• Revocation of Approved Status for Warranting and Delivery of Brands under the NYMEX Platinum and Palladium Futures Contract

      • From
      • Registrar's Office
      • #
      • MKR04-13-18
      • Notice Date
      • 13 April 2018
      • Effective Date
      • 13 April 2018
    • DATE:                 April 13, 2018

      MKR#:                04-13-18

      SUBJECT:         Revocation of Approved Status for Warranting and Delivery of Brands under                              the NYMEX Platinum and Palladium Futures Contract

       

      Effective immediately, New York Mercantile Exchange, Inc. (“NYMEX” or “Exchange”) has revoked the approved status for registration (warranting) for delivery and delivery of the following Brands against the Exchange’s Platinum Futures contract (CME Globex/CME ClearPort Code: PL; Rulebook Chapter 105) and Palladium Futures contract (CME Globex/CME ClearPort Code: PA; Rulebook Chapter 106):

       

      Platinum (PL) Brands

      Producer

      Refined At

      Code

      Brand Marks

      Ekaterinburg

      Russia

      EKAT

      POCCNR (where "N" and "R" are backwards) in an oval & company symbol

       

      Palladium (PA) Brands

      Producer

      Refined At

      Code

      Brand Marks

      Ekaterinburg Non-Ferrous Metal Processing Plant

      Russia

      EKNF

      Company logo in circle

       

      each a “Former Approved Brand”, and together the “Former Approved Brands”.

       

      As such, platinum or palladium of a Former Approved Brand and warrants issued for platinum or palladium of a Former Approved Brand shall not be deliverable under the Exchange’s Platinum Futures and Palladium Futures contracts, respectively.  There is currently no warranted material of a Former Approved Brand at Exchange-approved warehouses.

       

      Any unwarranted material of a Former Approved Brand at Exchange-approved warehouses will no longer be deemed, or reported as, eligible for registration.

       

      The Former Approved Brands are hereby removed from the list of Exchange approved Brand marks as provided in Chapter 7 of the Exchange Rules.

       

      The Exchange notes that on April 6, 2018, the US Department of the Treasury’s Office of Foreign Assets Control ("OFAC"), in consultation with the Department of State, designated certain legal and natural persons as subject to sanctions, including Renova Group. Accordingly, the Exchange is taking the actions set out in this notice in respect of the Former Approved Brands pursuant to Exchange Rule 703.C.

       

      The Commodity Futures Trading Commission (“CFTC”) will be notified of the aforementioned during the week of April 16, 2018 via the weekly notification procedures set out in Part 40 of the CFTC’s Regulations.

       

      Please refer questions on this subject to:

       

      Market Surveillance

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