Notice to Members
Notice No. 163 04/08/2005
Amendment to Exchange Rule 3.43, Settlement Price Committee
At its meeting on April 6, 2005, the Board of Directors approved amendments to Exchange Rule 3.43, Settlement Price Committee. Effective April 11, 2005, the amendments clearly denote the appropriate rule number for each Division in referencing the requirements for Settlement Price Committee appointments [i.e., COMEX Division Rule 104.89 and NYMEX Division Rule 6.51(B)]. This reference was inadvertently omitted at the time COMEX Rule 104.89 was implemented in November 2004, which allows for Staff participation on the Settlement Committees. * * * * (Additions are in bold italics) Rule 3.43 - Settlement Price Committee (A) The Settlement Price Committee, which shall be a Regular Committee, shall consist of such members as the Chairman shall appoint with the consent of the Board. The Committee shall be divided into subcommittees for each commodity traded. To the extent possible, each subcommittee, except as provided in NYMEX Division Rule 6.51(B) and COMEX Division Rule 104.89, shall consist of three (3) Members representative of the commodity traded one of whom shall be a Floor Broker, one of whom shall be a Floor Trader, and one of whom shall represent the trade. (B) At the conclusion of the RTH trading session on the Exchange Floor each day, settlement prices shall be determined for every contract traded.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com