• Amendments to NYMEX Rule 855 (“Offsetting Different Sized Futures Positions”) and COMEX Rule 120.07 (“E-micro Gold Futures - Delivery and Conversion”)

      • To
      • Clearing Member Firms
      • From
      • CME Clearing
      • #
      • 11-322
      • Notice Date
      • 09 September 2011
      • Effective Date
      • 12 September 2011
    • Effective September 12, 2011, the New York Mercantile Exchange, Inc. (“NYMEX”) and the Commodity Exchange, Inc. ("COMEX" and collectively the "Exchanges") will implement amendments to NYMEX Rule 855 (“Offsetting Different Sized Futures Positions”) and COMEX Rule 120.07 (“E-micro Gold Futures - Delivery and Conversion”) to allow for a 10:1 offset of E-micro Gold futures and Gold futures contracts.
      In order to allow the E-micro Gold futures contract to be fungible with the Gold futures contract, the current delivery specifications will be modified such that on any day during the delivery period until the last intent day, only deliveries in ten (10) contract multiples would be allowed to be delivered. On the last intent day, any quantity of E-micro Gold futures can be delivered.
      The rule amendments are provided in the attached advisory notice. 

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