At its meeting on September 13, 2006, the Board of Directors approved the deletion of Rule 9.24 Section (C)(3), which requires all of our banking partners to maintain a physical office for payment within the City of New York and located no further than 5 miles of the Exchange. This requirement is no longer applicable as all of our business with such banks is facilitated via electronic transmission and/or facsimile. Also, eliminating the NYC office requirement will allow several new banks, all meeting our capital and credit rating standards, to provide Letters of Credit on behalf of our Clearing Members. This amendment will be effective Friday, September 15, 2006.

(Bold/Strikethrough indicates deletions.)

Rule 9.24 – Original Margin Depositories and Originators of Letters of Credit

(C) In order to be approved as an original margin depository, a banking institution must:

(1) have capital and surplus of not less than $250,000,000;

(2) have a P-1 or A-1 rating from Moody’s Investor Services or from Standard and Poors Corp. respectively , and,

(3) maintain an office for payment within the City and County of New York and within five (5) miles of the offices of the Exchange .