Notice to Members
Notice No. 130 03/23/2005
Clarification Regarding Temporary Affiliations and Crosstrades
Notice to Members No. 05-93 dated March 4, 2005 described amendments to NYMEX Rule 6.41, Crosstrades, regarding Temporary Affiliations. This Notice is intended to clarify that the prohibition on a Member trading for a customer order opposite a temporarily affiliated Member pertains only to situations where the opposite affiliated Member is trading for a personal or proprietary account. In other words, the ability of Members who are affiliated, temporarily or otherwise, to trade opposite one another where both Members are handling customer orders, or where both Members are trading for their personal accounts, is preserved, provided such trades follow the NYMEX crosstrade procedures. This does not affect the COMEX Division requirement that where affiliated Members are holding a buy order and a sell order, respectively, that are eligible to be crossed pursuant to COMEX Rule 104.24, such orders may only be crossed by one Member and may not be executed as a trade between the affiliated COMEX Division Members.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com