SILVER - COMMODITY EXCHANGE INC.                                                                              
Commitments of Traders with Delta-adjusted Options and Futures Combined, January 18, 2005                
-------------------------------------------------------------------------------------------------------------------
     :   Total  :                        Reportable Positions                                :   Nonreportable
     :----------------------------------------------------------------------------------------     Positions
     :   Open   :           Non-Commercial       :     Commercial      :       Total         :
     : Interest :   Long   :  Short   : Spreading:   Long   :  Short   :   Long   :  Short   :   Long   :  Short
-------------------------------------------------------------------------------------------------------------------
     :          : (CONTRACTS OF 5,000 TROY OUNCES)                                           :
     :          :                                                                            :
All  :   123,268:    42,199      9,187     21,160     25,089     81,537     88,448    111,883:    34,821     11,385
Old  :   123,268:    42,199      9,187     21,160     25,089     81,537     88,448    111,883:    34,821     11,385
Other:         0:         0          0          0          0          0          0          0:         0          0
     :          :                                                                            :
     :          :          Changes in Commitments from: January 11, 2005                     :
     :     3,017:        97        565      1,554      1,795      1,156      3,446      3,274:      -429       -258
     :          :                                                                            :
     :          :    Percent of Open Interest Represented by Each Category of Trader         :
All  :     100.0:      34.2        7.5       17.2       20.4       66.1       71.8       90.8:      28.2        9.2
Old  :     100.0:      34.2        7.5       17.2       20.4       66.1       71.8       90.8:      28.2        9.2
Other:     100.0:       0.0        0.0        0.0        0.0        0.0        0.0        0.0:       0.0        0.0
     :          :                                                                            :
     :# Traders :              Number of Traders in Each Category                            :
All  :       174:       109         18         50         27         38        146         98:
Old  :       174:       109         18         50         27         38        146         98:
Other:         0:         0          0          0          0          0          0          0:
     :----------------------------------------------------------------------------------------------------
     :             Percent of Open Interest Held by the Indicated Number of the Largest Traders
     :                          By Gross Position                       By Net Position
     :               4 or Less Traders     8 or Less Traders     4 or Less Traders     8 or Less Traders
     :                 Long:     Short       Long      Short:      Long      Short       Long      Short
     :----------------------------------------------------------------------------------------------------
All  :                 17.4       29.6       24.9       43.0       13.3       25.0       18.8       37.0
Old  :                 17.4       29.6       24.9       43.0       13.3       25.0       18.8       37.0
Other:                  0.0        0.0        0.0        0.0        0.0        0.0        0.0        0.0
 
COPPER-GRADE #1 - COMMODITY EXCHANGE INC.                                                                     
Commitments of Traders with Delta-adjusted Options and Futures Combined, January 18, 2005                
-------------------------------------------------------------------------------------------------------------------
     :   Total  :                        Reportable Positions                                :   Nonreportable
     :----------------------------------------------------------------------------------------     Positions
     :   Open   :           Non-Commercial       :     Commercial      :       Total         :
     : Interest :   Long   :  Short   : Spreading:   Long   :  Short   :   Long   :  Short   :   Long   :  Short
-------------------------------------------------------------------------------------------------------------------
     :          : (CONTRACTS OF 25,000 POUNDS)                                               :
     :          :                                                                            :
All  :    85,442:    23,654      4,648     13,804     34,299     59,212     71,756     77,664:    13,685      7,778
Old  :    85,442:    23,654      4,648     13,804     34,299     59,212     71,756     77,664:    13,685      7,778
Other:         0:         0          0          0          0          0          0          0:         0          0
     :          :                                                                            :
     :          :          Changes in Commitments from: January 11, 2005                     :
     :      -148:       231        656         46       -707     -1,657       -431       -955:       282        807
     :          :                                                                            :
     :          :    Percent of Open Interest Represented by Each Category of Trader         :
All  :     100.0:      27.7        5.4       16.2       40.1       69.3       84.0       90.9:      16.0        9.1
Old  :     100.0:      27.7        5.4       16.2       40.1       69.3       84.0       90.9:      16.0        9.1
Other:     100.0:       0.0        0.0        0.0        0.0        0.0        0.0        0.0:       0.0        0.0
     :          :                                                                            :
     :# Traders :              Number of Traders in Each Category                            :
All  :       140:        58         31         33         37         41        111         92:
Old  :       140:        58         31         33         37         41        111         92:
Other:         0:         0          0          0          0          0          0          0:
     :----------------------------------------------------------------------------------------------------
     :             Percent of Open Interest Held by the Indicated Number of the Largest Traders
     :                          By Gross Position                       By Net Position
     :               4 or Less Traders     8 or Less Traders     4 or Less Traders     8 or Less Traders
     :                 Long:     Short       Long      Short:      Long      Short       Long      Short
     :----------------------------------------------------------------------------------------------------
All  :                 24.0       45.8       35.8       59.1       20.7       42.8       31.7       52.2
Old  :                 24.0       45.8       35.8       59.1       20.7       42.8       31.7       52.2
Other:                  0.0        0.0        0.0        0.0        0.0        0.0        0.0        0.0
 
