Notice to Members
Notice No. 405 11/27/2000
Current and Historical Silver Stocks at Brink's Inc. and Delaware Depository Service Company, LLC.
Effective Thursday, February 1, 2001, Brink's Inc. in Brooklyn, New York and Delaware Depository Service Company, LLC in Wilmington, Delaware will become 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 Inc. ("Brink's") and Delaware Depository Service Company's ("DDSC") silver stock figures, the Exchange will report both current and historical stock figures from both companies commencing on November 27, 2000. The Exchange will then report the stock figures on 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. Troy Ounces of Silver Eligible for Exchange Delivery   Brink's DDSC December 31, 1999 1,007,397 7,543,394 March 31, 2000 81,262 6,364,264 June 30, 2000 1,403,707 6,133,597 September 30, 2000 1,337,124 5,990,871 October 31, 2000 583,547 5,956,461 November 15, 2000 218,975 5,957,369 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. Depository Charges Brink's Inc. Effective Thursday, February 1, 2001, the rate for storage and handling applicable to silver held on Exchange warrant at Brink's Inc. will be as follows: Storage: $18.50 per contract per month; Handling out: $65.00 per contract. Delaware Depository Service Company, LLC Effective Thursday, February 1, 2001, the rate for storage and handling applicable to silver held on Exchange warrant at Delaware Depository Service Company, LLC will be as follows: Storage: $18.50 per contract per month; Handling out: $65.00 per contract.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com