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Enron Mail |
Notice No. 01-64
February 20, 2001 MEMORANDUM TO: ALL NYMEX AND COMEX MEMBERS FROM: Neal L. Wolkoff, Executive Vice President DATE: February 20, 2001 RE: Implementation of NYMEX Resolution The purpose of this Notice is to advise Members that an Exchange Resolution= ,=20 which is attached, confers upon COMEX Division Members (owners and those=20 members who hold a seat pursuant to an A-B-C agreement) trading privileges= =20 for the execution of customer orders by open outcry in the Platinum Ring fo= r=20 the following NYMEX Division contracts: Platinum Futures; Palladium Futures= ,=20 Liquefied Propane Gas Futures and Platinum Options. The Resolution further= =20 provides that such trading privileges are revocable upon 90 days notice by= =20 the Exchange=01,s Board of Directors. The Exchange has also made related, conforming amendments to NYMEX Rules=20 6.43A (=01&Broker Association Registration Requirements=018); 6.44 (=01&Reg= istration=20 for Billing of Floor and NYMEX ACCESS7 Brokerage=018) and 8.66 (=01&Billing= and=20 Commissions=018). The new Resolution and the amendments to the NYMEX rules shall become=20 effective on Wednesday, February 21, 2001. Please be advised that before a COMEX Member can exercise these trading=20 privileges, the COMEX Member must first comply with the applicable=20 requirements for NYMEX Division Floor Members, including training for tradi= ng=20 on the NYMEX floor and obtaining a guarantee from a NYMEX Clearing Member. If you have any questions, please contact M. Dawn Lowe, Vice President, NYM= EX=20 Membership Department, at (212) 299-2370; George Henderson, Vice President,= =20 NYMEX Floor Dept., at (212) 299-2071; or Suellen Galish, Vice President,=20 NYMEX Legal Dept., at (212) 299-2215. * * * * RESOLUTION OF THE BOARD OF DIRECTORS TO CONFER ADDITIONAL TRADING PRIVILEGE= S=20 TO COMEX MEMBERS FOR PLATINUM, PALLADIUM AND PROPANE RESOLVED that the COMEX Division Members (owners and those members who hold= a=20 membership pursuant to an A-B-C Agreement) shall be conferred the privilege= =20 to trade Platinum Futures, Palladium Futures, Liquefied Propane Gas Futures= =20 and Platinum Options for customers in the Platinum ring by open-outcry; and IT IS FURTHER RESOLVED that this trading privilege is revocable upon 90 day= s=20 notice by further act of the Board of Directors in its sole discretion. NYMEX AMENDMENTS TO NYMEX RULE 6.43A (Asterisks indicate additions; brackets indicate deletions) Rule 6.43A BROKER ASSOCIATION REGISTRATION REQUIREMENTS (A) The term =01&broker association=018 shall mean two or more Trading Mem= bers at=20 least one of whom is actin as a Floor broker, who: I) engage in floor=20 brokerage activity on behalf of the same employer; ii) have an employer=20 relationship which relates to floor brokerage activity; iii) share profits= =20 and losses associated with their floor brokerage or trading activity;; iv)= =20 are officers, directors and/or ten percent (10%) shareholders of the same= =20 corporation which relates to floor brokerage activity; or v) regularly shar= e=20 a deck of orders. ** For the purposes of this rule only the terms =01&Floo= r=20 Broker=018 and =01&Trading Member=018 shall include COMEX Members who have = NYMEX=20 Division trading privileges. ** [The balance of the rule remains the same.] Rule 6.44 REGISTRATION FOR BILLING OF FLOOR AND NYMEX ACCESS BROKERAGE Member Firms and Floor Members engaged personally in floor brokerage or=20 operating brokerage businesses on the Exchange floor are required to regist= er=20 with the Membership Department, their names and the names of the entities= =20 under which brokerage will be billed, and the names of all persons having= =20 ownership interests in such entities, including the percentage of their=20 ownership interests, and to provide upon request any supporting information= =20 requested by the Membership Department or the Compliance Department. ** For= =20 the purposes of this rule the terms =01&Member=018, =01&Member Firm=018 and= =01&Floor=20 Member=018 shall include COMEX Members who have NYMEX Division trading=20 privileges. ** [The balance of the rule remains the same.] Rule 8.66 BILLING AND COMMISSIONS (A) Any bill for services rendered on the trading floor or on NYMEX ACESSc= =20 shall be issues in the name of, and as payable to a Member or Member Firm. = *=20 * For the purposes of this rule the terms =01&Member=018 and =01&Member Fir= m=018 shall=20 include COMEX Members who have NYMEX Division trading privileges. * * [The balance of the rule remains the same.] __________________________________________________ Please click on the link below to indicate you have received this email. "http://208.206.41.61/email/email_log.cfm?useremail=3Dsara.shackleton@enron= .com& refdoc=3D(01-64)" Note: If you click on the above line and nothing happens, please copy the text between the quotes, open your internet browser, paste it into the web site address and press Return.
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