CME GROUP INC.

APPLICATION FOR LISTING OF GOLD BRANDS

FOR DELIVERY AGAINST COMEX GOLD FUTURES CONTRACT

Letter of application should be addressed to CME Group Inc., Office of the Registrar, C/o Terry Gehring, 20
S. Wacker Drive, Chicago, IL 60606. The application must contain the requested information below. A
non-refundable application fee in the amount of $500.00, payable in US funds to CME Group Inc. must be
included with this application. The applicant is responsible for promptly informing the Exchange of any
change in the information contained in the application. Failure to do so may result in the revocation of the
Approved Brand.
The licensing of a brand as an Approved Brand for gold deliverable against the CME Group Inc.’s
Commodity Exchange, Inc. (the “Exchange”) gold futures contracts is at the sole discretion of the
Exchange and subject to all necessary approvals.
Upon approval by the Exchange, the applicant shall be subject to the Exchange’s Rules, the
delivery facilities and procedures set forth in Chapter 7, the disciplinary procedures set forth in
Chapter 4, and the arbitration procedures set forth in Chapter 6, and shall abide by and comply
with the terms of any disciplinary decision imposed or any arbitration award issued against it
pursuant to the Exchange’s Rules.
In addition, the applicant consents to the disciplinary jurisdiction of the Exchange during the
approval period and for five (5) years after such approval lapses, for conduct which occurred
while the brand was an Approved Brand.
Exchange Rules are available at the following link: http://www.cmegroup.com/rulebook/NYMEX/
NOTE: By submitting this application, the applicant hereby acknowledges and affirms the Exchange’s right
to rescind approval of its gold brand or brands. The applicant further acknowledges and affirms that it is
required to notify the Exchange of any material change in its operating condition. A material change in
operating condition shall be defined to be either a 20% decline in the approved refiner's net worth or a
change in majority ownership or control of an approved refiner.
THE EXCHANGE REQUIRES THAT APPLICANTS MEET THE FOLLOWING MINIMUM STANDARDS:
1. The applicant shall have been conducting a gold refining operation for not less than five (5) years prior to
the date of the application.
2. The applicant must have established annual production of not less than 150,000 ounces of bar gold
assaying .995 fine minimum for each of the last three (3) years and production capacity of at least
450,000 ounces of bar gold (.995 fine minimum) per year, which shall be verified by an engineering
report from an independent licensed engineer.
3. The applicant must have a net worth of not less than $25,000,000 for each of the last three (3) years and
have a credit rating satisfactory to the Exchange.
THE FOLLOWING INFORMATION MUST BE PROVIDED TO THE EXCHANGE:
4. Name and address of the producer. In addition, please include a primary contact and contact information
including email address.
5. Location of the refinery.
6. A detailed history of the refiner’s business and operations.
7. A detailed description of the full brand mark.
8. Fineness, weight and dimensions of bar(s).
9. Statement that each bar bears the brand mark, the serial number of the bar, weight in troy ounces (or
kilograms), and fineness, incised on the bar by the producer.
10. A replica, in the form of a drawing listing average dimensions, and two (2) photographs of the bar(s)
evidencing the fineness, serial numbers, brand marking and weight incised on each bar.

OFFICE OF THE REGISTRAR CME GROUP INC. Page 1

11. Certificates of assay from at least two (2) Exchange Approved Assayers or two mutually acceptable
independent assayers. The assayer's certificates must include a detailed chemical analysis in
accordance with the American Society for Testing & Materials specification, Designation B562 for refined
gold. Additionally, the assayer must certify that the material was chosen at random and that "the bars
were found to have surfaces that were reasonably smooth without irregularities such as layering, blow
holes, etc."
12. Annual production capacity verified by an engineering report from independent licensed engineer.
Applicant must submit actual production of bar gold for the last five (5) years.
13. Marketing channels and area of marketing.
14. Distributors and users of the brand.
15. A detailed description of laboratory facilities for assaying, weighing, and quality controls. The description
must include methods used in assaying incoming material and finished product, types of furnaces, list of
apparatus used in various methods of analysis, number of qualified personnel (chemists, technicians,
etc.), types of scales employed in weighing, and any other relevant information pertaining to the general
laboratory area. Also provide a list of independent assayers employed for periodic assay quality
verification. NOTE: Laboratory must be equipped with emissions spectroscopy apparatus for verifying
fineness as stamped on bars. The engineer's report on applicant's production capacity must confirm the
presence of this apparatus within the applicant's laboratory.
16. At least two (2) letters of recommendations from industrial consumers who have purchased a minimum
of 25,000 ounces of gold for each of the last two (2) years and who have conducted periodic independent
assays which must be specifically referred to in the letter of recommendation. Each letter must disclose
the nature of the consumer's business, products manufactured and the specific applications of gold in
said manufacture.
17. The name and address of commercial bank references, together with authorization to the Exchange to
communicate with such banks in order to obtain information concerning the applicant.
18. Audited financial statements for the last three (3) years including the most recent audited financial
statements certified by an independent certified public accountant or their acceptable foreign equivalent.
If the most recent audited financial statements are for a period ended more than ninety (90) days prior to
the date of this application, please provide in addition to the audited financial statements interim profit
and loss statement and balance sheet (which need not be audited) covering the period from the date of
the audited statement to a date not more than ninety (90) days prior to the date of application. The most
recent unaudited financial statements must be signed by the Chief Financial Officer of the applicant.

