DATE: March 31, 2017
SUBJECT: Suspension of Warranting of Elemetal Refining, LLC (ELEM) Gold and Silver Brands
Effective March 31, 2017, 6 p.m. Central Time (CT), the Commodity Exchange, Inc. (COMEX or Exchange) will suspend registration (warranting) of the Elemetal Refining, LLC (ELEM) gold and silver brands (Brand Mark “ELEMETAL REFINING AND JACKSON IN A CIRCLE WITH A STYLIZED E AND M IN AN INNER CIRCLE”) for delivery against the Exchange futures contracts.
As such, any unwarranted ELEM gold (100-troy ounce bars and kilo bars) and silver at Exchange-approved depositories will no longer be deemed, or reported as, eligible for registration.
Any currently registered (warranted) ELEM gold and silver through 6 p.m. CT on March 31, 2017 will continue to be deliverable against the Exchange futures contracts until such warrant is cancelled. Once the warrant is cancelled, the material cannot be re-warranted until further notice.
The Exchange notes that pursuant to an active review under their Incident Management Process, the London Bullion Market Association has moved ELEM to the LBMA Gold and Silver Former Lists, effective 31 March 2017.
The Commodity Futures Trading Commission (CFTC) will be notified of this brand suspension during the week of April 3, 2017 via the weekly notification procedures set out in Part 40 of the CFTC’s Regulations.
Please refer questions on this subject to:
Terry Gehring Terry.Gehring@cmegroup.com +1 312 435 3644
Nadine Brown Nadine.Brown@cmegroup.com +1 212 299 2223