1. Terms used in this Rule 901 and not otherwise defined in the Rules shall have the meanings set forth in CFTC Rules 1.3 and 1.59.

2. No Official may trade, directly or indirectly:

   1. any Contract traded on or subject to the Rules or any related financial instrument, or
   2. any Contract or financial instrument where such Official has access to material nonpublic information concerning such Contract or financial instrument.

3. The Chief Regulatory Officer (or, in the case of the Chief Regulatory Officer, the Board) may grant exemptions from the provisions of paragraph (a) to Officials on a case-by-case basis under circumstances which are not contrary to the purposes of this rule and CFTC Regulation 1.59. Such circumstances may include, but are not necessarily limited to:

   1. participation in pooled investment vehicles where such Official has no direct or indirect control over Transactions effected by or for the account of the pool;

   2. service by such Official as an executor or administrator of an estate;

   3. service by such Official in any other fiduciary capacity, such as an officer of a charitable organization, in which such Official receives no pecuniary benefit from the trading of Contracts or other financial instruments;

   4. trading in Contracts or financial instruments executed on or subject to the rules of a swap execution facility, a designated contract market or a national securities exchange under circumstances in which such Official's access to material non-public information in respect of such financial instruments is sufficiently minimal or attenuated so as to be insignificant; and

   5. such other circumstances as the Chief Regulatory Officer (or, in the case of the Chief Regulatory Officer, the Board) may determine.

4. For the avoidance of doubt, participation by an Official in a retirement plan sponsored by the Exchange shall not be deemed to constitute trading directly or indirectly in a Contract or financial instrument, notwithstanding such plan's trading of Contracts or financial instruments.

5. Any Official that has received an exemption under Rule 901.3 must:

   1. furnish to the Exchange (or, in the case of the Chief Regulatory Officer, to the Board) account statements and other documents relevant to the trading activities that are so exempted; and

   2. inform the Chief Regulatory Officer (or, in the case of the Chief Regulatory Officer, the Board) within one business day of any material change of information that may affect such Official's qualification for such exemption.

6. Officials, agents and independent contractors of the Exchange are prohibited from disclosing material non-public information obtained as a result of their employment, agency relationship or engagement with the Exchange where the Official, agent or independent contractor expected or should have reasonably expected that the information disclosed may assist a Person in trading any Contract, any Contract traded on another designated contract market or other market, or any related underlying commodity or security.

1. Each Participant and Clearing Member, on behalf of itself and each of its Affiliates, Authorized Users and other Persons affiliated with any of the foregoing, hereby acknowledges and agrees that the Exchange owns and shall retain all right, title and interest in and to the Exchange and the Clearinghouse owns and shall retain all right, title and interest in and to the Clearinghouse, all components thereof, including without limitation all related applications, all application programming interfaces, user interface designs, software and source code and any and all intellectual property rights therein, including, without limitation all registered or unregistered, as applicable:

   1. copyright,
   2. trade mark,
   3. service mark,
   4. trade secret,
   5. trade name,
   6. data or database rights,
   7. design rights,
   8. moral rights,
   9. inventions, whether or not capable or protection by patent or registration,
   10. rights in commercial information or technical information, including know-how, research and development data and manufacturing methods,
   11. patent, and
   12. other intellectual property and ownership rights, including applications for the grant of any of the same, in or to the Exchange or the Clearinghouse and all other related proprietary rights of the Exchange, the Clearinghouse, and/or any of their Affiliates (together, with any and all enhancements, corrections, bug fixes, updates and other modifications to any of the foregoing and any and all data or information of any kind transmitted by means of any of the foregoing, including, without limitation, the market data, the "Proprietary Information"). Each Participant and Clearing Member, on behalf of itself and each of its Affiliates, Registered Users and other Persons affiliated with any of the foregoing, further acknowledges and agrees that the Proprietary Information is the exclusive, valuable and confidential property of the Exchange or the Clearinghouse. Each Participant and Clearing Member acknowledges and agrees that it shall not and shall not permit its Affiliates, Authorized Users and other Persons affiliated with any of the foregoing to, reverse engineer, copy, bug fix, correct, update, transfer, reproduce, republish, broadcast, create derivative works based on or otherwise modify, in any manner, all or any part of the Exchange or the Clearinghouse or the Proprietary Information. Each Participant and Clearing Member, further agrees to and to cause each of its Affiliates, Authorized Users and other Persons affiliated with any of the foregoing to, keep the Proprietary Information confidential and not to transfer, rent, lease, loan, sell or distribute, directly or indirectly, all or any portion of the Exchange or the Clearinghouse or any Proprietary Information.

