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Enron Mail |
Notice to Members No: 00-404
November 21, 2000 TO: ALL NYMEX MEMBERS ALL NYMEX MEMBER FIRMS ALL NYMEX CLEARING MEMBERS FROM: Neal Wolkoff, Executive Vice President SUBJECT: DELIVERY ISSUES=01)PLATINUM and PALLADIUM FUTURES CONTRACTS The Exchange has received approval from the Commodity Futures Trading=20 Commission to amend; 1) Platinum Futures Contract Rules: 90.02, "Contract Unit"; 90.03, "Grade a= nd=20 Quality Specifications"; 90.08, "Delivery Procedure"; 90.10, "Depository=20 Receipt"; 90.11, "Inspection"; 90.14, "Rights and Obligations in a Delivery= ";=20 90.18, "Transition of 99.5 Contract to 99.9 Contract"; 90.18A, "Transition= =20 Rules" and Supplement No.5, "Approved Brands Acceptable on the London=20 Platinum and Palladium Market" and 2) Palladium Futures Contract Rules: 100.02, "Contract Unit"; 100.03, "Grad= e=20 and Quality Specification"; 100.04, "Packaging and Marking"; 100.08 "Delive= ry=20 Procedure"; 100.10, "Depository Receipt"; 100.11, "Inspection"; 100.14,=20 "Rights and Obligations in a Delivery"; 100.17, "Transition of 99.8 Contrac= t=20 to 99.9 Contract"; 100.17A, "Transition Rules" and Supplement No.5, "Approv= ed=20 Brands Acceptable on the London Platinum and Palladium Market". The approved amendments are effective commencing with deliveries in the=20 December 2000 Palladium Futures Contract and with deliveries in the January= =20 2001 Platinum Futures Contract. The approved amendments: 1) increase the weight tolerance on the platinum and palladium ingots/plate= =20 delivered from five (5) percent to seven (7) percent; 2) expand the list of approved brands acceptable for delivery against the= =20 respective Exchange contracts by adding all of the brands of platinum and= =20 palladium acceptable on the London Platinum and Palladium Market ("LPPM") a= s=20 of September 18, 2000; 3) permit the delivery of approved brands of platinum and palladium to an= =20 Exchange approved depository directly from the vaults of Credit Suisse Firs= t=20 Boston and UBS Warburg in Zurich, Switzerland, which are delivery locations= =20 for the London Platinum and Palladium Market, by an Exchange approved carri= er=20 without the requirement for an assay certificate; 4) eliminate the transition rules which were applicable when the contract= =01,s=20 quality specifications were transitioned to the current 99.95% pure=20 specification; and 5) establish procedures and safeguards for the buyer in the event the metal= =20 being delivered does not meet the quality specifications of the contract. The approved rule amendments may be found on the Exchange=01,s website at= =20 www.nymex.com/refernce/notices/ntm_404.htm Should you have any questions or require any further information please=20 contact Albert J. Getz at 212-299-2608. __________________________________________________ Please click on the link below to indicate you have received this email. "http://208.206.41.61/email/email_log.cfm?useremail=3Dtana.jones@enron.com&= refdo c=3D00-404" Note: If you click on the above line and nothing happens, please copy the text between the quotes, open your internet browser, paste it into the web site address and press Return.
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