• Expansion of Zinc Storage and Delivery Warehouses into Europe and Asia

      • From
      • Registrar's Office
      • #
      • MKR06-15-17
      • Notice Date
      • 15 June 2017
      • Effective Date
      • 29 June 2017
    • DATE:             June 15, 2017

      MKR#:            06-15-17

      SUBJECT:      Expansion of Zinc Storage and Delivery Warehouses into Europe and Asia

       

      Pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (“NYMEX”) and Commodity Exchange, Inc. (“COMEX”) (collectively, the “Exchanges”) will implement an amendment to NYMEX/COMEX Rulebook Chapter 7, Rule 703 (“Delivery Facilities and Procedures – Designation and Obligations of Metal Service Providers”) in order to expand the location for the storage and delivery of zinc delivered against the Zinc Futures contract to Europe and Asia. Currently, zinc delivered against the Zinc Futures contract is deliverable in the Continental United States.

      On June 29, 2017, Chapter 7 of the NYMEX/COMEX Rulebook shall be amended as noted below and in accordance with NYMEX Submission No. 17-245 to reflect the aforementioned amendment.

      (additions underlined/deletions over struck)

      DELIVERY FACILITIES AND DELIVERY PROCEDURES

      703. DESIGNATION AND OBLIGATIONS OF METAL SERVICE PROVIDERS

      703.A. Conditions for Approval

      (13) Aluminum and, copper and zinc warehouses must be located in the Continental United States. Zinc and lLead warehouses can be located in the Continental United States, the European Union and/or Asia.

      [remainder of rule unchanged]

       

      Please refer questions on this subject to:

      Market Regulation

      Products:                     

      Nadine Brown               Nadine.Brown@cmegroup.com                          +1 212 299 2223

      Registrar’s Office:        

      Terry Gehring                Terry.Gehring@cmegroup.com                           +1 312 435 3644