Amendments to NYMEX/COMEX Chapter 7 to Expand the Location of Warehouses of Aluminum to Europe and Asia and Clarification of Warehouse Load Out Rule for Copper

DATE:           June 21, 2018

MKR#:          06-21-18

SUBJECT:    Amendments to NYMEX/COMEX Chapter 7 to Expand the Location of Warehouses of Aluminum to Europe and Asia and Clarification of Warehouse Load Out Rule for Copper

Effective on trade date Friday, July 6, 2018, and pending all relevant CFTC regulatory review periods, The New York Mercantile Exchange, Inc. (“NYMEX”) and Commodity Exchange, Inc. (“COMEX”) (collectively, the “Exchanges”) will implement amendments to NYMEX/COMEX Rulebook Chapter 7, Rule 703.A. (“Conditions of Approval”) in order to expand the location for the storage and delivery of aluminum delivered against the COMEX Aluminum Futures contract to Europe and Asia. Currently, aluminum delivered against the Aluminum Futures contract is deliverable in the Continental United States.

In addition, the Exchanges are clarifying language in Rule 703.B. (“Load-Out Procedures for Base Metals”) pertaining to copper warehouses to clarify the existing practice regarding the parameters of load-out rates in connection with the COMEX Copper Futures contract. Specifically, the amendments to Rule 702.B. will clarify that the load-out rate pertains to the combination of truck and rail conveyances. Currently, the language identifies the combination of truck and rail by not stipulating a rate by conveyance as in other base metals.

On July 6, 2018, Chapter 7 of the NYMEX/COMEX Rulebook shall be amended in accordance with Exhibit A and Exhibit B of COMEX Submission No. 18-239 to reflect the aforementioned amendments.

Please refer questions on this subject to:

Market Regulation

William Lange                           William.Lange@cmegroup.com                          +1 312 341 7757

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