Notice to Members
Notice No. 223
05/31/2005
Preparation Process for Registration/Authorization with the U.K. Financial Services Authority ("FSA")
As you have previously been advised, the Exchange's UK sister company, NYMEX Europe Limited ("NYMEX Europe") has applied to the Financial Services Authority ("FSA") for an order declaring it a Recognised Investment Exchange. Assuming NYMEX Europe becomes recognized, the Exchange would transfer its Dublin trading floor operations in Brent and North West Europe Gas Oil to the NYMEX Europe trading floor in London, at a date to be announced. In connection therewith, NYMEX Europe must ascertain that each of the firms and individuals who intend to conduct business as members of NYMEX Europe, obtain any necessary regulatory status for the business they intend to conduct, prior to commencing trading activities in London.

Accordingly, all firms and individuals who intend to apply for membership in and conduct business as members of NYMEX Europe must immediately provide the following information to the Exchange, Attn: Dawn Lowe, Vice President -Membership at dlowe@nymex.com.
  1. Name of the Firm - or - Individual (i.e., local without any firm affiliation)

  2. Principal Contact Name, Telephone Number and E-mail Address

  3. List of all Current Registrations/Authorizations for the Firm/Individual. Specify agency granting the authorization (FSA/NFA/IFSRA), the registration/authorization category and ID number

    NOTE:
    a) If a firm or individual intends to conduct business on NYMEX Europe though an affiliated company or otherwise through a firm authorized by FSA UK or to rely on a safe harbor from FSA authorization, please identify the affiliated company, or the firm and nature of the affiliation/relationship with it, or indicate the relevant safe harbor (and the basis for reliance on it);
    (b) If a firm or individual is exempt from NFA registration, indicate basis for exemption.

  4. Name of each trader who will execute transactions on the floor. Indicate all current Registrations/Authorizations (FSA/NFA/IFSRA), category and ID number and note whether the trader is an employee or, in the alternative, the nature of the affiliation/relationship. Indicate whether the trader will execute as a sole trader, for the firm's proprietary account or as a floor broker executing customer orders.

  5. Name of each employee who will require access to the floor, his/her specific job function and indicate all applicable registrations/authorizations (FSA/NFA/IFSRA), category and ID number. Indicate whether the employee is currently registered with the Exchange in Dublin and has completed the clerk training program.

  6. In the case of all individuals (employees or otherwise) referred to above, if they have been FSA "approved persons" within the last two years then please provide details.
Your immediate response is imperative to assure a smooth transition of business from Dublin to London and to avoid any potential interruption in your trading privileges. Please submit the requested information directly to the attention of: Dawn Lowe, Vice President - Membership at dlowe@nymex.com.

Notes
  1. Condition for transition and access to NYMEX Europe

    Addressees of this Notice should note that membership in and access to the facilities of NYMEX Europe (including any allocation of a NYMEX Europe seat) is subject to the conditions precedent that:

    (a) NYMEX Europe Limited obtains an order declaring it to be a UK Recognised Investment Exchange (RIE); and
    (b) the membership, trading privileges and other arrangements for access to the facilities of NYMEX Europe once it is recognized, are approved by all relevant regulatory authorities.

  2. NYMEX Europe rules

    The rules adopted by NYMEX Europe may change prior to the recognition of NYMEX Europe by the FSA and any acceptance of members or other participants.

  3. Clearing

    All NYMEX Europe members will need either to be clearing members of NYMEX who are also authorized by the FSA, or to have a relationship (direct or indirect) with a clearing member.

  4. Forward Looking and Cautionary Statements

    NYMEX Holdings has attempted, wherever possible, to make statements in good faith, as of the date of this release, by using words such as anticipates, believes, expects, and words and terms of similar substance in connection with any discussion of its present and future operations within the industry. Any forward-looking statements made by, or on behalf of, NYMEX Holdings and NYMEX Europe involve a number of risks, trends, uncertainties, and other factors which may cause actual results to differ materially, including receipt of the necessary Commodity Futures Trading Commission and Financial Services Authority approval; timely performance and cooperative effort of exchange partners; and changes in financial or business conditions at NYMEX.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com