Notice to Members
Notice No. 673
12/21/2006
Amendments to Chapter 9-Appendix A; Rule 11.63; Rule 9.27A; Rule 9.32; Rule 9.28; Rule 9.29; and New NYMEX Rule 9.26A

This Notice shall serve to correct and replace prior Notice 671

In connection with the launch of Soft Commodity Futures contracts, NYMEX is amending certain rules and establishing others. Effective for trade date December 22, 2006, these amendments include the following: 1) reportable levels, position limits, and any one month/all month accountability levels for six new futures contracts (Chapter 9-Appendix A); 2) applicable timing of the expiration position limits for the six new futures contracts (Rule 9.27); 3) deletion of all references to NYMEX ACCESS (as that electronic trading system that is no longer in use), and addition of appropriate "no bust ranges" and associated information for the six new futures contracts (Rule 11.63); 4) defining any one month and all month position limits for applicable Soft Commodities (new Rule 9.26A); 5) incorporation of exemptions to position limits rules for bona fide hedging transactions as well as exposure from commodity swap transactions (Rules 9.28 and 9.29); 6) incorporation of soft commodity exemptions to position limits related to potential action by the Exchange (Rule 9.32).

The Rule amendments are available here for your review.

*****

(Deletions are in bold/strikethrough; additions are in bold/italicized)

Contract Name
Rule Chapter
Commodity
Code
All/ Any One Month
Accountability Level
All/ Any One Month
Accountability Level
Expiration Month Limit

Expiration
Account-
ability Level
Penultimate
Contracts

Expiration
Account-
ability Level
Last Day
Contracts

Reporting Level
Aggregate
Into (1)
Aggregate
Into (2)
 
 
 
Rule 9.26
Rule 9.26A
Rule 9.27
Rule 9.27A
Rule 9.27A **
Rule 9.34
 
 
Soft Commodities                    
NYMEX Cocoa
930
CJ
6,000
 
750
 
 
25
CJ
 
NYMEX Coffee
931
KT
5,000
 
500
 
 
25
KT
 
NYMEX Cotton
932
TT
 
2,500/5,000
300
 
 
25
TT
 
NYMEX Orange Juice
933
FJ
 
3,200/3,200
300**
 
 
25
FJ
 
NYMEX No. 11 Sugar
934
YO
9,000
 
5000
 
 
25
YO
 
NYMEX No. 14 Sugar
935
FT
 
1,000/1,000
 
 
 
25
FT
 

** Limit applied on a GROSS Long or Short basis

Should you have any questions or require any further information, please contact exchangeinfo@nymex.com