• Correction to COMEX Metal Depository Statistics Stock Reports as of April 27, 2011

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • Advisory #
      • SER-5736
      • Notice Date
      • 27 April 2011
      • Effective Date
      • 27 April 2011
    • A correction to the COMEX Metal Depository Statistics Stock Reports published on April 27, 2011, has been made to reflect a change in the reporting of metal from the Registered category to the Eligible category.  This change reflects paper warrants that have yet to be converted to electronic form.  The metal represented by these paper warrants, which will now be reported in the Eligible category, will continue to remain eligible for delivery against COMEX futures contracts provided holders of the paper warrants convert them to electronic form.  

      Exchange metal reported in the Registered category represents troy ounces of metal that meet the contract specifications as defined in the Exchange Rules for which an electronic warrant has been issued.

      Exchange metal reported in the Eligible category represents troy ounces of metal that meet the contract specifications as defined in the Exchange Rules for which an electronic warrant has not been issued.

      The COMEX Metal Depository Statistics Stock Reports reflect the following adjustments:

      Vault          

      Metal           

      Registered   

      Eligible

      Scotia Mocatta*

      Gold

      -107,248 oz

      107,248 oz

       

      Silver

      -5,287,142 oz

      5,287,142 oz

      HSBC Bank, USAGold

      Gold

      -142,310 oz

      142,310 oz

       

      Silver

      -1,421,391oz

      1,421,391oz

      Brink’s, Inc.

      Gold

      -5,728 oz

      5,728 oz

       

      Silver

      -444,095 oz

      444,095 oz

      Delaware Depository

      Silver

      -534,024 oz

      534,024 oz

       

      *This adjustment was reflected on the COMEX Metal Depository Statistics Stock Reports as of April 20, 2011.

       

       

      As background, the Exchange utilizes a paperless Electronic Delivery System for  metals futures contracts. Delivery against the Exchanges’ metals futures contracts takes place by the electronic transfer of warrants between Clearing Members. In order to convert paper warrants to electronic warrants, the paper warrants must be endorsed by the Clearing Member to the appropriate Exchange Licensed Depository for conversion to electronic warrants.

      If you have any questions regarding this matter, please contact Chris Reinhardt, Associate Director, Market Surveillance, at 212.299.2882 or Joann Arena, Manager, Research and Product Development at 212-299-2356

       

      For media inquiries concerning this Advisory Notice, please contact CME Group Corporate Communications at 312.930.3434 or news@cmegroup.com.

       

       

       

       

       

       

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