Notice to Members
Notice No. 347 07/13/2007
Valuation of Money Market Mutual Funds for Original Margin Purposes
Please be advised that NYMEX Rule 9.05 has been amended whereby the value of shares of money market mutual funds deposited by our Clearing Members for original margin purposes will be increased from 95% of face value to 98%. This change becomes effective August 1, 2007. **** (Additions are in Bold and italicized; Deletions have a strikethrough) Rule 9.05, Margins (E) Clearing Members may meet original margin calls by depositing: (4) Shares in a money market mutual fund that complies with CFTC Regulation §1.25 and that has been approved by the Board, subject to the following conditions: (i) for purposes of original margin, such shares will be valued at 95 98% of market value; (ii) a Clearing Member's participation in any approved fund shall be limited to no more than 5% of that fund; and (iii) no more than 25% of the total assets of an approved money market mutual fund may be used to meet original margin obligations at the Exchange.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com