11/20/2000
Effective Thursday, February 1, 2001, Brink's Inc. in Brooklyn, New York and Delaware Depository Service Company, LLC in Wilmington, Delaware will become eligible as Licensed Depositories for the storage and delivery of silver against the COMEX Silver Futures Contract
In order to provide the market with relevant data pertaining to both Brink's and Delaware Depository Service Company’s silver stock figures, the Exchange will report historical stock figures for both companies on November 27, 2000. The Exchange will then report the stock figures as of November 30th, December 15th, December 29th 2000 and January 16th 2001 in a separate report from the daily metal warehouse statistics. Effective February 1, 2001, the Exchange will begin reporting the eligible and registered silver stocks in the daily metal warehouse statistics for both companies.
Eligible and Registered Silver
The eligible silver stocks at both companies and that of the daily metal warehouse statistics are limited to silver bars that meet the Exchange’s criteria for delivery. This criteria specifies that a silver bar must weigh 1,000 troy ounces, plus or minus 10% and be on the Exchange’s Official List of Approved Refiners and Brands for silver. The eligible stocks denoted here, and in the daily warehouse statistics, do not include such items as 100 troy ounce silver bars or silver coins.
Specifically, eligible metal is not the same as registered metal. Registered metal is defined as metal which meets the standards for delivery as stated in the COMEX Rules and for which a COMEX Depository Receipt (Warrant) has been issued. Eligible metal is defined as metal which meets the standards for delivery as stated in the COMEX Rules and for which no COMEX Depository Receipt (Warrant) has been issued.
In order for eligible metal to become registered metal, the owner of the metal must have an Exchange Licensed Depository issue a Depository Receipt (Warrant) on those silver bars meeting Exchange standards comprising 5,000 troy ounces (plus or minus 6%) stored at its facility.
A copy of the approved amendments is below. Capital letters indicate additions, bracketing [ ] indicates deletions.
Please contact nymex.com for additional information.
Silver Supplement No. 2 Proposed Rule Amendments Capital letters indicate additions; [ ] indicate deletions.
Commodity Exchange, Inc.
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Additional Licensed Weighmasters For Silver
International Testing Laboratories, Inc.
578-582 Market Street
Newark, NJ 07105
Orders: (201) 589-4772
Ledoux & Company
359 Alfred Avenue
Teaneck, NJ 07666
Orders: NJ (201) 837-7160