 and shall have the right to appeal
its suspension in accordance with the following procedure:

    (A). A suspended Clearing Participant may appeal its suspension by filing a written notice of

appeal within five Business Days after the date of its receipt of a written statement of the
grounds for its suspension.

    (B). Appeals shall be considered and decided by the Appeal Panel. Appeals shall be heard as

promptly as possible, and in no event more than five Business Days after the filing of the notice
of appeal. The appellant shall be notified of the time, place and date of the hearing not less than
three Business Days in advance of such date. At the hearing, the appellant shall be afforded an
opportunity to be heard and to present evidence in its own behalf, and may, if it so desires, be
represented by counsel. As promptly as possible after the hearing, the Appeal Panel shall, by the
vote of a majority of its members, affirm or reverse the suspension or modify the terms thereof.
The appellant shall be notified in writing of the Appeal Panel’s decision; and if the decision
shall have been to affirm or modify the suspension, the appellant shall be given a written
statement of the grounds therefor.

    (C). Any decision by the Appeal Panel to affirm or modify a suspension shall be reviewable by

the Board on its own motion or on written demand by the appellant filed with Commodity Stream, LLC
within three Business Days after receipt of notice of the Appeal Panel’s decision. The Board may
afford the appellant a further opportunity to be heard or to present evidence. The appellant shall
be notified in writing of the decision of the Board; and if the decision shall have been to affirm
or modify the suspension, the appellant shall be given a written statement of the grounds therefor.

    (D). The filing of an appeal pursuant to this Rule shall not impair the validity or stay the

effect of the suspension appealed from. The reversal or modification of a suspension shall not
invalidate any acts of Commodity Stream, LLC taken pursuant to such suspension prior to such
reversal or modification, and the rights of any person which may arise out of any such acts shall
not be affected by such reversal or modification.

    (E). A record shall be kept of any hearing held pursuant hereto. The cost of the transcript

may, in the discretion of the body holding the hearing, be charged in whole or in part to the
suspended Clearing Participant in the event that the suspension is finally affirmed.

## 603\. Sanctions from Disciplinary Proceedings

    (A). Commodity Stream, LLC may censure, suspend, expel or limit the activities, functions or

operations of, and/or impose a fine on (each a “sanction”), a Clearing Participant for (i) a
violation of the Rules or its agreements with Commodity Stream, LLC or the Exchange, (ii) any
neglect or refusal by such Clearing Participant to comply with any applicable order or direction of
Commodity Stream, LLC or the Exchange, (iii) any error, delay or other conduct that materially and
adversely affects the operations of Commodity Stream, LLC or Commodity Stream, LLC Exchange, (iv) a
violation of the rules of the Exchange, or (v) a failure to provide adequate personnel or
facilities, where applicable, for its transactions with Commodity Stream, LLC.

    (B). Commodity Stream, LLC shall provide prompt notice to the CFTC/and or any other governance Board
     of any action taken in accordance with this Rule 603.

## 604\. Procedures for Disciplinary Proceedings

    (A). Before any sanction is imposed pursuant to Rule 603, Commodity Stream, LLC shall furnish

the person against whom the sanction is sought to be imposed (“Respondent”) with a concise written
statement of the charges against the Respondent. The Respondent shall have ten Business Days after
the service of such statement to file with Commodity Stream, LLC a written answer thereto. The
answer shall admit or deny each allegation contained in the statement of charges and may also
contain any defense which the Respondent wishes to submit. Allegations contained in the statement
of charges which are not denied in the answer shall be deemed to have been admitted, and any
defense not raised in the answer shall be deemed to have been waived. If an answer is not filed
within the time prescribed above or any extension thereof granted pursuant to paragraph (d) of this
Rule, the allegations contained in the statement of charges shall be deemed to have been admitted,
and the sanction specified in the final request shall be imposed without further proceedings and
the Respondent shall be notified thereof in writing. If an answer is timely filed, Commodity
Stream, LLC shall (unless the Respondent and Commodity Stream, LLC shall have stipulated to the
imposition of an agreed sanction) schedule a hearing before the Disciplinary Panel. The Respondent
shall be given not less than three Business Days advance notice of the place and time of such
hearing. At the hearing, the Respondent shall be afforded the opportunity to be heard and to
present evidence in its behalf and may be represented by counsel. A record of the hearing shall be
prepared and the cost of the transcript may, in the discretion of the Disciplinary Panel, be
charged in whole or in part to the Respondent in the event any sanction is imposed on the
Respondent. As soon as practicable after the conclusion of the hearing, the Disciplinary Panel
shall furnish the Respondent and the Board with a written statement of its decision. If the
decision shall have been to impose a disciplinary sanction, the written statement shall set forth

