• Reminder: 30 Days Notice Required When Changing Brokerage Rates

      • To
      • NYMEX/COMEX Division Clearing Member Firms; NYMEX/COMEX Division Floor Brokers; NYMEX/COMEX Division Floor Clerks
      • From
      • CME Clearing
      • #
      • 09-562
      • Notice Date
      • 15 December 2009
      • Effective Date
      • 15 December 2009
    • NYMEX and COMEX Division clearing members are hereby reminded of the provisions of NYMEX Rule 851 which addresses the use of ATOM (now BPS) for payment of floor brokerage. Specific attention should be paid to sub-paragraph “B” of said Rule which requires that a clearing member must provide 30 days prior written notice to the applicable floor broker before any modification to a floor brokerage rate becomes effective.
       
      Please note that material failure to comply with the provisions of NYMEX Rule 851 (B) could result in a disciplinary action.
       

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