(01-351) Proposed Amendments to COMEX Gold Rules 13.02 and Rule 13.07

Notice No. 01-351
October 22, 2001

TO: ALL COMEX DIVISION MEMBERS
ALL COMEX DIVISION MEMBER FIRMS
ALL COMEX DIVISION CLEARING MEMBERS

FROM: J. Robert Collins, Jr., President

SUBJECT: Proposed Amendments to COMEX Gold Rules 13.02, "Approved
Refiners; Licensed Depositories; Licensed Weighmasters; Approved Deliverers;
Approved Assayers" and Rule 13.07, "Form of Gold Contract".

The Exchange proposes to amend COMEX Gold Rules 13.02, "Approved Refiners;
Licensed Depositories; Licensed Weighmasters; Approved Deliverers; Approved
Assayers" and Rule 13.07, "Form of Gold Contract". The proposed amendments
expand the geographical location in which Exchange Licensed Depositories for
Gold may be located from the Borough of Manhattan to the City of New York.

The proposed amendments must be approved by the Commodity Futures Trading
Commission ("CFTC"). The Exchange membership will be notified upon receipt
of CFTC approval and the effective date of the amendments.

A copy of the proposed amendments is attached.

If you have any questions, please contact Albert J. Getz at 212-299-2608.

Proposed Rule Amendments. Underlining indicates additions; [ ] indicates
deletions.

COMEX Rule 13.02 - Approved Refiners; Licensed Depositories; Licensed
Weighmasters; Approved Deliverers; Approved Assayers.

© The Board Trade Group, upon the recommendation of the Committee on
Precious Metals, shall license facilities located in the [Borough of
Manhattan, ] City of New York, in which gold may be stored for delivery on
Exchange contracts ("Licensed Depositories"). Licensed depositories may be
added or eliminated from time to time, and the Committee on Precious Metals
shall notify members of such changes and of the time when such changes shall
become effective. The addition to or elimination of the names of licensed
depositories shall not be deemed to affect the amount of money to be paid or
the grade or quality of gold to be delivered on Exchange contracts, and
shall be binding upon all such contracts entered into before as well as
after the effective date of any such change, anything in the By-Laws to the
contrary notwithstanding.

Sections (a), (b), (d), (e), (f) and (g) remain unchanged.

COMEX Rule 13.07 - Form of Gold Contract.

All contracts for the futures delivery of gold shall be in the following
form.

COMMODITY EXCHANGE, INC.

GOLD CONTRACT

New York, N.Y............[19] 20....

(sold) (deliver to)
A.B. has this day (bought) and agreed to (receive from)
......................C.D. 100 troy ounces (5% more or less) of bar gold,
assaying not less than 995 fineness, at the price of.............. per ounce
in accordance with the provisions, By-Laws and Rules of Commodity Exchange,
Inc., deliverable from licensed depository in the [Borough of Manhattan,]
City of New York, between the first and last delivery days of
................, inclusive, the delivery within such time to be at seller's
option, upon notice to buyer as provided by the By-Laws and Rules of
Commodity Exchange, Inc.

The remainder of Rule 13.07 remains unchanged.