        (i) any act or practice in which the Respondent has been found to have engaged, or which

the Respondent has been found to have omitted;

        (ii) the specific provisions of the Rules which any such act, practice or omission has been

deemed to violate; and

        (iii) the sanction imposed and the reasons therefor.

    (B). In the event that (i) the Disciplinary Panel censures, fines, suspends, expels or limits

the activities, functions or operations of a Respondent, or (ii) determines not to impose any
disciplinary measures on a Respondent, the Respondent, in the case of (i) above, or the President,
in the case of (ii) above, may apply for review to the Board, by written motion filed with
Commodity Stream, LLC within five Business Days after issuance of the Disciplinary Panel’s written
statement of its decision.

    (C). The granting of any such motion shall be within the discretion of the Board. In addition,

the Board may determine to review any such action by the Disciplinary Panel on its own motion.
Review by the Board shall be on the basis of the written record of the proceedings in which the
sanction was imposed, but the Board may, in its discretion, afford the Respondent a further
opportunity to be heard or to present evidence. A record shall be kept of any such further
proceedings. Based upon such review, the Board may affirm, reverse or modify, in whole or in part,
the decision of the Disciplinary Panel. The Respondent shall be notified in writing of the decision
of the Board and if the decision shall have been to affirm or modify the imposition of any
disciplinary sanction, the Respondent shall be given a written statement setting forth

        (i) any act or practice in which the Respondent has been found to have engaged, or which
         the Respondent has been found to have omitted;

        (ii) the Rules which any such act, practice or omission has been deemed to violate; and

        (iii) the sanction imposed and the reasons therefor.

    (D). Any time limit set forth in this Rule may be extended by the body having jurisdiction over

the matter in respect of which the time limit is imposed.

    (E). Any action taken by the Disciplinary Panel hereunder shall be deemed to be final upon (i)

expiration of the time provided for the filing of a motion for review, or any extension thereof
granted pursuant to paragraph (d) hereof; or (ii) if a motion for review is timely filed, when the
Respondent is notified of the denial of the motion or the decision of the Board on review, as the
case may be; or (iii) if the Board shall determine on its own motion to review the action by the
Disciplinary Panel, when the Respondent is notified of the decision of the Board on review.

    (F). The summary suspension of a Clearing Participant pursuant to Rule 601 shall not be deemed

to be a “sanction” within the meaning of this Rule, and the provisions of this Rule shall be
inapplicable to any such summary suspension.

## 605\. Discipline by Other Self-Regulatory Organizations

    (A). At the discretion of the Clearinghouse, any suspected violation of these Rules may be

referred to the enforcement staff of the Exchange.

    (B). Any inquiry, investigation or disciplinary action resulting from a suspected violation of

these Rules may be handled by Clearinghouse personnel, Exchange personnel, or personnel that serve
in roles at both the Clearinghouse and the Exchange.

    (C). Nothing in this Chapter 6 shall affect the right of any Self-Regulatory Organization to

discipline its members pursuant to the provisions of its rules for a violation of the Rules of
Commodity Stream, LLC. ## 606. Restriction on or Termination of Clearing Privileges.

    (A). If [