Notice to Members
Notice No. 446 11/22/2004
REMINDER: Approved Amendments to the Delivery Rules for the Platinum and Palladium Futures Contracts
The Exchange informed the Membership in Notice to Members No. 04-138 dated April 2, 2004 that effective Monday, December 20, 2004 for the January 2005 Platinum and Palladium Futures Contracts that the following rules for the Platinum and Palladium Futures Contracts would become effective: NYMEX Rule 90.07, "Termination of Trading," NYMEX Rule 90.08, "Delivery Procedure," and NYMEX Rule 90.12, "Handling and Storage Charges" of the Platinum Futures Contract and NYMEX Rule 100.07, "Termination of Trading," NYMEX Rule 100.08, "Delivery Procedure" and NYMEX Rule 100.12, "Handling and Storage Charges" of the Palladium Futures Contract. The following is effective commencing with the January 2005 Platinum and Palladium Futures Contracts. First Notice Day: First Notice Day will be the last business day of the calendar month preceding the named delivery month. For the January 2005 Platinum and Palladium Contracts this will be Thursday, December 30, 2004. First Delivery Day: The First Delivery Day will be the first business day of the named delivery month. For the January 2005 Platinum and Palladium Contracts this will be Monday, January 3, 2005. Last Trading Day: The Last Trading Day will be the third business day prior to the end of the delivery month. For the January 2005 Platinum and Palladium Futures Contracts this will be Thursday, January 27, 2005. The approved amendments would allow for an additional trading day during the delivery month by changing the last day of trading from the fourth business day prior to the end of the delivery month to the third business day prior to the end of the delivery month. The approved amendments would also provide for an additional delivery day by moving the first Delivery Day from the second business day of the delivery month to the first business day of the delivery month and would require the payment of storage and handling fees through the delivery day, and require the refund by the buyer to the seller of any prepaid storage charges which extend beyond the day of delivery up through the end of the delivery month. Click here to view the approved rule amendments are attached. Underlining indicates additions and bracketing [ ] indicates deletions.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com