2. Notwithstanding any other provision of this Rule 902, each Participant retains such rights as it may enjoy under applicable law with respect to market data solely in the form such market data was submitted to the Exchange by such Participant and its Authorized Users.

3. Subject to the provisions of paragraph (1), all Participants, Authorized Users and other Persons affiliated with either of the foregoing hereby acknowledge and agree that the Exchange is the owner of all rights, title and interest in and to all intellectual property and other proprietary rights (including all copyright, patent, trademark or trade secret rights) in market data, and all derivative works based thereon, and further agree not to distribute, create derivative works based on, or otherwise use or commercially exploit market data and any such derivative works, provided that Participants, Registered Users and such other Persons may use market data for their own internal business purposes. Without limiting the generality of the foregoing, Participants, Authorized Users and other Persons affiliated with any of the foregoing may not distribute, sell or retransmit market data Exchange to any third party.

4. Each Participant hereby grants the Exchange a non-exclusive, perpetual, freely transferable, world-wide and royalty-free license to use, distribute, sub-license, disclose and sell market data, in any manner, media and jurisdiction, for the benefit of the Exchange and/or its Affiliates; provided that, except as may otherwise be required by law or permitted by Rule 208 or in any written agreement between the Exchange and such Participant, the Exchange shall not disclose market data other than on an aggregated basis that does not directly or indirectly identify individual Participants.

The Exchange, Clearinghouse and Regulatory Services Provider may record conversations and retain copies of electronic communications between Exchange, Clearinghouse and/or Regulatory Services Provider personnel, on the one hand, and Participants and their Authorized Users, employees, and/or agents and Clearing Members and their employees and/or agents, on the other hand. Any such recordings may be retained by the Exchange, Clearinghouse or the Regulatory Services Provider in such manner and for such periods of time as required by Applicable Law.

Except as provided in this Rule 1004, all information provided by a Participant or Clearing Member to the Exchange or the Clearinghouse shall be held in confidence and shall not be made known to any other Person except as follows:

1. with the consent of the Participant or Clearing Member, as applicable, providing such information;

2. to a Governmental Authority, if the Exchange or the Clearinghouse is requested or legally required to do so by such government agency;

3. pursuant to legal process;

4. to a Clearinghouse of which such a Clearing Member is a member or in connection with the clearing of a Contract;

5. subject to appropriate confidentiality requirements, to any Person providing services to the Exchange or the Clearinghouse, including but not limited to the Regulatory Services Provider;

6. to the Board, any committee, Exchange or Clearinghouse Employee, attorneys and auditors, and to agents and independent contractors that have been engaged by the Exchange or the Clearinghouse who require such information in connection with the discharge of their duties to the Exchange or the Clearinghouse; and

7. as otherwise permitted under the Rules.

Notwithstanding any other provision of the Rules, the Exchange and Clearinghouse shall not be obligated to perform its obligations under the rules or any agreement with a Participant or Clearing Member, or to compensate any Person for losses occasioned by any delay or failure of performance, to the extent a delay or failure of performance is the result of circumstances that the Exchange or the Clearinghouse determines, in each of its sole discretion, may have an adverse effect upon the functions and facilities of the Exchange or the Clearinghouse, including, but not limited to, acts of God, fire or other natural disasters, inclement weather, embargos, bomb threats, pressure waves, disruption of electricity, pandemics, lockdowns, government-mandated work restrictions, communication outages or delays, acts or threats of terrorism, riots, commotions, strikes, war, invasions, hostilities (whether declared or not), and contaminations.

The Exchange or the Clearinghouse may, in each of its sole discretion, waive, or extend the time period for performing, any act or acts designated by the rules, but only to the extent such waiver or extension is not inconsistent with Applicable Law.

