Notice to Members
Notice No. 563 12/20/2007
Amendments to Exchange Rules 9.26, 9.27, and 9.27A
The Board of Directors, at its meeting on December 11, 2007, approved the attached amendments to Exchange Rules 9.26, 9.27 and 9.27A. The amendment, effective Friday, December 21, 2007: Correct Exchange Rule 9.26 to reflect that energy NYMEX miNY™ contracts exercise into financially settled futures contracts; Clarify that the expiration position limits are effective as of the open of trading on the last three trading days for all energy contracts set forth in Appendix A, Chapter 9 for which expiration position limits have been designated (and conforming changes in Exchange Rule 9.27A with respect to position accountability levels); Remove references to miNY contracts in Exchange Rule 9.27 in light of the fact that such contracts are subject to position accountability levels rather than hard position limits; Provide information regarding the size of various metals miNY contracts (as compared with full-sized futures equivalents) for purposes of calculating position accountability levels on a futures-equivalent basis. Amend Exchange Rule 9.27A such that the reference to the aggregation requirement of Appendix A, Chapter 9 is consistent with the reference to aggregation in Exchange Rule 9.27. Provide for various non-substantive, housekeeping related amendments. To view these amendments, please click here
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