Notice to Members
Notice No. 25 01/27/2005
Reporting of Gold Depository Stocks
The New York Mercantile Exchange, Inc. has self-certified with the Commodity Futures Trading Commission notification of a new policy for the reporting of gold inventories at Exchange Licensed Depositories. Currently, each Licensed Depository for gold reports to the Exchange on a daily basis the (1) gold stocks in troy ounces for which a Warrant has been issued, referred to as Registered Stocks and (2) gold stocks in troy ounces for which a Warrant has not been issued, referred to as Eligible Stocks. Effective January 27, 2005, gold stocks will continue to be reported as discussed above. However, the revised reporting format will incorporate, as a separate item, the assets of the iSHARES COMEX Gold Trust which will include gold stocks which are eligible for delivery against the COMEX Gold Futures Contract and the London Bullion Market. Eligible COMEX gold stocks (kilobars and 100-troy ounce bars) will only be stored in Exchange Licensed Depositories and London eligible gold (400 troy ounce bars) may be stored in either London or New York. The sample Gold Warehouse Stock report will indicate what portion of the Exchange eligible stocks are not readily available to be placed on Warrant and become registered gold stocks and thus deliverable against the Gold Futures Contract.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com