Notice to Members
Notice No. 147 03/12/2007
Exchange Reduces Financial Requirements for All NYMEX Member Firms and Changes Size of NYMEX Bundle
Effective Monday March 12, 2007, NYMEX Rule 2.10 (Member Firm Privileges) was amended to reduce from 180,000 to 150,000 the amount of NYMEX Holdings, Inc. Common Stock required to become and/or maintain Member Firm privileges in the NYMEX Division of the Exchange. This amendment is applicable to NYMEX Division Clearing and Non-Clearing Member Firms. There is no share-holding requirement applicable to COMEX-only Division Member Firms. It should be noted that this is the first in a series of reductions in NYMEX Division Member Firm share requirements the Board plans to implement over an, as yet, unspecified schedule. Effective Monday, March 12, 2007, the NYMEX Bundle will consist of one NYMEX Trading Right and 75,000 shares of NYMEX Holdings, Inc. Common Stock. The specific break down of the stock in the NYMEX Bundle will be 15,000 Series A-1, 30,000 Series A-2 and 30,000 Series A-3 NYMEX Holdings, Inc. Common Stock. Rule 2.10 MEMBER FIRM PRIVILEGES (A) Each firm, as a condition of obtaining and maintaining Member Firm privileges, shall be required to own and or have conferred upon it two (2) Exchange memberships in each Division in which it desires Member Firm privileges. The firm shall also be required to designate one or two individuals as its "conferring Members." Conferring Members may individually own the membership(s) and or hold such memberships via ABC Agreement. In addition, until further notice from the Exchange, each NYMEX Division Member Firm shall at all times own or have pledged/conferred upon it at least 150,000 shares in NYMEX Holdings, Inc. common stock. The remainder of Rule 2.10 is unchanged.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com