Notice to Members
Notice No. 309 08/30/2000
Approved Amendment to NYMEX Rule 90.06 "Prices and Fluctuations" Platinum
The Exchange has received approval from the Commodity Futures Trading Commission to amend NYMEX Rule 90.06, "Prices and Fluctuations" of the Platinum Futures Contract. The approved amendment increases the price fluctuation limit for the Platinum Futures Contract to $50.00 per troy ounce from $25.00 per troy ounce for all contract months following the cycle month that is not the current delivery month. The cycle months are defined as January, April, July and October. The approved amendment is effective commencing with the start of trading on NYMEX ACCESS (SM) on Tuesday, September 5, 2000 for trade date of September 6, 2000. Currently, Platinum Futures trade with no maximum price limit fluctuation in the current delivery month, the immediately following cycle month and any months traded between the current delivery month and the immediately following cycle month. There is a one day maximum price fluctuation of $25.00 per troy ounce above or below the preceding day’s settlement price for all other listed contract months. The approved amendment increases the maximum price fluctuation limit in the contract months following the cycle month that is not the current delivery month from $25.00 to $50.00 per troy ounce, with incremental expansions of the limit to $75.00 and $100.00. A copy of the approved amendment is attached. Underlining indicates additions, bracketing [] indicates deletions. Approved Rule Amendment Underlining indicates additions, [] Bracketing indicates deletions. Platinum Futures Contract Rule 90.06. PRICES AND FLUCTUATIONS A. Prices shall be quoted in dollars and cents per ounce. The minimum price fluctuation shall be $.10 per ounce. The maximum permissible price fluctuation (the "basic maximum fluctuation") in any one day shall be $50.00 [$25.00] per ounce above or below the preceding day’s settlement price. All other sections remain 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