• NYMEX Rule 985 (Cash Disbursements to Customers Prohibited)

      • To
      • Clearing Member Firms; Back Office Managers
      • From
      • CME Clearing
      • #
      • 09-173
      • Notice Date
      • 27 April 2009
      • Effective Date
      • 27 April 2009
    • NYMEX Rule 985 (“Cash Disbursements to Customers Prohibited”)
      During the recent harmonization of the NYMEX clearing-related rules with those of CME and CBOT, former NYMEX Rule 4.07 (“Cash Disbursements to Customers”) was unintentionally eliminated.  Effective immediately, NYMEX has re-adopted the prohibition set forth in former Rule 4.07 as NYMEX Rule 985 (“Cash Disbursements to Customers Prohibited”).  The text of Rule 985 is set forth below, with additions underscored.
      Rule 985.    Cash Disbursements to Customers Prohibited
      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 maintaining a trading account with the clearing member.
      If you have any questions concerning Rule 985, please contact Arthur McCoy, Managing Director, NYMEX Clearing, at 212.299.2928.