1. Any amendment, repeal, or adoption of a new Rule shall not affect any action taken or right accrued under the Rule prior to such amendment, repeal, or adoption.

2. The Exchange or Clearinghouse shall provide notice of any amendment, repeal, or adoption of a new Rule to all Participants and Clearing Members.

1. Any document required to be signed under the Rules may be signed electronically, provided that the electronic signature is in a form acceptable to the Exchange or Clearinghouse.

2. The Exchange or Clearinghouse may require that certain documents be signed in a specific manner or format.

1. The rules, and the rights and obligations of the Exchange, Clearinghouse, Participants, and Clearing Members under the Rules shall be governed by, and construed in accordance with, the laws of the State of Illinois applicable to contracts executed and performed wholly within the State of Illinois without regard to any provisions of Illinois law that would apply the substantive law of a different jurisdiction.
2. Any action, suit or proceeding against the Exchange or the Clearinghouse, and any of their Officials, Officers, Directors, limited liability company members, employees, agents, or any member of any committee must be brought within one (1) year from the time that a cause of action has accrued. Any such action, suit or proceeding shall be brought in the State or Federal courts located within the City of Chicago, Illinois. Each Participant and Clearing Member expressly consents, for itself and its Authorized Users, to the jurisdiction of any such court, waives any objection to venue therein, and waives any right it may have to a trial by jury.
3. In the event that a Participant or Clearing Member or an Affiliate thereof fails to prevail in a lawsuit or other legal proceeding instituted by such Participant, Clearing Member or such Affiliate against (1) the Exchange or the Clearinghouse, or (2) any Affiliate of the Exchange or the Clearinghouse or any of their respective Officials, officers, directors, equity holders, employees, agents, or any member of any committee, such Participant, Clearing Member or Affiliate shall pay to the Exchange or the Clearinghouse, as applicable, all reasonable costs and expenses, including attorneys’ fees, incurred by the Exchange or the Clearinghouse in the defense of such proceeding. This paragraph (2) shall not apply to Exchange or Clearinghouse disciplinary actions, appeals thereof, or an instance in which the Board has granted a waiver of the provisions hereof.

1. Each Participant and Clearing Member agrees to indemnify and hold harmless the Exchange, Clearinghouse, and their respective officers, directors, employees, and agents from and against any and all claims, liabilities, losses, damages, costs, and expenses arising out of or relating to the Participant's or Clearing Member's use of the Exchange or Clearinghouse.

2. The obligation to indemnify shall survive the termination of the Participant's or Clearing Member's relationship with the Exchange or Clearinghouse.

1. Participant's and Clearing Member's use of the Services, the System, Exchange and Clearinghouse property and any other information and materials provided by the Exchange or the Clearinghouse, is at the Participant's and Clearing Member's own risk, and the Services, the Exchange and Clearinghouse property and any other information and materials provided by the Exchange or the Clearinghouse hereunder are provided on an "as is" and "as available" basis, without warranties or representations of any kind, express or implied, by statute, common law or otherwise including all implied warranties of merchantability, fitness for a particular purpose and non-infringement and any warranties arising from a course of dealing, usage or trade practice. The Exchange and the Clearinghouse do not guarantee that (1) Exchange and Clearinghouse property or Services will operate in an error free, secure or uninterrupted manner, or (2) any information or materials provided by the Exchange, the Clearinghouse or accessible through Exchange or Clearinghouse property will be accurate, complete, reliable, or timely, or (3) the Exchange and Clearinghouse property or any aspects of the Services will be free from viruses or other harmful components. Neither Exchange nor its Affiliates shall have any liability for the creditworthiness of any Participant or for the acts or any aspect of the Services or System. Participants and Clearing Members are solely responsible for the security and integrity of their technology. Participants and Clearing Members acknowledge that their access to the System and the Services is internet-based and that the Exchange and the Clearinghouse have no control over the internet or Participant's and Clearing Member's connections thereto. Participants and Clearing Members further acknowledge that the internet, computer networks, and communications links and devices necessary to enable Participants and Clearing Members to access and use the System and the Services are inherently insecure and vulnerable to attempts at unauthorized entry and that no form of protection can ensure Participant's and Clearing Member's data, hardware, or software or the System or other Exchange or Clearinghouse property will be fully secure. Furthermore, neither the Exchange nor the Clearinghouse shall be obligated to monitor or verify any information displayed through the System.

