Notice to Members
Notice No. 43 02/04/2005
Increase in Palladium Spot Month Limit and Accountability Level
The Executive Committee and Board of Directors, on February 1 and 2, 2005, respectively, approved a request from the Control Committee to increase the Palladium accountability level [reflected in Rule 9.26(D)] from 625 contracts to 1,000 contracts, and to increase the spot month limit [reflected in Rule 9.27(D)] from 225 contracts to 650 contracts, effective Monday, February 7, 2005. Palladium warehouse stocks and open interest are currently at 7,081 receipts and 12,584 contracts, respectively. Since January 2, 2005, Palladium warehouse stocks have steadily climbed, beginning in mid-August 2003 to its current level, from a low of 151 receipts. Similarly, open interest began its ascent from a low of 2,000 contracts for the same period.
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