Procedures For Insurance Claims For Metal Covered By An Outstanding Warrant Issued Under Exchange Rule 705

Pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (“NYMEX”) and Commodity Exchange, Inc. (“COMEX”) (collectively, the “Exchanges”) will implement an addition to NYMEX/COMEX Rulebook Chapter 7, Rule 705 (“Metal Warrants”) in order to clarify the process for an insurance claim on metal covered by an outstanding warrant. Specifically, the Exchange will institute Rule 705.C. Procedures for Insurance Claims.

Effective May 10, 2022 and pending all relevant CFTC regulatory review periods, Chapter 7 of the NYMEX/COMEX Rulebook shall be amended as noted below and in accordance with NYMEX/COMEX Submission No. 22-184 to reflect the aforementioned amendment. 

For the full text of this notice, please see link attached below.