THE FOLLOWING DOCUMENTS MUST ACCOMPANY THE APPLICATION:

CONFIRMATION OF CONTINUANCE OF WARRANTIES

The producer shall submit a statement confirming to the Exchange that the approval of the brand, if granted,
shall at all times remain subject to limitations or revocation by the Exchange and that the representations and
warranties with respect to the brand shall remain effective at all times with respect to gold delivered prior to
the revocation of approval of the brand and with respect to gold delivered on Exchange contracts prior to
revocation thereof.
STATEMENT OF CONSENT TO JURISDICTION IN NEW YORK COURTS
If the producer is other than a New York corporation or a domestic or foreign corporation authorized to do
business in New York State pursuant to Article 13 of the New York Business Corporation Law, it shall furnish
a statement in such form as may be required by the Exchange designating an agent for the service of
process in New York (which agent must be either a New York Corporation or a person residing in New York)
and consenting to the jurisdiction of the courts of the State of New York in any litigation arising with respect to
gold of such producer included in the Exchange Official List of Approved Brands. (Forms of documents
approved by the Exchange are appended hereto).
Should you have any questions or require any further information please contact the Exchange’s Office of
the Registrar at registrar@cmegroup.com.

OFFICE OF THE REGISTRAR CME GROUP INC. Page 2

 CERTIFICATE
The undersigned, being the President and Secretary respectively of ____________
____________________, a ______________ corporation, having its principal place of business at
___________________________________ (hereinafter "Corporation") does hereby certify to CME Group
Inc. and Commodity Exchange, Inc. (hereinafter "COMEX") as follows:
1. That the following resolutions were duly and regularly adopted by the Board of Directors of the
Corporation at a meeting thereof duly called and held on the ____ day of _______________, 20___, at which
meeting a quorum was present and acting throughout, and that said resolutions are in full force and effect
and have not been modified, amended, repealed or revoked:
WHEREAS, it is in the best interest of this Corporation to have our gold bearing the Brand Mark
_______________ and refined at ____________________________ included in the official list of approved
brands for gold deliverable against the COMEX Gold futures contracts; and
WHEREAS, COMEX has requested as a condition of such inclusion that this Corporation designate an agent
for the service of process in the City of New York;
"NOW, THEREFORE, Be It Resolved, that this Corporation execute and deliver to COMEX a written
designation of agent for service of process in the form appended to these minutes;
"FURTHER RESOLVED, that the President or any Vice President and the Secretary or Assistant Secretary
of this Corporation be, and they hereby are, authorized, empowered and directed to execute such
designation of agent for service of process in such form on behalf of this Corporation and to deliver the same
to COMEX."
2. That the form of designation of agent for service of process appended to this certificate is the
same as the form referred to in the resolutions set forth above.
IN WITNESS WHEREOF, we have hereunto set our hands and affixed the seal of the Corporation
this _____ day of ____________________, 20___.
_________________________________
President

_________________________________
Secretary
(CORPORATE SEAL)

OFFICE OF THE REGISTRAR CME GROUP INC. Page 3

 DESIGNATION OF AGENT FOR SERVICE OF PROCESS

In order to induce CME Group Inc.’s Commodity Exchange, Inc. (hereinafter "COMEX") to
include our gold bearing the Brand Mark _____________________ and refined at
_______________________ in its official list of approved brands deliverable against the COMEX Gold
futures contracts, __________________, a ____________________ corporation with its principal place of
business at ______________________________ (hereinafter "Corporation") and in consideration thereof:

1. Corporation hereby designates and appoints ____________________, whose

address is _________________________________, as its lawful agent to accept service of process in any
suit, arbitration, or other proceeding, brought or commenced by COMEX, the CME Clearing House, any
clearing association affiliated with COMEX, and any member or member firm of COMEX, its affiliates or such
clearing association (collectively "Beneficiaries"), against Corporation relating to the performance of all the
obligations of Corporation to any Beneficiary pursuant to the certification of incorporation, by-laws, rules and
regulations of CME Group Inc., New York Mercantile Exchange, Inc., COMEX or any such clearing
association, both as now in effect and as the same may hereafter be modified, supplemented or amended, or
to the payment to any Beneficiary of any and all sums which shall at any time become due and owing to any
Beneficiary from Corporation. Corporation further agrees that service upon agent named above shall be
deemed for all purposes to be service upon the undersigned.

