• COMEX and NYMEX Metal Delivery Processing Transition to Deliveries Plus

      • To
      • Clearing Member Firms, Back Office Managers, and Delivery Personnel
      • From
      • CME Clearing
      • #
      • 09-251
      • Notice Date
      • 12 June 2009
      • Effective Date
      • 12 June 2009
    • We are pleased to announce that COMEX and NYMEX metals will be added to the product suite supported by our Deliveries Plus application. The metals complex will be joining CBT Grains, CBT Financials and CME FX in Deliveries Plus.
                 
       
      Electronic Delivery System (EDS) Transition to Deliveries Plus
       
      The transition from EDS to Deliveries Plus will occur in two phases. Beginning on August 17th, COMEX metals will be migrated and firms/ depositories will begin using Deliveries Plus to facilitate COMEX metal deliveries and continue to use EDS for NYMEX metal deliveries. In the second phase, NYMEX metals will be converted to Deliveries Plus. Beginning on September 14th, firms/ depositories will use Deliveries Plus to facilitate deliveries for COMEX and NYMEX metals.
       
      Inventory records (warrants) will be migrated automatically to Deliveries Plus for each implementation.
       
      Storage charges for the month of September for NYMEX metals will be processed through EDS and COMEX metals through Deliveries Plus. Once both phases are complete, the October storage charges for COMEX and NYMEX metals will be handled through Deliveries Plus. Please be advised the storage timelines are not changing as we transition from EDS to Deliveries Plus.
       
      Similarities and Changes between EDS and Deliveries Plus
       

      What remains the same?

      • ~Warrant and depository information
      • ~Registration process for new warrants
      • ~Assignment process for metal products will continue to be based on the percentage of open interest (firms will not have to maintain holding dates)
      • ~Monthly storage processing

        

      What is changing?

      • ~Deliveries Plus will handle all aspects of the metal delivery process

          • * Inventory Management
          • * Assignment
          • * Invoicing
          • * Storage
          • * Reports
      • ~Certificates may now be held at the Trading Firm level
      • ~There will be different statuses for metal certificates
      • ~Assignment will be finalized on the day an intent is submitted at 9:00 p.m. CST when positions are finalized.
      • ~Reports will be made available through Document Direct on the CME Portal
      • ~Depository API will not be available, however Firms and Depositories will be able to export inventory data via XML or CSV
      • ~Instead of transfer letters, an Export Ownership Changes report will be made available to Firms and Depositories.
      • ~Firms will be able to view their positions real time in Deliveries Plus.
      • ~Firms will be able to retender intents

      • ~Firms will be able to view invoice and assignment details in Deliveries Plus

         

      Training
       
      Training sessions on Deliveries Plus – Metals will be held on the following dates:
       
                              Location            Dates                                              
      New York       June 23rd – June 25th                            
                              Chicago         June 30th                                                
                 Webinars        June 29th      
                             
      To register for one of the training sessions, complete a registration form available through the the following link:    Deliveries Plus Training
       
      Firms and Depositories can begin testing in New Release on Wednesday, June 17th. 
      Users requiring access should complete a Customer Support Access form http://www.cmegroup.com/clearing/files/onlineaccess.pdf  requesting NYMEX deliveries and fax to Firm Support at (312) 338-2626.
                                                                            
      There will be mandatory testing for firms and depositories the week of July 6th and the week of July 27th. Details on testing will be sent in a separate memo.
       
      If there are any questions, please contact the Deliveries Unit @ 1.312.930.3172.

       

       

       

       

       

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