Notice to Members
Notice No. 294 08/17/2000
Approved Amendment to COMEX Rule 24.06, "Expiration and Exercise of Aluminum Options"
The Exchange has received approval from the Commodity Futures Trading Commission to amend Rule 24.06, "Expiration and Exercise of Aluminum Options". Currently, Aluminum options expire on the fourth business day prior to the end of the month preceding the option contract month, whether or not such business day is a Friday or the day prior to an Exchange holiday. The approved amendment stipulates if the expiration date falls on a Friday or the day immediately prior to an Exchange holiday, the expiration date will be the immediately preceding business day. The approved rule amendment is effective for trading in the October 2000 option contract month and beyond. A copy of the approved rule amendment is attached. Underlining indicates additions and strikeouts indicate deletions. ALUMINUM OPTION EXPIRATION DATES Approved Revisions to COMEX Rule 24.06, Expiration and Exercise of Aluminum Options UNDERLINE INDICATES ADDITION; STRIKEOUTS INDICATE DELETION (a) For option contract months listed for trading through September 2000, Aan Aluminum option shall expire at the close of trading four business days prior to the end of the month preceding the underlying futures delivery contract month. Effective for trading in the October 2000 option contract month and beyond, an Aluminum option shall expire at the close of trading four business days prior to the end of the month preceding the option contract month; provided, however, that (1) if such day is a Friday, the expiration date shall be the preceding business day or (2) if such day is the day immediately prior to an Exchange holiday, the expiration date shall be the preceding business day. Section (b) remains unchanged. If you have any questions concerning this matter, please contact exchangeinfo@nymex.com
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com