) and (ii) above shall not apply to the extent that the loss or damage is caused by fraud on the part of the Bank. 
  

	13.3	 The Bank of New York enters into this Agreement only in its capacity as trustee and in no other capacity, and in no circumstances shall The Bank of New
York have any liability under or in connection with this Agreement other than as trustee of the Trust. Any liability of the Trustee arising under or in connection with this Agreement is limited to, and can be enforced against the Trustee only to the
extent to which such liability can be satisfied out of, the assets of the Trust which are available under the terms of the trust agreement governing the Trust to meet such liability at the time the amount in respect of such liability is claimed
against the Trustee. This limitation on the Trustee’s liability applies despite any other provision of this Agreement and extends to all liabilities and obligations of the Trustee in any way connected with any representation, warranty, conduct,
omission, agreement or transaction related to this Agreement, except that the Trustee will be held 

  
 7 

	 	 
liable individually for its fraud or willful misconduct in connection with these Account Terms. 

 GOVERNING LAW AND JURISDICTION 
  

	14.1	These Account Terms, the relevant Account Application and the rights and obligations of the Customer and the Bank in respect of the Accounts shall be governed by,
performed and construed in accordance with the laws of England. 

  

	14.2	If any of these Account Terms is unenforceable or illegal in any jurisdiction, that will not affect the rest of the Account Terms in that jurisdiction, or any of the
Account Terms in any other jurisdiction. 

  

	14.3	In relation to the Accounts, the courts of England shall have non-exclusive jurisdiction to settle any disputes which arise out of or are connected with these Account
Terms, the relevant Account Application and/or the relevant Account. This clause does not prevent the Bank or Customer from taking proceedings in the United States. 

 RECORDING 
  

	15.1	The Bank may record telephone conversations in connection with an Instruction. At the Customer’s request and cost the Bank will supply a copy or transcript of any
such recording to the Customer. The recording or transcript may be used in resolving any dispute between the Bank and the Customer. Recordings and any transcript shall be the property of the Bank. 

 

	15.2	The Bank may microfilm or electronically record any document and subject to any law affecting the relevant Account may destroy the original of such documents. Subject
to the provisions of applicable law the Bank and the Customer shall be entitled to rely on any such stored document in any legal proceeding or for any other purpose. 

 DISCLOSURE 
  

	16.1	The Customer authorises the Bank to retain an affiliated company and/or any other agents to perform data processing, collection and other services which the Bank
considers necessary or desirable for the Bank. The Bank reserves the right to modify or terminate its arrangements with its agents at any time. 

  

	16.2	The Customer agrees that Instructions and information concerning the Accounts, the Customer and transactions to be disclosed in accordance with this clause 16 may be
transmitted across national boundaries and through networks including those owned and operated by third parties. 

  

	16.3	 The Customer authorises the Bank to disclose information concerning the Accounts, transaction or the Customer where, (i) in the Bank’s view,
the disclosure is necessary or desirable for the purpose of allowing the Bank to perform its duties and exercise its powers and rights hereunder; (ii) the disclosure is to a proposed assignee of the rights of the Bank in respect of the Account;
(iii) the disclosure is to a branch, affiliate, subsidiary, employee or agent of JPMorgan Chase & Co. or to its auditors or legal advisers; (iv) the disclosure is to

  
 8 

	 	 
the auditors of the Customer; or (v) as may be otherwise required by law, irrespective of whether the disclosure is made in the jurisdiction in which the Customer is resident, the Account is
kept, the transaction conducted or elsewhere. 

 FORCE MAJEURE 

 

	17.1	The Bank shall have no liability for any damage, loss, expense or liability of any nature which the Customer may suffer or incur, to the extent caused by an act of God,
fire, flood, civil or labour disturbance, war or terrorism, act of any governmental authority or other act or threat of any authority (de jure or de facto), legal constraint (including attachments or other legal process), fraud or forgery (other
than on the part of the Bank or any of its directors, officers or employees), malfunction of equipment (including, without limitation, any computer or related software) except where such malfunction is primarily attributable to the Bank’s gross
negligence in maintaining the equipment or software, failure of or the effect of rules or operations of any funds transfer system, inability to obtain or interruption of communications facilities, or any cause beyond the reasonable control of the
Bank (including, without limitation, the non-availability of appropriate foreign exchange); 

  

	17.2	Any amount standing to the credit of the Account with the Bank is payable exclusively at the branch at which the Account is held: however, payment may be suspended from
time to time in order to comply with any law, regulation, governmental decree or similar order for the time being affecting the Bank, its officers, employees, affiliates, agents or correspondents. 

NOTICES 
  

	18.1	Any communication, other than an Instruction, shall be in writing unless otherwise agreed and may be sent by personal delivery, facsimile, telex, SWIFT or post,
addressed, in the case of communications from the Customer to the Bank, to the branch of the Bank where the Account is maintained, and, in the case of communications from the Bank to the Customer, to the address notified by the Customer to the Bank
from time to time. Any communication will only be effective when actually received. 

