Notice to Members
Notice No. 361 07/25/2007
Prohibition of Cash Disbursements to Customers
This past June NYMEX established NYMEX Rule 4.07, Cash Disbursements to Customers, which restricted cash disbursements made by NYMEX Clearing Members directly to their respective customers to a maximum of $5,000 during any single business week (Monday to Friday). Such a restriction was established to ease the operational burden currently posed on our Clearing Members and address certain control issues that have been raised. Please note that the Exchange will be installing additional ATM machines within the NYMEX building. As such, Rule 4.07 is being amended so that Clearing Members will be prohibited from making cash disbursements to their customers, effective August 1, 2007. The applicable change to Rule 4.07 is posted below. * * * * * (Additions are in bold and italicized; deletions have a strikethrough) NYMEX Rule 4.07 – Cash Disbursements to Customers A Clearing Member may not disburse in the form of cash more than a total of $5,000 to any of its customers during any single business week (Monday through Friday). Clearing Members are prohibited from disbursing cash to any of their customers. For the purpose of this Rule, "customer" is deemed to include any person or entity that maintains a futures trading account with the respective Clearing Member.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com