• Amendment to Minimum Price Fluctuation of Cleared OTC London Gold Forwards (collateral margin) Contract

      • To
      • Members, Member Firms and Market Users
      • From
      • Market Regulation Department
      • #
      • SER-6214
      • Notice Date
      • 26 April 2012
      • Effective Date
      • 30 April 2012
    • Effective trade date Monday, April 30, 2012, the Commodity Exchange, Inc. (COMEX or Exchange) will amend the minimum price fluctuation “per contract” for its Cleared OTC London Gold Forwards (collateral margin) (commodity code GB, rule chapter 334) to properly reflect the accurate minimum price fluctuation of $0.000001 per contract.  In September 2011, the Exchange amended the minimum price fluctuation for the contract to $0.001 per fine troy ounce.
      The Commodity Futures Trading Commission (CFTC) will be notified of the amendment to the minimum price increments during the week of May 7, 2012, via the weekly notification procedures set forth in Part 40 of the CFTC Regulations.
      (underline indicates addition/strikethrough indicates deletion)
      Chapter 334: Cleared OTC London Gold Forwards (collateral margin)
      334.01.C.              Minimum Price Increments
      Minimum price fluctuations shall be in multiples of one tenth of one cent ($0.001) per fine troy ounce which shall equal $0.10 $0.000001 per contract. Contracts shall not be made on any other price basis.
      Please refer questions on this subject to:
      Research and Product Development:
      Bob Biolsi                                 Bob.Biolsi@cmegroup.com                              +1 (212) 299-2610
      Richard Stevens                        Richard.Stevens@cmegroup.com                      +44 (20) 3379 3790
      Joann Arena                              Joann.Arena@cmegroup.com                            +1 (212) 299-2356