Commodity Exchange, Inc. – Notification of Amended and Restated By-Laws

Pursuant to an overwhelmingly affirmative vote held at a Special Meeting of Members of Commodity Exchange, Inc. (“COMEX”), COMEX has implemented amendments to its By-Laws.  These COMEX By-Law amendments provide, among other things, that: 

1. the COMEX Division Member fee Differential shall be at least 50% lower than the

            respective fees charged to participants in the next highest tier of fees in perpetuity with

            limited exception;

2. COMEX Division rates for COMEX Division Members shall be secured for new metals

            traded on CME and CBOT in perpetuity;

3. a three (3)-year extension of cross-divisional trading fees (open outcry and electronic) to

2014 will be provided to COMEX Division Members trading NYMEX Division contracts;

4.  the requirement to maintain the current COMEX Division trading facility will be extended for an additional one-year period until 2012;

5. market maker programs may be instituted in line with existing CME Group programs

            designed to enhance customer participation and facilitate international growth; and

6. the COMEX By-laws affecting core COMEX Division Member rights can be amended

            by an affirmative vote of 300 COMEX Division Members.

For you convenience, attached is the Amended and Restated By-Laws of Commodity Exchange, Inc.

http://www.cmegroup.com/rulebook/NYMEX/BERD/COMEX_Bylaws.pdf

Should you have any questions, please contact Christopher Bowen at (212) 299-2200 or Donna Talamo at (212) 299-2372.