Notice to Members
Notice No. 343 12/10/2002
NYMEX BOARD Increases Proprietary Fee Reduction Program From JANUARY 1, 2003 To APRIL 30, 2003
The NYMEX Board of Directors has previously determined to extend the Proprietary Fee Reduction Program ("Program") through December 2002 at an increased rate for the time period of October 1, 2002 to December 30, 2002. At its most recent meeting on December 4, 2002, the Board determined to further increase the amounts rebated under the Program for the time period of January 1, 2003, to April 30, 2003. Effective trade date January 1, 2003 through April 30, 2003, NYMEX Division Member Firms and individual members who own seats will have their NYMEX Division fees reduced by 24 cents per round turn (12 cents per trade side). Individual NYMEX Division members who lease their seats, or hold a membership under an ABC Agreement, will have their NYMEX Division fees reduced by 5 cents per round turn (2.5 cents per trade side). Clearing Members who clear Member Firm trades should adjust their billing systems accordingly. Clearing Members clearing floor members' accounts should NOT adjust their billing systems for such individual members. NYMEX issues payments directly to individual members based upon their trading activity. Floor members who execute Type 3 trades are asked to pay special attention to NYMEX Rule 6.18 (B) (ii), requiring the executing member to report the alpha id and short code information of the receiving member on the TMS allocation screen.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com