MACRO Securities Depositor, LLC S-1/A

AMENDMENT NO. 5

EX. 4.1 FORM OF UP...HOLDING TRUST AGMT

EX 4.2-FORM OF MACROSHARES...TRADEABLE TRUST AGMT

EXHIBIT 4.3 - FORM OF PARTICIPANTS AGMT

EXHIBIT 4.4 - ISDA MASTER AGREEMENT

EXHIBIT 4.5 - CONFIRMATION/FORM OF INC DIST AGMT

EXHIBIT 4.6 - CONFIRMATION/FORM OF SETTLE AGMT

EXHIBIT 4.7 - FORM OF MACRO LICENSE AGREEMENT

EXHIBIT 4.8 - FORM OF NYMEX SUBLICENSE AGREEMENT

EXHIBIT 8.1 - FORM OF TAX OPINION

EXHIBIT 99.1 - DOWN-MACRO PROSPECTUS

EXHIBIT 99.2 - DOWN-MACRO HOLDING TRUST AGMT

EXHIBIT 99.3 - FORM OF DOWN-MACRO TRADEABLE TRUST