2. The appointment of agent herein contained may be terminated only upon no less
than thirty (30) days prior written notice from Corporation to COMEX. Notwithstanding any such termination:

(a) service upon such agent shall continue to be service upon Corporation with respect
to all obligations, liabilities and indebtedness of Corporation to any Beneficiary incurred prior to such
termination or arising, directly or indirectly, out of any events occurring prior to such termination; and

(b) Corporation must, at all times, maintain an agent for service of process; and

(c) Corporation may, at any time and from time to time, upon written notice to COMEX,
designate a new agent in substitution and place of the agent named above; provided, that such agent must
be either a resident of the City and State of New York or a corporation organized and existing under the laws
of the State of New York.

3. This undertaking cannot be changed or terminated orally; shall be interpreted

according to the laws of the State of New York; shall be binding upon the successors and assigns of
Corporation; and shall inure to the benefit of each Beneficiary and its successors and assigns.

IN WITNESS WHEREOF, the undersigned has hereunto executed this instrument this ____
day of ___________________, 20___.

Attest: ________________________________
Name of Corporation

____________________ By: ___________________________

Secretary Title

OFFICE OF THE REGISTRAR CME GROUP INC. Page 4

 CONSENT OF AGENT FOR SERVICE OF PROCESS

The undersigned, whose address is as set forth on the written designation of agent for service of
process, does hereby consent and agree to act as agent for service of process under and in accordance with
the terms of said designation.
___________________________
AGENT

Date: _________________

OFFICE OF THE REGISTRAR CME GROUP INC. Page 5

 GUARANTY BY PRODUCER
[GUARANTOR’S LETTERHEAD]

[DATE]

CME Group Inc.

Office of the Registrar
20 S. Wacker Drive
Chicago, IL 60606

Re: Application for brand of _____________

Guaranty of ____________________________

Dear Members of the Committee:

In consideration of your listing of brand ____________________ of gold produced by
__________________, (“Guarantor"), as qualified for delivery against gold futures contracts listed on
CME Group Inc.’s Commodity Exchange, Inc. ("COMEX"). Guarantor hereby guarantees to COMEX, their
parent, subsidiaries and affiliates (collectively the “Exchange”), and the Exchange’s successors and
assigns, Boards of Directors and Members and to any owner or holder of a receipt issued by a regular
depository for the storage of such gold (collectively the “Guarantees”) that:
1. All gold bearing said brand is a minimum of .995 fine and complies with all other
specification for gold established pursuant to Exchange Rules.
2. The integrity of gold bearing said brand or marking shall be maintained, so that at all
times such gold shall not be less than .995 fine and shall conform to the Exchange’s contract
specifications for gold.
3. A determination of the quality of the gold by an assayer designated by the Exchange
shall be binding upon the Guarantor and determinative of the quality thereof and, upon notice from the
Exchange, Guarantor shall pay Guarantees such damages as may be reasonably determined by the
Exchange for all gold determined not to conform to the Exchange’s contract specifications for gold. All
payments made under this guaranty, whether pursuant to a judgment or otherwise, shall be made in U.S.
Dollars. In the event that any payment, whether pursuant to a judgment or otherwise, upon such
conversion and transfer does not result in payment of such amount of U.S. Dollars Guarantees shall be
entitled to demand immediate payment of the U.S. Dollar deficiency in respect of the payments due.
4. All payments hereunder shall be paid in full, without set-off, deduction or withholding of
any kind and free and clear of any present or future taxes, levies, imposts, duties, fees, assessments or
other charges of whatever nature, now or hereafter imposed and all interest, penalties or similar liabilities
with respect thereto excluding income taxes of the United States and any political subdivisions thereof (all
such non-excluded taxes, levies, imposes, deductions, charges, withholdings and liabilities being herein
referred to as "Taxes"). If any Taxes are so levied or imposed, Guarantor shall pay the full amount of
such Taxes and such amounts as may be necessary in order that the amount actually received after any
deduction or withholding for or on account of any Taxes, shall not be less than any amount provided for
herein. Guarantor shall furnish Guarantees with certified copies of the receipts evidencing the payment
by Guarantor of all Taxes so levied or imposed which Guarantor is obligated to pay pursuant to applicable
law. Guarantor will indemnify and hold harmless Guarantees and reimburse Guarantees upon demand
for the amount of Taxes so levied or imposed and paid by Guarantees.
5. Guarantor agrees to pay and to indemnify and to hold Guarantees harmless from any
present or future claim or liability for any registration, stamp, documentary or other similar taxes, fees or
charges and any penalties or interest with respect thereto which may be assessed, levied or collected by
the [Guarantor's country] or by any department, agency, state or political subdivision or taxing authority
thereof or therein, or by any federation or organization of which [Guarantor's country] is a member, in or in
connection with the execution, issuance, delivery, filing, registration or enforcement of this guaranty.

