(01-64) Implementation of NYMEX Resolution ,
 Notice No. 01-64
February 20, 2001

MEMORANDUM

TO:
ALL NYMEX AND COMEX MEMBERS

FROM:
Neal L. Wolkoff, Executive Vice President

DATE:
February 20, 2001

RE:
Implementation of NYMEX Resolution

The purpose of this Notice is to advise Members that an Exchange Resolution=
,=20
which is attached, confers upon COMEX Division Members (owners and those=20
members who hold a seat pursuant to an A-B-C agreement) trading privileges=
=20
for the execution of customer orders by open outcry in the Platinum Ring fo=
r=20
the following NYMEX Division contracts: Platinum Futures; Palladium Futures=
,=20
Liquefied Propane Gas Futures and Platinum Options.  The Resolution further=
=20
provides that such trading privileges are revocable upon 90 days notice by=
=20
the Exchange=01,s Board of Directors.

The Exchange has also made related, conforming amendments to NYMEX Rules=20
6.43A (=01&Broker Association Registration Requirements=018); 6.44 (=01&Reg=
istration=20
for Billing of Floor and NYMEX ACCESS7 Brokerage=018) and 8.66 (=01&Billing=
 and=20
Commissions=018).

The new Resolution and the amendments to the NYMEX rules shall become=20
effective on Wednesday, February 21, 2001.

Please be advised that before a COMEX Member can exercise these trading=20
privileges, the COMEX Member must first comply with the applicable=20
requirements for NYMEX Division Floor Members, including training for tradi=
ng=20
on the NYMEX floor and obtaining a guarantee from a NYMEX Clearing Member.

If you have any questions, please contact M. Dawn Lowe, Vice President, NYM=
EX=20
Membership Department, at (212) 299-2370; George Henderson, Vice President,=
=20
NYMEX Floor Dept., at (212) 299-2071; or Suellen Galish, Vice President,=20
NYMEX Legal Dept., at (212) 299-2215.

 * * * *


RESOLUTION OF THE BOARD OF DIRECTORS TO CONFER ADDITIONAL TRADING PRIVILEGE=
S=20
TO COMEX MEMBERS FOR PLATINUM, PALLADIUM AND PROPANE


RESOLVED that the COMEX Division Members (owners and those members who hold=
 a=20
membership pursuant to an A-B-C Agreement) shall be conferred the privilege=
=20
to trade Platinum Futures, Palladium Futures, Liquefied Propane Gas Futures=
=20
and Platinum Options for customers in the Platinum ring by open-outcry; and

IT IS FURTHER RESOLVED that this trading privilege is revocable upon 90 day=
s=20
notice by further act of the Board of Directors in its sole discretion.


NYMEX AMENDMENTS TO NYMEX RULE 6.43A

 (Asterisks indicate additions; brackets indicate deletions)


Rule 6.43A BROKER ASSOCIATION REGISTRATION REQUIREMENTS

 (A) The term =01&broker association=018 shall mean two or more Trading Mem=
bers at=20
least one of whom is actin as a Floor broker, who: I) engage in floor=20
brokerage activity on behalf of the same employer; ii) have an employer=20
relationship which relates to floor brokerage activity; iii) share profits=
=20
and losses associated with their floor brokerage or trading activity;; iv)=
=20
are officers, directors and/or ten percent (10%) shareholders of the same=
=20
corporation which relates to floor brokerage activity; or v) regularly shar=
e=20
a deck of orders.  ** For the purposes of this rule only the terms =01&Floo=
r=20
Broker=018 and =01&Trading Member=018 shall include COMEX Members who have =
NYMEX=20
Division trading privileges. **

[The balance of the rule remains the same.]


Rule 6.44 REGISTRATION FOR BILLING OF FLOOR AND NYMEX ACCESS
  BROKERAGE

Member Firms and Floor Members engaged personally in floor brokerage or=20
operating brokerage businesses on the Exchange floor are required to regist=
er=20
with the Membership Department, their names and the names of the entities=
=20
under which brokerage will be billed, and the names of all persons having=
=20
ownership interests in such entities, including the percentage of their=20
ownership interests, and to provide upon request any supporting information=
=20
requested by the Membership Department or the Compliance Department. ** For=
=20
the purposes of this rule the terms =01&Member=018, =01&Member Firm=018 and=
 =01&Floor=20
Member=018 shall include COMEX Members who have NYMEX Division trading=20
privileges. **

[The balance of the rule remains the same.]

Rule 8.66 BILLING AND COMMISSIONS

(A) Any bill for services rendered on the trading floor or on NYMEX ACESSc=
=20
shall be issues in the name of, and as payable to a Member or Member Firm. =
*=20
* For the purposes of this rule the terms =01&Member=018 and =01&Member Fir=
m=018 shall=20
include COMEX Members who have NYMEX Division trading privileges. * *

[The balance of the rule remains the same.]




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