Trading by Officials Prohibited; Misuse of Material, Non-Public Information

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.

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.

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.

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.

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.

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.