 CLOSURE/TERMINATION

  

	19.1	The Bank has the right to close an Account at any time by not less than ninety days notice in writing addressed to the Customer at its most recent address as advised by
the Customer to the Bank. Before or on the expiry of such notice the Bank, will transfer any balance in the Account in accordance with the Customer’s Instructions. On the expiry of such notice, the Bank’s obligations in respect of the
Account shall cease. However, any such closure or termination shall not affect the Customer’s liabilities to the Bank arising prior to or after such termination or closure, all of which shall continue in full force and effect. In the absence of
such Instructions the Bank may transfer the balance to an unclaimed moneys account. 

 MISCELLANEOUS 

 

	20.1	 The expressions “Bank” and “Customer” when used herein shall include any successor of the Bank or the Customer, as applicable, and
“successor” means an assignee or successor of 

  
 9 

	 	 
JPMorgan Chase Bank, N.A., or of the CurrencyShares Swiss Franc Trust, as applicable, or any person who, under the laws of its jurisdiction of incorporation or domicile, has assumed the rights
and obligations of JPMorgan Chase Bank, N.A., or of the CurrencyShares Swiss Franc Trust, as applicable, hereunder or to which under such laws the same have been transferred. 

 

	20.2	If these terms are translated into, or appear in a language other than English, the English language version shall govern and control. 

 

	20.3	Headings are for convenience only and shall not affect the interpretation of this document. 

 

	20.4	The Customer acknowledges that deposits held in a branch of the Bank located outside of the U.S. are not insured by the Federal Deposit Insurance Corporation, are
subject to cross-border risks and may enjoy a lesser preference, as compared to deposits held in the U.S., in the event the Bank should be liquidated, insolvent or placed into receivership or other proceeding for the benefit of creditors.

  

	20.5	These Account Terms may be enforced only by the Bank or the Customer or such party’s successors and permitted assigns. Notwithstanding the foregoing, but subject
to the prior written consent of the Bank, each employee, officer and director of the Bank and each of the affiliates and subsidiaries of JPMorgan Chase Bank, N.A. may enforce the terms of clause 13. The Bank and the Customer may at any time, by
agreement, rescind these Account Terms or vary them without the consent of such employees, officers, directors or the affiliates and subsidiaries of JPMorgan Chase Bank, N.A. 

 

	20.6	(i) The Bank will collect information about the Customer and the Customer’s employees and agents which may constitute personal data for the purposes of the Data
Protection Act 1998 (the “Act”) and other relevant data protection legislation (such as, without limitation, authorised signatory details). Such personal data may be collected by or on behalf of the Bank in a number of ways (the
“Collection Methods”), including via Account Applications or other analogous documents, via applications or documentation relating to the provision to or use by the Customer of electronic banking services, or specific payment or
cheque services, via the Customer’s use of such electronic banking services, or specific payment or cheque services, and via other correspondence or communications between the Customer and the Bank. 

(ii) The Bank will use personal data collected by it or on its behalf via the Collection Methods for the following purposes (the
“Purposes”); namely, for the purpose of providing the services to the Customer in accordance with the Global Account Terms and Account Applications, for otherwise administering the Account(s), for providing the Customer with
services such as electronic banking services, or specific payment or cheque services, for the Bank’s internal administrative purposes, for contacting the Customer about products and services which the Bank or other members of the Bank’s
group offer which the Bank believes may be of interest to the Customer, and as may be otherwise required by law or applicable regulatory or governmental authorities, and such purposes may include transfer of such personal data outside of the United
Kingdom to the Bank’s subsidiaries or other 

  
 10 

 
connected companies or to other organisations as may be required by law or other applicable regulatory or governmental authorities. 

(iii) The Customer shall ensure that any disclosure of personal data made by it or by its employees or agents via the Collection Methods
which relate to the Customer’s employees or agents is only made following notification by the Customer to data subjects of the Purposes for which their personal data may be processed by or on behalf of the Bank, and is otherwise fair and
lawful. 
 [Signatures on following page] 

  
 11 

 IN WITNESS WHEREOF, this Agreement has been duly executed as of June 8, 2006.

  

							
	CURRENCYSHARES SWISS FRANC TRUST
	
	By The Bank of New York, in its capacity as Trustee of the CurrencyShares Swiss Franc Trust and not in its individual capacity
			
		 	By	    	         /s/ Bruce Baumann

		 		    	        Name:	 	 Bruce Baumann

		 		    	        Title:	 	 Vice President

			
	
	JPMORGAN CHASE BANK, N.A., LONDON BRANCH
		
	By:	 	                 /s/
Phyllis A. Schroder

			
	Name:	 	            Phyllis A.
Schroder

			
	Title:	 	              Vice
President

  
 12

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