OFFICE OF THE REGISTRAR CME GROUP INC. Page 6

 6. Guarantor and Guarantees hereby waive their right to trial by jury in any action or
proceeding arising out of, based upon, or in any way connected to this guaranty or any of the transactions
contemplated hereby.
7. This guaranty shall be construed and interpreted in accordance with the laws of the State
of New York without regard to the principles of conflict of laws.
8. Guarantor submits to the in personam jurisdiction of state and Federal courts located in
the City and State of New York and further agrees that (a) all actions and proceedings relating directly or
indirectly to this guaranty shall be litigated only in said courts or in courts located elsewhere as the
Exchange may select and that such courts are convenient forums and (b) waives personal service upon it
and consents to service of process out of said courts by mailing a copy thereof to it at the address
indicated below by registered or certified mail. Guarantor hereby agrees that a final judgment in any suit,
action or proceeding brought in such court shall be conclusive and binding upon Guarantor and may be
enforced in the courts of the United States of America, the State of New York, the [Guarantor's country] or
any other courts to the jurisdiction of which Guarantor is subject, by a suit upon judgment, providing that
service of process is affected on Guarantor in the manner specified above or as otherwise permitted by
law. Nothing in this paragraph shall affect the right of the Exchange to serve legal process in any other
manner permitted by law or effect the right of the Exchange to bring any action or proceeding against
Guarantor or Guarantor's property in the court of any other jurisdiction. To the extent that Guarantor has
or hereafter may acquire any immunity from suit, jurisdiction of any court or any legal process (whether
through attachment prior to judgment, attachment in aid of execution, execution of a judgment, or from
any other legal process or remedy) with respect to Guarantor or Guarantor's property, Guarantor hereby
irrevocably waives such immunity in respect of its obligations hereunder.
9. Guarantor represents and warrants to Guarantees that:
(a) It is a corporation duly organized, validly existing and in good standing under the laws of
[Guarantor's country], and has full power and authority to own its property and to carry on its business as
now conducted.
(b) It has full power and authority to execute, deliver and carry out the terms of this guaranty,
and to incur the obligations provided for herein, all of which have been duly authorized by all necessary
and proper corporate action. No consent or approval or the taking of any other action (including, without
limitation, by shareholders of Guarantor or any governmental authority) is required as a condition to the
validity or enforceability of this guaranty.
(c) This guaranty constitutes the valid and legally binding obligation of Guarantor
enforceable in accordance with its terms.
(d) There is no tax, levy, impost, deduction, charge or withholding imposed by [Guarantor's
country] or any political subdivision or taxing authority thereof on any payment to be made by Guarantor
under this guarantee or to be imposed on or by virtue of the execution and delivery of this guaranty.
(e) No consent, approval, authorization, order or license of or filing with any governmental
authority is necessary in connection with the execution, delivery, performance or enforceability of this
guaranty. There is no requirement that this guaranty be translated into [language of Guarantor's country]
to be enforceable under the laws of [Guarantor's country].
(f) Neither Guarantor nor any of Guarantor's property has any immunity from suit, jurisdiction
of any court or from any legal process (whether from attachment prior to judgment, attachment in aid of
execution, execution of a judgment, or from other legal process or remedy).
(g) To ensure the legality, validity, enforceability or admissibility in evidence of this guaranty
in [Guarantor's country] it is not necessary that this guaranty or any other document be filed or recorded
with any court or other authority in [Guarantor's country] or that any stamp or similar tax be paid on or in
respect of this guaranty.
10. This guaranty is a continuing obligation and shall remain in full force and effect and be
binding upon Guarantor, and Guarantor’s successors and assigns. This guaranty may be amended or
modified only in writing and such amendment or modification must be signed by the Guarantor and the
Exchange. This guaranty supersedes in full all previous oral or written agreements between Guarantor

