The attached amendments to COMEX Division Rule 4.02, Hours of Trading, which address trading in the post-close, were recommended and approved by the COMEX Governors Committee, and subsequently approved by the Executive Committee and the Board of Directors at their most recent meetings. The COMEX Rule was amended to reflect expanded post-close standards, which mirror those contained in the parallel NYMEX Division Rule. The respective Committees also voted to amend the COMEX rule to specify the minimum period of time between the close and the start of the post-close, consistent with current practice.
The proposed amendments to COMEX Division Rule 4.02 affect a "Special Matter" under the terms of the COMEX By-Laws. Accordingly, COMEX Division Members have ten (10) days to submit a petition signed by owners of at least 155 COMEX Division Memberships requesting a vote of the COMEX Division Members to disapprove the amendments, pursuant to the procedures set forth under COMEX By-Law 205(D). If a petition is not received, or if the amendment is not disapproved, it will be submitted to the Commodity Futures Trading Commission.
Click for the proposed amendments. |
