Notice to Members
Notice No. 335
08/17/2005
Amendment to COMEX Rule 104.46, Reportable Requirements for Copper
Effective Wednesday, August 24, 2005, the reportable level for open Copper positions is lowered to 25 lots from the present 100-level. The reduction was made after a recommendation by the Control Committee in response to its reviews of declining Copper warehouse stocks, and approved by the Board of Directors on August 3, 2005, and the COMEX Membership as of August 15.

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(Bold italics indicate additions; bold strikethrough indicates deletions.)

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
100 25
Aluminum
25


Future
# of any one type of contract (long call, short call, long put, short put) in any one expiration
 
Gold
200
Silver
150
Copper
100 25
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com