2. Excluding any liability for such party's fraud or willful misconduct, and excluding any indemnification obligations under a Participant Agreement or a Clearing Member Agreement (as applicable), each party agrees that in no event shall either party be liable for any indirect, special, punitive, exemplary or consequential damages, including damages for loss of profits, loss of revenue, loss or corruption of data, trading losses or business interruption and the like, arising in any manner whatsoever out of or in connection with this agreement or any use (whether or not authorized) or inability to use Exchange or Clearinghouse property or any other information or materials provided to a Participant or Clearing Member by the Exchange or Clearinghouse or accessible through the Systems or Services, including the accuracy, completeness, reliability, timeliness, quality, security, performance, or pricing of the Systems or Services or any failures, malfunctions, interruptions, degradations or delays associated therewith, regardless of whether such damages arise in tort, contract, or otherwise, and even if it has been advised of the possibility of such damages.

3. Notwithstanding the foregoing, if a court or other tribunal of competent jurisdiction should find the Exchange, the Clearinghouse or any of their Affiliates liable for any loss, damage or expenses, the aggregate liability of the Exchange, the Clearinghouse and their Affiliates, regardless of the form of action, shall in no event exceed the greater of:

   1. $100,000 and
   2. the total commissions, fees, or other amounts (excluding any applicable taxes and duties) paid to the Exchange and Clearinghouse by the applicable Participant or Clearing Member during the six months preceding the date on which the events giving rise to such liability arose.

4. Any claim for redress or damages hereunder shall be filed in a court of competent jurisdiction or filed for arbitration in accordance with Rule 701 within one (1) year of the date on which such claim allegedly arose. Failure to institute litigation or arbitration within such time period shall be deemed to be a waiver of such claim and the claim shall be of no further force or effect. The allocations of liability in this Rule 1011 represent the agreed and bargained for understanding of the parties, and each party acknowledges that the other party's rights and obligations hereunder reflect such allocations. The parties agree that they will not allege that this remedy fails its essential purpose.

5. Participant further agrees that the provisions of the Rules of the Clearinghouse limiting the liability of the Clearinghouse to its members shall apply to Participant as fully as if Participant were a member of the Clearinghouse mutatis mutandis. The Clearinghouse shall not be liable for any obligations of a non-clearing member, obligations of a Clearing Member to a nonmember, obligations of a Clearing Member to another member of the Clearinghouse who is acting for him as broker, or obligations to a Customer by a Clearing Member; nor shall the Clearinghouse become liable to make deliveries to or accept deliveries from a Customer of its Clearing Members.

6. Neither the Exchange nor the Clearinghouse will have any responsibility or liability to any Person for the use of, or any failure, error, action or omission of, the Settlement Facility.

1. Participants or Clearing Members are permitted to be Affiliates of the Exchange or Clearinghouse. The Exchange, the Clearinghouse, and Affiliate Participants and Clearing Members, are required to publicly disclose the affiliation.
2. The Affiliate Participant or Clearing Member shall not receive preferential treatment from the Exchange or Clearinghouse, nor shall it have an inherent advantage over any other Participant or Clearing Member.
3. The Affiliate Participant or Clearing Member shall not have access to the Exchange or Clearinghouse’s material non-public information, and the Exchange and Clearinghouse shall ensure the Affiliate Participant’s or Clearing Member’s access to information is limited to information available to all Participants or Clearing Members, respectively. Affiliate Clearing Member customers shall not have access to the Exchange or Clearinghouse material non-public information, and the Exchange and Clearinghouse shall ensure the Affiliate Clearing Member’s access to information is limited to information available to all Clearing Members.
4. The Affiliate Participant or Clearing Member shall be subject to the same access criteria and must abide by the same Rules as all other Participants or Clearing Members, respectively.