NOTICE OF DISCIPLINARY ACTION

FILE NO.:

CBOT 09-03540-MS-BC

MEMBER FIRM:

Goldman Sachs Execution & Clearing (FCM 815)

CBOT RULE VIOLATION:

807. Open Long Positions During Delivery Month

At such times and in such manner as shall be prescribed by the Manual, clearing members shall submit complete and accurate record of dates of all open purchases for use in making deliveries. Clearing members shall be fully responsible for inventories submitted to the Clearing House. This rule shall not apply to trading in options contracts.

FINDINGS:

Pursuant to an offer of settlement in which Goldman Sachs Execution & Clearing neither admitted nor denied the findings, on January 20, 2010, a Panel of the CBOT Business Conduct Committee found that on each day beginning February 25 and continuing through March 11, 2009, Goldman Sachs Execution & Clearing inadvertently misreported to the Exchange open long and short positions of 275 contracts in the March 2009 Wheat futures contract when its internal bookkeeping had previously offset those positions. The Panel found that in so doing Goldman Sachs Execution & Clearing violated CBOT Rule 807.

PENALTY:

In accordance with the settlement offer, the Panel fined Goldman Sachs Execution & Clearing $7,500.

EFFECTIVE DATE:

January 22, 2010