On November 12, the Commodity Futures Trading Commission proposed to exempt from the Commodity Exchange Act and the regulations thereunder the trading and clearing of certain “options” and “security futures” contracts on iShares COMEX Gold Trust Shares and iShares Silver Trust Shares. The contracts subject to the proposed exemption would be traded on national securities exchanges (in the case of options) and on designated contract markets registered as limited purpose national securities associations with the Securities and Exchange Commission (in the case of security futures), and would be cleared through the Options Clearing Corporation, which is registered with the CFTC as a derivatives clearing organization, in its capacity as a registered securities clearing agency.