Notice to Members
Notice No. 284 07/11/2003
NYMEX Board Extends NYMEX Division Proprietary Fee Reduction Program to September 30, 2003
At its meeting on July 9, 2003, the NYMEX Board of Directors has determined to extend the Proprietary Fee Reduction Program ("Program") through September 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. 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