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Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: quoted-printable X-From: exchangeinfo@nymex.com X-To: tana.jones@enron.com X-cc: X-bcc: X-Folder: \Tanya_Jones_June2001\Notes Folders\All documents X-Origin: JONES-T X-FileName: tjones.nsf Notice # 01-187 June 1, 2001 TO: All NYMEX and COMEX Division Members and Member Firms FROM: Neal L. Wolkoff, Executive Vice President RE: Implementation of Rule Amendments Increasing Capital Requirements for NYMEX= =20 and COMEX Clearing Members DATE: June 1, 2001 =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D Please be advised that the Exchange has determined to implement amendments = to NYMEX Rule 9.21 (=01&Minimum Capital Requirements=018) and to COMEX Clearin= g=20 Association Rule 20 (=01&Minimum Capital Requirements=018), which are attac= hed=20 below. The amendments further enhance the financial integrity of the Exchan= ge=01, s Clearing Houses by raising the minimum capital requirements applicable to= =20 all Clearing Members from $2 million to $5 million. The amendments will go= =20 into effect on June 30, 2001. If you have any questions concerning this change, please contact Bernard=20 Purta, Senior Vice President, Regulatory Affairs and Operations, at (212)= =20 299- 2380; Arthur McCoy, Vice President, Financial Surveillance Section,=20 NYMEX Compliance Department, at (212) 299-2928; or Charles Bebel, Vice=20 President, Clearing Department, at (212) 299-2130. NYMEX Rule 9.21. MINIMUM CAPITAL REQUIREMENTS (Additions are indicated by asterisks; Deletions are in {Brackets}) "(B) Financial Requirements Each clearing member registered with the Commission as a futures commissio= n=20 merchant shall have and maintain working capital equal to or in excess of t= he=20 greater of {$2,000,000} *$5,000,000* or the amount prescribed in Commission= =20 Regulation 1.17. Except as provided in Rule 9.02(K), all other Clearing=20 Members shall have and maintain minimum working capital of {$2,000,000}=20 *$5,000,000*. CCA Rule 20. MINIMUM FINANCIAL REQUIREMENTS (Additions are indicated by asterisks; Deletions are in {Brackets}) (a)(ii) =01&A Clearing Member must have and maintain at all times an adjus= ted=20 net capital or working capital, as the case may be, of not less than the=20 amount set forth in Rule 20(b)=01( .=018 (b)(I) =01&For a Clearing Member which is a Futures Commission Merchant=20 registered as such with the Commission {and which is a U.S. person,} the=20 minimum amount of adjusted net capital shall be {two million ($2,000,000)}= =20 *$5,000,000* {Dollars}.=018 {(b)(ii) =01&For a Clearing Member which is a Futures Commission Merchant= =20 registered as such with the Commission and which is a non-U.S. person, the= =20 minimum amount of adjusted net capital shall be Two and One Half Million=20 ($2,500,000) Dollars of which at least One Million ($1,000,000) Dollars =01= ( .=018} __________________________________________________ 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=3D(01-187)" 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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