GOLD - COMMODITY EXCHANGE INC.                                                                                
Commitments of Traders with Delta-adjusted Options and Futures Combined, January 18, 2005                
-------------------------------------------------------------------------------------------------------------------
     :   Total  :                        Reportable Positions                                :   Nonreportable
     :----------------------------------------------------------------------------------------     Positions
     :   Open   :           Non-Commercial       :     Commercial      :       Total         :
     : Interest :   Long   :  Short   : Spreading:   Long   :  Short   :   Long   :  Short   :   Long   :  Short
-------------------------------------------------------------------------------------------------------------------
     :          : (CONTRACTS OF 100 TROY OUNCES)                                             :
     :          :                                                                            :
All  :   394,503:   108,842     43,838     97,972    124,695    226,773    331,509    368,584:    62,993     25,919
Old  :   394,503:   108,842     43,838     97,972    124,695    226,773    331,509    368,584:    62,993     25,919
Other:         0:         0          0          0          0          0          0          0:         0          0
     :          :                                                                            :
     :          :          Changes in Commitments from: January 11, 2005                     :
     :    -1,663:    -1,615      4,549        -57     -2,369     -8,344     -4,041     -3,851:     2,378      2,188
     :          :                                                                            :
     :          :    Percent of Open Interest Represented by Each Category of Trader         :
All  :     100.0:      27.6       11.1       24.8       31.6       57.5       84.0       93.4:      16.0        6.6
Old  :     100.0:      27.6       11.1       24.8       31.6       57.5       84.0       93.4:      16.0        6.6
Other:     100.0:       0.0        0.0        0.0        0.0        0.0        0.0        0.0:       0.0        0.0
     :          :                                                                            :
     :# Traders :              Number of Traders in Each Category                            :
All  :       239:       133         49         75         41         39        205        139:
Old  :       239:       133         49         75         41         39        205        139:
Other:         0:         0          0          0          0          0          0          0:
     :----------------------------------------------------------------------------------------------------
     :             Percent of Open Interest Held by the Indicated Number of the Largest Traders
     :                          By Gross Position                       By Net Position
     :               4 or Less Traders     8 or Less Traders     4 or Less Traders     8 or Less Traders
     :                 Long:     Short       Long      Short:      Long      Short       Long      Short
     :----------------------------------------------------------------------------------------------------
All  :                 21.8       27.2       32.3       44.2       13.6       21.2       18.1       31.1
Old  :                 21.8       27.2       32.3       44.2       13.6       21.2       18.1       31.1
Other:                  0.0        0.0        0.0        0.0        0.0        0.0        0.0        0.0
 
 

Updated January 21, 2005