08/05/2005
The proposed amendment to COMEX Division Rule 104.46 affects 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.
(Bold and italics indicate additions; bold and
COMEX Rule 104.46, Reporting Requirements
(a) General. For purposes of position computation and reporting, if any person holds or has a financial interest of 10% or more in or controls the trading (directly or indirectly, by power of attorney or otherwise) in multiple accounts, the positions carried in all such accounts shall be aggregated and considered as a single position. Similarly, positions carried in the accounts of two or more persons acting pursuant to an express or implied agreement or understanding as if the accounts were held by a single person shall be aggregated and considered as a single position. The accounts in which all such positions are carried are referred to herein as "affiliated accounts."
(b) Reporting Levels. All positions which equal or exceed the levels prescribed below ("reportable positions") shall be reported to the Exchange:
|
Future |
# of contracts long or short in any one
contract month |
| Gold | 200 |
| Silver | 150 |
| Copper | |
| Aluminum | 25 |
|
Option |
# of contracts (long call, short call,
long put, short put) in any one expiration |
| Gold | 200 |
| Silver | 150 |
| Copper | |
| Aluminum | 25 |