The Exchange has complied with regulatory requirements by filing with the Commodity Futures Trading Commission notification of an amendment to COMEX Rule 4.42, "Matched Orders." The approved amendment expands the period in which Matched Orders ("MOs") in the Grade 1 Copper Futures Contract shall be made by open out-cry trading from the five minute period prior to the commencement of the closing period to the twenty-nine minute period prior to the commencement of the closing period.
The approved amendment, which is effective Tuesday, September 2, 2003, is attached.
Should you have any questions please contact Albert J. Getz at 212-299-2608.
PROPOSED CHANGES TO COMEX RULE 4.42
(Bold indicates additions; strikethrough indicates deletions)
4.42 Matched Orders
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(b) Matching of Orders. Subject to sections (a) and (e) of this rule, a floor member intending to purchase or sell a contract at the market price during the closing period may enter into a transaction, either by agreement trading with another floor member or, subject to Rule 4.24, by means of a cross trade, for which the execution price will be determined as provided in section (c) of this rule. Any such agreement trading or cross trade (collectively referred to as a "matched order" or "MO") shall be made by open outcry during the five (5) minute period prior to the commencement of the closing period in the trading ring designated for trading in the particular contract aluminum futures and during the twenty-nine (29) minute period prior to the commencement of the closing period in copper futures.
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[the balance of the Rule remains the same]
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