(01-93) Amendments to Delivery Rules ,
 Notice No. 01-93
March 14, 2001


TO:
All COMEX Division Floor Members and Member Firms
All COMEX Clearing Firms
All COMEX Operations Managers

FROM:
Neal Wolkoff
Executive Vice President

RE:
Amendments to Delivery Rules Concerning Payment in the Gold, Silver and=20
Copper Futures Contracts
___________________________________________________________________________=
___




  Please be advised that effective, Thursday, March 15, 2001, payment for=
=20
delivery of COMEX Division metal contracts Gold, Silver and Copper may be=
=20
consummated by money wire if agreed upon by both clearing members.

  Currently, the above-mentioned contracts require payment by certified che=
ck=20
only.  These amendments will offer added flexibility through an additional=
=20
option to the clearing members upon mutual consent.  The amendments for the=
=20
relevant contracts are attached for your review.

  If you have any questions concerning this Notice, please contact Thomas=
=20
LaSala, Vice President, Compliance, at (212) 299-2897, or Nicholas Galati,=
=20
Director, Market Surveillance, at (212) 299-2920.



Attachment



(underlining indicates additions)

COMEX Gold:

Rule 13.12(e) =01) Delivery of Gold

(e) The member to whom delivery is made shall at once make payment to the=
=20
member making delivery by a certified check drawn upon a bank in the City o=
f=20
New York or, if mutually agreed upon, effect payment by federal funds money=
=20
wire.  Payment shall be made upon the basis of the weight as certified in t=
he=20
weight certificate for the lot and the fineness of such gold up to 9999 fin=
e=20
as stamped on the bars.


COMEX Silver:

Resolution - .10 Interpretation of Term =01&Bar List=018

(f) The member receiving the warehouse or vault receipt shall at once make=
=20
payment to the member presenting the same, by a certified check drawn upon =
a=20
bank in the City of New York or, if mutually agreed upon, effect payment by=
=20
federal funds money wire.  Payment shall be made upon the basis of the weig=
ht=20
stamped upon the bars delivered.  If the material is stamped in kilos and t=
he=20
total weight as shown by the depository on the receipt is in kilos, then th=
e=20
total kilo weight should be converted to ounces for the purposes of=20
determining the billable weight.


COMEX HG Copper:

Rule 11.45(i) =01) Delivery of Copper

(i) When documents are presented, the buyer shall at once make payment by=
=20
bankers certified check to the delivery member or, if mutually agreed upon,=
=20
effect payment by federal funds money wire to the delivery member.



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