PARTICIPANT AGREEMENTParticipant Agreement • January 13th, 2012 • Currencyshares Japanese Yen Trust • Commodity contracts brokers & dealers • New York
This Participant Agreement (this “Agreement”), dated as of March 25, 2010, is entered into by and between Knight Clearing Services, LLC (with respect to this Agreement, the “Authorized Participant”, and with respect to the Trust Agreement referred to below, an “Authorized Participant”), The Bank of New York, a New York banking corporation, not in its individual capacity but solely as trustee (the “Trustee”) of the CurrencyShares Japanese Yen Trust (the “Trust”), and Rydex Specialized Products LLC, d/b/a Rydex Investments, as sponsor (the “Sponsor”) of the Trust.
