Notice to Members
Notice No. 381 09/29/2003
NYMEX Board Extends a Modified NYMEX Division Proprietary Fee Reduction Program to December 31, 2003
At its meeting on September 14, 2003, the NYMEX Board of Directors determined to extend, with certain modifications, the current Proprietary Fee Reduction Program ("Program") through December 31, 2003. Please note that also at that time, the Program in this form will be terminated. NYMEX Division Member Firms and individual members who own seats will have their NYMEX Division fees reduced by 12 cents per round turn (6 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 2.5 cents per round turn (1.25 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. To ensure proper credit for Type 3 trades, floor members who execute Type 3 trades are asked to note that it is required that the executing member 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