DATE: November 12, 2014
SUBJECT: Amendments to Rulebook Chapter 7 of the New York Mercantile Exchange, Inc.
Effective Tuesday, November 18, 2014 and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange Inc. (“NYMEX” or “Exchange”) will amend Chapter 7 of the NYMEX Rulebook to introduce NYMEX Rule 719 (“Initial Regularity for Delivery against a New Futures Contract”). NYMEX Rule 719 shall require that initial regularity for delivery against a new futures contract, concurrent with the listing of such new futures contract, be effective either fifteen (15) days after the Exchange posts a notice that a bona fide application has been received or the day after the application is approved by the Exchange, whichever is later.
Initial regularity and increases in regularity for physically delivered contracts currently listed on the Exchange will continue to be effective either thirty (30) days after the Exchange posts a notice that a bona fide application has been received or the day after the application is approved by the Exchange, whichever is later.
In addition, NYMEX and Commodity Exchange, Inc. (“COMEX” or “Exchange”, and collectively the “Exchanges”) will implement certain administrative, non-substantive amendments into NYMEX Chapter 7, including the incorporation into NYMEX Chapter 7 of certain terms and conditions were previously contained in the respective product chapters. With such incorporation and in order to eliminate redundancy, the Exchange is removing the duplicative terms and conditions from the respective product chapters.
Below is a summary of the amendments.
The amendments to NYMEX Chapter 7 and the product chapters can be found in black-line format on the CME Group website at the following links:
Please refer questions on this subject to:
Products: Nadine Brown Nadine.Brown@cmegroup.com (212) 299-2223
Registrar’s Office: Terry Gehring Terry.Gehring@cmegroup.com (312) 435-3644