OFFICE OF THE REGISTRAR CME GROUP INC. Page 7

and the Exchange with respect to the subject matter hereof. There are no oral or written collateral
representations, agreements, or understandings except as provided herein.
11. This guaranty embodies the entire agreement and understanding between the Exchange
and Guarantor with respect to the subject matter hereof and supersedes all prior agreements and
understandings.
12. Guarantor warrants that the person signing this guaranty has full power and authority to
execute, deliver and carry out the terms of the guaranty and to incur the obligations provided for herein,
which are duly authorized by all necessary and proper corporate action, and no further consent or
approval by Guarantor is required as a condition of the validity or enforceability of this guaranty.
13. All notices and other communications under this guaranty will be in writing and will be
deemed given upon receipt at the address below or such other address, as each party will specify by
written notice to the other party.
Notices to [Guarantor]: Company Name
Address
Telephone
Facsimile
E-mail

Notices to the Exchange: CME Group Inc.

Office of the Registrar
20 S. Wacker Drive
Chicago, IL 60606
registrar@cmegroup.com

IN WITNESS WHEREOF, the undersigned has caused this guaranty to be executed by

its duly authorized representative and its Corporate seal affixed this _____ day of ________, 20__.

________________________
[name]
________________________
[title]

OFFICE OF THE REGISTRAR CME GROUP INC. Page 8

 FOR FOREIGN BRANDS ONLY
[Opinion of Counsel]
[On Law Firm Letterhead]

[DATE]

CME Group Inc.

Office of the Registrar
20 S. Wacker Drive
Chicago, IL 60606

Dear Members of the Committee:

The undersigned are counsel for [Guarantor's name] and have been requested to give an opinion

in relation to the attached guaranty. In connection with your request we represent and warrant the

following.

(a) [Guarantor's name] is a corporation duly organized, validly existing and in good standing

under the laws of [Guarantor's country], and has full power and authority to own its property and to carry

on its business as now conducted.

(b) [Guarantor's name] has full power and authority to execute, deliver and carry out the

terms of this guaranty, and to incur the obligations provided for herein, all of which have been duly

authorized by all necessary and proper corporate action. No consent or approval or the taking of any

other action (including, without limitation, by shareholders of the undersigned or any governmental

authority) is required as a condition to the validity or enforceability of this guaranty.

(c) The execution, delivery and performance by the undersigned of this guaranty (i) do not

violate any provision of the certificate of incorporation or by-laws of the undersigned (or the [Guarantor's

country] equivalent thereof); and (ii) do not violate any order, decree or judgment or any provision of any

statute, rule, treaty, convention or regulation, and (iii) do not violate or conflict with or result in a breach or

constitute (with notice or lapse of time, or both) a default under any shareholder agreement, stock

purchase agreement, mortgage, indenture or contract to which the undersigned is a party or by which any

of its properties are bound; and do not result in the creation or imposition of any lien, charge or

encumbrance of any nature whatsoever upon any property or assets of the undersigned.

(d) There is no tax, levy, impost, deduction, charge or withholding imposed by [Guarantor's

country] or any political subdivision or taxing authority thereof on any payment to be made by the

OFFICE OF THE REGISTRAR CME GROUP INC. Page 9

undersigned under this guaranty or to be imposed on or by virtue of the execution and delivery of this

guaranty.

(e) No consent, approval, authorization, order or license of or filing with any governmental

authority is necessary in connection with the execution, delivery, performance or enforceability of this

guaranty. There is no requirement that this Agreement be translated into [language of Guarantor's

country] to be enforceable under the laws of [Guarantor's country].

(f) This guaranty constitutes the valid and legally binding obligation of the undersigned

enforceable in accordance with its term and such obligations rank at least pari passu with all other

obligations of the undersigned.

(g) Neither the undersigned nor any of its property has any immunity from suit, jurisdiction of

any court or from any legal process (whether from attachment prior to judgment, attachment in aid of

execution, execution of a judgment, or from other legal process or remedy).

(h) To ensure the legality, validity, enforceability or admissibility in evidence of this guaranty

in [Guarantor's country] it is not necessary that this guaranty or any other document be filed or recorded

with any court or other authority in [Guarantor's country] or that any stamp or similar tax be paid on or in

respect of this guaranty.

Very truly yours,

[Name]
[Title]

OFFICE OF THE REGISTRAR CME GROUP INC. Page 10